On July 5, 2019, 3D software developer Autodesk recently released its financial results for the first quarter of fiscal year 2020. Autodesk’s total revenue for the first quarter of fiscal year 2020 increased by 31% to $735 million, and revenue for the same period of fiscal year 2019 was $559.9 million.
As a performance indicator, the company’s annual recurring revenue (ARR) is also considered throughout the report, which includes maintenance and subscription plans. Compared with the same period in fiscal year 2019, the ARR in the first quarter of fiscal year 2020 increased by 33% to $2.83 billion.
Autodesk President and CEO Andrew Anagnost is still satisfied with the results. In an earnings conference call with analysts, he stated that the company “has achieved a strong start in fiscal 2020, with its billing and free cash flow meeting or exceeding expectations, and exerting a huge momentum in the entire business.”
Autodesk Q1 2020 by region
Geographically, the Americas are Autodesk’s strongest gross net income region. In the three months ended April 30, 2019, net income in the Americas was reported at $295.8 million, of which net income in the United States was $249.1 million and the other Americas were $46.7 million. However, in terms of growth, EMEA and APAC are the company’s strongest areas. In the first quarter of 2020, the net income of the two regions increased by 35% compared to the same period in 2019. In the first quarter of 2020, the net income of EMEA was US$297.2 million. The Asia Pacific region’s net income for the first quarter of 2020 was US$142.5 million.
In the fourth quarter of 2019 full-year earnings conference call, Anagnost commented that Autodesk’s Fusion 360 program won the software tool of the year in 2017, but its growth conditions are “really hot.” When considering the first quarter of 2020, this situation reappeared because Fusion 360 grew 43% in ARR. In addition, Anagnost said: “Our investment in generative design and Fusion 360 has enabled our business customers to increase monthly active users by more than 100% year-on-year. Users like the cloud-based, comprehensive FUSION 360 solution.”
At the same time, it is clearly pointed out that generative design will become an important development area for the company in the future.In the conference call, Anagnost resolved the user’s belief that generative design only applies to3D printingthe opinion of. “I want to make sure people understand this,” he commented, “because people think these are very advanced things, not just3D printingthe key of. “First, the CEO continues to emphasize that this is not the case. The biggest use we see about generative design is that people are exploring new types of design options for what they have or what they have built from scratch. They must use generic Design as a tool to show them new solutions to solve problems that they couldn’t find naturally in the first place.”
Recently, the aPriori plug-in for Fusion 360 generative design functions has now been provided for 2.5 and 5-axis milling and 2-axis cutting.
Autodesk’s 2020 fiscal year guide
In addition to earnings for the first quarter of 2020, Autodesk also provided guidance for the full year of fiscal year 2020. It is currently expected that the total annual ARR will reach US$3.5 billion to US$3.55 billion, an increase of 27% to 29% compared to the 2019 fiscal year. It is estimated that the turnover in fiscal year 2020 will be between US$4 billion and US$4.1 billion.
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