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Strong Annualized Recurring Revenue (ARR) Growth Highlights Autodesk Fourth Quarter Results
SAN RAFAEL, Calif., March 6, 2018 /PRNewswire/ — Autodesk, Inc. (NASDAQ: ADSK) today announced its financial performance for the fourth quarter of fiscal 2018.
The company showed significant progress in its business model transformation, with robust ARR growth and a solid increase in subscription plan subscriptions. Here are the key highlights:
- **Subscription Plan ARR**: Reached $1.18 billion, reflecting a 106% increase year-over-year, both on a reported basis and on a constant currency basis.
- **Total ARR**: Increased to $2.05 billion, representing a 25% rise compared to the same period last year, both in reported and constant currency terms.
- **Subscription Plan Subscriptions**: Grew by 371,000 to reach 2.27 million, with 168,000 conversions from maintenance subscribers under the maintenance-to-subscription program.
- **Total Subscriptions**: Rose by 127,000 from the previous quarter to 3.72 million.
- **Deferred Revenue**: Increased to $1.96 billion, a 9% rise from the previous year, with unbilled deferred revenue totaling $326 million at the end of the quarter.
Andrew Anagnost, President and CEO of Autodesk, expressed optimism about the company's future, saying, "We're executing well on our business model transition and are poised to accelerate ARR growth next year. We saw a meaningful increase in ARPS and a better-than-expected conversion rate with the maintenance-to-subscription program."
Scott Herren, Autodesk's CFO, added, "We hit a major milestone where subscription plan ARR surpassed maintenance plan ARR for the first time. Our strong revenue and ARR growth, along with improved billings and deferred revenue, have generated better-than-expected cash flow from operations. This fiscal year has been another successful chapter, setting us up to achieve our 2020 goals for ARR growth and free cash flow."
The company also shared its financial outlook for fiscal 2019, including guidance on revenue, EPS, and subscription additions. Additionally, Autodesk will adopt the new revenue accounting standard, ASC 606, starting in the first quarter of fiscal 2019.
For more detailed insights into Autodesk's performance, refer to the full financial report and accompanying tables, available on the company's investor relations website.
Autodesk will hold a conference call today at 5:00 p.m. ET to discuss these results. The live broadcast can be accessed at [www.autodesk.com/investor](http://www.autodesk.com/investor). A replay will be available at the same site after 7:00 p.m. ET and will remain accessible for at least 12 months.
This press release also includes a glossary of key terms and a discussion of forward-looking statements, which involve risks and uncertainties. For more information on these factors, please refer to Autodesk's filings with the SEC.
About Autodesk:
Autodesk makes software for people who create the world around us. Whether it's designing cars, buildings, or crafting digital experiences, millions of customers rely on Autodesk's solutions to bring their visions to life. To learn more, visit [autodesk.com](https://www.autodesk.com/) or follow @autodesk on social media.
*Autodesk, AutoCAD, AutoCAD LT, BIM 360, and Fusion 360 are registered 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.*
**Disclaimer:** This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding future financial performance, business transitions, and expectations about market conditions. Actual results could differ materially from those anticipated due to various factors, some of which are outlined in Autodesk's SEC filings. The company disclaims any obligation to update these forward-looking statements.
*© 2018 Autodesk, Inc. All rights reserved.*