Q1 2026 Autodesk Inc Earnings Call Transcript
Key Points
- Autodesk Inc (ADSK) delivered strong first-quarter results, with revenue and non-GAAP earnings per share exceeding the higher end of guidance ranges.
- The company saw a 15% increase in total revenue as reported and 16% in constant currency, driven by the new transaction model and strong performance in AECO and the Autodesk store.
- Billings increased by 29% as reported and 30% in constant currency, reflecting the shift to annual billings for most multi-year contracts.
- Non-GAAP operating margins increased by 3 percentage points due to operating leverage from ongoing cost discipline and timing benefits from restructuring.
- Autodesk Inc (ADSK) is focusing on strategic growth investments in cloud, platform, and AI, which are expected to drive long-term shareholder value.
- GAAP operating margins decreased by 7 percentage points, primarily due to restructuring charges and a one-time non-cash charge related to stock-based compensation.
- The company is facing uncertainty due to geopolitical and macroeconomic factors, which could impact customer bidding processes and material costs.
- There is a potential risk of disruption from ongoing sales and marketing optimization and the transition to a new Chief Revenue Officer.
- The Asia Pacific region showed some softness, particularly in Japan, China, and Korea, due to macroeconomic turmoil and trade discussions.
- The transition to the new transaction model is still ongoing, with channel partners adapting and onboarding their long tail of customers.
Thank you for standing by, and welcome to Autodesk first quarter and full year fiscal 2026 earnings conference call. (Operator Instructions)
I would now like to hand the call over to Simon Mays-Smith, Vice President, Investor Relations. Please go ahead.
Thanks, operator, and good afternoon. Thank you for joining our conference call to discuss Autodesk's fiscal '26 first-quarter results. Andrew Anagnost, our CEO; and Janesh Moorjani, our CFO, are on the line with me. During this call, we will make forward-looking statements, including outlook and related assumptions and on products, go-to-market and strategies.
Actual events or results could differ materially. Please refer to our SEC filings, including our most recent Form 10-K and the Form 8-K filed with today's press release for important risks and other factors that may cause our actual results to differ from those in our forward-looking statements.
Forward-looking statements made during the call
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