Autodesk, Inc. stock research
FY2023 Q4
Autodesk (ADSK) Gross Margin — Quarter Ended Jan 31, 2023
Revenue and gross profit both held steady compared to the immediately preceding quarter, while cost of revenue was slightly higher. Gross margin remained stable at the same level as the prior quarter but was marginally lower than the same quarter one year earlier.
Gross margin takeaway
Quarter ended Jan 31, 2023 · FY2023 Q4
Revenue and gross profit both held steady compared to the immediately preceding quarter, while cost of revenue was slightly higher. Gross margin remained stable at the same level as the prior quarter but was marginally lower than the same quarter one year earlier.
- The strongest observable margin driver is the relationship between revenue and cost of revenue: revenue was unchanged while cost of revenue increased slightly from the prior quarter, yet gross margin remained stable, indicating that the cost increase was proportionally small relative to revenue. In comparison to the year-ago quarter, a larger increase in revenue accompanied a larger increase in cost of revenue, resulting in a marginally lower gross margin.
- Compared to the immediately preceding quarter, revenue, gross profit, cost of revenue, and gross margin were all essentially unchanged. Compared to the same quarter one year earlier, revenue and gross profit were higher, cost of revenue was higher, and gross margin was slightly weaker.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
90.6%
Gross profit
$1.2B
Revenue
$1.3B
Cost of revenue
$124.0M
Quarter-over-quarter change
n/a
Year-over-year change
-0.2 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Jan 31, 2023 | $1.3B | $1.2B | $124.0M | 90.6% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Previous quarter unavailable
n/a
Year-over-year change
Jan 31, 2022
-0.2 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable margin driver is the relationship between revenue and cost of revenue: revenue was unchanged while cost of revenue increased slightly from the prior quarter, yet gross margin remained stable, indicating that the cost increase was proportionally small relative to revenue. In comparison to the year-ago quarter, a larger increase in revenue accompanied a larger increase in cost of revenue, resulting in a marginally lower gross margin.
Compared to the immediately preceding quarter, revenue, gross profit, cost of revenue, and gross margin were all essentially unchanged. Compared to the same quarter one year earlier, revenue and gross profit were higher, cost of revenue was higher, and gross margin was slightly weaker.
Monitor whether cost of revenue continues to increase relative to revenue in future quarters, as this could pressure gross margin.