Autodesk Inc (NASDAQ:ADSK) Q3 2020 Earnings Conference Call - Final Transcript

Nov 26, 2019 • 05:00 pm ET


Autodesk Inc (NASDAQ:ADSK) Q3 2020 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by and welcome Autodesk Third Quarter Fiscal Year 2020 Earnings Conference Call. At this time, all participants' lines are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded. [Operator Instructions]

I would now like to hand the conference over to your speaker today, Mr. Abhey Lamba, Vice President of Investor Relations. Please go ahead, sir.

Abhey Lamba

Thanks, operator, and good afternoon. Thank you for joining our conference call to discuss the results of our third 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 Investor Relations website. And 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 about our outlook, future results and strategies. 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 represent a year-on-year comparison. All non-GAAP numbers referenced in today's call are reconciled in the press release or slide presentation on our Investor Relations website.

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

Andrew Anagnost

Thanks, Abhey. Building on our strong performance in Q2, we delivered another quarter of solid execution and results, with revenue, billings, ARR, earnings and free cash flow coming in ahead of expectations. For the first time, we delivered over $1 billion in quarterly buildings outside of a fourth quarter and our last 12 months free cash flow came in at nearly $1 billion, breaking yet another company record.

Broad-based strength across our entire product portfolio in all geographic regions drove these results. We have strong momentum in construction, are gaining share in manufacturing and we continue to make strides in converting the non-paying user-base.

Before we dig into details from the quarter, I want to recognize the hard work put in by the entire Autodesk team, especially our colleagues in the Bay Area who ensured that our business did not experience any disruptions despite our San Rafael office and many employees homes being without power due to wildfires in