The Investor
28 Aug 2026, 10:51
Autodesk Falls 4.7% as Outlook and MaintainX Costs Overshadow Strong Q2
Autodesk (NASDAQ: ADSK) shares fell 4.7% in premarket trading despite reporting solid fiscal second-quarter results, including 16% revenue growth to $2.05 billion.
Billings increased 10% to $1.85 billion, while non-GAAP EPS rose to $3.30. Profitability also improved, with non-GAAP operating margin reaching 41%, up two percentage points, and free cash flow increasing 24% to $561 million.
Autodesk raised its fiscal 2027 revenue and billings growth expectations, partly reflecting stronger underlying performance and the contribution from its MaintainX acquisition. However, MaintainX is also creating near-term pressure: Autodesk kept its non-GAAP operating margin guidance at roughly 39% and narrowed free cash flow guidance to $2.725–$2.750 billion due to acquisition-related operating, financing and transaction costs.
The selloff may therefore reflect expectations rather than weak quarterly performance. Investors may be focusing on acquisition-related margin dilution, relatively modest RPO growth of 2%, and Q3 non-GAAP EPS guidance of $3.04–$3.09, which is below the $3.30 reported in Q2.
Longer term, Autodesk continues to position its design and construction platform around AI, connected data and automation, while its core AECO business remained strong with 17% revenue growth.
Autodesk (NASDAQ: ADSK) shares fell 4.7% in premarket trading despite reporting solid fiscal second-quarter results, including 16% revenue growth to $2.05 billion.
Billings increased 10% to $1.85 billion, while non-GAAP EPS rose to $3.30. Profitability also improved, with non-GAAP operating margin reaching 41%, up two percentage points, and free cash flow increasing 24% to $561 million.
Autodesk raised its fiscal 2027 revenue and billings growth expectations, partly reflecting stronger underlying performance and the contribution from its MaintainX acquisition. However, MaintainX is also creating near-term pressure: Autodesk kept its non-GAAP operating margin guidance at roughly 39% and narrowed free cash flow guidance to $2.725–$2.750 billion due to acquisition-related operating, financing and transaction costs.
The selloff may therefore reflect expectations rather than weak quarterly performance. Investors may be focusing on acquisition-related margin dilution, relatively modest RPO growth of 2%, and Q3 non-GAAP EPS guidance of $3.04–$3.09, which is below the $3.30 reported in Q2.
Longer term, Autodesk continues to position its design and construction platform around AI, connected data and automation, while its core AECO business remained strong with 17% revenue growth.
