Autodesk Inc (NASDAQ:ADSK) Q1 2020 Earnings Conference Call Transcript

May 23, 2019 • 05:00 pm ET


Autodesk Inc (NASDAQ:ADSK) Q1 2020 Earnings Conference Call Transcript


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Good day, ladies and gentlemen and thank you for your patience. You've joined Autodesk First Quarter Fiscal 2020 Earnings Conference Call. At this time, all participants are in listen-only mode. Later, we'll conduct a question-and-answer session and instructions will be given at that time. (Operator Instructions)

As a reminder, this conference may be recorded. I would now like to turn the call over to host, VP of Investor Relations; Abhey Lamba. Sir, you may begin.

Abhey Lamba

Thanks, operator, and good afternoon. Thank you for joining our conference call to discuss the results of our first quarter of fiscal '20. On the line is Andrew Anagnost, our CEO; and Scott Herren, our CFO.

Today's conference call is being broadcast live via webcast. In addition, a replay of the call will be available at You can also find our earnings press release and a slide presentation on our website, we will also post a transcript of today's opening commentary on our website following this call.

During the course of this conference call, we may make forward-looking statements. These statements reflect our best judgment based on factors currently known to us. Actual events or results could differ materially. Please refer to our SEC filings for important risks and other factors that may cause our actual results to differ from those in our forward-looking statements.

Forward-looking statements made during the call are being made as of today. If this call is replayed or reviewed after today, the information presented during the call may not contain current or accurate information. Autodesk disclaims any obligation to update or revise any forward-looking statements.

During the call, we will quote a number of numeric or growth changes as we discuss our financial performance and unless otherwise noted, each such reference represents a year-on-year comparison.

And now, I would like to turn the call over to Andrew.

Andrew Anagnost

Thanks, Abhey. We started off fiscal '20 with great momentum, accentuated by continued acceleration of recent

construction acquisitions and strong growth across all geographic regions. Our billings and free cash flow came in at or above expectations and reflect the strength of our business. We are on track with the integration of PlanGrid and BuildingConnected and have exciting achievements to share with you.

Although, our first quarter revenue came in at the low end of our guidance range, we are on track to achieve our fiscal '20 ARR and free cash flow guidance and are reaffirming our fiscal '23 targets. Our pipeline for the rest of the year is strong and growing, and the underlying demand strength we've seen in prior quarters continues to drive growth in our business. There is no change to our view of the strength of the business or the current spending environment in our end markets.

Before I offer you more color on strategic highlights during the quarter, let me turn it over to Scott to give

you more details on our first quarter results as well as our guidance. I'll then return with further insights

into some