Autodesk, Inc.

Standing by and welcome to the Autodesk fourth quarter and full year fiscal 2022 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during this session, you'll need to press star 1 on your telephone. As a reminder, today's program may be recorded. I would now like to introduce your host for today's program, Simon Mays Smith, Vice President of Investor Relations. Please go ahead, sir.

Thanks, Operator, and good afternoon. Thank you for joining our conference call to discuss the fourth quarter and full year results of our fiscal 22. 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 transcript of today's opening commentary on our investor relations website following this call. During 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 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. 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 return the call over to Andrew.

Thank you, Simon, and welcome everyone to the call. Today we reported record fourth quarter and full year revenue, non-GAAP operating margins, and free cash flow. Our strong results and competitive performance were underpinned by some perennial factors. Our ability to deliver greater value to our customers and partners through consistent investment in our technology, workforce, and business model and customer experience. Let me talk briefly about each of these, is they are just as important to our future growth as they have been to our growth in the past. All of our technology investments, be it in 3D and BIM, enabling workflows in the cloud, in general design, in make, and in newer verticals like water and construction, all of them connect siloed, adjacent workflows in the cloud and lead our customers to new, more efficient, and sustainable ways of working. At Autodesk University, we announced we were moving from products to platforms and capabilities and bringing those capabilities to any device anywhere through the cloud. Fusion 360 is the leading edge of this transition, and our recent acquisitions of ProdSmart and Simcoe will enable us to further digitize and connect shop floor processes and manufacturing to help build connected factories while providing additional on-ramps into and usage of our manufacturing platform. Similarly, our acquisitions of Moxion and Loop enable us to connect media and entertainment workflows and data from post-production to pre-production. With media and entertainment signing its largest ever EBA in the fourth quarter, the ability to connect pre-production workflows further expands our addressable TAM. We're also continuing to invest in our workflows, attract and retain the best talent in our industries, and cultivate a shared sense of purpose and of diversity and belonging. We recently received recognition for that work with inclusion on the Corporate Knights Index of the world's most sustainable companies and the highest possible score on the Human Rights Foundation's Corporate Equality Index. We are proud of our purpose and unique culture, one consequence of which is relatively low attrition compared to our technology peers. This is another source of competitive advantage in tight labor markets. It also means that when gifted leaders like Scott Reese and Pascal DeFronzo decide to climb their next mountains, we have a deep bench of internal talent like Jeff Kinder and Rebecca Pierce, and alumni like Ruthann Keene to step into their shoes. And finally, business model and customer experience optimization. This includes the shift from perpetual licenses with maintenance to tiered subscriptions, the shift from desktop multi-user licenses to named user subscriptions and consumption, the shift from indirect to direct, the shift from front-end to back-end payments to channel partners, and most recently, the shift from upfront to annual billing, all of which enable us to better serve more customers in flexible and customized ways. As of February 1st, we unified all customer and partner-facing activities, marketing, go-to-market, customer success, and customer operations, under our COO, Steve Blum. to give us a better end-to-end view of the customer experience and to drive sustainable competitive advantage and growth. While the pandemic and its aftershocks mean we will fall narrowly short of the financial targets set more than five years ago, we have made tremendous progress through consistent investment in our technology, our workforce, and our business model and customer experience, which have added adjacent use cases and usage in our ecosystem, growing our addressable market and our ability to realize it. Importantly, the pandemic has accelerated the structural growth drivers underpinning our future growth. We have robust momentum as we enter fiscal 23 and over the long term. Now let me turn the call over to Debbie to take you through the details of our quarterly financial performance and guidance for the year. I'll then come back to provide an update on our strategic growth initiative.