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Autodesk registers Q2 subscriptions growth, outlook raised; +5%

Aug. 26, 2016 10:46 AM ETAutodesk, Inc. (ADSK) StockBy: Eric McCaffrey, SA News Editor
  • Autodesk (NASDAQ:ADSK +5.4%) grew total subscriptions in Q2 by 109,000 (2.82M overall) and new model subscriptions by 125,000 (692,000 overall). Maintenance subscriptions decreased by 16,000 Q/Q (2.13M total). New model annualized recurring revenue ($371M) grew 82% Y/Y, total annualized recurring revenue ($1.47B) grew 10% Y/Y and deferred revenue ($1.52B) grew 23% Y/Y. Total revenue ($550.7M) declined 9.6% Y/Y.
  • Projects Q3 revenue of $470M-$485M and FY 2017 revenue of $2B-$2.05B.
  • CEO Carl Bass: "We posted terrific second quarter results driven by growth in new model subscriptions, the end of perpetual license sales, and diligent cost control. We’ve now seen several quarters of strong growth from our new model subscriptions, as our customers and partners embrace a model that has greater flexibility and a better user experience." He further attributed the quarter to focus on growing lifetime customer value and increasing cloud-based solution adoption.
  • Press release

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