01—Abstract
Summary
Summary of the 10-Q filed August 28, 2026. Cited figures are marked; the original filing is the authoritative source.
Autodesk, Inc. reported strong financial results for the three and six months ended July 31, 2026.
Total net revenue saw a significant increase of 16%a and 17% respectively, primarily driven by robust subscription revenue growth. This growth reflects the continued successful transition to a subscription-based business model and the expanding adoption of its product offerings across various industries. The company maintained a high recurring revenue percentage (97-98%), indicating strong customer retention and recurring revenue streams.
Profitability also saw a healthy increase, with net income rising substantially compared to the prior year periods. The company also demonstrated solid operational cash flow generation. Autodesk's balance sheet remains strong, with substantial cash and cash equivalents.
The company also completed a significant acquisition of MaintainX, Inc. in August 2026, which is expected to expand its offerings into asset operations and maintenance management. While the company faces ongoing macroeconomic and geopolitical uncertainties, its financial performance and strategic initiatives, including investments in AI and cloud platforms, position it well for future growth. Investors should note the ongoing legal proceedings, though the company states it cannot reasonably estimate potential losses at this time.
02—Key points
Key Highlights
- Total net revenue increased by 16% for the three months and 17% for the six months ended July 31, 2026, compared to the prior year periods.
- Subscription revenue was the primary driver of growth, increasing by 17% and 18% respectively, demonstrating the strength of Autodesk's business model.
- Net income showed significant improvement, rising to $492 million and $983 million for the three and six-month periods, respectively, up from $313 million and $465 million in the prior year.
- Operating cash flow was strong, increasing to $1.47 billion for the six months ended July 31, 2026, from $1.02 billion in the prior year.
- The company maintained a high net revenue retention rate (NR3), approximating the top end of its 100% to 110% range.
- Autodesk completed the acquisition of MaintainX, Inc. for approximately $3.53 billion in August 2026, aiming to expand its capabilities in asset operations and maintenance management.
- Remaining Performance Obligations (RPO) stood at $7.43 billion as of July 31, 2026, with $5.24 billion expected to be recognized as revenue in the next 12 months.
03—One dollar
Follow one dollar
Of each $1.00 of revenue in Q2 FY2027, Autodesk kept $0.24.
- Revenue$2.05B100.0%
- Cost of revenue−$176.0M8.6%
- Gross profit$1.87B91.4%
- Operating costs−$1.27B62.1%
- Operating income$599.0M29.3%
- Interest, other & tax−$107.0M5.2%
- Net income$492.0M24.0%
04—Financials
Financial Highlights
Figures from 10-QQ2 FY2027filed August 28, 2026Financial Statements
Q2 FY2027 against Q2 FY2026
| Line item | Q2 FY2027Q2 FY2026 | Change |
|---|---|---|
| Revenue | $2.05B$1.76B | +16.1% |
| Cost of Revenue | $176.00M$159.00M | +10.7% |
| Gross Profit | $1.87B$1.60B | +16.6% |
| R&D Expenses | $464.00M$413.00M | +12.3% |
| Operating Expenses | $1.27B$1.16B | +9.6% |
| Operating Income | $599.00M$444.00M | +34.9% |
| Net Income | $492.00M$313.00M | +57.2% |
| EPS (Basic) | $2.34$1.47 | +59.2% |
| EPS (Diluted) | $2.33$1.46 | +59.6% |
| Shares Outstanding (Basic) | 210.00M213.00M | −1.4% |
| Shares Outstanding (Diluted) | 211.00M215.00M | −1.9% |
05—Questions
Frequently Asked Questions
What is the overall financial performance of Autodesk in this quarter?
Autodesk demonstrated strong financial performance, with a notable 16% increase in total net revenue for the three months and 17% for the six months ended July 31, 2026, compared to the prior year. This growth was largely driven by its subscription revenue. Net income also saw a substantial increase, indicating improved profitability. The company also generated strong operating cash flow.
How is Autodesk's revenue breakdown and what is driving growth?
Autodesk's revenue is predominantly subscription-based, accounting for 97-98% of its total net revenue. This subscription model is a key driver of growth, with subscription revenue increasing significantly in both the three and six-month periods. Growth was observed across major product families, including Architecture, Engineering, Construction and Operations (AECO), AutoCAD, Manufacturing, and Media & Entertainment.
What is the company's financial position, and are there any significant recent transactions?
Autodesk maintains a strong balance sheet with $4.36 billion in cash, cash equivalents, and marketable securities as of July 31, 2026. A significant subsequent event is the acquisition of MaintainX, Inc. for approximately $3.53 billion in August 2026, which is expected to enhance its capabilities in asset operations and maintenance management.
Are there any notable risks or legal matters that investors should be aware of?
Autodesk faces ongoing risks related to global economic and political conditions, competition, and cybersecurity. The company is also involved in legal proceedings, including a purported federal securities class action and stockholder derivative complaints, stemming from an internal investigation. While the company cannot estimate potential losses from these matters, it is actively defending itself. Investors should review the detailed risk factors outlined in the SEC filing.
06—Continue