Autodesk Inc ADSK has encountered a setback as its shares dipped following an announcement regarding the delay in its quarterly report due to an internal investigation initiated by the board's audit committee. The company disclosed that the investigation is focused on aspects such as free cash flow and non-GAAP operating margin practices, which have prompted a delay in filing its annual report for the year ended Jan. 31, 2024. Despite this, Autodesk assured that the matters under investigation are not anticipated to impact previously issued financial statements or information from its February earnings release.
Autodesk emphasized that the ongoing internal investigation surrounding its financial practices is still in progress, with all involved parties actively working towards completing the inquiry. The company expressed its intention to take necessary measures to regain compliance with Nasdaq's listing rules promptly to address the potential non-compliance that may arise from the delay in filing its annual report. As a consequence of these developments, Autodesk is currently facing challenges with documentation submission and may receive a notice from Nasdaq regarding its non-compliance with the timely filing requirement.