Autodesk announces Q1 for FY 2022

Autodesk has been concentrating on bringing its user base into compliance and building new business via the transition to digitalization. The company’s revenues increased 12% year-over-year to $989 million. CEO Andrew Anagnost credited the company’s “resilient subscription business model.” Autodesk CEO Andrew Anagnost says the company’s efforts to convert noncompliant users into paying customers resulted in Q1 license compliance billings almost doubling year-over-year. Interestingly though, Anagnost also mentioned in the company’s call to investors that Autodesk saw a decline in multi-year subscriptions pointing to a sense of caution on the part of companies as they come back from the pandemic.