Autodesk ADSK reported first-quarter fiscal 2026 non-GAAP earnings of $2.29 per share, which beat the Zacks Consensus Estimate by 7.01% and improved 22.5% year over year.

The company reported revenues of $1.63 billion, which beat the consensus mark by 1.64% and grew 15.2% year over year. 

The company saw strength in AECO, up-front revenues from Enterprise Business Agreements, and the Autodesk store, as friction from the new transaction model implementation process continued to ease.

Top-Line Details of ADSK

Autodesk’s subscription revenues (93.8% of total revenues) increased 15.2% year over year to $1.53 billion. Maintenance revenues (0.5% of total revenues) declined 27.3% from the year-ago quarter to $8 million. Other revenues (5.7% of total revenues) increased 22.4% to $93 million in the reported quarter.

Autodesk, Inc. Price, Consensus and EPS SurpriseAutodesk, Inc. Price, Consensus and EPS Surprise

Autodesk, Inc. price-consensus-eps-surprise-chart | Autodesk, Inc. Quote

Region-wise, revenues from the Americas (44.4% of revenues) increased 17.1% from the year-ago quarter’s levels to $725 million. Revenues from the EMEA, which accounted for 38.4% of revenues, climbed 17.4% to $627 million. Revenues from the Asia-Pacific (17.2% of revenues) increased 6.4% to $281 million.

Billings of $1.43 billion increased 29% year over year in the reported quarter.

Product Top-Line Details

Autodesk offers primarily four product families: Architecture, Engineering and Construction (AEC), AutoCAD and AutoCAD LT, Manufacturing (MFG) and Media and Entertainment (M&E).

AEC (49.5% of revenues) revenues increased 20% year over year to $809 million. 

AutoCAD and AutoCAD LT (25.2% of revenues) revenues rose 9.3% to $411 million. 

MFG (18.9% of revenues) revenues increased 15.3% to $309 million. 

M&E (4.7% of revenues) revenues increased 7% to $76 million.

Operating Results

Total operating expenses increased 26.4% year over year to $1.2 billion in the reported quarter.

Autodesk reported a non-GAAP operating margin of 37%, up by 300 basis points year over year.

Balance Sheet & Cash Flow

As of April 30, 2025, Autodesk had cash and cash equivalents (including marketable securities) of $2.04 billion compared with $1.89 billion as of Jan. 31, 2025.

Deferred revenues decreased 1% to $3.93 billion. Unbilled deferred revenues were $3.23 billion, indicating an increase of 67% year over year. 

Remaining performance obligations (RPO) rose 21% to $7.16 billion. Current RPO increased 16% to $4.55 billion.

Cash flow from operating activities was $564 million, suggesting an increase of 14% year over year. Free cash flow was $556 million, indicating an increase of 14%.

In the reported quarter, ADSK purchased approximately 1.3 million shares for $353 million at an average price of approximately $269 per share.

Story Continues

Q2 FY26 Guidance

Autodesk projects second-quarter fiscal 2026 revenues between $1.48 billion and $1.49 billion.
 
Non-GAAP earnings per share are expected between $1.98 and $2.04.

For fiscal 2026, Autodesk expects revenues between $5.99 billion and $6.09 billion. Billings are estimated in the $5.81-$5.96 billion band.

Non-GAAP earnings are anticipated in the range of $7.99-$8.21. ADSK expects a non-GAAP operating margin between 35% and 36% year over year.

Free cash flow is anticipated in the $1.43-$1.50 billion band.

Zacks Rank and Stocks to Consider

Currently, ADSK carries a Zacks Rank #4 (Sell).

Amphenol APH, Juniper Networks JNPR and Upwork UPWK are some better-ranked stocks that investors can consider in the broader Zacks Computer & Technology sector. APH, JNPR and UPWK sport a Zacks Rank #1 (Strong Buy) each at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

APH shares have gained 23.4% in the year-to-date (YTD) period. The Zacks Consensus Estimate for APH’s full-year 2025 earnings is pegged at $2.62 per share, up by 4 cents over the past seven days, suggesting a growth of 38.6% from the year-ago quarter’s reported figure.

JNPR shares have lost 3.9% YTD. The Zacks Consensus Estimate for JNPR’s full-year fiscal 2025 earnings has been revised upward to $2.09 in the past 30 days, suggesting year-over-year growth of 21.5%.

UPWK shares have declined 0.8% YTD. The Zacks Consensus Estimate for UPWK’s full-year 2025 earnings is pegged at $1.14 per share, implying a rise of 9.62% from the year-ago quarter’s levels.

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