Autodesk 2016 Annual Report Download - page 117

2016 Form 10-K 45
The following table outlines our subscriptions, ARR and ARPS metrics as of fiscal years ended January 31, 2016 and
January 31, 2015:
Balance at
(Decrease)/Increase
compared to
prior fiscal year
(in thousands) January 31, 2016 January 31, 2015 %
Maintenance Subscriptions 2,151.0 2,013.3 137.7 7 %
New Model Subscriptions 427.2 220.4 206.8 94 %
Total Subscriptions 2,578.2 2,233.7 344.5 15 %
(in millions)
Maintenance ARR $ 1,121.4 $ 1,103.8 $ 17.6 2 %
New Model ARR 255.0 151.6 103.4 68 %
Total ARR $ 1,376.4 $ 1,255.4 $ 121.0 10 %
(ARR divided by Subscriptions)
Maintenance ARPS $ 521 $ 548 $ (27) (5)%
New Model ARPS 597 688 (91) (13)%
Total ARPS $ 534 $ 562 $ (28) (5)%
Year-over-year maintenance subscriptions increased 7% as of January 31, 2016 as compared to the same period in the
prior fiscal year. Year-over-year new model subscriptions increased 94% as of January 31, 2016 as compared to the same period
in the prior fiscal year, primarily due to 292% growth in Desktop subscriptions over the corresponding period. Also contributing
to the overall subscription growth was an increase in maintenance renewal rates.
Total Subscriptions ARR increased 10% as of January 31, 2016 as compared to the same period in the prior fiscal year
primarily due to a 68% increase in New Model ARR driven by desktop license subscriptions and our flexible enterprise
offerings. Also contributing to the increase was growth in Maintenance ARR, which increased 2% as compared to the same
period in the prior fiscal year.
The 5% decrease in total ARPS was primarily due to growth in lower-priced subscription offerings causing total
subscriptions growth to exceed total subscriptions ARR growth.
Foreign Currency Analysis
We generate a significant amount of our revenue in the U.S., Japan, Germany, France, and the United Kingdom. Total net
revenue for fiscal 2016 was flat on an as reported basis compared to the prior fiscal year, and was negatively impacted by
foreign exchange rate changes during fiscal 2016. Had applicable exchange rates from fiscal 2015 been in effect during fiscal
2016 and had we excluded foreign exchange hedge gains and losses from both fiscal 2015 and 2016 (“on a constant currency
basis”), net revenue would have increased 4% compared to the prior fiscal year.
Our total spend, defined as cost of revenue plus operating expenses, during fiscal 2016 increased 5% on an as reported
basis as compared to the prior fiscal year. Had applicable exchange rates from fiscal 2015 been in effect during fiscal 2016 and
had we excluded foreign exchange hedge gains and losses from both fiscal 2015 and 2016, total spend would have increased
9% on a constant currency basis compared to the prior fiscal year.
Changes in the value of the U.S. dollar may have a significant effect on net revenue, total spend, and income from
operations in future periods. We use foreign currency contracts to reduce the exchange rate effect on a portion of the net
revenue and spend of certain anticipated transactions but do not attempt to completely mitigate the impact of fluctuations of
such foreign currency against the U.S. dollar.
2016 Annual Report