Autodesk (ADSK) Company Report

Q4 total revenue grew 19% as reported and constant currency; ex-transaction model revenue growth was 14%. Billings rose 33% as reported and constant currency; ex-transaction model billings growth was 32%.
Non-GAAP operating margin was 38% (+120 bps year-over-year); GAAP operating margin was 22% (flat; includes a $100 M restructuring charge). Free cash flow was $972 M.
Completed the final phase of go-to-market optimization, incurring a $100 M restructuring charge in sales and marketing; fiscal 2027 guidance includes expected short-term disruption from this plan.
FY2027 guidance: billings $8.48 B–$8.58 B, revenue $8.10 B–$8.17 B, GAAP margin 26–28%, non-GAAP margin 38.5–39%, and free cash flow $2.7 B–$2.8 B.
Returned capital via share repurchases of $333 M in Q4 and $1.4 B for the full year, reducing shares by 2.1 M; capital allocation framework unchanged.

1 day ago

Transcript

Autodesk reports Q4 2026 earnings results

ADSK

Earnings

Guidance Update

Share Buyback

Autodesk’s Q4 FY26 revenue grew 19% y/y (14% ex-new transaction model), while billings rose 33% reported (32% CC ex model), including $137M revenue and $185M billings from the new transaction model.
Q4 GAAP and non-GAAP operating margins were 22% and 38% (up 120 bps y/y), respectively, reflecting a $100M restructuring charge for go-to-market optimization.
Q4 free cash flow was $972M, and Autodesk repurchased 1.1M shares for $333M in the quarter (FY26 total: $1.4B of buybacks, reducing share count by 2.1M).
Fiscal 2027 guidance: billings of $8.48B–$8.58B, revenue of $8.1B–$8.17B, GAAP margin 26%–28%, non-GAAP margin 38.5%–39%, and free cash flow of $2.7B–$2.8B.

1 day ago

Transcript

Autodesk reports Q4 fiscal 2026 results

ADSK

Earnings

Guidance Update

Share Buyback

Delivered 19% revenue growth and 33% billings growth in Q4, with underlying constant-currency revenue up 14% and billings up 32% excluding the impact of the new transaction model.
Achieved Q4 GAAP/non-GAAP operating margins of 22%/38%, generated $972 million in free cash flow, and repurchased $1.4 billion of shares in FY26, reducing the share count by 2.1 million.
Provided fiscal 2027 guidance for $8.48–8.58 billion in billings, $8.10–8.17 billion in revenue, GAAP/non-GAAP operating margins of 26–28%/38.5–39%, and $2.7–2.8 billion in free cash flow.
Completed final phase of its go-to-market optimization in January and reinforced investment in AI and cloud-based platforms to drive long-term growth.

1 day ago

Transcript

Autodesk reports Q4 FY26 results

ADSK

Earnings

Guidance Update

Share Buyback

Autodesk delivered billings of $2.804 B (up 33% YoY) and revenue of $1.957 B (up 19% YoY) in Q4 FY26.
Profitability remained strong with a non-GAAP operating margin of 38% (up 1 ppt YoY) and free cash flow of $972 M (up 43% YoY) in the quarter.
Backlog metrics showed deferred revenue of $4.693 B (up 14% YoY), unbilled deferred revenue of $3.607 B (up 28% YoY), and remaining performance obligations of $8.3 B (up 20% YoY).
Capital return included $333 M in share repurchases during Q4 FY26.
For FY27, Autodesk guides to revenue of $8.100–$8.170 B (up 12–13% YoY) and non-GAAP EPS of $12.29–$12.56, with Q1 FY27 revenue of $1.885–$1.900 B (up 12–13% YoY).

1 day ago

Presentation

Autodesk announces Q4 2026 results

ADSK

Earnings

Guidance Update

Fourth-quarter FY26 revenue of $1.957 billion (+19% YoY) and billings of $2.804 billion (+33% YoY)
Q4 non-GAAP EPS of $2.85 (+$0.56) and free cash flow of $972 million (+43% YoY)
Fiscal 2026 revenue of $7.206 billion (+18% YoY) and billings of $7.771 billion (+30% YoY)
Fiscal 2027 guidance: Q1 revenue of $1.885–$1.900 billion, FY27 revenue of $8.100–$8.170 billion, billings of $8.480–$8.580 billion, GAAP EPS of $7.76–$8.39, non-GAAP EPS of $12.29–$12.56

1 day ago

8-K

Autodesk reports fiscal 2026 fourth quarter results

ADSK

Earnings

Guidance Update

Q4 FY26 revenue of $1.96 B (up 19%) and billings of $2.80 B (up 33%) driven by growth in Design and cloud-based offerings
Non-GAAP operating margin of 38% (GAAP 22%) with non-GAAP EPS of $2.85 vs GAAP EPS of $1.48
FY26 revenue of $7.21 B (up 18%) on billings of $7.77 B (up 30%), delivering non-GAAP EPS of $10.43 and free cash flow of $2.41 B
FY27 guidance: Q1 revenue of $1.885–1.900 B; full-year revenue of $8.10–8.17 B and non-GAAP EPS of $12.29–12.56

1 day ago

Press Release

Autodesk cuts 1,000 jobs, shifts focus to AI

ADSK

Layoffs

Guidance Update

New Projects/Investments

Autodesk will cut about 1,000 employees (7% of its global workforce), mainly in customer‐facing sales roles, as part of its multiyear go-to-market transformation.
The company expects $135–160 million in pre-tax restructuring charges (with $90–110 million booked in the current quarter) and plans to reinvest savings into AI, cloud, and platform initiatives through fiscal 2027.
CEO Andrew Anagnost said the layoffs align with long-term strategy and “will not become an annual process”; shares rose about 5% in after-hours trading.
Autodesk raised its outlook, forecasting billings, revenue, non-GAAP profits, and free cash flow above the top end of prior guidance; the stock reached $269.77 post-announcement.

Jan 22, 2026, 10:53 PM

Bloomberg

Autodesk outlines AI leadership and transaction model impact at Barclays Tech Conference

ADSK

Guidance Update

Product Launch

Autodesk reiterated strong business performance and reiterated its FY 2029 margin target of 41%, noting a non-linear path due to cumulative headwinds from the New Transaction Model (≈400 bps total, ~100 bps remaining, mostly in FY 2027) and normalization of billing/FCF tailwinds in FY 2027.
Autodesk Research—300-person organization—has built an AI lab since 2018 focused on geometry- and shape-based generative AI, shrinking research-to-product cycle to 3–6 months, and rolled out Autodesk Assistant and Neural CAD in Forma (and soon Revit).
The company demos AI-driven workflows across architecture (outcome-based design, real-time renderings, automated plan generation) and construction (Construction IQ leak and risk detection), leveraging integrated data in its industry clouds to improve collaboration and automate repetitive tasks.
Autodesk will retain its seat-based model while expanding TAM into adjacent verticals (construction, operations) and introduce consumption-based pricing via Flex tokens—metering machine-driven AI value and 24×7 compute “time” to capture new monetizable demand.

Dec 10, 2025, 6:25 PM

Transcript

Autodesk outlines AI strategy and billing transition at Barclays Tech Conference

ADSK

Product Launch

New Projects/Investments

Autodesk Research’s 300-person AI lab, initiated in 2009 and formalized in 2018, focuses on geometry-specific generative AI and has shortened research-to-product cycles from a decade to 3–6 months.
Autodesk Assistant is being rolled out across products like Forma and Revit, alongside Neural CAD for buildings, enabling foundation models that “think” in building geometry for conceptual design and automation.
Generative AI will revolutionize architecture via outcome-based design, cross-discipline collaboration (e.g., real-time translations between architects and engineers), and automation of repetitive tasks; in construction, AI enhancements in Construction Cloud (e.g., Construction IQ, issue prediction) aim to reduce costs and improve site focus.
Annual billing transition is nearly complete, fueling FY25–26 billings and free cash flow growth, with normalized revenue growth expected by FY27 despite non-linear margin headwinds of ~100 bps remaining from the new transaction model.

Dec 10, 2025, 6:25 PM

Transcript

Autodesk highlights AI leadership and business strategy at Barclays Tech Conference

ADSK

Product Launch

New Projects/Investments

Autodesk reiterates strong business performance and plans fiscal 2027 to see normalized billings and free cash flow growth as the shift to annual billing completes, while acknowledging margin headwinds from the New Transaction Model and potential macro disruptions.
The company’s 300-person Autodesk Research team and AI lab (established 2018) have positioned Autodesk years ahead of competitors in domain-specific AI for geometry and design applications.
Introduced Autodesk Assistant across core products (including Revit and Forma) and unveiled Neural CAD—building-focused foundation models for rapid conceptual design and automation.
Autodesk Construction Cloud extends market share via strategic acquisitions and a unified Build platform, delivering AI-enabled tools like Construction IQ for predictive site management and improved collaboration.
Continued investment in platform architecture, data standardization, and large-scale AI infrastructure on AWS underpins agentic workflows and future AI-driven innovations.