Autodesk 2015 Annual Report Download - page 137

2015 Form 10-K 45
During fiscal 2014, total other revenue represented 11% of License and other revenue. Other revenue decreased by 11%
during fiscal 2014 as compared to fiscal 2013. This decrease is primarily due to a 56% decrease in our education products as a
result of our transition to granting no or low-cost software licenses to educational institutions in select regions and to key
partners during fiscal 2014, consistent with our strategy.
Backlog related to current software license product orders that had not shipped at the end of the fiscal year decreased by
$0.3 million, from $20.0 million at January 31, 2013 to $19.7 million at January 31, 2014.
Subscription Revenue
Subscription revenue increased 7% during fiscal 2014 as compared to fiscal 2013 primarily due to a 9% increase in
commercial maintenance revenue. The 9% increase in commercial maintenance revenue was due to a 4% increase from
commercial enrollment during the corresponding maintenance contract term and a 5% increase from net revenue per
maintenance seat. Commercial maintenance revenue represented 95% and 94% of Subscription revenue for fiscal 2014 and
fiscal 2013, respectively.
Net subscription billings remained flat during fiscal 2014 as compared to the prior fiscal year primarily due to a decline in
multi-year maintenance subscriptions partially offset by an increase in billings from suites, which have higher maintenance
subscription prices.
Our deferred subscription revenue balance at January 31, 2014 and January 31, 2013 was $789.3 million and $753.1
million, respectively, and primarily related to customer maintenance agreements, which will be recognized as revenue ratably
over the term of the maintenance agreement.
Net Revenue by Geographic Area
Net revenue in the Americas geography decreased by 2% as reported and on a constant currency basis during fiscal 2014,
as compared to the prior fiscal year. This decrease was primarily due to a 13% decrease in our flagship product revenue
partially offset by a 14% increase in our suites revenue in this geography during fiscal 2014 as compared to fiscal 2013. The
decrease in our revenue in this geography was led by Canada and Brazil partially offset by an increase in revenue from the U.S.
Net revenue in the Europe, Middle East, and Africa ("EMEA") geography decreased by 2%, and remained flat on a
constant currency basis, during fiscal 2014 as compared to the prior fiscal year. This decrease was primarily due to a 13%
decrease in our flagship products partially offset by a 21% increase in our suites products in this geography during fiscal 2014
as compared to fiscal 2013. The decrease in our revenue in this geography was led by Ireland, Sweden, and the Netherlands
partially offset by an increase in revenue from Finland and the United Kingdom.
Net revenue in the APAC geography decreased 1% and increased by 5% on a constant currency basis, during fiscal 2014
as compared to the prior fiscal year, primarily due to a 3% decrease in our flagship products partially offset by a 10% increase
in our suites products in this geography. Our revenue in this geography during fiscal 2014 was impacted by decreases in
revenue from Australia, Japan, and Taiwan, partially offset by an increase in revenue from China.
Net revenue in emerging economies remained flat during fiscal 2014 as compared to the prior fiscal year, primarily due to
increases in revenue from Lebanon and China offset by a decrease in revenue from the Russian Federation. Revenue from
emerging economies represented 15% and 14% of total net revenue for fiscal 2014 and 2013, respectively.
International net revenue represented 70% and 71% of our total net revenue for fiscal 2014 and 2013, respectively. We
believe that international revenue will continue to comprise a majority of our total net revenue.
Net Revenue by Operating Segment
Net revenue for PSEB decreased by 6% during fiscal 2014 as compared to the prior fiscal year primarily due to a 9% and
4% decrease in revenue from our flagship products, AutoCAD and AutoCAD LT, respectively.
Net revenue for AEC increased by 4% during fiscal 2014 as compared to the prior fiscal year primarily due to a 31%
increase in revenue from our AEC suites, which was primarily driven by Autodesk Building Design Suite and Autodesk
Infrastructure Design Suite.
2015 Annual Report