10-QPeriod: Q1 FY2027

Autodesk, Inc. Quarterly Report for Q1 Ended Apr 30, 2026

Filed May 29, 2026For Securities:ADSK

Summary

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 billion, 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 million. 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 million. 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.

Financial Highlights

49 data points
Beta

Revenue

$1.93B

91.0% Gross Margin

Net Income

$491.00M

25.4% Net Margin

EPS (Diluted)

$2.32

Total Assets

$11.93B

Cash & Equivalents

$2.67B

Free Cash Flow

$876.00M

Financial Statements
Beta
Revenue$1.93B
Cost of Revenue$175.00M
Gross Profit$1.76B
R&D Expenses$421.00M
Operating Expenses$1.22B
Operating Income$541.00M
Interest Expense$21.00M
Net Income$491.00M
EPS (Basic)$2.33
EPS (Diluted)$2.32
Shares Outstanding (Basic)211.00M
Shares Outstanding (Diluted)212.00M

Key Highlights

  • 1Total net revenue grew 18% to $1.93 billion, driven by subscription revenue.
  • 2Diluted net income per share surged to $2.32, a substantial increase from $0.70 in the prior year.
  • 3Income from operations more than doubled, reaching $541 million, indicating improved profitability.
  • 4Recurring revenue remained strong at 97% of total net revenue.
  • 5Operating cash flow was robust at $893 million, showcasing strong cash generation.
  • 6The company announced a definitive agreement to acquire MaintainX, Inc. for approximately $3.6 billion, signaling strategic growth initiatives.
  • 7Repurchased $448 million of common stock, demonstrating a commitment to returning capital to shareholders.

Frequently Asked Questions

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.

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.

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.

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.