Autodesk delays annual report on internal investigation into cash flow

Autodesk said it is unable to file its annual report for the year ended January 31, 2024, within the prescribed time period After the company’s earnings release on February 29, information was brought to the attention of management, which informed the board’s audit committee, that caused the committee to commence an internal investigation with the assistance of outside counsel and advisors, regarding the company’s free cash flow and non-GAAP operating margin practices. The investigation is ongoing and all parties are working to complete the investigation, Autodesk disclosed in a regulatory filing. The company has voluntarily contacted the Securities and Exchange Commission to advise it that an internal investigation is ongoing, and the committee intends to provide additional information to the SEC as the investigation proceeds. The company needs further time to assist the committee in its investigation and to review its practices in this regard. Autodesk does not believe that any of the matters under investigation affect any previously issued financial statements. Shares of Autodesk are down 4% to $250.26 in premarket trading.