Autodesk earnings: guidance and results
Autodesk's next results are expected on November 24, 2026. Watch whether Autodesk can turn MaintainX into durable growth without giving up its margin and cash goals.
What has Autodesk guided for the year?
For the year ending January 2027, management guides to revenue of $8,295–$8,345 million and billings of $8,575–$8,650 million. Billings measure what Autodesk invoices or commits during the period. Revenue measures what it earns by delivering the software. If a customer pays $1,200 upfront for a one-year subscription, Autodesk may bill the full amount immediately but recognize $100 of revenue each month. Billings can therefore show demand earlier, while revenue follows the accounting schedule.
Autodesk guides to $2,725–$2,750 million of FY27 free cash flow. That is cash generated after capital expenditures, not cash already in the bank. It must also cover buybacks. Current RPO, or contracted revenue expected within roughly a year, rose 12% in Q2 FY27 while total RPO rose 2%. Autodesk’s move away from discounted multiyear contracts is weighing on total RPO, so contract structure must be separated from underlying demand.
| Period guided | Low | High | Date given | |
|---|---|---|---|---|
| Billings (in millions) | Year to Jan 2027 | 8,575 | 8,650 | Aug 27, 2026 |
| Revenue (in millions) | Year to Jan 2027 | 8,295 | 8,345 | Aug 27, 2026 |
| Non-GAAP operating margin | Year to Jan 2027 | 39.0% | 39.0% | Aug 27, 2026 |
| Free cash flow (in millions) | Year to Jan 2027 | 2,725 | 2,750 | Aug 27, 2026 |
What this means. The company reports both standard profit figures and adjusted figures that leave out some costs, so the adjusted numbers look higher.
How have Autodesk's revenue and profit trended?
July 2026 showed broad sales growth and strong margins, but the profit comparison benefited from an unusually weak prior period.
The profit increase needs adjustment for the comparison base. The April 2025 quarter included a $105 million restructuring charge, and the prior-year period also included the $54 million employee stock-purchase accounting correction. The July 2026 quarter included a small restructuring credit while the prior-year quarter carried charges. Reported earnings rose, but the comparison does not measure a clean change in normal profitability.
| Jul 2026 | Apr 2026 | Jan 2026 | Oct 2025 | Jul 2025 | Apr 2025 | Jan 2025 | Oct 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,046 | 1,934 | 1,957 | 1,853 | 1,763 | 1,633 | 1,639 | 1,570 |
| Gross margin | 91.4% | 91.0% | 91.5% | 91.1% | 91.0% | 90.2% | 90.6% | 90.6% |
| Operating income | 599 | 541 | 431 | 470 | 444 | 233 | 366 | 346 |
| Net income | 492 | 491 | 316 | 343 | 313 | 152 | 303 | 275 |
| EPS, diluted | 2.33 | 2.32 | 1.48 | 1.60 | 1.46 | 0.70 | 1.40 | 1.27 |
What this means. Cash from operations can swing sharply between quarters because some quarterly figures are calculated by subtracting year-to-date amounts, so the changes do not always show a real change in the business.
What should you watch in Autodesk's next results?
The next results must show whether Autodesk can turn demand and MaintainX into durable growth without giving up its margin and cash goals.