AUTODESK $ADSK Q2’27 EARNINGS HIGHLIGHTS 🔹 Revenue: $2.05B (Est. $2.01B) 🟢; +16% YoY 🔹 Adj. EPS: $3.30 (Est. $3.12) 🟢 🔹 Non-GAAP Operating Margin: 41%; +2 pts YoY 🔹 Free Cash Flow: $561M; +24% YoY FY27 Guide: 🔹 Revenue: $8.30B-$8.35B (Est. $8.21B) 🟢 🔹 Non-GAAP EPS: $12.52-$12.60 (Est. $12.60) 🟡 🔹 Free Cash Flow: $2.73B-$2.75B (Est. $2.68B) 🟢 🔹 Billings: $8.58B-$8.65B 🔹 GAAP Operating Margin: 25%-27% 🔹 Non-GAAP Operating Margin: ~39% 🔹 GAAP EPS: $7.89-$8.72 Q3 Guide: 🔹 Revenue: $2.13B-$2.14B (Est. $2.08B) 🟢 🔹 Adj. EPS: $3.04-$3.09 (Est. $3.14) 🔴 🔹 GAAP EPS: $1.57-$1.87 Segment Net Revenue: 🔹 Design: $1.7B; +16% YoY 🔹 Make: $244M; +26% YoY 🔹 Other: $94M; -3% YoY Other Q2 Metrics: 🔹 Billings: $1.85B; +10% YoY 🔹 GAAP Operating Margin: 29%; +4 pts YoY 🔹 Cash Flow From Operating Activities: $575M; +25% YoY Comments: 🔸 “We have increased our fiscal 27 billings and revenue growth guidance to reflect higher underlying growth expectations, as well as the incremental contribution from MaintainX.” 🔸 “We've narrowed our fiscal 27 free cash flow expectations reflecting stronger underlying expectations offset by the operating and net financing costs for MaintainX”