Autodesk, Inc.

autodesk.com

What Do They Do?

Sells design and engineering software, construction tools, and digital creation software to design and construction professionals, manufacturers, and media and entertainment creators.

How Do They Make Money?

Customers pay for term-based software, cloud services and enterprise agreements in annual installments or upfront, and Autodesk earns subscription fees over the contract term. It also earns maintenance renewals over their terms and revenue from consulting and other products and services.

revenue

Segment	Share	How money arrives
Subscription Recurring	94% FY2023: 93%	Recurring
Maintenance Recurring	0.5% FY2023: 1.3%	Recurring
Other	6.0% FY2023: 5.8%

Who Are Their Customers?

Autodesk sells directly to enterprise and named accounts, online-store customers, and some customers quoted by Solution Providers; distributors and resellers handle many other sales, including through two-tier distribution.

Customers above 10% of revenue, FY2026

of revenue from one customer

FY2024: 39% from one customer

Do Revenues Turn Into Profits?

Yes. It kept 16 cents of every revenue dollar as net income in FY2026 and turned 33 cents into free cash flow.

Operating income, FY2026

22% of revenue

▲ +17% vs FY2025 ($1.4B, 22%)

Net income, FY2026

16% of revenue

▲ +1% vs FY2025 ($1.1B, 18%)

Free cash flow, FY2026

33% of revenue

▲ +54% vs FY2025 ($1.6B, 26%)

How Are They Changing?

Since the FY2026 annual report

Latest quarter: Q2 FY2027, the three months to Jul 31, 2026

Revenue: ▲ +16%; vs $1.8B in Q2 FY2026
Net income: ▲ +57%; vs $313M in Q2 FY2026

Cost of subscription revenue share of revenue vs 94.6% in Q2 FY2026

Aug 27, 2026 Raised fiscal 27 billings and revenue growth guidance The CFO said the increase reflected higher underlying growth expectations and MaintainX’s contribution.
Aug 3, 2026 Completed acquisition of MaintainX
May 28, 2026 Agreed to acquire MaintainX for approximately $3.575 billion MaintainX software covers maintenance activity, asset information, inspections, work orders and operational workflows.
May 28, 2026 Raised fiscal 2027 guidance after first-quarter results The CFO said the increase reflected first-quarter business strength.

Growing. Revenue grew 64% in 4 years, from $4.4B in FY2022 to $7.2B in FY2026, about 13% a year.

Revenue over time

Subscription Maintenance Other

$10B$5B$0

FY2022 FY2023 FY2024 FY2025 FY2026

Who Do They Compete With?

Competes with Adobe Systems, Bentley Systems, Dassault Systèmes, Dassault Systèmes SolidWorks, Intergraph, MSC Software, Nemetschek, Oracle, Procore Technologies, PTC, 3D Systems, Siemens PLM, and Trimble Navigation

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