February 27, 2023
Autodesk reported financial results for the fourth quarter and full year of fiscal 2023. This quarter’s revenue stood at $1.32 billion, 3% up compared to $1.28 billion of third quarter of fiscal 2023, with a profit of $293 million.
“As we deliver next-generation technology and services to our customers, the pace of transformation within and between the industries we serve will accelerate, generating large new growth opportunities for Autodesk,” says Andrew Anagnost, Autodesk president and CEO. “We started seeing the shift towards connected digital workflows in the cloud in product design and manufacturing, then in architecture, followed by building engineering, and more recently construction. And we are now seeing growing momentum with owners.”
“Overall, the demand environment in Q4 remained consistent with Q3 with the approaching transition from up-front to annual billings for multi-year contracts, and a large renewal cohort, providing a tailwind to billings and free cash flow,” says Debbie Clifford, Autodesk chief financial officer. “We continue to develop broader strategic partnerships with our customers, closing our largest deal to date during the quarter. Our strong momentum and competitive performance set us up well for fiscal 24.”
Sources: Press materials received from the company and additional information gleaned from the company’s website.