Autodesk Inc
Q1 2026 Earnings
Market Reaction
S&P 500 over the same 30 days: +5.66%.
Did ADSK Beat Earnings? Q1 2026 Results
Autodesk opened fiscal 2026 on a firm footing, posting first-quarter revenue of $1.63 billion, up 15.7% year-over-year and ahead of the $1.61 billion consensus, while non-GAAP EPS of $2.29 topped the $2.15 estimate by 6.67%, underlining the durability of the company's subscription-driven model. The standout engine behind the beat was the AECO segment, which grew 20% to $809 million as demand for architecture, engineering, and construction tools accelerated, complemented by a 29% surge in billings to $1.43 billion that signals healthy future revenue visibility. Non-GAAP operating margin expanded three percentage points to 37%, though a $105 million restructuring charge weighed on GAAP results, pulling GAAP EPS down to $0.70. Shares rose more than 3% on the results, reflecting investor confidence in management's continued push into cloud, platform, and AI capabilities. Looking ahead, Autodesk guided full-year FY26 revenue of $6.93 billion to $7.00 billion and non-GAAP EPS of $9.50 to $9.73, with leadership acknowledging macroeconomic uncertainty as a measured factor in those assumptions.
- AECO product family grew 20% YoY, the fastest-growing product family
- Make business grew 23% YoY driven by cloud-based product subscriptions
- Billings surged 29% YoY to $1,434 million
- Non-GAAP operating margin expanded 3 percentage points to 37%
- Remaining performance obligations grew 21% YoY to $7,157 million
- Subscription revenue grew to $1,532 million from $1,330 million YoY
“Against an uncertain geopolitical, macroeconomic, and policy backdrop, our strong performance in the first quarter of fiscal 26 set us up well for the year. We continue to make the right decisions to drive long-term shareholder value by focusing on our strategic priorities in cloud, platform, and AI; optimizing our sales and marketing to drive higher margins; and allocating more capital to share repurchases as our free cash flow grows.”
Autodesk CEO, on the earnings call
Forward Guidance & Outlook
For Q2 FY26, Autodesk guided revenue of $1,720–$1,730 million, GAAP EPS of $1.37–$1.46, and non-GAAP EPS of $2.44–$2.48. For full-year FY26, the company expects billings of $7,160–$7,310 million, revenue of $6,925–$6,995 million, GAAP operating margin of 21%–22%, non-GAAP operating margin of 36.5%–37%, GAAP EPS of $4.63–$5.14, non-GAAP EPS of $9.50–$9.73, and free cash flow of $2,100–$2,200 million. Guidance incorporates currency movements since February partly offset by additional caution in growth assumptions to reflect greater macroeconomic uncertainty. The full-year outlook assumes a non-GAAP effective tax rate of 19% and includes restructuring cash outflows of $105–$115 million and a discrete cash benefit of $130–$150 million from utilization of US deferred tax assets.
ADSK YoY Financials
ADSK Revenue by Segment
ADSK Revenue by Geography
Figures from SEC filings and company reports. Not investment advice.