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SAN FRANCISCO, November 23, 2021 — Today, Autodesk, Inc. (NASDAQ: ADSK), a global leader in design and engineering software, announced its financial results for the third quarter of fiscal 2022. The report highlights strong growth across key financial metrics, reflecting the company's ongoing commitment to innovation and customer-centric solutions.
The accompanying press release features an image illustrating Autodesk's latest achievements, which can be viewed [here](http://bsg-i.nbxc.com/blog/c62e7a784cfeb6c0e6ae9dd06f0477ce.jpg). For context, all growth rates mentioned in the report are compared to the third quarter of fiscal 2021 unless otherwise specified. A detailed reconciliation of GAAP to non-GAAP results is provided in the accompanying tables, with definitions available in the Glossary of Terms section later in this document.
### Third Quarter Fiscal 2022 Financial Highlights:
- **Total Revenue**: Increased by 18% to reach $1,126 million.
- **GAAP Operating Margin**: Remained steady at 17%, down by 1 percentage point.
- **Non-GAAP Operating Margin**: Improved by 2 percentage points to 32%.
- **GAAP Diluted EPS**: Reported at $0.61, compared to $0.59 in the previous year.
- **Non-GAAP Diluted EPS**: Increased to $1.33, up from $1.04.
- **Cash Flow**: Generated $270 million in cash flow from operating activities and $257 million in free cash flow.
"Our customers continue to embrace digital transformation as a core strategy to drive growth, efficiency, and sustainability," remarked Andrew Anagnost, President and CEO of Autodesk. "We are accelerating our innovation efforts to ensure more customers can access our ecosystem and seize the opportunities ahead."
Debbie Clifford, Autodesk's Chief Financial Officer, added, "Demand remains robust in the third quarter, leading to strong new subscription growth and renewal rates. While we anticipate continued momentum in the fourth quarter, supply chain disruptions, inflationary pressures, and labor shortages are influencing our recovery trajectory."
### Additional Financial Details:
- **Total Billings**: Grew by 16% to $1,168 million.
- **Recurring Revenue**: Represents 97% of total revenue, growing by 21% year-over-year on a reported basis and 19% on a constant currency basis.
- **Design Revenue**: Reached $994 million, increasing by 17% year-over-year.
- **Make Revenue**: Surged by 23% year-over-year, both in reported and constant currency terms.
- **Maintenance Plan Revenue**: Declined by 56% year-over-year but showed a 4% sequential growth.
### Business Outlook:
Autodesk's guidance for the fourth quarter and full fiscal year 2022 reflects the current economic and currency environments. Key metrics include:
- **Fourth Quarter Revenue Guidance**: $1,185–$1,200 million.
- **EPS (GAAP)**: $0.71–$0.77.
- **EPS (Non-GAAP)**: $1.41–$1.47.
For the full year, Autodesk projects:
- **Billings**: $4,740–$4,800 million, representing an increase of 14%–16%.
- **Revenue**: $4,360–$4,375 million, up approximately 15%.
- **GAAP Operating Margin**: Approximately 15%.
- **Non-GAAP Operating Margin**: Approximately 31%.
- **Free Cash Flow**: $1,420–$1,460 million.
### Safe Harbor Statement:
This press release contains forward-looking statements that involve risks and uncertainties. Factors such as the ongoing impacts of the pandemic, geopolitical tensions, and technological advancements could significantly influence the company's financial performance. Further details on these risks are outlined in the company's SEC filings.
For a comprehensive understanding of Autodesk's financial performance, the company encourages investors to review its investor presentation, available at [investors.autodesk.com](https://www.autodesk.com/investors).
### About Autodesk:
Autodesk empowers creators to design and shape the world. Whether it’s a high-performance vehicle, a towering skyscraper, or a cutting-edge smartphone, millions of professionals rely on Autodesk’s software to bring their ideas to life. To learn more, visit [autodesk.com](https://www.autodesk.com) or follow @autodesk on social media.
This press release includes forward-looking statements that involve risks and uncertainties. Actual results may vary materially from those discussed. For more information, refer to the company's SEC filings and press releases.
**Copyright © 2021 Autodesk, Inc. All rights reserved.**
June 04, 2025