Autodesk Sprints Ahead with 12% Revenue Growth and Raised Full Year Guidance
Autodesk, a leading software company for the architecture, engineering, construction (AEC), product design, manufacturing, media, education, clean tech, and healthcare industries, has delivered another strong quarter. The company's third-quarter financial results have shown a 12% revenue growth in constant currency, beating expectations and demonstrating sustained momentum.
During an investor call on November 26, 2024, Andrew Anagnost, CEO of Autodesk, expressed confidence in the company's strategy and execution. "We finished the third quarter of the year strongly, delivering 12% revenue growth in constant currency and have again raised full year guidance," he said.
This achievement reflects Autodesk's ability to capitalize on secular growth opportunities, invest in cloud, platform, and AI technologies, and modernize its go-to-market motion. The company has seen significant benefits from initiatives such as subscription transition, consumption enablement, self-service enablement, and direct billing, which have enabled it to build larger and more durable direct relationships with customers and serve them more efficiently.
A notable highlight of the quarter was Autodesk University (AU), which took place in San Diego last month. The event attracted 12,000 registered attendees and another 30,000 online, demonstrating the company's ability to connect its customers and partners through APIs and deliver valuable solutions. Anagnost noted that customers and channel partners who attended AU remain cautiously optimistic about the future.
Autodesk has also made progress in modernizing its transaction model, which will enable tighter channel partnerships with less duplication of effort and more digital self-service and automation. This new model is expected to create new opportunities for partners and Autodesk to earn more with a greater emphasis on value creation for customers.
As a result of these efforts, Autodesk expects to be towards the midpoint of its fiscal '26 non-GAAP operating margin target of 38% to 40% in fiscal '25, a year ahead of schedule. The company is confident that it will make further improvement in fiscal '26 on the same basis.
With attractive long-term secular growth markets, a focused strategy delivering evermore valuable and connected solutions to customers, and a resilient business, Autodesk is generating strong and sustained momentum both in absolute terms and relative to peers. The company's disciplined execution and capital deployment have driven even greater operational velocity and efficiency within Autodesk.
Autodesk has shown that it is leading the industry in its commitment to cloud, platform, and AI technologies. The company's pursuit of secular growth opportunities and modernization of its go-to-market motion have positioned it well for future success. With a strong track record of innovation and execution, Autodesk is likely to continue delivering impressive results.
Autodesk has raised full year guidance following a 12% revenue growth in constant currency. This achievement demonstrates the company's sustained momentum and confidence in its strategy and execution. As the company continues to invest in cloud, platform, and AI technologies, it is well-positioned for future success."
