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SAN FRANCISCO, June 11, 2024 /PRNewswire/ — Autodesk, Inc. (NASDAQ: ADSK) today announced its financial results for the first quarter of fiscal 2025. The company reported strong growth across key metrics, reflecting its continued leadership in 3D AI and the transformation of industries through innovative cloud-based platforms.
**First Quarter Fiscal 2025 Financial Highlights**
- Total revenue surged by 12%, reaching $1.42 billion.
- Recurring revenue accounted for 97% of total revenue, demonstrating the strength of Autodesk's subscription model.
- GAAP operating margin improved significantly to 21%, marking a 4 percentage point increase from the same period last year.
- Non-GAAP operating margin reached 35%, an improvement of 3 percentage points year-over-year.
- GAAP diluted earnings per share (EPS) came in at $1.16, while non-GAAP diluted EPS was $1.87, representing a notable increase from the previous year.
- Operating cash flow totaled $494 million, with free cash flow reaching $487 million.
Autodesk President and CEO, Andrew Anagnost, expressed optimism about the company’s position in the emerging field of 3D AI and its industry cloud solutions. He highlighted that Autodesk is pioneering ways to leverage generative AI to enhance 3D modeling capabilities and is well on track to revolutionize how CAD geometry is understood and utilized. Anagnost emphasized Autodesk’s commitment to maintaining its competitive edge while aiming for an industry-leading "Rule of Forty" ratio of 45 or more.
**Additional Financial Insights**
- Total billings declined by 5% to $1.11 billion.
- Design revenue increased by 10% to $1.20 billion, driven by robust demand in core markets.
- Make revenue rose by 20% to $145 million, showing the growing importance of cloud-based manufacturing solutions.
- Net revenue retention rates remained steady within the 100 to 110 percent range, indicating consistent customer satisfaction and loyalty.
- Deferred revenue dropped by 12% to $3.96 billion, partly due to shifts in billing cycles, while unbilled deferred revenue grew by $1.03 billion compared to the previous year.
**Regional Breakdown**
Revenue by geographic area showed strong performance across regions:
- **Americas**: Total revenue of $619 million, up 12% year-over-year.
- U.S.: $509 million, representing a 12% increase.
- Other Americas: $110 million, up 13%.
- **EMEA**: Revenue stood at $534 million, a 13% increase from the prior year.
- **APAC**: Revenue reached $264 million, marking a 9% year-over-year growth.
**Business Outlook**
Looking ahead, Autodesk provided a positive business outlook for the second quarter and full fiscal year 2025. The company expects Q2 revenue to fall between $1.475 billion and $1.490 billion, with GAAP EPS ranging from $1.12 to $1.18 and non-GAAP EPS between $1.98 and $2.04. For the full fiscal year, Autodesk anticipates revenue to grow by 9% to 11%, with non-GAAP operating margins expected to reach 35% to 36%.
**Conclusion**
Autodesk continues to demonstrate resilience and innovation in a challenging economic landscape. Its focus on cutting-edge technologies like 3D AI and cloud solutions positions it strongly for future growth. Investors and analysts remain optimistic about the company’s ability to sustain its momentum and achieve its ambitious targets.
For more detailed financial information and additional insights, visit Autodesk’s investor relations page at [autodesk.com/investor](https://www.autodesk.com/investor).