Overview
- Autodesk reported first-quarter fiscal 2027 results on Friday, May 29, 2026, with revenue of $1.93 billion, non‑GAAP EPS of $2.99, $876 million in free cash flow, and $448 million in share buybacks while lifting full‑year guidance.
- The company announced an all‑cash $3.6 billion purchase of San Francisco maintenance‑software firm MaintainX that will be funded with $1.6 billion in cash and $2 billion in new borrowing and is expected to close in fiscal 2027 pending approvals.
- Investors reacted to the price and financing: MaintainX is projected to exceed roughly $135 million in ARR in 2026, implying about a 27x ARR multiple, and Autodesk stock fell more than 5% in premarket trading.
- Autodesk says the deal will be neutral to its fiscal 2027 and 2029 non‑GAAP operating margin targets and accretive to revenue on close, while Wall Street views are mixed with some firms trimming price targets and others keeping buy ratings.
- The transaction raises near‑term risks to watch: potential margin pressure from integration, added leverage from the $2 billion borrowing, regulatory approval timing, and whether MaintainX hits growth and ARR expectations that justify the premium multiple.