Black Friday 2024 is officially here! This is the moment we’ve all waited for and we’re finally shopping like it is our job. Because it is ! As we have with the last two Prime Days , our shopping and deals crew has rounded up the top items we’ve decided to buy this week during all of the big Black Friday deals . We’ve got a decade of experience with shopping online and watching Black Friday sales, so these are our predictions for products we expect to see on sale this week. Some of these hot-ticket items are also expected to sell out fast . We saw an early Black Friday Dyson Airwrap deal sell out in a day just a few weeks ago. Each member of the team has narrowed down some of the top coveted items we’re hoping to snag at a discounted rate during all of these Black Friday sales. New skincare from Paula’s Choice , Belif and BIODANCE I plan to restock my skincare lineup when Belif, BIODANCE, and Paula's Choice run their Black Friday deals. Amazon I’m Ana, the manager of the Content Innovation & Digital Growth team, and I am still trying to recover from the days of using St. Ive’s face wash and over-exfoliating my skin. I wait all year and snag everything during Black Friday or Prime Day to stock up on what I need. Black Friday always tends to be the best day to score the biggest deals on the brands I love, like Paula’s Choice , Belif , and BIODANCE . The big bottle of Paula’s Choice SKIN PERFECTING 2% BHA Liquid Salicylic Acid Exfoliant is normally a whopping $35, but for Black Friday it is down to $27. While Paula’s Choice has markdowns, I’ll also snag some of their C15 Super Booster (24% off) to help get rid of hyperpigmentation on my skin. I’ve read online these two are like a power duo to minimize the appearance of pores and help bring more life to your skin. These might just be buzzwords, but they’re working on me. For the last three Black Fridays, I’ve bought this belif The True Cream Moisturizing Eye Bomb for anywhere between 30% to 50% off and I plan to do the same in 2024. It always lasts me the full year, since I use it only at night and I’ve never had an issue with it in all of these years. It is perfect for my sensitive skin and keeps the skin around my eyes soft and smooth. I’ll probably pick up the brand’s Cooling Eye Gel for a morning pick-me-up since it is 34% off. As I’ve mentioned before, I am the TikTok-obsessed member of my team. That means I got sucked into trying BIODANCE Bio-Collagen Real Deep Mask , and the hype is real. This mask is like a breath of fresh air for my skin. It is so intensely hydrating, which means I need to snag as many discounted packs as I can get ahead of the cold winter months. A 4-pack is currently 32% off for Black Friday, while the 16-pack is 30% off. A new pair of HOKA Clifton 9 sneakers I'm hoping to score a great deal on the HOKA Clifton 9 during Black Friday sales this week. HOKA For me, Black Friday is typically a restock time. I don’t want a PS5 or a new TV, I want to replace my favorite things that desperately need it. I am a HOKA girlie and have been for years now. I’ve worn my Clifton 9 sneakers into the ground. Literally . The bottoms of my soles have officially worn out around the toes and I need to put my current pair to rest. I have a pair of Bondi 8 sneakers but have found those are better suited for my 30,000 step days in Disney World and my HOKA Clifton 9 sneakers are my preferred shoe for walks around my neighborhood and at my Rumble boxing classes. My current pair is just the classic Black/White colorway , and I want to restock those exact sneakers. But, if I were to see these on super sale, I’d be inclined to snag two pairs and get a new color as well, I’ve got my eye on the Sunlit Ocean / Lilac Mist and Frost / Rose Gold colorways. A slew of Amika hair products Another restock I plan to do for Black Friday is on Amika haircare, when the brand slashes prices by around 30% off. Amazon I wasn’t kidding that Black Friday has a recurring theme for me: restocking. The final thing I plan to restock is my Amika staples. I have been growing my hair out for years and it has been a success in large part due to investing in quality hair products, and Amika is a brand I’ve grown obsessed with over the last few years, but it comes with a hefty price tag. The Top 2 Amika products that I’m planning to grab when they go on sale are the Amika Hydro Rush Intense Moisture Leave-In Conditioner and Amika Soulfood Nourishing Mask . Both smell absolutely amazing and leave my hair feeling softer than ever. I tend to use the mask once a week and then use the leave-in conditioner every few days, I’d love to use it daily but at $29 per 200 ml, I try to conserve it. I’ve got my eye on the Amika Power Hour Curl Refreshing Spray to see if it goes on sale as well because I’m always on the hunt for a good curl product. Solo Stove Yukon Smokeless Fire Pit I plan to buy the Yukon Backyard Bundle while it is currently marked down by $290 for Black Friday. Solo Stove Hi, I’m Dawn, one of our team’s Shopping Tips & Deals writers and this is going to be a stellar year for Black Friday savings. I’m already seeing so many cheap sale prices, but I have my sights set on a few key items for the holidays. At the very top of my Black Friday shopping list is a Solo Stove Smokeless Fire Pit . This is a major splurge and I’d be remiss if I didn’t mention it’s been on the wishlist since summer. Our current fire pit burnt its last fire in early June and my husband and I’ve been mulling over a new one ever since. But unlike last time, we’re going big with the Solo Stove Yukon Smokeless Fire Pit . This fire pit carries a hefty price tag normally ($450) and if you decide to go with the Backyard Bundle like we are, it’ll cost you $940. But Solo Stove has big savings on its smokeless fire pits for Black Friday and the Yukon Backyard Bundle is $290 off, dropping its price to $650. Normally, I’d balk at the price but there are a few additional factors in this decision. First, the Yukon Backyard Bundle has everything (removable base plate, ash pan, shield, stand, lid, and shelter). So, instead of piecing all the accessories together afterward, you get them all in a bundle at a discounted price. Second, this fire pit is “smokeless,” and if you’ve ever seen the meme, no matter where I sit the smoke follows me. Yes, that is my superpower. Lastly, this fire pit has a lifetime warranty and I’m not buying another one ever again. The viral Orolay Down Jacket The Orolay Women's Thickened Down Jacket is 45% off on Amazon for Black Friday. Amazon More out of necessity than style, I’m grabbing the Viral Orolay Down Jacket for Black Friday. This viral jacket has sold out so many times on Amazon, I’ve lost count, but I’m expecting it to sell out again this year. The main reason this jacket is on my Black Friday wishlist is for warmth. I want a jacket that’s extremely warm to layer up with this winter. I am done freezing to get the mail, walk the dogs, take the garbage out, and run to my car in the snow and ice. I just want to be warm and this jacket looks like it will fit the bill. With over 28,000 positive ratings, the Orolay Down Jacket has become a fan favorite with its wind-resistant and waterproof design. It’s touted for its fleece-lined hood, numerous pockets, and fitted wristbands that keep the cold out. Reviewers have said, “Very warm, stylish, soft, and full of down for a cold winter,” and I hope when it arrives, I’ll agree. Currently, the Orolay Down Jacket is on sale for 45% off on Amazon, and I don’t expect it to creep any lower before the holidays. This one’s already in my cart in green. The kitchen essential Our Place Always Pan 2.0 The Always Pan is currently $55 off at Our Place for Black Friday. Our Place I waited a long time to finally decide that I needed and deserved the Our Place Always Pan . I’ve seen the commercials, read the articles, seen it in action online, and lusted over it on my social feed. But finally, I am giving into temptation and buying what I now consider an essential part of dinner planning and preparation. If you’re not familiar with the Always Pan , this famous pan replaces 10 pieces of cookware, including your fry pan, saute pan, steamer, roasting dish, baking dish, skillet, saucier, nonstick pan, spatula, and spoon rest. So, basically, this is the only pan you’ll ever need (or rather I’ll need) to cook with. This is also a viral product that has sold out multiple times since its release back in 2019. Now in its second generation, the Always Pan 2.0 has a toxic-free design, is oven-safe up to 450 degrees, and is just so nice to look at with a variety of colors to choose from. Thankfully, Our Place is having a Black Friday sale with the “lowest prices of the year” and the Always Pan 2.0 is now $95, instead of $150, for a savings of $55 off. So, this one is getting wrapped up under the tree just for me (in Spice). BÉIS best-selling luggage BÉIS luggage is at the top of my list, because I’ve written about the brand so many times, I know I finally need to join the party. BÉIS Hi, I’m Danielle, another Shopping & Commerce Writer on our Content Innovation team. To be completely honest, I’m not planning any huge frivolous Black Friday purchases this year because my husband and I spent a nice chunk of change on an end-of-year vacation for our 10-year wedding anniversary and we’re Christmas shopping for three kiddos already. I have a few things that I’d be happy to buy, though, if the price is too good to pass up. BÉIS luggage is at the top of my list because I’ve written about the brand so many times, I know I finally need to join the party. The last time we got new luggage was right before our wedding and, while the soft-side Samsonite 3-piece has served us well over the last decade, it’s high time we invested in some hard-shell suitcases. BÉIS has some of the sleekest carry-ons and check-in luggage around, and the neutral colors are trendy, but totally timeless, too. So, I’ve been thinking about snagging a Large Check-In Roller , a Medium Check-In Roller , and a Carry-On Roller for our family of five. BÉIS already has bundling offers where you can get 10% off when you combine two rollers and 15% off when you combine three rollers, but I’d love to see each piece 20-25% off for Black Friday, which would bring my total expense down by over $200 (reduced to well under $700). We’re thinking about a trip to Disney next year, so I might even take the opportunity to stock up on some kids’ luggage and backpacks for my little mousketeers , as well. The Real Life Play Kitchen from Lovevery At $300, this definitely isn’t a cheap gift, but Lovevery is offering up to 25% off sitewide / holiday bundle savings for Black Friday/Cyber Monday. Lovevery My youngest, who is two years old now, was a Lovevery baby through and through. He had Play Kits for every developmental stage, and we’ve passed everything down to my sister for her newborn to use as he grows up. Even my middle child, my little girl — who is 5 years old now — got an incredible amount of use out of her 4-year-old Play Kit last year. I have hyped the brand for years, telling parents, friends, and family members how amazing all of the playthings, books, and activity mats are, so I was so excited to hear about The Real Life Play Kitchen coming out. Designed for toddlers aged 18 months and older, this adorable pretend and practical play mini kitchen is a perfect Christmas present for my son — I can already picture it in the middle of his presents with a huge bow on it. What sets this play kitchen apart is its thoughtful design, which takes inspiration from always-popular water tables and trendy sensory bins. The sink has a gentle water flow and a spill-proof basin, so when the littles are playing, they won’t be making too big of a mess. The child-sized utensils and food-grade accessories, like a colander and cutting board, also lets toddlers and preschoolers mimic grown-up activities in a safe and scaled-down environment. Plus, the interchangeable colored and patterned backsplashes — six of them — add a personalized and highly aesthetic touch. I’m seriously obsessed with this kitchen because it’s not obnoxiously primary-colored or blaring with earworm-y songs or sounds and it encourages creativity and a sense of responsibility. I can imagine my little guy rinsing vegetables, chopping pretend food and drying dishes, and I can only hope those simple building blocks breed important life skills, cooperation and the concept of everyone in our family having a role and contributing. At $300, this definitely isn’t a cheap gift , but Lovevery is offering up to 25% off sitewide / holiday bundle savings for Black Friday/Cyber Monday. This first-time-ever move for the brand is knocking 10% off spends of $80+, 15% off spends of $125+, 20% off spends of $250 or more and 25% off spends of $500 or more. So, I can get the kitchen for $240, instead $300, through Dec. 8! Beekman 1802 Bloom Cream Daily Face Moisturizer Right now, the Jumbo Bottle is 35% off — $82, down from $108 — but if Black Friday brought an additional 10-15% off in discounts, I’d be sold. Beekman 1802 During this time of year, my hands are usually dry, red, and cracked. And I’ve used every hand lotion and body moisturizer out there to fix the problem, from Kiehl’s and CeraVe to Aveeno and Aesop. I honestly just tried Beekman to placate my mom, who couldn’t stop talking about how great “the goat’s milk beauty products” were, but after only a few days of using the Wicked Defy Gravity Whipped Body Cream (which I was, fortunately, able to sample ahead of the “Wicked” premiere), my hands were changed for the better — well, for the best, really. My skin has never felt softer and more youthful, and I’m a TOTAL convert now. Not only has this whipped body cream gone on without a greasy after feel, but it also absorbs instantly, and it leaves my hands smelling like fruity pebbles in the best way, thanks to the sweet Elphaba-inspired gourmand scent. I’m obsessed with this fluffy paraben and sulfate-free rich goat milk and creamy butter salve, and I’ll be heartbroken when the container is wiped clean. So, I plan on replenishing the “Elphie lotion mommy loves!” and also stocking up on some other hero body creams . While I’m at it, I’d also love to try Beekman’s famous Bloom Cream Daily Face Moisturizer with moisturizing goat’s milk, hydrating and pore-minimizing niacinamide. The company says this bestselling “elegant, lightweight formula is designed to work on all skin types and it literally blooms out of the bottle with every pump.” And if it works in any way like the Whipped Body Cream, then I will become a customer for life. Right now, the Jumbo Bottle is 35% off — $82, down from $108 — but if Black Friday brought an additional 10-15% off in discounts, I’d be sold. TCL 50-Inch Class S5 UHD 4K LED Smart TV with Fire TV (2024 Model) Amazon has the TCL 55" TV on sale of the lowest price of the year for Black Friday. Amazon I’m Victoria Rosenthal, associate editor for SEO/commerce on the Content Innovation Team. My TV is a relic from my college years. Despite it being an old geezer, it has withstood the test of time — 12 years to be exact. This 21-inch Samsung flat-screen has seen it all: all-nighters, breakups, procrastination, (not great) dorm room dance practice, Beyonce’s Super Bowl Halftime Show, the whole final season of “Breaking Bad.” Although this baby has been at my side for over a decade, it’s time for an upgrade. That upgrade won’t be so difficult or pricey since I’m going with the latest model of the TCL 50-inch Class S5 UHD 4K LED Smart TV with Fire TV . It’s a big enough size for a bedroom with a renter-friendly footprint. It has enhanced visuals and sound thanks to its 4K UltraHD resolution screen, Dolby Atmos Audio, and Enhanced Dialogue Mode for more intelligible and clear audio. Plus, I can actually enjoy playing video games with my Nintendo Switch , FireTV Stick with the Xbox Game Pass app, PlayStation 2, and PS4 on this larger TV in Auto Game Mode. It automatically turns on when you hook up a gaming console and uses the lowest possible input lag and latency for improved gameplay. It already has a 4-star rating on Amazon and a 4.2-star rating at Best Buy . And you can’t beat Amazon’s Black Friday deal that gives you 23% off, bringing the price down from $300 to $230. As a replacement for my beloved college TV, this one might be a winner. Ticket to Ride Board Game Amazon has “Ticket to Ride” on sale for $25 during its Black Friday sale. Amazon As a board and card game fan, I love trying out as many of them as possible. My favorites range from “13 Dead End Drive” and “Exploding Kittens” to “Jumanji” and “Nightmare The Video Board Game.” But one game I’ve always wanted to play more is “Ticket to Ride.” After playing it once in a board game café, I was hooked. A board game that’s meant to transport you into another world, time, or dimension and immerse you in the story will always be added to my cart. While going cross country to claim the most train lines and points, the competition, strategy, and fast pace bring excitement to the game, unlike some slow-burn titles that one might call boring (cough cough, “Monopoly” ). “Ticket to Ride” is easy to learn so anyone can quickly understand the gameplay and join in. Also, there’s a feature where Amazon Alexa can act as a player for a more immersive experience. She can keep track of gameplay and points and add atmospheric sound effects and music that transports you back to 1910 in the United States. Because of its $55 price point, I’ve always been hesitant to spend that kind of money on a board game. But now that Amazon has “ Ticket to Ride ” on sale for $25 during its Black Friday sale, that’s over half off the retail price. I have no reason not to buy it! The Best Black Friday Deals in 2024 Walmart, Amazon and Target have Nintendo Switch Black Friday deals up to $75 off — but they’re selling out lightning fast Nordstrom Rack’s Black Friday deals have the best ‘Flash Sale’ markdowns on handbags, hair tools, luggage and more Dick’s Sporting Goods Black Friday sale has HOKA, Nike, New Balance, more top sneakers up to 50% off — but only for a limited time Dyson just dropped all of its Black Friday deals, including $100 off the Airwrap and these sales won’t last for long Walmart has the Apple Watch SE 2 on sale for only $149 in a can’t-miss Black Friday dealMINNEAPOLIS — Alperen Sengun had 22 points, 10 rebounds and 11 assists, Fred VanVleet added 27 points and 11 assists, and the Houston Rockets pulled out a 117-111 overtime win against the Minnesota Timberwolves in an NBA Cup game on Tuesday night. Dillon Brooks added 22 points for Houston, which improved to 3-0 in the competition and clinched West Group A and a spot in the NBA Cup quarterfinals. Anthony Edwards had 29 points and 10 rebounds for Minnesota, which has lost three in a row. Julius Randle scored 21, while Naz Reid had 19 off the bench. Rookie Rob Dillingham, the No. 8 pick in the draft out of Kentucky, had his best game of the season, helping to fill the void left by point guard Mike Conley, who missed his third straight game with a left great toe sprain. Dillingham had 12 points and season highs with seven assists and five rebounds. Takeaways Rockets: This young team has shown it’s for real, particularly on the defensive end. It had 12 steals, nine blocks and forced the Wolves into 17 turnovers that led to 16 points. Timberwolves: Regardless of the loss, Minnesota needed this type of performance after back-to-back losses and a narrow win over Phoenix, which was without Kevin Durant and Bradley Beal. Key moment With 15 seconds left in regulation, Sengun got a pass on a drive to the basket for a potential layup, but Gobert came across for the block to keep the score tied. Edwards’ jumper on the other end was off the mark and the game went to overtime. Houston Rockets forward Jabari Smith Jr. (10) and Minnesota Timberwolves forward Jaden McDaniels (3) fight for the ball during the first half of an Emirates NBA cup basketball game, Tuesday, Nov. 26, 2024, in Minneapolis. Credit: AP/Abbie Parr Key stat Houston shot 15 of 37 from 3-point territory, including a 10 of 18 in the first half to build its lead. UP NEXT Both teams were playing the first game of a back-to-back set. Houston plays at Philadelphia on Wednesday night, while the Wolves stay home against Sacramento.
Notable quotes by Jimmy Carter
- Raising the mid-points of billings, revenue, margins, earnings per share, and free cash flow guidance ranges. - Janesh Moorjani appointed as chief financial officer. SAN FRANCISCO , Nov. 26, 2024 /PRNewswire/ -- Autodesk, Inc. (NASDAQ: ADSK) today reported financial results for the third quarter of fiscal 2025. All growth rates are compared to the third quarter of fiscal 2024, unless otherwise noted. A reconciliation of GAAP to non-GAAP results is provided in the accompanying tables. For definitions, please view the Glossary of Terms later in this document. Third Quarter Fiscal 2025 Financial Highlights "Autodesk is leading the industry in modernizing its go-to-market motion. These initiatives enable us to build larger and more durable direct relationships with our customers and to serve them more efficiently. We have already seen significant benefits from these optimization initiatives and there's more to come in the next phase," said Andrew Anagnost , Autodesk president and CEO. "We will continue to deploy capital to offset and buy forward dilution, a practice which has reduced our share count over the last three years, and have significantly extended the duration of our repurchase program by increasing our stock repurchase authorization. Our goal is to deliver sustainable shareholder value over many years." "We generated broad-based underlying growth across products and regions. Overall, macroeconomic, policy, and geopolitical challenges, and the underlying momentum of the business, were consistent with the last few quarters with continued strong renewal rates and headwinds to new business growth," said Betsy Rafael , Autodesk interim CFO. "Given Autodesk's sustained momentum in the third quarter, and smooth launch of the new transaction model in Western Europe , we are raising the midpoints of our billings, revenue, margins, earnings per share, and free cash flow guidance ranges." Additional Financial Details Third Quarter Fiscal 2025 Business Highlights Net Revenue by Geographic Area Three Months Ended October 31, 2024 Three Months Ended October 31, 2023 Change compared to prior fiscal year Constant currency change compared to prior fiscal year (In millions, except percentages) $ % % Net Revenue: Americas U.S. $ 579 $ 520 $ 59 11 % * Other Americas 126 120 6 5 % * Total Americas 705 640 65 10 % 11 % EMEA 580 516 64 12 % 13 % APAC 285 258 27 10 % 14 % Total Net Revenue $ 1,570 $ 1,414 $ 156 11 % 12 % ____________________ * Constant currency data not provided at this level. Net Revenue by Product Family Our product offerings are focused in four primary product families: Architecture, Engineering and Construction ("AEC"), AutoCAD and AutoCAD LT, Manufacturing ("MFG"), and Media and Entertainment ("M&E"). Three Months Ended October 31, 2024 Three Months Ended October 31, 2023 Change compared to prior fiscal year (In millions, except percentages) $ % AEC $ 751 $ 675 $ 76 11 % AutoCAD and AutoCAD LT 398 372 26 7 % MFG 307 269 38 14 % M&E 83 73 10 14 % Other 31 25 6 24 % Total Net Revenue $ 1,570 $ 1,414 $ 156 11 % Business Outlook The following are forward-looking statements based on current expectations and assumptions, and involve risks and uncertainties, some of which are set forth below under "Safe Harbor Statement." Autodesk's business outlook for the fourth quarter and full-year fiscal 2025 considers the current economic environment and foreign exchange currency rate environment. A reconciliation between the fiscal 2025 GAAP and non-GAAP estimates is provided below or in the tables following this press release. Fourth Quarter Fiscal 2025 Q4 FY25 Guidance Metrics Q4 FY25 (ending January 31, 2025) Revenue (in millions) $1,623 - $1,638 EPS GAAP $1.21 - $1.27 EPS non-GAAP (1) $2.10 - $2.16 ____________________ (1) Non-GAAP earnings per diluted share excludes $0.85 related to stock-based compensation expense, $0.17 for the amortization of both purchased intangibles and developed technologies, and $0.05 for acquisition-related costs, partially offset by ($0.18) related to GAAP-only tax charges. Full Year Fiscal 2025 FY25 Guidance Metrics FY25 (ending January 31, 2025) Billings (in millions) $5,900 - $5,980 Up 14% - 15% Revenue (in millions) (1) $6,115 - $6,130 Up approx. 11% GAAP operating margin 21.5% - 22% Non-GAAP operating margin (2) 35.5% - 36% EPS GAAP $4.95 - $5.01 EPS non-GAAP (3) $8.29 - $8.35 Free cash flow (in millions) (4) $1,470 - $1,500 ____________________ (1) Excluding the impact of foreign currency exchange rates and hedge gains/losses, revenue guidance range would be approximately 1 percentage point higher. (2) Non-GAAP operating margin excludes approximately 11% related to stock-based compensation expense, approximately 2% for the amortization of both purchased intangibles and developed technologies, and approximately 1% related to acquisition-related costs. (3) Non-GAAP earnings per diluted share excludes $3.15 related to stock-based compensation expense, $0.61 for the amortization of both purchased intangibles and developed technologies, $0.23 related to acquisition-related costs, and $0.04 related to losses on strategic investments, partially offset by ($0.69) related to GAAP-only tax charges. (4) Free cash flow is cash flow from operating activities less approximately $30 million of capital expenditures. The fourth quarter and full-year fiscal 2025 outlook assume a projected annual effective tax rate of 20 percent and 19 percent for GAAP and non-GAAP results, respectively. Shifts in geographic profitability continue to impact the annual effective tax rate due to significant differences in tax rates in various jurisdictions. Therefore, assumptions for the annual effective tax rate are evaluated regularly and may change based on the projected geographic mix of earnings. Earnings Conference Call and Webcast Autodesk will host its third quarter conference call today at 5 p.m. ET . The live broadcast can be accessed at autodesk.com/investor . A transcript of the opening commentary will also be available following the conference call. A replay of the broadcast will be available at 7 p.m. ET at autodesk.com/investor . This replay will be maintained on Autodesk's website for at least 12 months. Investor Presentation Details An investor presentation, Excel financials and other supplemental materials providing additional information can be found at autodesk.com/investor . Key Performance Metrics To help better understand our financial performance, we use several key performance metrics including billings, recurring revenue and net revenue retention rate. These metrics are key performance metrics and should be viewed independently of revenue and deferred revenue. These metrics are not intended to be combined with those items. We use these metrics to monitor the strength of our recurring business. We believe these metrics are useful to investors because they can help in monitoring the long-term health of our business. Our determination and presentation of these metrics may differ from that of other companies. The presentation of these metrics is meant to be considered in addition to, not as a substitute for or in isolation from, our financial measures prepared in accordance with GAAP. Glossary of Terms Billings: Total revenue plus the net change in deferred revenue from the beginning to the end of the period. Cloud Service Offerings : Represents individual term-based offerings deployed through web browser technologies or in a hybrid software and cloud configuration. Cloud service offerings that are bundled with other product offerings are not captured as a separate cloud service offering. Constant Currency (CC) Growth Rates: We attempt to represent the changes in the underlying business operations by eliminating fluctuations caused by changes in foreign currency exchange rates as well as eliminating hedge gains or losses recorded within the current and comparative periods. We calculate constant currency growth rates by (i) applying the applicable prior period exchange rates to current period results and (ii) excluding any gains or losses from foreign currency hedge contracts that are reported in the current and comparative periods. Design Business: Represents the combination of maintenance, product subscriptions, and all EBAs. Main products include, but are not limited to, AutoCAD, AutoCAD LT, Industry Collections, Revit, Inventor, Maya and 3ds Max. Certain products, such as our computer aided manufacturing solutions, incorporate both Design and Make functionality and are classified as Design. Enterprise Business Agreements (EBAs): Represents programs providing enterprise customers with token-based access to a broad pool of Autodesk products over a defined contract term. Flex: A pay-as-you-go consumption option to pre-purchase tokens to access any product available with Flex for a daily rate. Free Cash Flow: Cash flow from operating activities minus capital expenditures. Industry Collections: Autodesk Industry Collections are a combination of products and services that target a specific user objective and support a set of workflows for that objective. Our Industry Collections consist of: Autodesk Architecture, Engineering and Construction Collection, Autodesk Product Design and Manufacturing Collection, and Autodesk Media and Entertainment Collection. Maintenance Plan: Our maintenance plans provide our customers with a cost effective and predictable budgetary option to obtain the productivity benefits of our new releases and enhancements when and if released during the term of their contracts. Under our maintenance plans, customers are eligible to receive unspecified upgrades when and if available, and technical support. We recognize maintenance revenue over the term of the agreements, generally one year. Make Business: Represents certain cloud-based product subscriptions. Main products include, but are not limited to, Assemble, Autodesk Build, BIM Collaborate Pro, BuildingConnected, Fusion, and Flow Production Tracking. Certain products, such as Fusion, incorporate both Design and Make functionality and are classified as Make. Net Revenue Retention Rate (NR3): Measures the year-over-year change in Recurring Revenue for the population of customers that existed one year ago ("base customers"). Net revenue retention rate is calculated by dividing the current quarter Recurring Revenue related to base customers by the total corresponding quarter Recurring Revenue from one year ago. Recurring Revenue is based on USD reported revenue, and fluctuations caused by changes in foreign currency exchange rates and hedge gains or losses have not been eliminated. Recurring Revenue related to acquired companies, one year after acquisition, has been captured as existing customers until such data conforms to the calculation methodology. This may cause variability in the comparison. Other Revenue: Consists of revenue from consulting, and other products and services, and is recognized as the products are delivered and services are performed. Product Subscription: Provides customers a flexible, cost-effective way to access and manage 3D design, engineering, and entertainment software tools. Our product subscriptions currently represent a hybrid of desktop and cloud functionality, which provides a device-independent, collaborative design workflow for designers and their stakeholders. Recurring Revenue: Consists of the revenue for the period from our traditional maintenance plans, our subscription plan offerings, and certain Other revenue. It excludes subscription revenue related to third-party products. Recurring revenue acquired with the acquisition of a business is captured when total subscriptions are captured in our systems and may cause variability in the comparison of this calculation. Remaining Performance Obligations (RPO): The sum of total short-term, long-term, and unbilled deferred revenue. Current remaining performance obligations is the amount of revenue we expect to recognize in the next twelve months. Solution Provider : Solution Provider is the name of our channel partners who primarily serve our new transaction model customers worldwide. Solution Providers may also be resellers in relation to Autodesk solutions. Spend : The sum of cost of revenue and operating expenses. Subscription Plan: Comprises our term-based product subscriptions, cloud service offerings, and EBAs. Subscriptions represent a combined hybrid offering of desktop software and cloud functionality which provides a device-independent, collaborative design workflow for designers and their stakeholders. With subscription, customers can use our software anytime, anywhere, and get access to the latest updates to previous versions. Subscription Revenue: Includes our cloud-enabled term-based product subscriptions, cloud service offerings, and flexible EBAs. Unbilled Deferred Revenue: Unbilled deferred revenue represents contractually stated or committed orders under early renewal and multi-year billing plans for subscription, services, and maintenance for which the associated deferred revenue has not been recognized. Under FASB Accounting Standards Codification ("ASC") Topic 606, unbilled deferred revenue is not included as a receivable or deferred revenue on our Condensed Consolidated Balance Sheet. Safe Harbor Statement This press release contains forward-looking statements that involve risks and uncertainties, including quotations from management, statements in the paragraphs under "Business Outlook" above statements about our short-term and long-term goals, statements regarding our strategies, market and product positions, performance and results, and all statements that are not historical facts. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: our strategy to develop and introduce new products and services and to move to platforms and capabilities, exposing us to risks such as limited customer acceptance (both new and existing customers), costs related to product defects, and large expenditures; global economic and political conditions, including changes in monetary and fiscal policy, foreign exchange headwinds, recessionary fears, supply chain disruptions, resulting inflationary pressures and hiring conditions; geopolitical tension and armed conflicts, and extreme weather events; costs and challenges associated with strategic acquisitions and investments; our ability to successfully implement and expand our transaction model; dependency on international revenue and operations, exposing us to significant international regulatory, economic, intellectual property, collections, currency exchange rate, taxation, political, and other risks, including risks related to the war against Ukraine launched by Russia and our exit from Russia and the current conflict between Israel and Hamas; inability to predict subscription renewal rates and their impact on our future revenue and operating results; existing and increased competition and rapidly evolving technological changes; fluctuation of our financial results, key metrics and other operating metrics; our transition from up front to annual billings for multi-year contracts; deriving a substantial portion of our net revenue from a small number of solutions, including our AutoCAD-based software products and collections; any failure to successfully execute and manage initiatives to realign or introduce new business and sales initiatives, including our new transaction model for Flex; net revenue, billings, earnings, cash flow, or new or existing subscriptions shortfalls; social and ethical issues relating to the use of artificial intelligence in our offerings; our ability to maintain security levels and service performance meeting the expectations of our customers, and the resources and costs required to avoid unanticipated downtime and prevent, detect and remediate performance degradation and security breaches; security incidents or other incidents compromising the integrity of our or our customers' offerings, services, data, or intellectual property; reliance on third parties to provide us with a number of operational and technical services as well as software; our highly complex software, which may contain undetected errors, defects, or vulnerabilities; increasing regulatory focus on privacy issues and expanding laws; governmental export and import controls that could impair our ability to compete in international markets or subject us to liability if we violate the controls; protection of our intellectual property rights and intellectual property infringement claims from others; the government procurement process; fluctuations in currency exchange rates; our debt service obligations; and our investment portfolio consisting of a variety of investment vehicles that are subject to interest rate trends, market volatility, and other economic factors. Our estimates as to tax rate are based on current interpretations of existing tax law and could be affected by changing interpretations, further guidance, and additional tax legislation. Further information on potential factors that could affect the financial results of Autodesk are included in Autodesk's Form 10-K and subsequent Forms 10-Q, which are on file with the U.S. Securities and Exchange Commission. Autodesk disclaims any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made. About Autodesk The world's designers, engineers, builders, and creators trust Autodesk to help them design and make anything. From the buildings we live and work in, to the cars we drive and the bridges we drive over. From the products we use and rely on, to the movies and games that inspire us. Autodesk's Design and Make Platform unlocks the power of data to accelerate insights and automate processes, empowering our customers with the technology to create the world around us and deliver better outcomes for their business and the planet. For more information, visit autodesk.com or follow @autodesk. #MakeAnything Autodesk uses its investors.autodesk.com website as a means of disclosing material non-public information, announcing upcoming investor conferences and for complying with its disclosure obligations under Regulation FD. Accordingly, you should monitor our investor relations website in addition to following our press releases, SEC filings and public conference calls and webcasts. Autodesk, AutoCAD, AutoCAD LT, BIM 360 and Fusion 360 are trademarks of Autodesk, Inc., and/or its subsidiaries and/or affiliates in the USA and/or other countries. All other brand names, product names or trademarks belong to their respective holders. Autodesk reserves the right to alter product and service offerings, and specifications and pricing at any time without notice, and is not responsible for typographical or graphical errors that may appear in this document. © 2024 Autodesk, Inc. All rights reserved. Autodesk, Inc. Condensed Consolidated Statements of Operations (In millions, except per share data) Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 (Unaudited) (Unaudited) Net revenue: Subscription $ 1,457 $ 1,314 $ 4,195 $ 3,777 Maintenance 9 12 31 40 Total subscription and maintenance revenue 1,466 1,326 4,226 3,817 Other 104 88 266 211 Total net revenue 1,570 1,414 4,492 4,028 Cost of revenue: Cost of subscription and maintenance revenue 105 94 305 285 Cost of other revenue 19 21 57 62 Amortization of developed technologies 23 12 62 34 Total cost of revenue 147 127 424 381 Gross profit 1,423 1,287 4,068 3,647 Operating expenses: Marketing and sales 525 439 1,474 1,344 Research and development 378 339 1,092 1,021 General and administrative 161 165 477 438 Amortization of purchased intangibles 13 10 37 31 Total operating expenses 1,077 953 3,080 2,834
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