Autodesk (ADSK) investor relations material

Executive summary

• Q2 FY27 revenue reached $2.05 billion, up 16% year-over-year (14% in constant currency), with strong execution and momentum, and sales reorganization proceeding as planned.

• Billings totaled $1.854 billion, a 10% increase year-over-year (12% in constant currency).

• GAAP operating margin was 29%, non-GAAP operating margin was 41%, and GAAP EPS was $2.33; non-GAAP EPS was $3.30.

• Net income for Q2 was $492 million, up from $313 million a year ago.

• MaintainX acquisition completed for $3.6 billion, expanding asset operations and maintenance management capabilities.

Financial highlights

• Free cash flow for Q2 was $561 million, up 24% year-over-year; cash flow from operations was $575 million for the quarter and $1.47 billion for the six months.

• Deferred revenue grew 11% to $4.258 billion; remaining performance obligations reached $7.433 billion, up 2% year-over-year.

• Returned $453 million to shareholders via share repurchases in Q2; $901 million repurchased in the first half of FY27.

• Net revenue by product: Design $1.708 billion (+16%), Make $244 million (+26%), Other $94 million (-3%).

• Regional revenue: Americas $898 million (+14%), EMEA $804 million (+19%), APAC $344 million (+14%).

Outlook and guidance

• FY27 revenue guidance: $8.295–$8.345 billion, up 15–16% year-over-year; billings guidance: $8.575–$8.65 billion.

• MaintainX expected to add ~$60 million to H2 revenue and ~$70 million to H2 billings, weighted to Q4.

• FY27 GAAP operating margin guidance: 25–27%; non-GAAP margin ~39%.

• FY27 GAAP EPS: $7.89–$8.72; non-GAAP EPS: $12.52–$12.60.

• FY27 free cash flow guidance: $2.725–$2.75 billion, including $45 million in MaintainX transaction expenses.