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Autodesk Inc ADSK

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Autodesk’s Subscription Business Drives Renewed Strength in Q1; FVE Remains $209

Julie Bhusal Sharma Equity Analyst

Analyst Note

| Julie Bhusal Sharma |

Wide-moat Autodesk reported a strong start to fiscal 2022, exceeding our expectations on the top and bottom lines. Revenue growth was driven by new product subscriptions, and improvement in usage and renewal rates. Autodesk continues to benefit from secular industry shifts toward cloud-platforms and digital acceleration. Capitalizing on the latter, the company’s architecture, engineering, and construction, or AEC, suite released new product offerings and enhancements in the quarter aimed at creating a set of seamless end-to-end cloud solutions that connect the entire construction workflow. We are encouraged by the continued investments made in high-growth-potential business segments. This quarter’s acquisition of Upchain meaningfully impacts its manufacturing business, but also shows promise in integrating with several other existing offerings.

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Company Profile

Business Description

Founded in 1982, Autodesk is an application software company that serves industries in architecture, engineering, and construction; product design and manufacturing; and media and entertainment. Autodesk software enables design, modeling, and rendering needs of these industries. The company has over 4 million paid subscribers across 180 countries.

Contact
111 McInnis Parkway
San Rafael, CA, 94903
T +1 415 507-5000
Sector Technology
Industry Software - Application
Most Recent Earnings Apr 30, 2021
Fiscal Year End Jan 31, 2022
Stock Type Speculative Growth
Employees 11,500

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