Autodesk, Inc. stock research
FY2024 Q1
Autodesk (ADSK) Gross Margin — Quarter Ended Apr 30, 2023
Revenue remained stable compared to the prior quarter, while gross profit decreased slightly due to a higher cost of revenue, resulting in a modest gross margin decline. Year over year, revenue grew, gross profit was unchanged, and gross margin held steady.
Gross margin takeaway
Quarter ended Apr 30, 2023 · FY2024 Q1
Revenue remained stable compared to the prior quarter, while gross profit decreased slightly due to a higher cost of revenue, resulting in a modest gross margin decline. Year over year, revenue grew, gross profit was unchanged, and gross margin held steady.
- The strongest observable driver of gross margin change was the sequential increase in cost of revenue relative to revenue.
- Compared to the preceding quarter, gross margin weakened as cost of revenue rose while revenue was flat. Compared to the same quarter last year, gross margin was unchanged as revenue and cost of revenue both increased proportionally.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
90.0%
Gross profit
$1.1B
Revenue
$1.3B
Cost of revenue
$127.0M
Quarter-over-quarter change
-0.6 pts
Year-over-year change
-0.0 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% |
| Apr 30, 2023 | $1.3B | $1.1B | $127.0M | 90.0% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jan 31, 2023
-0.6 pts
Year-over-year change
Apr 30, 2022
-0.0 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable driver of gross margin change was the sequential increase in cost of revenue relative to revenue.
Compared to the preceding quarter, gross margin weakened as cost of revenue rose while revenue was flat. Compared to the same quarter last year, gross margin was unchanged as revenue and cost of revenue both increased proportionally.
Monitor the trend in cost of revenue, especially given the company's disclosure of supply chain disruptions and inflationary pressures that may affect costs.