Autodesk: everything is fine; nothing to see here

Jun 3, 2024 | Hot Topics

A quick update since so many of you have asked: On Friday, Autodesk said it had concluded its investigation into free cash flow and operating margin calculations and that there would be no restatement or adjustment of any previously released financial statements. In other words, they did it right the first time. Autodesk has yet to file its annual report (10-K) and has not scheduled its FQ1 earnings call, so we’re not entirely caught up but we’re getting closer.

In the meantime, CEO Andrew Anagnost gave this update about FQ1: “In the first quarter of fiscal 2025, we generated broad-based growth in AEC and manufacturing across products and regions. The new transaction model implementation is on track. Our strong start sets us up well to achieve our goals for the year.”

More quantitatively, Autodesk’s press release said that FQ1 revenue was “approximately $1.42 billion” (which is ahead of prior guidance of $1.39 billion to $1.40 billion). For FQ2, the company expects revenue between $1,475 million and $1,490 million and, for the year, revenue of $5,990 million to $6,090 million, up 9% to 11%. We’ll know more with the 10-K filing for fiscal 2024 and after the FQ1 call, whenever those happen.

On a completely different topic: I was made aware over the weekend that Schnitger Corp. has been named a global digital twin leader in an industry study by … someone. Yes, I often write and talk about digital twins, but my company is NOT a “key player.” I’m not even sure I should be flattered since we’re named alongside other “why are they on this list?” companies. My point is this: anyone can publish a list of anything and charge for it. Look at these studies and be critical. Who are these “analysts”? What do they know? What else have they published? What companies are on this list, and why are they included? Did an AI scrape the interwebs and create this list from the mashup of junk that’s out there? In this case, perhaps yes. Certainly, no one asked me about it. Ever.

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