Autodesk, Inc.

Thank you for standing by. Simon May-Smith, VP, Investor Relations. Please go ahead.

Thanks, Operator, and good afternoon. Thank you for joining our conference call to discuss the results of our first quarter fiscal year 2022. On the line with me are Andrew Anagnost, our CEO, and Debbie Clifford, our Chief Financial Officer. Today's conference call is being broadcast live via webcast. In addition, a replay of the call will be available at autodesk.com forward slash investor. You can find the earnings press release, slide presentation, and and transcript of today's opening commentary on our investor relations website following this call. During the course of this call, we may make forward-looking statements about our outlook, future results and related assumptions, acquisitions, products and product capabilities, and strategies. These statements reflect our best judgment based on currently known factors. Actual events or results could differ materially. Please refer to our SEC filings, including our most recent Form 10-K, for important risks and other factors, including developments in the COVID-19 pandemic and the resulting impact on our business and operations 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 numerical growth changes as we discuss our financial performance. And, unless otherwise noted, each such reference represents a year-on-year comparison. All non-GAAP numbers referenced in today's call are reconciled in our press release or Excel financials and other supplemental materials available on our investor relations website. And now, I will turn the call over to Andrew.

Thank you, Simon, and welcome everyone to the call. I hope you and your families remain safe and healthy. Now, while parts of the world emerge from the pandemic, others are entering the eye of the storm. I especially want to acknowledge our colleagues, family, and friends in India. We are thinking about you, and we are helping wherever we can. Thank you to all our employees and their families, our partners, and customers for their continued resilience, patience, and commitment. Our first quarter marks an important inflection point. While solid execution, a resilient subscription business model, and continued secular shift to the cloud underpinned our strong first quarter results, waning uncertainty and growing confidence in our end markets generated momentum. Robust growth in new product subscriptions, combined with improving usage and renewal rates, accelerated billings and RPO growth to 10% and 22% respectively. Together, these reinforce our confidence that we are through the revenue growth trough and on track to achieve our fiscal 22 and 23 goals. In mid-May, we completed the acquisition of Upchain, a cloud-native product data and lifecycle management solution. Combined with existing Autodesk offerings like Fusion 360, Upchain will profoundly simplify data sharing and collaboration for engineers, manufacturers, suppliers, and other product stakeholders, enabling customers to bring products to market faster and build a stronger supply chain. Its next-generation platform enables it to be rapidly deployed, scaled, maintained, and updated without the expensive, inflexible, and time-consuming integrations of legacy systems. We will grow UpChain through our enterprise and channel partnerships, and expected to become a meaningful on-ramp for legacy design tools to the Fusion 360 Cloud ecosystem and facilitate further expansion into adjacent verticals. As we highlighted in our recently published impact report, the convergence of design and make brings both greater efficiency and sustainability to buildings and a broad range of manufactured goods, stretching from EVs and bicycles to high-performance skis and low-cost ventilators. While we are enabling customers to achieve their sustainability targets, we continue to lead by example, reaching our carbon-neutral goal across our business and value chain in fiscal 21. The report also sets out new diversity, equity, and inclusion goals. And while I'm proud that 50% of our desk board and 45% of our executive team are women, we can and will do more, both internally and through partnerships with organizations like IFF Labs externally. As we recently announced, Pascal DeFronzo, Autodesk Executive Vice President of Corporate Affairs and Chief Legal Officer, will be retiring in December after 23 very successful years at the company. He has been a trusted counselor and steward of the company. His contributions to Autodesk are many and have been incredibly impactful, and I want to thank him for his dedication and wish him all the best in retirement. I am very excited to welcome Debbie back to Autodesk and will now turn the call over to her to take you through the details of our quarterly results and guidance for the year. I will then come back to provide an update on our strategic growth initiatives.