What did Autodesk report for the second quarter of fiscal 2027?

Sonal Goyal

28 October 2026 05:00 PM AEDT

What did Autodesk report for the second quarter of fiscal 2027?

Image Source: Shutterstock

You are reading a free article with opinions that may differ from the recommendation given by Kalkine in its paid research reports. Become a Kalkine member today to get access to our research reports, in-depth technical and fundamental research. Learn more

Start Your Free Trial Now!

Key Highlights

Second-quarter fiscal 2027 Revenue was $2,046m, up 16% as reported and 14% in constant currency, with billings up 10% to $1,854m.
Free Cash Flow rose 24% to $561m, and non-GAAP Diluted Earnings per Share were $3.30.
Fiscal 2027 guidance is for revenue of $8,295m to $8,345m and non-GAAP earnings per share of $12.52 to $12.60, including MaintainX.

The latest reported quarter

Autodesk Inc. (NASDAQ:ADSK) reported results for the second quarter of fiscal 2027, which ended on 31 July 2026, on 27 August 2026. Total revenue was $2,046m, up 16% as reported and 14% in constant currency. Billings rose 10% to $1,854m, while free cash flow increased 24% to $561m.

Subscription revenue grew 17%, which indicates growth was driven mainly by recurring sources rather than one-off items. Reported growth also benefited from currency, as the gap between 16% reported and 14% constant-currency growth shows.

Profitability improved. GAAP Operating Margin was 29%, up four percentage points, and non-GAAP operating margin was 41%, up two points. Non-GAAP diluted earnings per share were $3.30 and GAAP diluted earnings per share were $2.33.

Forward indicators

Remaining performance obligations (RPO) were $7,433m, up only 2%, while current RPO was $5,245m, up 12%. Current RPO growth had slowed from the 18% to 20% range of recent quarters, and the company partly attributed this to customers moving from multi-year to annual contracts. That shift can reduce contracted Backlog without necessarily signalling weaker end demand, but it makes comparisons with earlier periods less straightforward.

Guidance and what it includes

For fiscal 2027, which is guidance rather than a reported result, Autodesk expects total revenue of $8,295m to $8,345m and billings of $8,575m to $8,650m. It anticipates non-GAAP operating margin of about 39%, non-GAAP earnings per share of $12.52 to $12.60 and free cash flow of $2,725m to $2,750m. The company states that the outlook includes MaintainX.

For the third quarter, the company guided to revenue of $2.125bn to $2.140bn and non-GAAP earnings per share of $3.04 to $3.09.

What to watch

The first item to watch is the pace of current RPO growth as the contract mix evolves. If annual contracting continues to spread, billings and free cash flow may become more useful measures than RPO.

The second is the integration of MaintainX, which the guidance includes and which could affect margin and earnings comparisons. Margins are a further point of interest, since the full-year non-GAAP operating margin guidance of about 39% sits below the 41% achieved in the second quarter alone, so the phasing of costs through the second half is worth following.

The third is whether Autodesk delivers within its third-quarter revenue range of $2.125bn to $2.140bn when it next reports. The date of that announcement is available on the company's Investor relations calendar.

FAQs

Q: What was Autodesk's revenue in the second quarter of fiscal 2027?

A: Total revenue was $2,046m, up 16% as reported and 14% in constant currency. Billings rose 10% to $1,854m.

Q: What is Autodesk's fiscal 2027 guidance?

A: Autodesk expects revenue of $8,295m to $8,345m, non-GAAP earnings per share of $12.52 to $12.60 and free cash flow of $2,725m to $2,750m. The outlook includes MaintainX.

Q: Why is RPO growth being watched?

A: RPO was $7,433m, up only 2%, and current RPO rose 12% against 18% to 20% in recent quarters. The company partly attributed this to customers moving from multi-year to annual contracts.

Download Free Report – Explore 3 Stock Ideas & Industry Insights

Unlock 3 stock ideas and key industry insights in our free report. This information is general in nature and does not consider your personal objectives, financial situation, or needs. It is not financial advice.

All investments involve risk—consider independent advice before making any investment decisions.

View 3 Research Reports

Disclaimer:

This article (“Article”) has been prepared by Kalkine Pty Limited (ABN 34 154 808 312) (Australian financial services licence number 425376) (“Kalkine”) and its related bodies corporate who are authorised to provide general financial product advice. Kalkine.com.au and its associated pages are published by Kalkine.

Any information/advice provided in this article is general in nature and does not take into account your objectives, financial situation or needs. You should therefore consider whether the information is appropriate for your objectives, financial situation and needs before acting upon it.

There may be a Product Disclosure Statement, Information Memorandum or other offer document (“Offer Document”) for the securities or other financial products referred to in Kalkine articles. You should obtain a copy of the Offer Document and consider it before making any decision about whether to acquire the security or financial product.

Kalkine strongly recommends that you seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) before acting on any advice/information in this Article or on the Kalkine website. Not all investments are appropriate for all people.

The information in this Article and on Kalkine website has been prepared from a wide variety of sources, which Kalkine, to the best of its knowledge and belief, considers accurate. Kalkine has made every effort to ensure the reliability of the information contained in its articles (including this Article), newsletters and websites. All information represents our views at the date of publication and may change without notice.

The information in this Article does not constitute an offer to sell securities or other financial products or a solicitation of an offer to buy securities or other financial products.

Kalkine does not issue, sell or deal in any financial products.

This Article may contain information on past performance of particular investments. Please note past performance is neither an indicator nor a guarantee of future performance.

To the extent permitted by law, and excluding any dishonesty or gross negligence by Kalkine, Kalkine disclaims and excludes all liability for any direct, indirect, implied, punitive, special, incidental or other consequential loss or damage arising from the use of or reliance on this Article, the Kalkine website and any information published on the Kalkine website without any warranties or representations by Kalkine to you. To the extent the law prohibits or limits this exclusion, Kalkine limits its liability to the resupply of services.

Please also read our Terms & Conditions and Financial Services Guide for further information.

Employees and/or associates of Kalkine and its related entities may hold interests in the securities or other financial products covered in this Article or on the Kalkine website. Any such employees and associates are required to comply with certain safeguards, procedures and disclosures as required by law.

Some of the images/music that may be used in the Article are copyright to their respective owner(s). Kalkine does not claim ownership of any of the pictures displayed/music used in the Article unless stated otherwise. The images/music that may be used in the Article are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Kalkine Media Pty Ltd, an affiliate of Kalkine Pty Ltd, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.