Autodesk (ADSK) Earnings Date & Reports

Key Takeaways

• Autodesk (ADSK) reported second-quarter fiscal 2027 revenue of $2.05 billion, up 16% year over year and above the $2.01 billion consensus estimate.
• Adjusted earnings per share (EPS) came in at $3.30, beating the $3.12 analyst estimate and up from $2.62 a year earlier.
• Non-GAAP operating margin expanded to 41%, while free cash flow rose 24% year over year to $561 million.
• Third-quarter profit guidance disappointed, with adjusted EPS of $3.04 to $3.09 falling short of the roughly $3.14 analysts had expected.
• Shares slipped more than 5% in after-hours trading as investors weighed near-term margin pressure from the recently closed MaintainX acquisition.

Earnings Context and Why It Matters

Autodesk, a leader in design and engineering software spanning architecture, construction, manufacturing, and media, delivered a strong top-line quarter that nevertheless failed to satisfy the market. The results matter because they arrive during a period of heightened investor scrutiny of software companies broadly, as questions mount over how artificial intelligence may reshape traditional pricing and workflow moats. Autodesk is also in the early stages of digesting its $3.6 billion cash acquisition of MaintainX, an operations-management software provider that closed on August 3, 2026. That deal extends Autodesk from design and manufacturing into asset operations but introduces integration costs that are now weighing on near-term profitability expectations.

Reported Results

For the three months ended July 31, 2026, Autodesk reported total revenue of $2.05 billion, a 16% increase year over year that exceeded the consensus estimate of $2.01 billion. Adjusted EPS reached $3.30, surpassing the $3.12 consensus and up from $2.62 in the prior-year period.

Subscription revenue grew 18% year over year to $1.95 billion, while other revenue declined 2.1% to $94 million. By product family, the Architecture, Engineering, Construction and Operations (AECO) segment led with $1.03 billion in revenue, up 17% year over year. AutoCAD and AutoCAD LT generated $500 million, up 14%, while Manufacturing (MFG) contributed $385 million, up 15%. Billings rose roughly 10% to $1.85 billion.

Profitability also improved. GAAP (Generally Accepted Accounting Principles) operating margin expanded about four percentage points to 29%, while non-GAAP operating margin reached 41%, up two percentage points. Free cash flow climbed 24% to $561 million. Deferred revenue increased 11% to $4.26 billion, and current remaining performance obligations (RPO, or contracted revenue not yet recognized) rose 12% to $5.25 billion.

AI Screener

Tickeron's AI Screener is an AI-powered stock and exchange-traded fund (ETF) discovery tool that helps traders and investors filter the market based on technical patterns, fundamentals, trends, volatility, and AI-driven signals. Users can scan thousands of stocks and ETFs using customizable filters such as industry, market capitalization, technical indicators, price patterns, and performance metrics. The screener is designed to surface trade ideas, trending stocks, breakout candidates, and market opportunities far more efficiently than manual screening. For investors tracking earnings season, the tool can help identify names worth closer review. Explore the AI Screener to refine your research workflow.

Market Reaction and Investor Sentiment

Despite beating on both revenue and earnings, Autodesk shares fell roughly 5% in after-hours trading following the report. The decline reflected a mismatch between strong reported results and cautious forward guidance. Third-quarter adjusted EPS guidance of $3.04 to $3.09 came in below the consensus of about $3.14, signaling that rising costs and acquisition-related expenses are beginning to compress near-term profitability. Sentiment was further pressured by the company's unchanged full-year non-GAAP operating margin target of approximately 39%, which management attributed to operating leverage being offset by margin dilution from the MaintainX integration. The pullback echoed a broader pattern seen across the software sector, where investors have been quick to penalize any sign of margin erosion amid concerns over AI-driven competitive disruption.

Forward Outlook and Key Factors to Monitor

For fiscal 2027, Autodesk raised its revenue guidance to a range of $8.295 billion to $8.345 billion, implying 15% to 16% growth, and lifted its billings outlook to $8.575 billion to $8.650 billion. Full-year adjusted EPS is now expected to land between $12.52 and $12.60, while free cash flow guidance was narrowed to $2.725 billion to $2.750 billion.

Investors should watch how quickly the company absorbs the MaintainX acquisition. MaintainX is expected to contribute roughly $60 million of revenue and $70 million of billings in the second half of fiscal 2027, weighted toward the fourth quarter. The integration carries approximately $45 million in transaction-related expenses, which will continue to weigh on free cash flow in the near term.

A second area of focus is margin trajectory. Autodesk has signaled that underlying operating leverage is improving, but dilution from the acquisition is masking that progress. Whether non-GAAP margins can hold near the 39% target while the company invests in AI capabilities and its new operations-solutions segment will be a key test.

Finally, monitor the net revenue retention rate, which management expects to remain in the 100% to 110% range in constant currency as the impact of the new transaction model fades. Sustained retention at the upper end of that range would support the company's subscription-led growth narrative heading into fiscal 2028.

Disclaimer

The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer.

Disclaimers and Limitations