Autodesk Stock Price, News & Analysis

Autodesk, Inc. (NASDAQ: ADSK) reported strong Q3 fiscal 2021 results, with revenue of $952 million, up 13% year-over-year. The GAAP operating margin improved to 18%, while the non-GAAP operating margin reached 30%. GAAP EPS stood at $0.59, and non-GAAP EPS was $1.04. Positive cash flow from operations totaled $361 million. Enterprise customer engagement and subscription renewals fueled growth, despite a 1% decrease in total billings. The company anticipates continued double-digit growth moving forward, backed by a robust cloud-based platform.

Autodesk (NASDAQ: ADSK) announced its participation in several upcoming virtual investor conferences. Key events include the Berenberg European Conference 2020 and Credit Suisse 24th Annual Technology Conference, both on November 30, 2020, followed by Wells Fargo Securities TMT Summit on December 1, 2020, Nasdaq Virtual Investor Conference on December 4, 2020, and Barclays Global Technology Conference on December 9, 2020. A live webcast of the presentations will be available on Autodesk's Investor Relations website.

Autodesk announced the upcoming launch of Autodesk Tandem at Autodesk University on November 17, 2020. This innovative tool integrates diverse project data into a centralized digital hub, offering a comprehensive digital twin for asset management. By connecting digital models to their physical counterparts, Autodesk Tandem enhances operational insights and decision-making for owners and operators. Autodesk emphasizes the importance of maintaining data continuity through project stages, as 80% of an asset's value is realized during operations. The platform aims to streamline digital handover and improve project performance.

On November 17, 2020, Autodesk unveiled new products under its Autodesk Construction Cloud, including Autodesk Build, Autodesk Quantify, and Autodesk BIM Collaborate. These innovations aim to connect data and improve collaboration throughout the construction lifecycle. Autodesk Build integrates features from PlanGrid and BIM 360 for enhanced project management. Autodesk Quantify automates 2D and 3D quantification, while Autodesk BIM Collaborate streamlines design collaboration and coordination. The solutions offer a unified platform to enhance operational efficiency and data-driven decision-making.

Autodesk (NASDAQ: ADSK) has announced a definitive agreement to acquire Spacemaker for $240 million. Based in Oslo, Norway, Spacemaker leverages AI and generative design to enhance early-stage architectural decisions, promoting sustainability and maximizing property investments. The acquisition, expected to close in Autodesk's fourth quarter of fiscal 2021, aims to improve design efficiency and user-centric automation. Notable executives highlighted the significance of this integration for transforming urban planning amid rising global urban populations.

Autodesk, Inc. (NASDAQ: ADSK) is hosting its first digital conference, Autodesk University (AU) 2020, from November 17-20, 2020, welcoming over 100,000 innovators from more than 190 countries. This shift to a virtual format is in response to COVID-19, emphasizing health and safety while providing opportunities for learning and collaboration. Attendees will explore technologies impacting construction, manufacturing, architecture, and media. The event is designed to engage with customers, offering sessions on industry innovation and sustainability.

Autodesk, Inc. (Nasdaq: ADSK) announces the departure of CFO Scott Herren, effective mid-December, as he takes on a new role at Cisco. Herren, who has been with Autodesk for over six years, played a vital role in transitioning the company to a successful SaaS business model. Autodesk is currently searching for a new CFO and expects Q3 fiscal 2021 results to exceed guidance. The company remains optimistic about its fiscal 2023 goals and growth potential in various sectors, despite potential risks highlighted in a safe harbor statement.

Autodesk will broadcast its third quarter fiscal 2021 financial results conference call on November 24, 2020, at 2:00 p.m. Pacific Time. The conference call will be available via their investor website, with an audio replay accessible after 5:00 p.m. PT. This engagement highlights Autodesk's commitment to transparency and investor communication, allowing stakeholders to stay updated on financial performance and corporate developments.

Autodesk (ADSK) announced the international expansion of BuildingConnected, a construction management solution, into the UK, Ireland, Australia, and New Zealand. This platform streamlines the bidding process with a network of over one million construction professionals. Currently, more than 2,000 general contractors actively manage projects valued at $56 billion monthly in North America alone. The expansion aims to increase productivity and reduce project risks for global construction teams, enhancing communication and collaboration throughout the tendering process.