8/28/2025

speaker
Operator
Conference Operator

Thank you for standing by and welcome to Autodesk second quarter and full year fiscal 2026 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1-1 on your telephone. To remove yourself from the queue, you may press star 1-1 again. I would now like to hand the call over to Simon May Smith, Vice President, Investor Relations. Please go ahead.

speaker
Simon May Smith
Vice President, Investor Relations

Thanks, Operator, and good afternoon. Thank you for joining our conference call to discuss Autodesk's fiscal 26 second quarter results. Andrew Adagnost, our CEO, and Janesh Morjani, 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-Q 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 are being made as of today. If this call is replayed or reviewed after today, the information presented during the call may not contain current or accurate information. Autodesk disclaims any obligation to update or revise any forward-looking statements. We will quote several numeric or growth changes during this call as we discuss our financial performance. Unless otherwise noted, each such reference represents a year-on-year comparison. All non-GAAP numbers referenced in today's call are reconciled in our press release and supplemental materials available on our Investor Relations website. And now I will turn the call over to Andrew.

speaker
Andrew Adagnost
Chief Executive Officer

Thank you, Simon, and welcome everyone to the call. Audit has delivered strong second quarter results. Revenue and non-GAAP earnings per share topped the higher end of our guidance ranges. Billings, non-GAAP operating margin, and free cash flow exceeded our expectations. As a result, we are raising our guidance for the full year. In an uncertain geopolitical, macroeconomic, and policy environment, two things remain clear. First, our strong momentum and performance in the first half of fiscal 26 set us up well to achieve our goals for the year. And second, we continue to make the right decisions to drive long-term shareholder value. We remain focused on executing our established strategic priorities in cloud, platform, and AI, optimizing our sales and marketing to drive higher operating margins, and allocating capital to organic investments, targeted and tuck-in acquisitions, and continuing our share repurchase program as our free cash flow grows. We have laid strong foundations for future revenue and operating margin growth and shareholder value creation. We're excited to tell you more about our plans at Arndis University in September and at our Investor Day on October 7th. I will now turn the call over to Dinesh to discuss our quarterly financial performance and guidance. I'll then come back to update you on our strategic growth initiatives.

Disclaimer

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Investor presentation