Autodesk Stock Price, News & Analysis

Autodesk is set to host its annual Autodesk University (AU) 2021 virtually from October 5–7, focusing on innovation in architecture, engineering, construction, product design, and media. The conference will feature keynote sessions led by CEO Andrew Anagnost and offer free access to expert-led classes and networking opportunities. This year's event highlights Autodesk's commitment to sustainability, achieving carbon neutrality for the seventh consecutive year. Additionally, it will introduce the new "Autodesk it" advertising campaign aimed at enhancing brand engagement.

Autodesk announced that over 350,000 projects worldwide are utilizing Autodesk Construction Cloud to enhance preconstruction workflows, including document and bid management, model coordination, and collaboration. The company is committed to unifying construction processes and has introduced various product updates, facilitating better project management through features like machine learning for risk mitigation and improved collaboration. Notable users include DeAngelis Diamond, Granger Construction, and Windover Construction.

Autodesk and FMI Corporation's new study highlights that 'bad data' may have cost the global construction industry $1.85 trillion in 2020. Surveying over 3,900 professionals, they found that 30% believe more than half of their project data is 'bad', leading to poor decision-making costing $88.69 million in rework alone. The study emphasizes the importance of implementing effective data strategies to minimize project delays, budget overruns, and enhance overall decision-making quality in construction.

Autodesk (NASDAQ: ADSK) announced its executives will speak at three upcoming investor conferences in September 2021. The conferences include:

• Deutsche Bank's Virtual Technology Conference on September 9
• Citi's 2021 Global Technology Virtual Conference on September 14
• J.P. Morgan 12th Annual U.S. All Stars Conference on September 21

Live webcasts and replays will be available on Autodesk's Investor Relations Website. For inquiries, contact Autodesk Investor Relations at 415-507-6373.

Autodesk (ADSK) reported Q2 fiscal 2022 results with total revenues of $1,060 million, up 16% year-over-year. GAAP operating margin decreased by 2 percentage points to 14%, while Non-GAAP operating margin rose by 2 points to 31%. GAAP diluted EPS was $0.52, and Non-GAAP EPS was $1.21. Total billings increased by 29% to $1,015 million. Subscription plan revenue grew 21% year-over-year to $1,017 million. Cash flow from operations was $202 million, yielding free cash flow of $186 million. The company raised FY22 revenue and margin guidance, citing robust growth in new product subscriptions.

Autodesk announced plans to broadcast its Q2 fiscal 2022 financial results conference call on August 25, 2021, at 2:00 p.m. PT. The event will be accessible live via their website, with an audio replay available post-call. Additionally, Autodesk will host its Digital Investor Day on September 1, 2021, at 9:00 a.m. PT. This event aims to enhance communication with stakeholders. For further inquiries, Autodesk's Investor Relations can be reached at 415-507-6373.

Autodesk, Inc. (NASDAQ: ADSK) announces that its Autodesk Build project management solution is being utilized on over 8,000 active projects worldwide since its launch in February 2021. The platform enhances quality, safety, and cost management, creating a unified environment for project data. Notably, industry leaders like APTIM and Barton Malow are leveraging Autodesk Build to mitigate risks and improve efficiencies. Key features include centralized document management, connected data for project teams, and predictive analytics.

On July 20, 2021, Autodesk (NASDAQ: ADSK) announced the termination of its acquisition discussions with Altium Limited (ASX: ALU). Despite verbally improving their initial proposal, Autodesk could not reach an agreement to move forward. CEO Andrew Anagnost expressed respect for Altium's leadership team and wished them well. Autodesk is known for its software that supports various industries including automotive and entertainment, empowering creativity in product development.

On July 12, 2021, Autodesk announced the launch of its cloud-based digital twin platform, Autodesk Tandem, after a successful public beta. This platform aims to address inefficiencies in engineering and construction by optimizing data usage, as highlighted in a FMI report stating over 95% of data goes unused. Autodesk Tandem enhances operations and asset management for Architecture, Engineering, and Construction (AEC) firms by creating digital twins that improve operational efficiency and predictive maintenance capabilities, ultimately benefiting owners with better asset performance.