SAN FRANCISCO, August 27, 2026, 16:35 (ET) Autodesk (ADSK.O) shares declined 5% after the company raised its revenue guidance but lowered the midpoint of its cash flow forecast.
- Shares of Autodesk dropped 5.0% to $257 as of 4:30 p.m. ET, following a previous close of $270.58.
- Revenue for fiscal Q2 increased by 16% to $2.046 billion, while adjusted earnings per share came in at $3.30.
- The company’s annual revenue forecast increased, however, the midpoint for free-cash-flow dropped by $25 million.
Autodesk Inc. (NASDAQ: ADSK) shares dropped 5.0% in extended trading as investors focused more on the expense of growth rather than a robust quarter.
The design software company raised its fiscal-year revenue midpoint by $135 million, but its free-cash-flow midpoint declined by $25 million compared to its May forecast.
The difference is significant. MaintainX brings in additional sales, but expenses from financing and integration weigh on short-term cash conversion.
Autodesk posted quarterly revenue of $2.046 billion, a 16% increase. The non-GAAP operating margin widened by two points to reach 41% Autodesk results.
Adjusted earnings climbed to $3.30 per share. Free cash flow was up 24%, reaching $561 million.
| Investor metric | Q2 FY2027 / new view | Comparison |
|---|---|---|
| Revenue | $2.046 billion | 16% higher from a year earlier |
| Non-GAAP margin | 41% | up 2 points |
| FY2027 revenue midpoint | $8.320 billion | $135 million more than May |
| FY2027 FCF midpoint | $2.738 billion | $25 million less than May |
| After-hours price | $257.00 | down 5.02% at 4:30 p.m. ET |
Management forecasts yearly revenue will be between $8.295 billion and $8.345 billion. MaintainX is included in this outlook.
The company projects full-year free cash flow between $2.725 billion and $2.750 billion, which factors in roughly $45 million in MaintainX transaction costs.
The company maintained its non-GAAP operating margin forecast at around 39%. Management stated that acquisition-related dilution is being counterbalanced by operating leverage.
Backlog data sent conflicting signals. Current remaining performance obligations increased by 12%, but total RPO was up just 2%.
Unbilled deferred revenue dropped by 8%. Autodesk said the decrease was due to fewer multi-year discounts, which is expected to benefit pricing in the long term.
The stock rose 6.2% in regular trading before falling to $257 in after-hours, down from its $270.58 close Public after-hours quote.
As a result, the shares are little changed over the past two sessions. Investors first reacted positively to the software performance, but later priced in the impact of acquisition expenses.
Analysts maintain a positive outlook, with 30 Buy calls recorded and no Sell ratings. The average price target stands at $314.57, according to a recent summary Investing.com.
Risks: Costs linked to MaintainX integration may exceed expectations. Delays in renewals or reduced construction spending might impact RPO and margins.
The next hurdle is cash conversion. Revenue growth has already met expectations, and investors are now looking for that growth to translate into free cash flow.
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