Autodesk, Inc. (NASDAQ:ADSK) Q4 2024 Earnings Conference Call February 29, 2024 5:00 PM ET

Company Participants

Simon Mays-Smith - VP, IR

Andrew Anagnost - CEO

Debbie Clifford - CFO

Conference Call Participants

Saket Kalia - Barclays

Adam Borg - Stifel

Jay Vleeschhouwer - Griffin Securities

Joe Vruwink - Baird

Jason Celino - KeyBanc Capital Markets

Tyler Radke - Citigroup

Michael Funk - Bank of America

Stephen Tusa - JPMorgan

Nay Soe Naing - Berenberg

Operator

Thank you for standing by. And welcome to Autodesk's Fourth Quarter and Full 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. [Operator Instructions]

I would now like to hand the call over to Simon Mays-Smith, Vice President, Investor Relations. Please go ahead.

Simon Mays-Smith

Thanks, operator. And good afternoon. Thanks for joining our conference call to discuss the fourth quarter and full year fiscal 2024 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 strategy. 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.

Andrew Anagnost

Thank you, Simon. And welcome, everyone, to the call. We finished the year strongly, delivering 40% constant currency revenue growth in the fourth quarter of fiscal 2024. Resilience, discipline and opportunity again underpinned our robust financial and competitive performance.

Autodesk's resiliency comes from its subscription business model and its product and customer diversification, which balances growth across different regions and industries. Renewal rates remained 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 BuildingConnected and cautious optimism from channel partners.