Q2 2027 Autodesk, Inc. Earnings Call Transcript
Key Points
- Autodesk Inc (ADSK) delivered another strong quarter with revenue and EPS above the high end of guidance, leading to a raised full-year billings and revenue outlook.
- The company's strategy of converging Design, Make, and Operate is gaining traction, evidenced by a major enterprise deal with a global retailer selecting Autodesk Forma and Tandem for digital twin capabilities.
- Construction business continues to show robust growth, exceeding 20%, driven by technology adoption and strong demand for pre-construction and model coordination solutions.
- The acquisition of MaintainX is expected to contribute approximately $60 million to second-half fiscal '27 revenue and $70 million to billings, expanding Autodesk's presence in operations.
- AI initiatives, including the Fusion Assistant and Neural CAD, are driving user engagement and growth, with Fusion seeing increased multi-seat purchases and strong adoption of AI features.
- The impact from the sales reorganization is still being felt, particularly in Western Europe, where new business productivity normalization is slower than in other regions.
- The reduction of multi-year discounts and the winding down of maintenance-to-subscription renewals are temporarily weighing on unbilled deferred revenue and RPO growth.
- MaintainX is currently unprofitable and will be a drag on operating margins in fiscal '27, with full-year costs expected to impact fiscal '28 as well.
- Fiscal '27 includes the largest EBA renewal cohort with a concentration in Q4, creating a tough year-over-year comparison and potential execution risk.
- The new transaction model provided a tailwind to revenue growth in the first half, but this benefit will not recur in fiscal '28, potentially impacting growth comparisons.
Thank you for standing by, and welcome to Autodeskâs second-quarter fiscal year 2027 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 fiscal '27 second-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 on products, artificial intelligence, sales and marketing optimization, go-to-market strategies, and trends. Actual events or results could differ materially. Please refer to our SEC filings, including our most recent Form 10-Q and the Form 8-K filed with todayâs press release for important risks and other factors that may cause our actual results to differ from those in our forward-looking statements.
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