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(1) Excluding the approximately $45 million impact of foreign currency exchange rates and hedge gains/losses, billings guidance would be $4,695 - $4,755 million. A reconciliation between the fourth quarter and fiscal 2022 GAAP and non-GAAP estimates is provided below or in the tables following this press release.
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The following are forward-looking statements based on current expectations and assumptions, and involve risks and uncertainties, some of which are set forth below under "Safe Harbor Statement." Autodesk's business outlook for the fourth quarter and full-year fiscal 2022 takes into consideration the current economic environment and foreign exchange currency rate environment. Our product offerings are focused in four primary product families: Architecture, Engineering and Construction ("AEC"), AutoCAD and AutoCAD LT, Manufacturing ("MFG"), and Media and Entertainment ("M&E").
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Free cash flow was $257 million, a decrease of $83 million compared to the third quarter last year.
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Total billings increased 16 percent to $1,168 million."However, supply chain disruption and resulting inflationary pressures, a global labor shortage, and the ebb and flow of COVID, are impacting the pace of our recovery and outlook." We expect it to remain so in Q4," said Debbie Clifford, Autodesk CFO. "Demand was robust in Q3, driving strong new subscriptions growth and renewal rates. "We are rapidly innovating and optimizing our business to enable more customers to experience our ecosystem, and realize the opportunities ahead." "Our customers continue to embrace and prioritize digital transformation to drive growth, efficiency and sustainability, generating strong demand for Autodesk's platform," said Andrew Anagnost, Autodesk president and CEO. Cash flow from operating activities was $270 million free cash flow was $257 million.GAAP diluted EPS was $0.61 Non-GAAP diluted EPS was $1.33.Non-GAAP operating margin was up 2 percentage points to 32 percent.GAAP operating margin was 17 percent, down 1 percentage point.Total revenue increased 18 percent to $1,126 million.Third Quarter Fiscal 2022 Financial Highlights For definitions, please view the Glossary of Terms later in this document. A reconciliation of GAAP to non-GAAP results is provided in the accompanying tables. (NASDAQ: ADSK) today reported financial results for the third quarter of fiscal 2022.Īll growth rates are compared to the third quarter of fiscal 2021, unless otherwise noted.