The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Gal Munda - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: So the first one, I'd just like to ask you, Andrew, when you kind of looked at how the year played out in terms of the multi-users or network licenses
versus what you expected, is it fair to say that you're kind of right back in the middle to that [3:1] thing that you expected? And you've just extended
the program to '23, does that mean that you're kind of very comfortable with the way that this program is kind of converting, and you think that
it's going to remain at that level where it's not a significant headwind to the model?
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FEBRUARY 25, 2021 / 10:00PM, ADSK.OQ - Q4 2021 Autodesk Inc Earnings Call
Question: Gal Munda - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: Yes. Absolutely. And then just the second as a follow-up, you mentioned that for this year, you're again expecting kind of mid-20s long-term
deferred revenue in terms of the -- so not a material contribution to free cash flow. When we look into more towards FY '23, and then maybe even
beyond that, we're hearing this multiyear licenses as still been very, very strong even during the pandemic. So what would be the normal rate that
you kind of think about if you think maybe more longer term, not just next year and maybe the year after?
Question: Matthew George Hedberg - RBC Capital Markets, Research Division - Analyst
: Andrew, I thought that was really good color on Q1. I think that makes a ton of sense. And also I'll offer my congrats to Debbie. It's really good to
see you back at Autodesk. I guess, Andrew, now that we're sort of unwinding uncertainty, I think that's the term you've used before, when we think
of the trajectory to '23, I mean, I think I just would kind of like to get maybe some high-level thoughts there. And I guess even more so beyond '23,
what's the right way to think about that as we enter this new fiscal year?
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