Autodesk Stock Price, News & Analysis

Autodesk has announced the acquisition of Moxion, a New Zealand-based cloud platform that enhances digital dailies for filmmakers. This strategic move aims to expand Autodesk's offerings beyond post-production into the production phase, thereby integrating processes across the content creation pipeline. Moxion's technology ensures secure, efficient collaboration on-set, facilitating better creative decisions. The transaction, completed in Autodesk's fiscal Q4 of 2022, will not materially impact the company's guidance for that period.

GE has appointed Scott Reese as the new CEO of GE Digital, effective February 22, 2022, succeeding Patrick Byrne. Reese, previously with Autodesk, brings extensive experience in product development and growth strategies. His leadership is expected to enhance GE Digital's role in the upcoming energy company spin-off planned for 2024. Scott Strazik, CEO of GE's global energy business, expressed confidence in Reese's capabilities to drive digital transformation and decarbonization initiatives.

Autodesk has appointed Rebecca Pearce as its new Chief People Officer, effective immediately. With over 20 years of HR experience across Asia, Europe, and North America, Pearce will oversee all human resources functions and corporate real estate, travel, safety, and security. CEO Andrew Anagnost expressed confidence in her leadership, particularly during challenges posed by the pandemic and market transformations. Pearce, holding degrees in Organizational Behavior and Human Resource Management, aims to enhance Autodesk's employee experience and talent management.

Autodesk (NASDAQ: ADSK) announced its acquisition of ProEst, a cloud-based estimating solution, to enhance its Autodesk Construction Cloud. This strategic move aims to improve preconstruction capabilities, allowing construction teams to create accurate estimates, manage bids, and minimize project risks on a unified platform. ProEst's integration is expected to streamline estimation workflows, enhance productivity, and reduce errors, contributing to better project outcomes. The acquisition is anticipated to close in Autodesk's fourth quarter of fiscal 2022, having no material impact on prior financial guidance.

Autodesk (NASDAQ: ADSK) announced its participation in several upcoming investor conferences. The events include the Wells Fargo 5th Annual TMT Summit and the Credit Suisse 25th Annual Technology Conference on November 30, 2021, followed by the Barclays Global Technology, Media and Telecommunications Conference on December 7, 2021. A live webcast of these presentations will be available on Autodesk's Investor Relations website. Investors are encouraged to register 15 minutes early. For more information, contact Autodesk Investor Relations at 415-507-6373.

Autodesk reported Q3 fiscal 2022 results with total revenue of $1,126 million, an 18% increase year-over-year. GAAP EPS was $0.61, while non-GAAP EPS stood at $1.33. Despite a 16% rise in total billings to $1,168 million, supply chain disruptions and inflation are affecting the company's recovery pace. Design revenue rose to $994 million, up 17%. Recurring revenue represents 97% of total income. Cash flow from operations decreased to $270 million, reflecting challenges in the current market landscape.

Autodesk (NASDAQ: ADSK) will host its third quarter fiscal 2022 financial results conference call on Tuesday, November 23, 2021, at 2:00 p.m. PT. The call will be available via a live webcast on Autodesk's investor relations website. An audio replay will be accessible post-call after 5:00 p.m. PT. This event is crucial for shareholders and market analysts to assess Autodesk's financial performance and outlook.

A recent study by Altimeter and Autodesk (NASDAQ: ADSK) highlights that companies with higher digital maturity are better prepared for the upcoming trend of convergence, blending technologies and processes. The survey included 749 leaders from various industries and revealed that 58% recognize convergence as critical for their business. The research identifies five stages of digital maturity, with companies at Stage 5 viewing convergence as essential. Key challenges in adopting convergence include cultural resistance, data quality for AI, and the need for skilled talent.