Autodesk has announced the company’s financial results for the first quarter of 2021. According to the financial details released by the company, the company’s total revenue increased up to 20% and reached $886 million. The company’s cash flow from operating activities reached $327 million.
The company’s operating margin increased up to 11 points and the company’s Non-GAAP operating margin reached at 10 points. The company’s total design revenue increased 20% and reached the figure of $798 million.
The Make revenue of the company increased 49% and reached to the figure of $67 million. The subscription plan of the company increased 35% and reached $803 million. The company’s Maintenance plan revenue decreased 45% and reached $62 million.
Chief Executive Officer and President of Autodesk, Inc, Andrew Anognost said, “We posted solid first quarter results. Our ability to succeed through challenging times is driven by our people, products, and technology and how they adapt to a rapidly changing world.”
“Our priorities in light of COVID-19 have been the well-being of our employees, the support of our customers, and the health of the communities we work in. I’m very proud of the impact we’ve made thanks to all the Autodesk employees who have embraced these efforts at every level. We have also maintained our focus on long-term opportunities and remain confident in our growth drivers and fiscal 2023 targets.” Andrew further added.
Chief Financial Officer at Audodesk, Inc., Scott Herren said, “Our resilient business model, backed by a strong balance sheet, gives us a sturdy foundation to weather ongoing economic challenges.”
“We posted strong revenue growth and continued to expand operating margin. Our investments in monetizing non-compliant users, construction and manufacturing will enable us to deliver double-digit growth in the near term as well as our long-term goals,” Scott Herren further added in his statement.