Item 1. FINANCIAL STATEMENTS

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Item 1. FINANCIAL STATEMENTS

AUTODESK, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In millions, except per share data)

(Unaudited)


	Three Months Ended April 30,
	2026		2025
Net revenue:
Subscription (1)	$	1,836	$	1,540
Other	98		93
Total net revenue	1,934		1,633
Cost of revenue:
Cost of subscription revenue (1)	129		111
Cost of other revenue	21		24
Amortization of developed technologies	25		25
Total cost of revenue	175		160
Gross profit	1,759		1,473
Operating expenses:
Marketing and sales	593		566
Research and development	421		394
General and administrative	162		162
Amortization of purchased intangibles	12		13
Restructuring, other exit costs, and facility reductions	30		105
Total operating expenses	1,218		1,240
Income from operations	541		233
Interest and other income, net	58		1
Income before income taxes	599		234
Provision for income taxes	(108)		(82)
Net income	$	491	$	152
Basic net income per share	$	2.33	$	0.71
Diluted net income per share	$	2.32	$	0.70
Weighted average shares used in computing basic net income per share	211		214
Weighted average shares used in computing diluted net income per share	212		216

(1) During the fiscal quarter ended April 30, 2026, the Company began classifying maintenance revenue within “Subscription revenue”. Prior period amounts have been reclassified to conform to the current period presentation. The reclassification did not impact total net revenue.

See accompanying Notes to Condensed Consolidated Financial Statements.

AUTODESK, INC.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(In millions)

(Unaudited)


	Three Months Ended April 30,
	2026		2025
Net income	$	491	$	152
Other comprehensive income (loss), net of reclassifications:
Net gain (loss) on derivative instruments (net of tax effect of $(1) and $2, respectively)	10		(23)
Change in net unrealized gain on available-for-sale debt securities (net of tax effect of $(6) and zero, respectively)	1		1
Change in defined benefit pension items (net of tax effect of zero for all periods presented)	—		1
Net change in cumulative foreign currency translation (loss) gain (net of tax effect of $(1) and $(3), respectively)	(13)		58
Total other comprehensive income (loss)	(2)		37
Total comprehensive income (loss)	$	489	$	189

See accompanying Notes to Condensed Consolidated Financial Statements.

AUTODESK, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In millions)

(Unaudited)


	April 30, 2026		January 31, 2026
ASSETS
Current assets:
Cash and cash equivalents	$	2,671	$	2,249
Marketable securities	253		348
Accounts receivable, net	579		1,439

Prepaid expenses and other current assets	871		906
Total current assets	4,374		4,942
Long-term marketable securities	385		376
Computer equipment, software, furniture and leasehold improvements, net	122		121
Operating lease right-of-use assets	152		157
Intangible assets, net	453		467
Goodwill	4,337		4,295
Deferred income taxes, net	813		842
Long-term other assets	1,296		1,267
Total assets	$	11,932	$	12,467
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	403	$	422
Accrued compensation	360		659
Accrued income taxes	75		54
Deferred revenue	4,210		4,406
Operating lease liabilities	53		52


Other accrued liabilities	139		215
Total current liabilities	5,240		5,808
Long-term deferred revenue	247		287
Long-term operating lease liabilities	187		199
Long-term income taxes payable	186		181
Long-term deferred income taxes	45		40
Long-term notes payable, net	2,484		2,483
Long-term other liabilities	354		424
Stockholders’ equity:

Common stock and additional paid-in capital	4,726		4,709
Accumulated other comprehensive loss	(234)		(232)
Accumulated deficit	(1,303)		(1,432)
Total stockholders’ equity	3,189		3,045
Total liabilities and stockholders’ equity	$	11,932	$	12,467

See accompanying Notes to Condensed Consolidated Financial Statements.

AUTODESK, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In millions)

(Unaudited)


	Three Months Ended April 30,
	2026		2025
Operating activities:
Net income	$	491	$	152
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and accretion	51		48
Stock-based compensation expense	155		230
Amortization of costs to obtain a contract with a customer	172		96
Deferred income taxes	29		78


Restructuring-related asset impairments	—		14
Other operating activities	(38)		23
Changes in operating assets and liabilities, net of business combinations:
Accounts receivable	859		515
Prepaid expenses and other assets	(126)		(304)
Accounts payable and other liabilities	(488)		(111)
Deferred revenue	(238)		(204)
Accrued income taxes	26		27
Net cash provided by operating activities	893		564
Investing activities:
Purchases of marketable securities	(153)		(101)
Sales and maturities of marketable securities	239		175

Capital expenditures	(17)		(8)
Purchases of intangible assets	(9)		(7)
Business combinations, net of cash acquired	(55)		—
Purchases of strategic investments (1)	(5)		(1)
Other investing activities	29		—
Net cash provided by investing activities	29		58
Financing activities:
Proceeds from issuance of common stock, net of issuance costs	76		75
Taxes paid related to net share settlement of equity awards	(120)		(135)
Repurchases of common stock	(448)		(354)




Other financing activities	(6)		(1)
Net cash used in financing activities	(498)		(415)
Effect of exchange rate changes on cash and cash equivalents	(2)		10
Net increase in cash and cash equivalents	422		217
Cash and cash equivalents at beginning of period	2,249		1,599
Cash and cash equivalents at end of period	$	2,671	$	1,816

(1) “Purchases of strategic investments” were previously presented in “Other investing activities”. Prior period amounts have been reclassified to conform to the current period presentation. This presentation change did not have any impact to “Net cash provided by investing activities”.

See accompanying Notes to Condensed Consolidated Financial Statements.

AUTODESK, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

(In millions, except share and per share data, or as otherwise noted)

1. Basis of Presentation

The accompanying unaudited Condensed Consolidated Financial Statements of Autodesk, Inc. (“Autodesk,” “we,” “us,” “our,” or the “Company”) as of April 30, 2026, and for the three months ended April 30, 2026 and 2025, have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information along with the instructions to Form 10-Q and Article 10 of Securities and Exchange Commission (“SEC”) Regulation S-X. Accordingly, they do not include all of the information and notes required by GAAP for annual financial statements. In management’s opinion, Autodesk made all adjustments (consisting of normal, recurring and non-recurring adjustments) during the quarter that were considered necessary for the fair statement of the financial position and operating results of the Company. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect reported amounts in the financial statements and accompanying notes. Actual results could differ from those estimates. In addition, the results of operations for the three months ended April 30, 2026, are not necessarily indicative of the results for the entire fiscal year ending January 31, 2027, or for any other period. Further, the balance sheet as of January 31, 2026, has been derived from the audited Consolidated Balance Sheet as of this date. There have been no material changes, other than what is discussed herein, to Autodesk's significant accounting policies as compared to the significant accounting policies disclosed in the Annual Report on Form 10-K for the fiscal year ended January 31, 2026. These unaudited Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and related notes, together with management’s discussion and analysis of financial position and results of operations, contained in Autodesk’s Annual Report on Form 10-K for the fiscal year ended January 31, 2026, filed on March 3, 2026.

2. Recently Issued Accounting Standards

Recently Issued Accounting Standards Not Yet Adopted

In September 2025, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2025-06, “Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40)” (“ASU 2025-06”), which amends certain aspects of the accounting for and disclosure of software costs under Subtopic 350-40. ASU 2025-06 eliminates accounting consideration of software development “stages”. Cost capitalization will now begin solely when (1) management has authorized and committed to funding the software project, and (2) it is probable the project will be completed and the software used to perform its intended function (the probable-to-complete threshold). In evaluating the probable-to-complete recognition threshold, an entity is required to consider whether there is significant uncertainty associated with the development activities of the software. ASU 2025-06 specifies that the disclosures in Subtopic 360-10, Property, Plant, and Equipment—Overall, are required for all capitalized internal-use software costs, regardless of how those costs are presented in the financial statements. The amendments in ASU 2025-06 supersede the website development costs guidance and incorporate the recognition requirements for website-specific development costs from Subtopic 350-50 into Subtopic 350-40. ASU 2025-06 is effective for Autodesk’s fiscal year beginning February 1, 2028, and interim periods within that fiscal year. Early adoption is permitted. Autodesk is currently evaluating the effect of adopting ASU 2025-06 on its consolidated financial statements.

In November 2024, the FASB issued ASU No. 2024-03, “Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures” (“ASU 2024-03”), which requires disaggregated disclosures, in the notes to the financial statements, of certain categories of expenses that are included in expense line items on the face of the income statement. ASU 2024-03 also requires a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively, disclosure of the total amount of selling expenses, and in annual reporting periods, Autodesk’s definition of selling expenses. ASU 2024-03 is effective for Autodesk’s fiscal year beginning February 1, 2027, and interim periods for Autodesk’s fiscal year beginning February 1, 2028. Early adoption is permitted. Autodesk is currently evaluating the effect of adopting ASU 2024-03 on its disclosures.

Accounting Standards Adopted

There have been no other recent accounting pronouncements during the three months ended April 30, 2026, that may have a material impact on our financial position or results of operations.

3. Revenue Recognition

Revenue Disaggregation

Information regarding the components of Autodesk's net revenue from contracts with customers by product family, geographic location, and product type is as follows:


	Three Months Ended April 30,
	2026		2025
Net revenue by product family:
Architecture, Engineering, Construction and Operations	$	970	$	809
AutoCAD and AutoCAD LT	474		411
Manufacturing	367		309
Media and Entertainment	86		76
Other	37		28
Total net revenue	$	1,934	$	1,633

Net revenue by geographic area:
Americas
U.S.	$	682	$	585
Other Americas	162		140
Total Americas	844		725
Europe, Middle East and Africa	761		627
Asia Pacific	329		281
Total net revenue	$	1,934	$	1,633

Net revenue by product type:
Design	$	1,612	$	1,361
Make	224		179
Other	98		93
Total net revenue	$	1,934	$	1,633

Payments for subscriptions are typically due in annual installments or upfront. Autodesk does not have any material variable consideration, such as obligations for returns, refunds, warranties, or amounts due to customers for which significant estimation or judgment is required as of the reporting date.

Remaining performance obligations consist of total short-term, long-term, and unbilled deferred revenue. As of April 30, 2026, Autodesk had remaining performance obligations of $7.81 billion, which represents the total transaction price allocated to remaining performance obligations, which are generally recognized over the next three years. We expect to recognize $5.38 billion or 69% of our remaining performance obligations as revenue during the next 12 months. We expect to recognize the remaining $2.42 billion or 31% of our remaining performance obligations as revenue thereafter.

The amount of remaining performance obligations may be impacted by the specific timing, duration, and size of customer subscription and support agreements, the specific timing of customer renewals, and foreign currency fluctuations.

Contract Balances

We receive payments from customers based on a billing schedule as established in our contracts. Contract assets relate to performance completed in advance of scheduled billings. Contract assets were not material as of April 30, 2026 and January 31, 2026. Deferred revenue relates to billings in advance of performance under the contract. The primary changes in our contract assets and deferred revenues are due to our performance under the contracts and billings.

Revenue recognized during the three months ended April 30, 2026 and 2025, that was included in the deferred revenue balances at January 31, 2026 and 2025, was $1.61 billion and $1.35 billion, respectively. The satisfaction of performance obligations typically lags behind payments received under revenue contracts from customers.

4. Concentration of Credit Risk

Autodesk places its cash, cash equivalents, and marketable securities in highly liquid instruments with, and in the custody of, multiple diversified financial institutions globally with high credit ratings, and limits the amounts invested with any one institution, type of security, and issuer. Autodesk’s primary commercial banking relationship is with Citigroup Inc. and its global affiliates. Citibank, N.A., an affiliate of Citigroup, acts as administrative agent and a lender under Autodesk’s $1.5 billion revolving credit facility. See Note 11, “Borrowing Arrangements,” in the Notes to Condensed Consolidated Financial Statements for further discussion.

Total revenue from the Company's largest distributor TD Synnex Corporation and its global affiliates (“TD Synnex”) accounted for 9% and 20% of Autodesk’s total net revenue during the three months ended April 30, 2026 and 2025, respectively. The majority of the net revenue from sales to TD Synnex is from sales outside of the United States. In addition, TD Synnex accounted for 10% and 5% of trade accounts receivable at April 30, 2026, and January 31, 2026, respectively. No other customer accounted for more than 10% of Autodesk's total net revenue or trade accounts receivable for each of the respective periods.

5. Financial Instruments

The following tables summarize the Company's financial instruments by significant investment category as of April 30, 2026, and January 31, 2026:


	April 30, 2026
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Cash equivalents (1):
Money market funds	$	1,349	$	—	$	—	$	1,349
Commercial paper	213		—		—		213
Certificates of deposit	73		—		—		73
U.S. government securities	138		—		—		138


Agency discount notes	2		—		—		2



Marketable securities:
Short-term
Commercial paper	112		—		—		112
Corporate debt securities	82		—		—		82
U.S. government securities	13		—		—		13
Asset-backed securities	29		—		—		29
Certificates of deposit	5		—		—		5


Other (2)	12		—		—		12
Long-term
Corporate debt securities	164		—		—		164
Asset-backed securities	81		—		—		81
U.S. government securities	97		—		(1)		96
Agency mortgage-backed securities	23		—		—		23
Agency bonds	11		—		—		11
Other (3)	10		—		—		10
Mutual funds (4)	145		—		—		145
Total	$	2,559	$	—	$	(1)	$	2,558

(1)Included in “Cash and cash equivalents” in the accompanying Condensed Consolidated Balance Sheets. These investments are classified as debt securities.

(2)Primarily consists of agency mortgage backed securities.

(3)Primarily consists of sovereign government bonds.

(4)Investments in debt and equity securities that are held in a rabbi trust under non-qualified deferred compensation plans, $14 million was classified as current in “Prepaid expenses and other current assets” and $131 million was classified as non-current in “Long-term other assets” in the accompanying Condensed Consolidated Balance Sheets. The liability balance was $146 million in the accompanying Condensed Consolidated Balance Sheets.


	January 31, 2026
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Cash equivalents (1):
Money market funds	$	1,107	$	—	$	—	$	1,107
Commercial paper	163		—		—		163
Certificates of deposit	54		—		—		54
U.S government securities	96		—		—		96


Other (2)	1		—		—		1
Marketable securities:
Short-term
Commercial paper	155		—		—		155
Corporate debt securities	66		—		—		66
U.S government securities	67		—		—		67
Asset-backed securities	25		—		—		25
Certificates of deposit	16		—		—		16


Other (3)	19		—		—		19
Long-term
Corporate debt securities	156		1		—		157
Asset backed securities	85		—		—		85
U.S. government securities	83		—		—		83
Agency mortgage-backed securities	23		—		—		23

Other (4)	28		—		—		28
Mutual funds (5)	117		20		—		137
Total	$	2,261	$	21	$	—	$	2,282

(1)Included in “Cash and cash equivalents” in the accompanying Condensed Consolidated Balance Sheets. These investments are classified as debt securities.

(2)Consists primarily of corporate debt securities.

(3)Consists primarily of agency mortgage-backed securities and agency discount bonds.

(4)Consists primarily of agency bonds and sovereign government bonds.

(5)Investments in debt and equity securities that are held in a rabbi trust under non-qualified deferred compensation plans, $14 million was classified as current in “Prepaid expenses and other current assets” and $123 million was classified as non-current in “Long-term other assets” in the accompanying Condensed Consolidated Balance Sheets. The liability balance was $137 million in the accompanying Condensed Consolidated Balance Sheets.

The following table summarizes the fair values of investments classified as marketable debt securities by contractual maturity date as of April 30, 2026:


	Fair Value
Due within 1 year	$	213
Due after 1 year through 5 years	403
Due after 5 years through 10 years	17
Due after 10 years	5
Total	$	638

As of both April 30, 2026, and January 31, 2026, Autodesk had no material unrealized losses, individually and in the aggregate, for marketable debt securities that are in a continuous unrealized loss position for greater than 12 months. Total unrealized gains for securities with net gains in accumulated other comprehensive income were not material for the three months ended April 30, 2026.

Autodesk monitors all marketable debt securities for potential credit losses by reviewing indicators such as, but not limited to, current credit rating, change in credit rating, credit outlook, and default risk. There were no allowances for credit losses as of both April 30, 2026, and January 31, 2026. There were no write offs of accrued interest receivables for both the three months ended April 30, 2026 and 2025.

There were no material realized gains or losses for the sales or redemptions of marketable debt securities during both the three months ended April 30, 2026 and 2025. Realized gains and losses from the sales or redemptions of marketable debt securities are recorded in “Interest and other income, net” on the Company's Condensed Consolidated Statements of Operations.

Strategic investments in equity securities

As of April 30, 2026, and January 31, 2026, Autodesk had $406 million and $346 million in direct investments in privately held companies, respectively. These strategic investments in equity securities do not have readily determined fair values, and Autodesk uses the measurement alternative to account for the adjustment to these investments in a given quarter. If Autodesk determines that an impairment has occurred, Autodesk writes down the investment to its fair value. These strategic investments in equity securities are generally subject to a security-specific restriction which limits the sale or transfer of the respective equity security during the holding period.

Adjustments to the carrying value of our strategic investment equity securities with no readily determined fair values measured using the measurement alternative are included in “Interest and other income, net” on the Company's Condensed Consolidated Statements of Operations. These adjustments were as follows:


	Three Months Ended April 30,				Cumulative Amount as of
	2026		2025		April 30, 2026
Upward adjustments	$	60	$	—	$	89
Negative adjustments, including impairments	(1)		—		(141)
Net unrealized adjustments	$	59	$	—	$	(52)

Fair Value

Autodesk applies fair value accounting for certain financial assets and liabilities, which consist of cash equivalents, marketable securities, and other financial instruments, on a recurring basis. The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

The following tables summarize the Company's financial instruments measured at fair value on a recurring basis by significant investment category as of April 30, 2026, and January 31, 2026:


	April 30, 2026
		Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents (1):
Money market funds		$	1,349	$	—	$	—	$	1,349
Commercial paper		—		213		—		213
Certificates of deposit		—		73		—		73
U.S. government securities		—		138		—		138


Agency discount notes		—		2		—		2



Marketable securities:
Short-term
Commercial paper		—		112		—		112
Corporate debt securities		—		82		—		82
U.S. government securities		—		13		—		13
Asset-backed securities		—		29		—		29
Certificates of deposit		—		5		—		5


Other (2)		—		12		—		12
Long-term
Corporate debt securities		—		164		—		164
Asset-backed securities		—		81		—		81
U.S. government securities		—		96		—		96
Agency mortgage-backed securities		—		23		—		23
Agency bonds		—		11		—		11
Other (3)		—		10		—		10
Long-term other assets:
Mutual funds (4)		145		—		—		145
Derivative assets:
Derivative contract assets (5)		—		25		—		25
Derivative liabilities:
Derivative contract liabilities (6)		—		(22)		—		(22)
Total		$	1,494	$	1,067	$	—	$	2,561

(1)Included in “Cash and cash equivalents” in the accompanying Condensed Consolidated Balance Sheets. These investments are classified as debt securities.

(2)Primarily consists of agency mortgage backed securities.

(3)Primarily consists of sovereign government bonds.

(4)Investments in debt and equity securities that are held in a rabbi trust under non-qualified deferred compensation plans with a corresponding deferred compensation liability. Included in “Prepaid expenses and other current assets”, “Long-term other assets”, “Accrued compensation”, and “Long-term other liabilities,” in the accompanying Condensed Consolidated Balance Sheets.

(5)Included in “Prepaid expenses and other current assets” or “Long-term other assets” in the accompanying Condensed Consolidated Balance Sheets.

(6)Included in “Other accrued liabilities” in the accompanying Condensed Consolidated Balance Sheets.


	January 31, 2026
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents (1):
Money market funds	$	1,107	$	—	$	—	$	1,107
Commercial paper	—		163		—		163
Certificates of deposit	—		54		—		54
U.S government securities	—		96		—		96





Other (2)	—		1		—		1
Marketable securities:
Short-term
Commercial paper	—		155		—		155
Corporate debt securities	—		66		—		66
U.S government securities	—		67		—		67
Asset-backed securities	—		25		—		25
Certificates of deposit	—		16		—		16


Other (3)	—		19		—		19
Long-term
Corporate debt securities	—		157		—		157
Asset backed securities	—		85		—		85
U.S. government securities	—		83		—		83
Agency mortgage-backed securities	—		23		—		23

Other (4)	—		28		—		28
Long-term other assets:
Mutual funds (5)	137		—		—		137
Derivative assets:
Derivative contract assets (6)	—		26		—		26
Derivative liabilities:
Derivative contract liabilities (7)	—		(28)		—		(28)
Total	$	1,244	$	1,036	$	—	$	2,280

(1)Included in “Cash and cash equivalents” in the accompanying Condensed Consolidated Balance Sheets. These investments are classified as debt securities.

(2)Consists primarily of corporate debt securities.

(3)Consists primarily of agency mortgage-backed securities and agency discount notes.

(4)Consists primarily of agency bonds and sovereign government bonds.

(5)Investments in debt and equity securities that are held in a rabbi trust under non-qualified deferred compensation plans with a corresponding deferred compensation liability. Included in “Prepaid expenses and other current assets”, “Long-term other assets”, “Accrued compensation”, and “Long-term other liabilities,” in the accompanying Condensed Consolidated Balance Sheets.

(6)Included in “Prepaid expenses and other current assets,” or “Long-term other assets,” in the accompanying Condensed Consolidated Balance Sheets.

(7)Included in “Other accrued liabilities” in the accompanying Condensed Consolidated Balance Sheets.

6. Equity Compensation

Restricted Stock Units

A summary of restricted stock activity for the three months ended April 30, 2026, is as follows:


	Unvested restricted stock units	Weighted average grant date fair value per share
	(in thousands)
Unvested restricted stock units at January 31, 2026	4,477	$	255.39
Granted	2,794	224.92
Vested	(1,452)	247.95
Canceled/Forfeited	(120)	251.70
Performance Adjustment (1)	32	289.05
Unvested restricted stock units at April 30, 2026	5,731	$	242.21

(1)Based on Autodesk's financial results and relative total stockholder return for the fiscal 2026 performance period. The performance stock units were attained at rates ranging from 103% to 126% of the target award.

The fair value of the shares vested during the three months ended April 30, 2026 and 2025, was $363 million and $428 million, respectively.

During the three months ended April 30, 2026, Autodesk granted 2 million restricted stock units. Restricted stock units are not considered outstanding stock at the time of grant, as the holders of these units are not entitled to any of the rights of a stockholder, including voting rights.

Autodesk recorded stock-based compensation expense related to restricted stock units of $127 million and $140 million during the three months ended April 30, 2026 and 2025, respectively.

During the three months ended April 30, 2026, Autodesk granted 350 thousand performance stock units for which the ultimate number of shares earned is determined based on the achievement of performance criteria at the end of the stated performance period. The performance criteria for the performance stock units are based on the achievement of specified performance goals adopted by the Compensation and Human Resource Committee and total stockholder return compared against companies in the S&P North American Technology Software Index with a market capitalization over $2.0 billion (“Relative TSR”). The fair value of the performance stock units is expensed using the accelerated attribution method over the three-year vesting period and the performance stock units have the following vesting schedule:

Up to one third of the performance stock units may vest following year one, depending upon the achievement of the performance criteria for fiscal 2027 as well as one-year Relative TSR (covering year one) or vest following year three depending upon the achievement of the performance criteria for fiscal 2027 as well as a 3-year Relative TSR (covering years one, two and three).
Up to one third of the performance stock units may vest following year two, depending upon the achievement of the performance criteria for fiscal 2028 as well as 2-year Relative TSR (covering years one and two) or vest following year three depending upon the achievement of the performance criteria for fiscal 2028 as well as a 3-year Relative TSR (covering years one, two and three).
Up to one third of the performance stock units may vest following year three, depending upon the achievement of the performance criteria for fiscal 2029 as well as 3-year Relative TSR (covering years one, two and three) or vest following year three depending upon the achievement of the performance criteria for fiscal 2029 as well as a 3-year Relative TSR (covering years one, two and three).

Performance stock units are not considered outstanding stock at the time of grant, as the holders of these units are not entitled to any of the rights of a stockholder, including voting rights.

Autodesk recorded stock-based compensation expense related to performance stock units of $15 million and $21 million for the three months ended April 30, 2026 and 2025, respectively.

1998 Employee Qualified Stock Purchase Plan (“ESPP”)

Under Autodesk’s ESPP, which was approved by stockholders in 1998, eligible employees may purchase shares of Autodesk’s common stock at their discretion using up to 15% of their eligible compensation, subject to certain limitations, at 85% of the lower of Autodesk's closing price (fair market value) on the offering date or the exercise date. The offering period for ESPP awards consists of four, six-month exercise periods within a 24-month offering period.

A summary of the ESPP activity for the three months ended April 30, 2026 and 2025, is as follows:


	Three Months Ended April 30,
	2026		2025
Issued shares (in thousands)	372		343
Average price of issued shares	$	203.49	$	218.20
Weighted average grant date fair value of shares granted under the ESPP (1)	$	73.20	$	76.56

(1)Calculated as of the award grant date using the Black-Scholes Merton (“BSM”) option pricing model.

Stock-based Compensation Expense

The following table summarizes stock-based compensation expense for the three months ended April 30, 2026 and 2025, as follows:


	Three Months Ended April 30,
	2026		2025
Cost of subscription revenue	$	9	$	11
Cost of other revenue	3		4
Marketing and sales	49		97
Research and development	73		89
General and administrative	21		29
Stock-based compensation expense related to stock awards and ESPP purchases	$	155	$	230

During the three months ended April 30, 2025, Autodesk recorded $54 million in stock-based compensation expense reflecting a cumulative adjustment since fiscal 1999 related to the Company’s ESPP. The differences were not material to any prior interim or annual periods.

Stock-based Compensation Expense Assumptions

Autodesk determines the grant date fair value of its share-based payment awards BSM option pricing model or the quoted stock price on the date of grant, unless the awards are subject to market conditions, in which case Autodesk uses the Monte Carlo simulation model. The Monte Carlo simulation model uses multiple input variables to estimate the probability that market conditions will be achieved. Autodesk uses the following assumptions to estimate the fair value of stock-based awards:


	Three Months Ended April 30, 2026		Three Months Ended April 30, 2025
	Performance Stock Units	ESPP	Performance Stock Units	ESPP
Range of expected volatility	35.1 - 36.7%	33.9 - 34.8%	29.7 - 33.4%	29.1 - 29.5%
Range of expected lives (in years)	N/A	0.5 - 2.0	N/A	0.5 - 2.0
Expected dividends	—%	—%	—%	—%
Range of risk-free interest rates	3.7 - 3.9%	3.7%	3.8 - 4.1%	4.0 - 4.3%

Autodesk estimates expected volatility for stock-based awards based on the average of the following two measures: (1) a measure of historical volatility in the trading market for the Company’s common stock, and (2) the implied volatility of traded options to purchase shares of the Company’s common stock. The expected volatility for performance stock units subject to market conditions includes the expected volatility of companies within the S&P North American Technology Software Index with a market capitalization over $2.0 billion, depending on the award type.

The range of expected lives of ESPP awards are based upon the four six-month exercise periods within a 24-month offering period.

Autodesk does not currently pay, and does not anticipate paying in the foreseeable future, any cash dividends. Consequently, an expected dividend yield of zero is used in the BSM option pricing model and the Monte Carlo simulation model.

The risk-free interest rate used in the BSM option pricing model and the Monte Carlo simulation model for stock-based awards is the historical yield on U.S. Treasury securities with equivalent remaining lives.

Autodesk recognizes expense only for the stock-based awards that ultimately vest. Autodesk accounts for forfeitures of our stock-based awards as those forfeitures occur.

7. Income Tax

Autodesk had income tax expense of $108 million, relative to pre-tax income of $599 million for the three months ended April 30, 2026, and income tax expense of $82 million, relative to pre-tax income of $234 million for the three months ended April 30, 2025. Our effective tax rate for the three months ended April 30, 2026, differs from the U.S. federal statutory rate of 21% primarily due to tax on net controlled foreign corporation tested income (“NCTI”) and withholding tax, reduced by varying tax rates on foreign earnings, tax-deductible stock-based compensation, benefits arising from the foreign-derived deduction-eligible income (“FDDEI”) regime, and tax credits.

8. Cloud Computing Arrangements

Autodesk enters into certain cloud-based software hosting arrangements that are accounted for as service contracts. Costs incurred for these arrangements are capitalized for application development activities, if material, and immediately expensed for preliminary project activities and post-implementation activities. Autodesk amortizes the capitalized development costs straight-line over the fixed, non-cancellable term of the associated hosting arrangement plus any reasonably certain renewal periods. The capitalized costs are included in “Prepaid expenses and other current assets” and “Long-term other assets” on our Condensed Consolidated Balance Sheets. Capitalized costs were $387 million and $380 million at April 30, 2026, and January 31, 2026, respectively. Accumulated amortization was $187 million and $175 million at April 30, 2026, and January 31, 2026, respectively. Amortization expense for the three months ended April 30, 2026 and 2025, was $12 million and $10 million, respectively.

9. Costs to Obtain a Contract with a Customer

Sales commissions earned by our internal sales personnel and our solution providers are considered incremental and recoverable costs of obtaining a contract with a customer. The ending balance of assets recognized from costs to obtain a contract with a customer was $820 million as of April 30, 2026, and $913 million as of January 31, 2026. These assets are recorded in “Prepaid expenses and other current assets” and “Long-term other assets” in the Condensed Consolidated Balance Sheet. The liabilities associated with the commission costs were $382 million and $550 million as of April 30, 2026 and January 31, 2026, respectively. These liabilities are included in “Accounts payable”, “Accrued compensation”, and “Long-term other liabilities,” in the accompanying Condensed Consolidated Balance Sheets. Amortization expense related to assets recognized from costs to obtain a contract with a customer was $172 million during the three months ended April 30, 2026. Amortization expense related to assets recognized from costs to obtain a contract with a customer was $96 million during the three months ended April 30, 2025. Autodesk did not recognize any contract cost impairment losses during both the three months ended April 30, 2026 and 2025.

10. Balance Sheet Components

Intangible Assets, Net

The following tables summarize the Company's intangible assets, net, as of April 30, 2026, and January 31, 2026:


	April 30, 2026
	Gross Carrying Amount		Accumulated Amortization		Net
Customer relationships	$	752	$	(546)	$	206
Developed technologies	1,208		(971)		237
Trade names and patents	122		(118)		4
Other	9		(3)		6
Total intangible assets	$	2,091	$	(1,638)	$	453


	January 31, 2026
	Gross Carrying Amount		Accumulated Amortization		Net
Customer relationships	$	749	$	(534)	$	215
Developed technologies	1,189		(947)		242
Trade names and patents	122		(118)		4
Other	9		(3)		6
Total intangible assets	$	2,069	$	(1,602)	$	467

Computer Equipment, Software, Furniture, and Leasehold Improvements, Net

Computer equipment, software, furniture and equipment, and leasehold improvements, and the related accumulated depreciation were as follows:


	April 30, 2026		January 31, 2026
Computer hardware, at cost	$	91	$	90
Computer software, at cost	71		61
Furniture and equipment, at cost	104		104
Leasehold improvements, land and buildings, at cost	347		349
	613		604
Less: Accumulated depreciation	(491)		(483)
Computer equipment, software, furniture, and leasehold improvements, net	$	122	$	121

Goodwill

Goodwill consists of the excess of the consideration transferred over the fair value of net assets acquired in business combinations. The following table summarizes the changes in the carrying amount of goodwill for the three months ended April 30, 2026, (in millions):


Balance as of January 31, 2026 (1)	$	4,295
Additions arising from acquisitions during the period	46
Effect of foreign currency translation	(4)
Balance as of April 30, 2026 (1)	$	4,337

(1)Accumulated impairment losses as of both January 31, 2026 and April 30, 2026, were $149 million.

11. Borrowing Arrangements

Credit Agreement

In May 2025, the Company terminated its previous credit agreement and entered into a new Credit Agreement (“2025 Credit Agreement”) by and among the Company, the lenders party thereto and Citibank, N.A. (“Citibank”), as administrative agent, which provides for an unsecured revolving loan facility in the aggregate principal amount of $1.5 billion, with an option to increase the principal amount to $2 billion subject to receipt of additional commitments and other customary conditions. The revolving credit facility is available for working capital and general corporate purposes. The 2025 Credit Agreement contains customary covenants that could, among other things, restrict the imposition of liens on Autodesk’s assets, and restrict Autodesk’s ability to incur additional indebtedness or make dispositions of assets if Autodesk fails to maintain compliance with the financial covenants. The 2025 Credit Agreement requires the Company to maintain a maximum leverage ratio of Consolidated Covenant Debt to Consolidated EBITDA (each as defined in the 2025 Credit Agreement) no greater than 3.50:1.00 during the term of the credit facility, subject to adjustment following the consummation of certain acquisitions up to 4.00:1.00 for up to four consecutive fiscal quarters. At April 30, 2026, Autodesk was in compliance with the 2025 Credit Agreement covenants. Revolving loans under the 2025 Credit Agreement will bear interest, at the Company’s option, at either (i) a per annum rate equal to the Base Rate (as defined in the 2025 Credit Agreement) or (ii) a per annum rate equal to the rate at which dollar deposits are offered in the Secured Overnight Financing Rate, plus a margin of between 0.575% and 1.000%, depending on the Company’s Public Debt Rating. The Company is also obligated to pay to each lender a facility fee on a quarterly basis based on amounts committed (whether used or unused) under the revolving facility of between 0.050% and 0.125% per annum, depending on the Company’s Public Debt Rating. The scheduled termination date under the 2025 Credit Agreement is May 8, 2030, which termination date may be extended with respect to some or all of the commitments under the 2025 Credit Agreement subject to certain terms and conditions, including the consent of each lender holding commitments to be extended. As of April 30, 2026, Autodesk had no outstanding borrowings under the 2025 Credit Agreement.

Senior Notes

The outstanding borrowings as of April 30, 2026, were as follows:


Instrument	Date of Issuance	Principal Outstanding		Fair value
5.30% senior notes due June 15, 2035	June 2025	$	500	$	504
2.40% senior notes due December 15, 2031	October 2021	1,000		885
2.85% senior notes due January 15, 2030	January 2020	500		471
3.50% senior notes due June 15, 2027	June 2017	500		496
Total principal outstanding		2,500
Less unamortized debt discount and issuance costs (1)		16
Total notes payable, net		$	2,484

(1)Both the debt discount and issuance costs are being amortized to interest expense over the term of the senior notes using the effective interest method.

The June 2025 Notes, October 2021 Notes, January 2020 Notes, and the June 2017 Notes may all be redeemed at any time, subject to a make whole premium. In addition, upon the occurrence of certain change of control triggering events, Autodesk may be required to repurchase all the aforementioned notes, at a price equal to 101% of their principal amount, plus accrued and unpaid interest to the date of repurchase. All notes contain restrictive covenants that limit Autodesk's ability to create certain liens, to enter into certain sale and leaseback transactions and to consolidate or merge with, or convey, transfer, or lease all or substantially all of its assets, subject to important qualifications and exceptions.

The expected future principal payments for all borrowings as of April 30, 2026, were as follows (in millions):



Fiscal year ending
2027 (remainder)	$	—
2028	500
2029	—
2030	500
2031	—
Thereafter	1,500
Total principal outstanding	$	2,500

12. Derivative Instruments

The effects of derivatives designated as hedging instruments on Autodesk’s Condensed Consolidated Statements of Operations were as follows for the three months ended April 30, 2026 and 2025 (amounts presented include any income tax effects):


	Three Months Ended April 30,
	2026		2025
Amount of gain (loss) recognized in accumulated other comprehensive income, net of tax, (effective portion)	$	10	$	(23)
Amount and location of gain (loss) reclassified from accumulated other comprehensive loss into income (effective portion)
Net revenue	$	(10)	$	8

Operating expenses	—		(5)
Total	$	(10)	$	3

The amount and location of gains or losses recognized in net income of derivatives not designated as hedging instruments on Autodesk’s Condensed Consolidated Statements of Operations were as follows for the three months ended April 30, 2026 and 2025, (amounts presented include any income tax effects):


	Three Months Ended April 30,
	2026		2025
Amount and location of (loss) gain recognized in net income
Operating income (expense)	$	3	$	—
Interest and other income (loss), net	6		(31)

See Note 5, “Financial Instruments” for the fair values of derivative instruments in Autodesk’s Condensed Consolidated Balance Sheets as of April 30, 2026, and January 31, 2026.

Foreign currency contracts designated as cash flow hedges

Autodesk uses foreign currency contracts to reduce the exchange rate impact on a portion of the net revenue or operating expense of certain anticipated transactions. These currency collars and forward contracts are designated and documented as cash flow hedges. The notional amounts of these contracts are presented net settled and were $2.27 billion at April 30, 2026, and $2.06 billion at January 31, 2026. Outstanding contracts are recognized as either assets or liabilities on the Company's Condensed Consolidated Balance Sheet at fair value. The majority of the net loss of $7 million remaining in “Accumulated other comprehensive loss” as of April 30, 2026, is expected to be recognized into earnings within the next 24 months.

Derivatives not designated as hedging instruments

Autodesk uses foreign currency contracts that are not designated as hedging instruments to reduce the exchange rate risk associated primarily with foreign currency denominated receivables, payables, and cash. The notional amounts of these foreign currency contracts are presented net settled and were $450 million at April 30, 2026, and $858 million at January 31, 2026.

13. Restructuring, Other Exit Costs, and Facility Reductions

During the fiscal year ended January 31, 2026, Autodesk initiated a restructuring plan (“January 2026 Plan”) that represents the culmination of Autodesk’s sales and marketing optimization program. The January 2026 Plan also reallocates resources in certain other functions to accelerate Autodesk’s strategic priorities. Autodesk expects to complete the January 2026 Plan by the end of the fiscal year ending January 31, 2027.

The following table summarizes the activity in the restructuring and other exit costs liability for the three months ended April 30, 2026:


	Balances, January 31, 2026		Additions (3)		Payments		Balances, April 30, 2026

Employee terminations costs (1)	$	97	$	27	$	(75)	$	49
Other exit costs (2)	2		3		(2)		3
Total	$	99	$	30	$	(77)	$	52

(1) Recorded in the Condensed Consolidated Balance Sheets under “Accrued compensation."

(2) Recorded in the Condensed Consolidated Balance Sheets under “Accounts payable."

(3) Recorded in the Condensed Consolidated Statements of Operations under “Restructuring, other exit costs, and facility reductions”.

14. Commitments and Contingencies

Guarantees and Indemnifications

In the normal course of business, Autodesk provides indemnifications of varying scopes, including limited product warranties and indemnification of customers against claims of intellectual property infringement made by third parties arising from the use of its products or services. Autodesk accrues for known indemnification issues if a loss is probable and can be reasonably estimated. Historically, costs related to these indemnifications have not been significant, and because potential future costs are highly variable, Autodesk is unable to estimate the maximum potential impact of these indemnifications on its future results of operations.

In connection with the purchase, sale, or license of assets or businesses with third parties, Autodesk has entered into or assumed customary indemnification agreements related to the assets or businesses purchased, sold, or licensed. Historically, costs related to these indemnifications have not been significant, and because potential future costs are highly variable, Autodesk is unable to estimate the maximum potential impact of these indemnifications on its future results of operations.

As permitted under Delaware law, Autodesk has agreements whereby it indemnifies its officers and directors for certain events or occurrences while the officer or director is, or was, serving at Autodesk’s request in such capacity. The maximum potential amount of future payments Autodesk could be required to make under these indemnification agreements is unlimited; however, Autodesk has directors’ and officers’ liability insurance coverage that is intended to reduce its financial exposure and may enable Autodesk to recover a portion of any future amounts paid. Autodesk believes the estimated fair value of these indemnification agreements in excess of applicable insurance coverage is minimal.

Legal Proceedings

Autodesk is involved in a variety of claims, suits, inquiries, investigations, and proceedings in the normal course of business including claims of alleged infringement of intellectual property rights, commercial, employment, tax, prosecution of unauthorized use, business practices, and other matters. Autodesk routinely reviews the status of each significant matter and assesses its potential financial exposure. If the potential loss from any matter is considered probable and the amount can be reasonably estimated, Autodesk records a liability for the estimated loss. Because of inherent uncertainties related to these legal matters, Autodesk bases its loss accruals on the best information available at the time. As additional information becomes available, Autodesk reassesses its potential liability and may revise its estimates. In the Company’s opinion, resolution of pending matters is not expected to have a material adverse impact on its consolidated results of operations, cash flows, or its financial position. Given the unpredictable nature of legal proceedings, there is a reasonable possibility that an unfavorable resolution of one or more such proceedings could in the future materially affect the Company’s results of operations, cash flows, or financial position in a particular period, however, based on the information known by the Company as of the date of this filing and the rules and regulations applicable to the preparation of the Company’s financial statements, any such amount is either immaterial or it is not possible to provide an estimated amount of any such potential loss.

In early March 2024, the Audit Committee of Autodesk’s Board of Directors commenced an internal investigation with the assistance of outside counsel and advisors regarding the Company’s free cash flow and non-GAAP operating margin practices (the “Internal Investigation”). On April 24, 2024, Michael Barkasi filed a purported federal securities class action complaint in the Northern District of California against the Company, our Chief Executive Officer, Andrew Anagnost, and our former Chief Financial Officer, Deborah L. Clifford. The complaint, which was filed shortly after the Company’s announcement of the Internal Investigation, generally alleged that the defendants made false and misleading statements in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”), and Rule 10b-5 promulgated thereunder. On July 10, 2024, the Court appointed a lead plaintiff in the action, and an amended complaint was filed on September 16, 2024. The action purported to be brought on behalf of those who purchased or otherwise acquired the Company’s securities between February 23, 2023 and April 16, 2024, and sought unspecified damages and other relief. On November 25, 2024, defendants filed a motion to dismiss the complaint. On July 18, 2025, the Court granted defendants’ motion to dismiss with leave to amend.

On August 8, 2025, plaintiffs filed an amended complaint, which purported to assert claims under Sections 10(b) and 20(a) of the Exchange Act, and Rule 10b-5 promulgated thereunder. Defendants’ motion to dismiss the amended complaint was filed on August 29, 2025. On January 26, 2026, the Court granted defendants’ motion to dismiss the amended complaint with prejudice. On February 12, 2026, the Court entered judgment. Plaintiffs filed a notice of appeal on March 12, 2026 and filed an opening brief on appeal on May 27, 2026. At this stage, the Company cannot reasonably estimate the amount of any possible financial loss that could result from this matter.

15. Stockholders' Equity

Changes in stockholders' equity by component, net of tax, for the three months ended April 30, 2026, are as follows:


	Common stock and additional paid-in capital				Accumulated other comprehensive loss		Accumulated deficit		Total stockholders' equity
Shares		Amount
Balances, January 31, 2026	212		$	4,709	$	(232)	$	(1,432)	$	3,045
Common shares issued under stock plans	1		(55)		—		—		(55)
Stock-based compensation expense	—		159		—		—		159





Net income	—		—		—		491		491
Other comprehensive loss	—		—		(2)		—		(2)
Repurchase and retirement of common shares (1)	(2)		(87)		—		(362)		(449)
Balances, April 30, 2026	211		$	4,726	$	(234)	$	(1,303)	$	3,189

(1)During the three months ended April 30, 2026, Autodesk repurchased 2 million shares at an average repurchase price of $239.87 per share. At April 30, 2026, $2.04 billion and $5 billion remained available for repurchase under the November 2022 and November 2024 repurchase programs approved by the Board of Directors, respectively.

Changes in stockholders' equity by component, net of tax, for the three months ended April 30, 2025, are as follows:


	Common stock and additional paid-in capital				Accumulated other comprehensive loss		Accumulated deficit		Total stockholders' equity
Shares		Amount
Balances, January 31, 2025	214		$	4,239	$	(285)	$	(1,333)	$	2,621
Common shares issued under stock plans	1		(73)		—		—		(73)
Stock-based compensation expense	—		233		—		—		233




Net income	—		—		—		152		152
Other comprehensive income	—		—		37		—		37
Repurchase and retirement of common shares (1)	(1)		(75)		—		(278)		(353)
Balances, April 30, 2025	214		$	4,324	$	(248)	$	(1,459)	$	2,617

(1)During the three months ended April 30, 2025, Autodesk repurchased 1 million shares at an average repurchase price of $268.67 per share. At April 30, 2025, $3.53 billion and $5 billion remained available for repurchase under the November 2022 and November 2024 repurchase programs approved by the Board of Directors, respectively.

16. Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss, net of taxes, consisted of the following at April 30, 2026:


	Net Unrealized Gains (Losses) on Derivative Instruments		Net Unrealized Gains (Losses) on Available-for-Sale Debt Securities		Defined Benefit Pension Components		Foreign Currency Translation Adjustments		Total
Balances, January 31, 2026	$	(17)	$	22	$	(27)	$	(210)	$	(232)
Other comprehensive income (loss) before reclassifications	1		7		—		(12)		(4)
Pre-tax loss reclassified from accumulated other comprehensive loss	10		—		—		—		10
Tax effects	(1)		(6)		—		(1)		(8)
Net current period other comprehensive income (loss)	10		1		—		(13)		(2)
Balances, April 30, 2026	$	(7)	$	23	$	(27)	$	(223)	$	(234)

Accumulated other comprehensive loss, net of taxes, consisted of the following at April 30, 2025:


	Net Unrealized Gains (Losses) on Derivative Instruments		Net Unrealized Gains (Losses) on Available-for-Sale Debt Securities		Defined Benefit Pension Components		Foreign Currency Translation Adjustments		Total
Balances, January 31, 2025	$	24	$	20	$	(25)	$	(304)	$	(285)
Other comprehensive (loss) income before reclassifications	(22)		1		1		61		41
Pre-tax gains reclassified from accumulated other comprehensive loss	(3)		—		—		—		(3)
Tax effects	2		—		—		(3)		(1)
Net current period other comprehensive (loss) income	(23)		1		1		58		37
Balances, April 30, 2025	$	1	$	21	$	(24)	$	(246)	$	(248)

Reclassifications related to gains and losses on available-for-sale debt securities are included in “Interest and other income, net.” Refer to Note 12, “Derivative Instruments,” for the amount and location of reclassifications related to derivative instruments. Reclassifications of the defined benefit pension components of net periodic benefit cost are included in “Interest and other income, net.”

17. Net Income Per Share

Basic net income per share is computed using the weighted average common shares outstanding for the period. Diluted net income per share is computed using the weighted average common shares outstanding for the period and potentially dilutive common shares, including unvested restricted stock units, performance share awards, and stock options using the treasury stock method. The following table sets forth the computation of the numerators and denominators used in the basic and diluted net income per share amounts:


	Three Months Ended April 30,
	2026		2025
Numerator:
Net income	$	491	$	152
Denominator:
Denominator for basic net income per share—weighted average shares	211		214
Effect of dilutive securities	1		2
Denominator for dilutive net income per share	212		216
Basic net income per share	$	2.33	$	0.71
Diluted net income per share	$	2.32	$	0.70

The computation of diluted net income per share does not include shares that are anti-dilutive under the treasury stock method because their exercise prices are higher than the average market value of Autodesk’s stock during the periods. For the three months ended April 30, 2026, there were 600 thousand anti-dilutive shares excluded from the computation of diluted net income per share. For the three months ended April 30, 2025, there were 180 thousand anti-dilutive shares excluded from the computation of diluted net income per share.

18. Segments

Autodesk operates in one operating and reportable segment, the Company as a whole. The chief operating decision maker (“CODM”) assesses performance and decides how to allocate resources based on consolidated net income as reported on the Condensed Consolidated Statements of Operations. Operating segments are defined as components of an enterprise for which separate financial information is evaluated regularly by the CODM in deciding how to allocate resources and assess performance. Autodesk reports segment information based on the “management” approach. The management approach designates the internal reporting used by management for making decisions, allocating resources, and assessing performance as the source of the Company’s reportable segments. The description of Autodesk’s products and offerings and accounting policies are described in Note 1, “Business and Summary of Significant Accounting Policies” in Autodesk’s Annual Report on Form 10-K for the fiscal year ended January 31, 2026, filed on March 3, 2026. The measure of Autodesk’s segment assets is reported on the Condensed Consolidated Balance Sheets as total assets. Autodesk determined that the Company’s Chief Executive Officer, serves as the CODM.

The CODM reviews financial information presented on a consolidated basis for purposes of allocating resources, evaluating financial performance, and making operating decisions of Autodesk. Consolidated net income is indicative of financial performance and is monitored by the CODM. The CODM considers budget to actual comparisons of total net revenue and consolidated net income on a regular basis when assessing the operating results and making resource decisions to improve profitability. The CODM also uses the budget to actual comparisons of total net revenue and consolidated net income to make decisions aligned with Autodesk’s strategic initiatives and go-to market strategies and capital allocation priorities. Autodesk’s significant segment expenses include the costs and expenses presented on the Condensed Consolidated Statements of Operations as well as stock-based compensation expense as presented in Note 6, “Equity Compensation”.

The following table presents information about Autodesk’s other segment disclosures:


	Three Months Ended April 30,
	2026		2025
Interest income	$	24	$	19
Interest expense	21		18
Depreciation, amortization, and accretion expense	51		48
Amortization of costs to obtain a contract with a customer	172		96

Other significant non-cash items include stock-based compensation. See Note 6, “Equity Compensation”.

Information regarding Autodesk's long-lived assets by geographic area were as follows:


	April 30, 2026		January 31, 2026
Long-lived assets:
Americas
U.S.	$	159	$	152
Other Americas	14		15
Total Americas	173		167
Europe, Middle East, and Africa	53		56
Asia Pacific	48		55
Total long-lived assets	$	274	$	278

19. Subsequent Events

On May 28, 2026, Autodesk entered into a definitive agreement to acquire MaintainX, Inc. (“MaintainX”), a leading modern maintenance and asset operations solution used by organizations to manage and optimize day-to-day operations, pursuant to an Agreement and Plan of Merger (the “Merger Agreement”), for an aggregate consideration of approximately $3.6 billion in cash for all outstanding shares of capital stock and vested stock options, subject to certain exceptions and adjustments, as provided by the Merger Agreement. MaintainX's modern, mobile-first solution helps organizations manage and optimize day-to-day-operations. The proposed acquisition of MaintainX is expected to help customers better connect data and workflows across the lifecycle, linking digital intent with real-world performance in a continuous closed-loop system. The proposed transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close later in fiscal 2027. Autodesk expects to use debt and available cash to fund the proposed acquisition.

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