Autodesk, Inc. stock research
FY2025 Q2
Autodesk (ADSK) Gross Margin — Quarter Ended Jul 31, 2024
Revenue increased compared to both the prior quarter and the same quarter last year, driving a higher gross profit. Cost of revenue also rose over both periods, but gross margin improved slightly from the prior quarter and remained nearly stable versus the year-ago quarter.
Gross margin takeaway
Quarter ended Jul 31, 2024 · FY2025 Q2
Revenue increased compared to both the prior quarter and the same quarter last year, driving a higher gross profit. Cost of revenue also rose over both periods, but gross margin improved slightly from the prior quarter and remained nearly stable versus the year-ago quarter.
- The strongest observable margin driver is the increase in subscription revenue, which grew faster than total cost of revenue, supporting the higher gross margin. An item to monitor is the growth in amortization of developed technologies within cost of revenue.
- Compared to the prior quarter, gross margin was higher, while compared to the same quarter last year it was stable. Revenue and gross profit were higher in both comparisons, while cost of revenue was moderately higher.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
90.7%
Gross profit
$1.4B
Revenue
$1.5B
Cost of revenue
$140.0M
Quarter-over-quarter change
+0.4 pts
Year-over-year change
+0.1 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Oct 31, 2023 | $1.4B | $1.3B | $127.0M | 91.0% |
| Jan 31, 2024 | $1.5B | $1.3B | $130.0M | 91.2% |
| Apr 30, 2024 | $1.4B | $1.3B | $137.0M | 90.3% |
| Jul 31, 2024 | $1.5B | $1.4B | $140.0M | 90.7% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Apr 30, 2024
+0.4 pts
Year-over-year change
Jul 31, 2023
+0.1 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable margin driver is the increase in subscription revenue, which grew faster than total cost of revenue, supporting the higher gross margin. An item to monitor is the growth in amortization of developed technologies within cost of revenue.
Compared to the prior quarter, gross margin was higher, while compared to the same quarter last year it was stable. Revenue and gross profit were higher in both comparisons, while cost of revenue was moderately higher.
Monitor the trajectory of amortization of developed technologies, as it increased compared to both the prior quarter and the year-ago quarter within cost of revenue.