SAN RAFAEL, CA, Mar 3, 2017 – Autodesk, Inc. reported financial results for the fourth quarter and full fiscal year ended January 31, 2017. Revenue was $478.8 million, a decrease of 2% percent compared to the third quarter’s revenue of $489.6 million.
“Autodesk’s market-leading products are revolutionizing how customers design, engineer and make anything,” said Amar Hanspal, Autodesk co-CEO and chief product officer. “We finished the fiscal year on a high note with triple-digit year-over-year growth in new model subscriptions and new model ARR, which demonstrates our customers’ readiness to adopt our new offerings. We’re particularly pleased with the success of cloud subscriptions where our best-in-class BIM 360 and Fusion offerings drove more than a 150 percent increase year-over-year and represent Autodesk’s increasing footprint in construction and manufacturing.”
“We made exceptional progress on our business model transition in fiscal 2017 as we successfully navigated the move to subscription-only sales,” said Andrew Anagnost, Autodesk co-CEO and chief marketing officer. “We’re well positioned for the next phase of the transition where we’ll offer our maintenance customers an easy and cost effective path to move to product subscription.”
“Record new model subscription additions and continued cost control contributed to our strong fourth quarter results,” said Scott Herren, Autodesk chief financial officer. “We have invested in critical areas to fuel the transition and the long-term health of our business, while simultaneously reducing non-GAAP spend by three percent for the fiscal year. We’re starting fiscal 2018 from a position of strength, which gives us added confidence in our ability to achieve our long-term targets and drive long-term value creation for Autodesk shareholders.”
A complete chart of the financial results is available here.
Autodesk makes software for people who make things. If you’ve ever driven a high-performance car, admired a towering skyscraper, used a smartphone, or watched a great film, chances are you’ve experienced what millions of Autodesk customers are doing with our software. Autodesk gives you the power to make anything.
For more information visit autodesk.com.