Autodesk, Inc.

NASDAQ Global Select
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Bullish +65

AUTODESK, INC. ANNOUNCES FISCAL 2027 SECOND QUARTER RESULTS - PR Newswire

AI-generated analysis

📈 Autodesk reported second quarter fiscal 2027 revenue of $2.05 billion, representing a 16% year-over-year increase.

💰 Revenue grew 14% on a constant currency basis, demonstrating resilience against foreign exchange headwinds.

🚀 Management increased fiscal 2027 billings and revenue growth guidance to reflect higher underlying growth expectations.

🤝 The MaintainX acquisition is contributing incremental revenue but resulted in margin dilution and $45 million in transaction expenses.

💸 Free cash flow expectations were narrowed to account for operating costs and financing costs associated with the MaintainX integration.

🧠 CEO Andrew Anagnost emphasized that AI turns connected data into actionable project intelligence to ease capacity constraints.

📉 Non-GAAP margin guidance remains unchanged, balancing higher underlying margins from operating leverage against acquisition-related dilution.

🔄 The company is proceeding with a sales reorganization and transitioning from multi-year discounts to a new transaction model.

🏗️ Autodesk's product portfolio spans Architecture, Engineering, Construction (AECO), Manufacturing (MFG), and Media & Entertainment (M&E).

📊 Remaining performance obligations (RPO) are being managed as the company winds down multi-year Maintenance-to-Subscription renewals.

📅 The company will host a conference call today at 5 p.m. ET to discuss these results in further detail.

Bullish Signals
  • Autodesk reported second quarter revenue of $2.05 billion, a significant 16% year-over-year increase driven by strong execution.
  • Management raised fiscal 2027 billings and revenue growth guidance, signaling confidence in higher underlying business growth.
  • The MaintainX acquisition is successfully contributing incremental revenue to the company's top line.
  • Operating leverage is driving higher underlying margins despite the integration costs associated with the MaintainX deal.
  • CEO Andrew Anagnost highlighted successful AI strategy implementation, positioning the platform as essential for customers facing capacity constraints.
Risk Factors
  • Free cash flow expectations were narrowed to reflect approximately $45 million in transaction expenses related to the MaintainX acquisition.
  • The integration of MaintainX is causing margin dilution, which offsets some of the benefits from operating leverage and optimization.
  • The company is winding down multi-year Maintenance-to-Subscription renewals, which temporarily weighs on unbilled deferred revenue and RPO growth.
  • Autodesk faces risks related to the integration of MaintainX, including challenges associated with combining businesses and potential customer acceptance issues.
Full Analysis
Autodesk, Inc. (NASDAQ: ADSK) reported strong financial results for the second quarter of fiscal 2027, ending July 31, 2026. The company's revenue grew 16% year over year on a reported basis and 14% on a constant currency basis, reaching $2.05 billion. This growth reflects consistent execution and momentum within the company's core business segments. CEO Andrew Anagnost highlighted the strategic importance of AI in transforming connected data into actionable project intelligence to help customers manage capacity constraints. The company emphasizes its position as a trusted platform combining rich context with accurate, fast, and affordable AI models for the built world. CFO Janesh Moorjani announced that fiscal 2027 billings and revenue growth guidance have been increased to reflect higher underlying growth expectations and incremental contributions from the MaintainX acquisition. While non-GAAP margin guidance remains unchanged due to acquisition-related dilution, free cash flow expectations were narrowed to account for operating costs and approximately $45 million in transaction expenses related to the MaintainX deal. Autodesk continues to focus on four primary product families: AECO, AutoCAD/MFG, and Media & Entertainment. The company is actively managing its transition from multi-year discounts to a new transaction model while integrating MaintainX, which adds to revenue but impacts short-term cash flow and margin metrics.