01—Abstract
Summary
Summary of the 10-Q filed May 29, 2026. Cited figures are marked; the original filing is the authoritative source.
Autodesk, Inc. (ADSK) reported strong financial performance for the first quarter of fiscal year 2027, ending April 30, 2026.
Total net revenue increased by 18% year-over-year to $1.93 billiona, driven primarily by robust growth in subscription revenue. The company maintained a high recurring revenue percentage of 97%, indicating the stickiness of its subscription model. Diluted net income per share saw a significant jump to $2.32 from $0.70 in the prior year's comparable period, reflecting improved operational efficiency and top-line growth.
Operationally, Autodesk demonstrated solid execution, with income from operations more than doubling to $541 millionb. While operating expenses saw a slight increase, this was primarily due to strategic investments in R&D and marketing, offset by a significant decrease in restructuring costs.
The company also ended the quarter with a strong cash position and healthy operating cash flow of $893 millionc. A notable subsequent event is the definitive agreement to acquire MaintainX, Inc. for approximately $3.6 billion, signaling continued investment in expanding its platform and service offerings.
02—Key points
Key Highlights
- Total net revenue grew 18% to $1.93 billion, driven by subscription revenue.
- Diluted net income per share surged to $2.32, a substantial increase from $0.70 in the prior year.
- Income from operations more than doubled, reaching $541 million, indicating improved profitability.
- Recurring revenue remained strong at 97% of total net revenue.
- Operating cash flow was robust at $893 million, showcasing strong cash generation.
- The company announced a definitive agreement to acquire MaintainX, Inc. for approximately $3.6 billion, signaling strategic growth initiatives.
- Repurchased $448 million of common stock, demonstrating a commitment to returning capital to shareholders.
03—One dollar
Follow one dollar
Of each $1.00 of revenue in Q1 FY2027, Autodesk kept $0.25.
- Revenue$1.93B100.0%
- Cost of revenue−$175.0M9.0%
- Gross profit$1.76B91.0%
- Operating costs−$1.22B63.0%
- Operating income$541.0M28.0%
- Interest, other & tax−$50.0M2.6%
- Net income$491.0M25.4%
04—Financials
Financial Highlights
Figures from 10-QQ1 FY2027filed May 29, 2026Financial Statements
Q1 FY2027 against Q1 FY2026
| Line item | Q1 FY2027Q1 FY2026 | Change |
|---|---|---|
| Revenue | $1.93B$1.63B | +18.4% |
| Cost of Revenue | $175.00M$160.00M | +9.4% |
| Gross Profit | $1.76B$1.47B | +19.4% |
| R&D Expenses | $421.00M$394.00M | +6.9% |
| Operating Expenses | $1.22B$1.24B | −1.8% |
| Operating Income | $541.00M$233.00M | +132.2% |
| Interest Expense | $21.00M$18.00M | +16.7% |
| Net Income | $491.00M$152.00M | +223.0% |
| EPS (Basic) | $2.33$0.71 | +228.2% |
| EPS (Diluted) | $2.32$0.70 | +231.4% |
| Shares Outstanding (Basic) | 211.00M214.00M | −1.4% |
| Shares Outstanding (Diluted) | 212.00M216.00M | −1.9% |
05—Questions
Frequently Asked Questions
What is the primary driver of Autodesk's revenue growth in this quarter?
The primary driver of Autodesk's revenue growth was a significant increase in subscription revenue, which grew 19% year-over-year. This reflects the ongoing success of its subscription-based business model and customer adoption of its products and services.
How did the company's profitability change compared to the previous year?
Profitability improved significantly. Income from operations more than doubled to $541 million, up from $233 million in the prior year's comparable quarter. This improvement was driven by strong revenue growth outpacing expense increases, particularly with reduced restructuring costs.
What is the significance of the planned acquisition of MaintainX, Inc.?
The planned acquisition of MaintainX, Inc. for approximately $3.6 billion is a significant strategic move to expand Autodesk's platform and workflow capabilities, particularly in areas like maintenance and asset operations. This acquisition is expected to help customers better connect data and workflows across the entire lifecycle of their projects, reinforcing Autodesk's position as a comprehensive design and make platform.
How is Autodesk managing its cash and capital allocation?
Autodesk generated strong operating cash flow of $893 million during the quarter. The company also repurchased $448 million of its common stock, indicating a continued focus on returning capital to shareholders. The company plans to use a combination of debt and available cash to fund the MaintainX acquisition.
06—Continue