SAN FRANCISCO, May 28, 2026 /PRNewswire/ -- Autodesk, Inc. (NASDAQ:ADSK) today reported financial results for the first quarter of fiscal 2027, ended April 30, 2026.
"Our customers need AI that produces outputs that are accurate in the real world. That requires data, context, and expertise. Each one is scarce and what differentiates Autodesk is that we have all three at scale. We can validate AI-generated outputs against real-world constraints using our existing parametric and physics-based 3D technology," said Andrew Anagnost, CEO of Autodesk. "Autodesk's assistants and MCP infrastructure provide the harness layer that makes frontier models more controllable, context-aware, and useful continuously through the full lifecycle. Autodesk's 3D foundation models provide the core AI engines that directly reason about geometry and physical relationships. This integrated approach is why we believe Autodesk will define the next generation of industrial AI."
"We delivered strong first quarter results with solid execution of our plans and consistent momentum in our markets. Our sales reorganization is proceeding as expected," said Janesh Moorjani, Autodesk CFO. "We have raised our fiscal 27 guidance to reflect the strength of the business in the first quarter. Our guidance assumes that the underlying momentum of the business will remain strong and continues to reflect potential disruption from our sales restructuring consistent with the plan we set out in February. The acquisition of MaintainX will bring a strategic asset into Autodesk and support our focus on durable, long-term growth and shareholder value creation. We will include the impact of the acquisition in our guidance after the transaction closes."
First Quarter Fiscal 2027
(In millions, except percentages and per share amounts)
Q1 FY27
YoY Change
Billings
$ 1,688
18 %
Revenue
$ 1,934
18 %
GAAP Operating Margin
28 %
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Non-GAAP Operating Margin
39 %
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GAAP EPS
$ 2.32
$ 1.62
Non-GAAP EPS
$ 2.99
$ 0.70
Cash flow from operating activities
$ 893
58 %
Free cash flow
$ 876
58 %
See GAAP to Non-GAAP reconciliation at the end of this document.
Net Revenue by Product Type
Q1 FY27
YoY Change
YoY Change in Constant Currency
(In millions, except percentages)
%
%
Design
$ 1,612
18 %
16 %
Make
224
25 %
24 %
Other
98
5 %
4 %
Total Net Revenue
$ 1,934
18 %
16 %
Net Revenue by Geographic Area
Q1 FY27
YoY Change
YoY Change in Constant Currency
(In millions, except percentages)
%
%
Americas
$ 844
16 %
17 %
EMEA
761
21 %
16 %
APAC
329
17 %
16 %
Total Net Revenue
$ 1,934
18 %
16 %
Net Revenue by Product Family
Our product offerings are focused in four primary product families: Architecture, Engineering, Construction, and Operations ("AECO"), AutoCAD and AutoCAD LT, Manufacturing ("MFG"), and Media and Entertainment ("M&E").
Q1 FY27
YoY Change
YoY Change in Constant Currency
(In millions, except percentages)
%
%
AECO
$ 970
20 %
18 %
AutoCAD and AutoCAD LT
474
15 %
14 %
MFG
367
19 %
17 %
M&E
86
13 %
12 %
Other
37
32 %
27 %
Total Net Revenue
$ 1,934
18 %
16 %
Remaining Performance Obligations
(In millions, except percentages)
Q1 FY27
YoY Change
Deferred Revenue
$ 4,457
13 %
Unbilled deferred revenue
3,351
4 %
Remaining performance obligations ("RPO")
7,808
9 %
Current RPO
5,383
18 %
All growth rates are compared to the first quarter of fiscal 2026 unless otherwise noted.
Business Outlook
The following are forward-looking statements based on current expectations and assumptions, and involve risks and uncertainties, some of which are set forth below under "Safe Harbor Statement." A reconciliation between the second quarter and full-year fiscal 2027 GAAP and non-GAAP estimates is provided below or in the tables later in this document.
Second Quarter Fiscal 2027 (1)
Q2 FY27 Guidance Metrics
Q2 FY27(ending July 31, 2026)
Revenue (in millions)
$2,005 - $2,015
EPS GAAP
$1.84 - $1.97
EPS non-GAAP
$3.10 - $3.14
Full Year Fiscal 2027 (1)
FY27 Guidance Metrics
FY27(ending January 31, 2027)
Billings (in millions)
$8,505 - $8,580
Revenue (in millions)
$8,155 - $8,215
GAAP operating margin
26% - 28%
Non-GAAP operating margin
~39%
EPS GAAP
$8.07 - $8.63
EPS non-GAAP
$12.40 - $12.65
Free cash flow (in millions) (2)
$2,725 - $2,800
(1) Does not include MaintainX.
(2) Free cash flow is cash flow from operating activities less approximately $70 million of capital expenditures.
Earnings Conference Call and Webcast
Autodesk will host its first quarter conference call today at 5 p.m. ET. The live broadcast can be accessed at autodesk.com/investor. A transcript of the opening commentary will also be available following the conference call.
A replay of the broadcast will be available at 7 p.m. ET at autodesk.com/investor. This replay will be maintained on Autodesk's website for at least 12 months.
Investor Presentation Details
An investor presentation, Excel financials and other supplemental materials providing additional information can be found at autodesk.com/investor.
Safe Harbor Statement
This press release contains forward-looking statements that involve risks and uncertainties, including quotations from management, statements in the paragraphs under "Business Outlook" above, statements about our pending transaction with MaintainX, statements about our utilization of and strategy regarding artificial intelligence, statements about our new transaction model and sales and marketing optimization, statements about the momentum of our business, statements about our short-term and long-term goals, statements regarding our strategies, market and product positions, performance and results, and all statements that are not historical facts. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: a variety of risks regarding our pending transaction with MaintainX described in our press release regarding the transaction, our strategy to develop and introduce new products and services and to move to platforms and capabilities, exposing us to risks such as limited customer acceptance (both new and existing customers), costs related to product defects, and large expenditures; global economic and political conditions, including changes in monetary and fiscal policy, foreign exchange headwinds, recessionary fears, supply chain disruptions, resulting inflationary pressures and hiring conditions; geopolitical tension and armed conflicts, economic and regulatory uncertainty including tariffs and trade wars, and extreme weather events; costs and challenges associated with strategic acquisitions and investments; our ability to successfully implement and expand our transaction model and our sales and marketing optimization; dependency on international revenue and operations, exposing us to significant international regulatory, economic, intellectual property, collections, currency exchange rate, taxation, political, and other risks, including risks related to the war against Ukraine launched by Russia and the current military conflict in the Middle East; inability to predict subscription renewal rates and their impact on our future revenue and operating results; existing and increased competition and rapidly evolving technological changes; fluctuation of our financial results, key metrics and other operating metrics; our transition from up front to annual billings for multi-year contracts; deriving a substantial portion of our net revenue from a small number of solutions, including our AutoCAD-based software products and collections; any failure to successfully execute and manage initiatives to realign or introduce new business and sales initiatives, including our new transaction model for Flex; net revenue, billings, earnings, cash flow, or new or existing subscriptions shortfalls; social and ethical issues relating to the use of artificial intelligence in our offerings as well as market reaction to disruption from artificial intelligence; our ability to maintain security levels and service performance meeting the expectations of our customers, and the resources and costs required to avoid unanticipated downtime and prevent, detect and remediate performance degradation and security breaches; security incidents or other incidents compromising the integrity of our or our customers' offerings, services, data, or intellectual property; reliance on third parties to provide us with a number of operational and technical services as well as software; our highly complex software, which may contain undetected errors, defects, or vulnerabilities; increasing regulatory focus on privacy issues and expanding laws; governmental export and import controls that could impair our ability to compete in international markets or subject us to liability if we violate the controls; protection of our intellectual property rights and intellectual property infringement claims from others; the government procurement process; fluctuations in currency exchange rates; our debt service obligations; and our investment portfolio consisting of a variety of investment vehicles that are subject to interest rate trends, market volatility, and other economic factors. Our estimates as to tax rate are based ...
