Autodesk (ADSK) Q3 2024 Earnings Breakdown

Key Highlights:

• Strong Revenue Growth: Total net revenue increased 11% to $1.57 billion for the quarter and 12% to $4.49 billion for the nine months ended October 31, 2024. This growth was primarily driven by subscription revenue.
• High Recurring Revenue: Recurring revenue represented 97% of total net revenue for both the three and nine months periods, reflecting the success of Autodesk's subscription model.
• Solid Net Revenue Retention Rate: The NR3, which measures year-over-year change in recurring revenue from existing customers, was within the range of 100% and 110%, indicating strong customer retention.
• Improved Profitability: Non-GAAP operating margin remained strong at 36% for both the three and nine months periods, demonstrating efficient cost management.