Autodesk Inc (NASDAQ:ADSK) Q1 2016 Earnings Conference Call - Final Transcript
May 19, 2015 • 05:00 pm ET
Gregg Moskowitz, Cowen and Company.
Okay thank you very much, and apologize for any background noise. Just first question, wondering how much of a benefit to Q1 billings, if there is any way to size this? Carl, it just came from the upgrade extension that existed through early March?
Not a huge amount. We saw a little bit of pull-through at the beginning of the quarter, from the end of the previous quarter. So I think -- but it was not substantial.
Okay. And then we've obviously spoken with some of your customers and partners, but I'm curious what you are hearing anecdotally just in terms of feedback from them with regards to the recently announced perpetual licensing changes?
So, what we've seen -- I mean the changes just went to effect very recently. So I don't think it's reached the end customer to any significant degree. The partners are first starting to get ready for it. Like we said, we had almost no promotions in Q1. We wanted to digest what went on at the end of last year and get people ready for this three quarter March to the -- ending license sales.
So, I think it will take probably another month or two until we really see what the reaction from the customers are. But generally speaking, they've been favorable and most of the results point that way. Do you have anything to add, Scott?
R. Scott Herren
Yeah. Gregg, one of the things that is encouraging on that front is if you look at the 95,000 subscription adds we had in Q1, about half of them came from the new model types. So, there is -- we are building pretty good acceptance in the early days at least on the new model types.
Brent Thill, UBS.
Good afternoon. Just a question on the guidance and I want to make sure we understand this correctly. You left your constant currency guidance for the full year unchanged, but you talked about this unevenness and I know you've changed your, as reported guide due to FX. But beyond the FX, is there something that's making you more nervous as you look at the economy, you talk about this unevenness and I think everyone in Japan has had issues.
But, what -- you did leave your constant currency unchanged. So I'm just curious is there some inconsistent statements that you're making in terms of how you're thinking about as it relates to the guidance?
So, let me put things on both sides of the ledger. Generally, I feel good is, as Scott just said, about the transition to the new model and most parts of the world seem to be doing well. And in that way, our plans are unchanged. If you wanted me to rank my first budget, number one on my first budget would be FX; number two would be Japan; and number three would be Russia and I don't think the list really goes longer than that.
Those are the