Autodesk Inc (AUD.DE) Q2 2026 Earnings Report

Autodesk delivered a solid QQ2 2026 performance characterized by durable revenue growth, strong gross margins and robust cash generation, underpinned by the company’s subscription-centric software portfolio. Revenue reached 1.763 billion USD, up 17.1% year over year and 8.5% quarter over quarter, while gross profit margin remained near 91%. Operating income of 444 million USD translated to an operating margin of approximately 25.2%, and net income of 313 million USD produced EPS of 1.47 (undiluted 1.46). Cash flow from operations stood at 460 million USD with free cash flow of 458 million USD, supporting a balance sheet that remains liquidity-rich despite meaningful intangible assets and debt load.

A notable feature of the quarter is Autodesk’s strong propensity to convert earnings into cash, aided by a favorable working capital dynamic and ongoing stock repurchases (approximately 358 million USD in the period). Cash and cash equivalents totaled about 2.003 billion USD, with total debt of 2.734 billion USD and net debt of roughly 0.731 billion USD. Deferred revenue remains elevated at roughly 3.555 billion USD, signaling healthy revenue visibility from multi-period subscriptions and enterprise ARR. Management commentary (where available) emphasizes continued focus on cloud-enabled collaboration, portfolio breadth across design, engineering, and media/entertainment, and the importance of renewing enterprise licenses.

Given the absence of formal forward guidance in the supplied materials, the outlook rests on continued execution of the company’s subscription strategy, moderate to solid ARR growth, and disciplined operating expense management. Investors should monitor ARR/renewal trends, product mix shifts toward cloud-based offerings, R&D intensity and its impact on margins, and the evolution of deferred revenue as a leading indicator of revenue visibility.