Autodesk, Inc. Earnings Recaps
Q2 2027
Aug 29, 2026
Autodesk’s stock rose modestly by 2.3% following its Q2 report, reflecting steady results with modest upside but no clear catalyst for a stronger market reaction. Overall, results were consistent with prior trends and guidance upgrades but did not generate strong investor enthusiasm reflected in modest stock appreciation.
Key takeaways
- Total revenue grew 16% year-over-year (14% in constant currency), with billings up 10% reported (12% constant currency), supported by a 2-point tailwind from a new transaction model.
- GAAP operating margin improved to 29%, up about 4 percentage points, driven by margin improvements and lower stock-based compensation; non-GAAP margin rose 2 points to 41%.
- Renewal rates remained strong, and the sales reorganization impact was within expected ranges, with geographic normalization progressing unevenly.
- The company completed the MaintainX acquisition early in Q3, integrating it into guidance to reflect expectations of continued growth in the second half.
- Free cash flow reached $561 million, aided by billing and collections timing; share repurchases totaled $453 million on 2.1 million shares.
Q4 2026
Feb 27, 2026
Autodesk delivered impressive fiscal 2026 results, exceeding guidance across multiple financial metrics, driven by strong billings growth and strategic execution in cloud and AI initiatives.
Key takeaways
- Q4 total revenue increased 19% year-over-year, with a notable contribution of approximately $137 million from the new transaction model.
- Billings surged by 33% in Q4, bolstered by robust demand in construction and emerging markets, and a shift to annual billings for multiyear contracts.
- Non-GAAP operating margin improved to 38%, reflecting effective cost discipline despite a $100 million restructuring charge.
- Free cash flow reached $972 million, supported by strong billing trends and effective capital management, which included $1.4 billion in share repurchases for the fiscal year.
- Outlook for fiscal 2027 incorporates risks linked to ongoing restructuring but remains grounded in a resilient business momentum.