Autodesk, Inc. stock research
FY2026 Q2
Autodesk (ADSK) Gross Margin — Quarter Ended Jul 31, 2025
Revenue and gross profit both increased compared to the prior quarter and the same quarter last year, while cost of revenue was slightly lower than the prior quarter but higher than the year-ago period. Gross margin improved sequentially and year-over-year, reflecting the relationship between revenue growth and cost management.
Gross margin takeaway
Quarter ended Jul 31, 2025 · FY2026 Q2
Revenue and gross profit both increased compared to the prior quarter and the same quarter last year, while cost of revenue was slightly lower than the prior quarter but higher than the year-ago period. Gross margin improved sequentially and year-over-year, reflecting the relationship between revenue growth and cost management.
- The strongest observable driver of gross margin was the revenue increase outpacing the change in cost of revenue. Revenue grew while cost of revenue remained relatively flat sequentially, leading to a higher gross margin.
- Compared to the immediately preceding quarter, gross margin improved as revenue rose and cost of revenue decreased slightly. Relative to the same quarter one year earlier, gross margin also improved, with revenue increasing more than the increase in cost of revenue.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
91.0%
Gross profit
$1.6B
Revenue
$1.8B
Cost of revenue
$159.0M
Quarter-over-quarter change
+0.8 pts
Year-over-year change
+0.3 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, 2024 | $1.6B | $1.4B | $147.0M | 90.6% |
| Jan 31, 2025 | $1.6B | $1.5B | $154.0M | 90.6% |
| Apr 30, 2025 | $1.6B | $1.5B | $160.0M | 90.2% |
| Jul 31, 2025 | $1.8B | $1.6B | $159.0M | 91.0% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Apr 30, 2025
+0.8 pts
Year-over-year change
Jul 31, 2024
+0.3 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable driver of gross margin was the revenue increase outpacing the change in cost of revenue. Revenue grew while cost of revenue remained relatively flat sequentially, leading to a higher gross margin.
Compared to the immediately preceding quarter, gross margin improved as revenue rose and cost of revenue decreased slightly. Relative to the same quarter one year earlier, gross margin also improved, with revenue increasing more than the increase in cost of revenue.
Monitor the company's transition to annual billings for multi-year contracts, as noted in the filing, which may affect the timing of revenue recognition and cash collections.