Autodesk released its Q3 2025 results on November 26, showing an 11% increase in total revenue to $1.57 billion over Q2 2024 results.
Total billings increased 28% to $1.54 billion, and design software revenue was $1.3 billion, an increase of 9%. The company’s generally accepted accounting principle (GAAP) operating margin was 22%, down 2 percentage points, and non-GAAP operating margin was 36%, down 3 percentage points.
Autodesk’s operating margin continues to recover from a first-quarter delay in posting earnings that the company said was caused by the change in a pandemic-era policy that allowed business customers, like the big AEC companies, pay up front and fix prices for the long term. subscriptions to both software and cloud products.
“Autodesk is leading the industry in modernizing its go-to-market movement,” said Andrew Anagnost, president and CEO of Autodesk. “These initiatives allow us to build broader, longer-lasting direct relationships with our customers and serve them more efficiently. We’ve already seen significant benefits from these optimization initiatives, and there’s more to come in the next phase.”
At the company’s Autodesk University annual user conference in San Diego in October, Anagnost said the first-quarter earnings delay and Autodesk’s subsequent demotion of then-CFO Deborah Clifford had fully addressed himself.
“The total billings for the company and the amount of billing that we were talking about was actually less than 2% of the total, so nothing was fundamentally different with our accounting,” Anagnost said when he addressed the media on October 17 “We clarified. where some of the billings were coming from, which was already in our disclosures, in terms of what’s called RPO.”
Anagnost said the late filing drew attention because it disrupted Autodesk’s first-quarter filing, and “we didn’t file because we didn’t finish the research. And we wanted to do the research properly, so we took the time to do it right.”
Autodesk also announced that Janesh Moorjani, former CFO and COO of Elastic NV, will become the company’s new CFO, effective December 16. Moorjani will succeed interim CFO Elizabeth “Betsy” Rafael, who took over in June from Clifford. Rafael will continue to serve as an advisor to the company until the end of fiscal year 2025 and will simultaneously remain on Autodesk’s board of directors.
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