Autodesk Provides Update On Delayed Form 10-K Filing; Says As Of Today, The Investigation Is Ongoing And All Parties Continue To Work Diligently To Complete The Investigation.
Portfolio Pulse from Benzinga Newsdesk
Autodesk, Inc. (ADSK) is undergoing an internal investigation regarding its free cash flow and non-GAAP operating margin practices, delaying its Form 10-K filing. The company does not believe the investigation affects any previously issued financial statements or its recent earnings release. Autodesk expects to receive a notice from Nasdaq for not meeting the timely filing requirement but plans to submit a compliance plan within 60 days to regain compliance.
April 16, 2024 | 8:18 pm
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Autodesk's delay in filing Form 10-K due to an internal investigation may raise concerns among investors about the company's financial practices, potentially impacting stock confidence.
The delay in filing Form 10-K due to an internal investigation into Autodesk's financial practices, specifically regarding free cash flow and non-GAAP operating margin, could lead to investor uncertainty. This situation may negatively impact the stock price in the short term as the market reacts to potential governance and financial reporting issues. However, the company's statement that the investigation does not affect previously issued financial statements or recent earnings might mitigate some concerns.
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