Autodesk, Inc. Q2 FY2025 results: revenue $1.5 billion, up 11.9% on the year

Autodesk, Inc. (ADSK) reported revenue of $1.5 billion for Q2 FY2025, the quarter ended 31 July 2024, up 11.9% on the same quarter a year earlier. Net income was $282 million, up 27.0% on the year, and diluted earnings per share $1.30. The figures are the company's own, from the 10-Q it filed with the SEC on 3 September 2024.

Revenue$1.5 billionup 11.9%

Net income$282 millionup 27.0%

Diluted EPS$1.30

QuarterQ2 FY2025ended 31 July 2024

The quarter, against the one before and a year earlier

Line	Q2 FY2025	Q1 FY2025	A year earlier	Change on the year
Revenue	1,505	1,417	n/a	n/a
Cost of revenue	140	137	n/a	n/a
Gross profit	1,365	1,280	n/a	n/a
Gross margin	90.7%	90.3%	n/a
Research and development	368	346	n/a	n/a
Operating income	343	299	n/a	n/a
Operating margin	22.8%	21.1%	n/a
Interest expense	18.0	18.0	n/a	n/a
Pre-tax income	352	309	n/a	n/a
Income tax	70.0	57.0	n/a	n/a
Effective tax rate	19.9%	18.4%	n/a
Net income	282	252	n/a	n/a
Net margin	18.7%	17.8%	n/a
Diluted EPS	$1.30	$1.16	n/a	n/a

$ million except per share. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q2 FY2025	Q1 FY2025	A year earlier	Change on the year
Operating cash flow	212	494	n/a	n/a
Capital expenditure	9.0	7.0	n/a	n/a
Free cash flow	203	487	n/a	n/a
Free cash flow margin	13.5%	34.4%	n/a
Depreciation and amortisation	46.0	40.0	n/a	n/a
Share-based compensation	170	149	n/a	n/a
Buybacks	111	9.0	n/a	n/a
Diluted shares, weighted	217m	217m	n/a	n/a
Shares outstanding at period end	215m	216m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q2 FY2025	Q1 FY2025	A year earlier	Change on the year
Total assets	9,960	9,830	n/a	n/a
Cash and equivalents	1,513	1,681	n/a	n/a
Receivables	402	353	n/a	n/a
Goodwill	4,253	4,133	n/a	n/a
Long-term debt	2,300	2,300	n/a	n/a
Borrowings, as the company tags them	1,986	2,285	n/a	n/a
Operating lease liabilities	250	263	n/a	n/a
Shareholders' equity	2,474	2,161	n/a	n/a

Quarterly results, the last 12 quarters

	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026	Q4 FY2026 *	Q1 FY2027	Q2 FY2027
Revenue	1,414	1,469	1,417	1,505	1,570	1,639	1,633	1,763	1,853	1,957	1,934	2,046
Cost of revenue	127	130	137	140	147	154	160	159	165	166	175	176
Gross profit	1,287	1,339	1,280	1,365	1,423	1,485	1,473	1,604	1,688	1,791	1,759	1,870
Gross margin	91%	91%	90%	91%	91%	91%	90%	91%	91%	92%	91%	91%
R&D	339	352	346	368	378	393	394	413	416	420	421	464
Operating income	334	315	299	343	346	366	233	444	470	431	541	599
Operating margin	24%	21%	21%	23%	22%	22%	14%	25%	25%	22%	28%	29%
Interest expense	n/a	n/a	18.0	18.0	18.0	17.0	18.0	19.0	22.0	21.0	21.0	n/a
Pre-tax income	320	337	309	352	351	372	234	456	468	445	599	593
Tax rate	25%	16%	18%	20%	22%	19%	35%	31%	27%	29%	18%	17%
Net income	241	282	252	282	275	303	152	313	343	316	491	492
Net margin	17%	19%	18%	19%	18%	18%	9%	18%	19%	16%	25%	24%
Diluted EPS	$1.12	$1.29	$1.16	$1.30	$1.27	$1.39	$0.70	$1.46	$1.60	$1.47	$2.32	$2.33
Operating cash flow	18.0	437	494	212	209	692	564	460	439	989	893	575
Capital expenditure	5.0	10.0	7.0	9.0	10.0	14.0	8.0	9.0	9.0	17.0	17.0	14.0
Free cash flow	13.0	427	487	203	199	678	556	451	430	972	876	561
Buybacks	114	65.0	9.0	111	323	409	354	358	359	331	448	453
Shares outstanding	214m	214m	216m	215m	215m	214m	214m	213m	212m	212m	211m	209m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 31 July 2024, filed 3 September 2024, accession 0000769397-24-000150: the filing on EDGAR. All of Autodesk, Inc.'s filings: EDGAR company page.

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