Autodesk, Inc.

Thank you for standing by, and welcome to Autodesk's fourth quarter and four-year fiscal 2024 results conference call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question-and-answer session. To ask a question during the session, you will need to press star 1-1 on your telephone. To remove yourself from the queue, you may press star 1-1 again. I would now like to hand the call over to Simon May-Smith, Vice President, Investor Relations. Please go ahead.

Thanks, operator, and good afternoon. Thanks for joining our conference call to discuss the fourth quarter and full year fiscal 24 results. On the line with me are Andrew Anagnost, our CEO, and Debbie Clifford, our CFO. During this call, we will make forward-looking statements, including outlook and related assumptions, products, and strategies. Actual events or results could differ materially. Please refer to our SEC filings, including our most recent Form 10-Q and the Form 8-K filed with today's press release. for important risks and other factors 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. We will quote several numeric or growth changes during this call 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 turn the call over to Andrew.

Thank you, Simon, and welcome everyone to the call. We finished the year strongly, delivering 14% constant currency revenue growth in the fourth quarter of fiscal 24. Resilience, discipline, and opportunity again underpinned our robust financial and competitive performance. RDS resiliency comes from its subscription business model and its product and customer diversification, which balances growth across different regions and industries. Renewal rates remain strong. and new business growth and leading indicators were consistent with recent quarters. Despite ongoing macroeconomic, policy, and geopolitical headwinds, we saw growing usage, record big activity on building connected, and cautious optimism from channel partners. Disciplined and focused execution and strategic capital deployments through the economic cycle enable Autodesk to realize the significant benefits of its strategy, while mitigating the risks of having to make expensive catch-up investments later on. With the new transaction model, we are approaching the final phase of modernizing our go-to-market motion, which has involved updating our infrastructure, retiring old systems and business models, and building more durable and direct relationships with our customers and ecosystem. At the same time, we are advancing a multi-year process to develop lifecycle solutions within and between our industry clouds. powered by shared platform services and with Autodesk data model at its core. Together, these will enable Autodesk, its customers, and partners to create more valuable, data-driven, and connected products and services. Having led the industry in generative design, we are leading again in 3D generative AI. Autodesk is getting closer to a transformational leap, where Autodesk AI is to 3D design and make what chat GPT is the language. Our new multimodal foundation models will enable design and make customers to automate low value and repetitive tasks and generate more high value, complex designs more rapidly and with much greater consistency. We can already generate 3D representations from images 10 times faster and with vastly higher quality than currently available 3D AI. We're bolstering our homegrown capabilities and data with partnerships and acquisitions in existing and adjacent verticals. Our recent bidirectional integration of Fusion with Cadence and the acquisition of PayApps are good examples. Discipline and focus when executing our strategy and deploying capital also underpin our opportunity. Our go-to-market and platform initiatives will drive even greater operational velocity and efficiency within Autodesk, which will free up further resources to invest in our industry clouds and capabilities, including AI and sustained margin improvement. And with a modernized go-to-market motion, lifecycle solutions and platform services, Autodesk will fulfill its potential to break down the silos within and between manufacturing, AEC, and media and entertainment, enabling our customers to unleash their data and design a better world built for all. I will now turn the call over to Debbie to take you through our quarterly financial performance and guidance for fiscal 25. I'll then come back to update you on our strategic growth initiative.