Added10-Q 2026-08-28 vs 10-K 2026-03-03
• Fluctuation of our financial results, key metrics and other operating metrics.
ADSKAutodesk
Note: A glossary of terms used in this Form 10-K appears at the end of this Item 1. 10-K, Item 1
- Employees
- 14,300
- Headquarters
- San Francisco, CA
- CEO
- Andrew Anagnost
- Next results
- around Nov 24, 2026
7 paragraphs in Risk Factors of the 10-K filed Mar 3, 2026 with nothing like them in the 10-K filed Mar 6, 2025. Quoted exactly. Paragraphs that were only edited are under 10-K change.
Compared with the Risk Factors in the latest 10-K of the other 74 Technology companies: a paragraph with at least half its words the same at another company is called similar, and the companies are listed under it. A paragraph most of them have is marked boilerplate. No line means no other company has one like it. This counts text; it does not say how serious a risk is.
regulations by other countries, suggest a broader purview for changes in U.S. trade policy as a component of U.S. foreign policy. For example, since March 2025 the United States has imposed additional Section 232 tariffs on various commodities, including steel, aluminum, passenger vehicles and trucks (and components for such vehicles), and other industry-specific targets. Between February 2025 and February 2026, the United States placed additional fentanyl-related tariffs on most goods from China, Canada and Mexico (with an exception for goods that qualify for duty-free treatment under the U.S.-Mexico-Canada Agreement); and between April 2025 and February 2026 placed additional reciprocal tariffs on most imports from U.S. trading partners other than Canada, Mexico, Russia, Belarus, Cuba, and North Korea. These additional U.S. tariffs were implemented under authorities asserted in the International Emergency Economic Powers Act (“IEEPA”) and rescinded on February 24, 2026, following a Supreme Court decision invalidating the use of IEEPA to authorize these tariffs. The availability, timing, and amount of any related refunds associated with payments of these duties remain uncertain and subject to further legal, regulatory, and administrative action. Beginning February 24, 2026, the U.S. government implemented a new, global “temporary import surcharge” of 10% on many of the same products affected by the prior reciprocal tariffs, under authorities provided for in Section 122 of the Trade Act of 1974, supplementing existing non-IEEPA measures. Additional trade-related investigations by the U.S. government are in progress and could result in the imposition of additional tariffs.
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In addition, we generally recognize subscription revenue over the term of the respective contracts, which typically range from 1-year to 3-years. As a result, most of the revenue we report in each quarter is the result of subscriptions entered into during previous quarters. Consequently, a decline in new or renewed subscriptions in any one quarter may not be reflected in our revenue results for that quarter but will negatively impact our revenue in future quarters. Accordingly, the effect of significant downturns in sales and market acceptance of our services, and changes in our attrition rate, may not be fully reflected in our results of operations until future periods.
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•announcements of new offerings or enhancements by us or our competitors as well as market perception of disruptive technologies such as machine learning and other AI technologies;
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been subject to security breaches and incidents, and we face the risks of them occurring in the future, as well as the risks of delays and other difficulties in identifying, responding to, or remediating security breaches or incidents.
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Our strategy to digitize Autodesk involves increasing our use of cloud- and web-based technologies and applications to leverage customer data to improve our offerings for the benefit of our customers. To accomplish this strategy, we must collect and otherwise process customer data, which may include personal data and personal information of users from different jurisdictions globally. We also collect and otherwise process personal data and personal information of our employees and contractors. As a result, numerous federal, state, and global laws and regulations relating to privacy, data protection, cybersecurity, and the collection, use, security, and other processing of personal data, personal information, and other data and information, apply to our data and information processing activities. The scope of these laws and regulations is rapidly
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Evolving legislation and the interplay of federal and state laws may be subject to varying interpretations by courts and government agencies, creating complex compliance issues. These, as well as conflicting obligations imposed by laws and regulations in various jurisdictions around the world, have caused and may cause variation in requirements, increase restrictions and potential legal risk and impact strategies and the availability of, and our ability to process, previously useful data, potentially exposing us to additional expense, adverse publicity, and liability.
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Our business is highly automated and relies extensively on the availability of our network and data center infrastructure, our internal technology systems, and our websites. We also rely on hosted computer services from third parties for services that
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New in the latest 10-Q
16 paragraphs in the 10-Q filed Aug 28, 2026 with nothing like them in the 10-Q filed May 29, 2026 (at least half the words must differ; new numbers alone do not count). Quoted exactly, grouped by the item heading above them. This is text that changed, not a judgement of how serious it is.
Financial statements and notes
In July 2026, Autodesk established a commercial paper program under which Autodesk may issue short-term, unsecured commercial paper notes in amounts up to a maximum aggregate face amount of $ 2 billion outstanding at any time, with maturities up to 365 days from the date of issuance. Autodesk intends to use the net proceeds of the commercial paper notes for general corporate purposes and to fund the acquisition of businesses. For example, we partially funded the acquisition of MaintainX with borrowings under the commercial paper program. As of July 31, 2026, Autodesk had $ 1 billion of short-term outstanding borrowings under the commercial paper program with a weighted-average interest rate of 4.17 %. The carrying value of the outstanding commercial paper notes approximated fair value at July 31, 2026 due to the relatively short period of time between the origination of the instruments and their expected repayment term. The commercial paper program is backed by our unsecured revolving loan facility and reduces what we can borrow under the unsecured revolving credit facility by the amount of commercial paper outstanding.
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The outstanding borrowings under our Senior Notes as of July 31, 2026, were as follows:
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Pre-tax gain reclassified from accumulated other comprehensive loss 21 1 (1) — 21
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On August 3, 2026, Autodesk acquired MaintainX, Inc. (“MaintainX”), a leading modern maintenance and asset operations solution, for preliminary purchase consideration of approximately $3.53 billion, net of cash acquired. MaintainX's modern, mobile-first solution helps organizations manage and optimize day-to-day-operations and is expected to help customers better connect data and workflows across the lifecycle, linking digital intent with real-world performance in a continuous closed-loop system. The Company is currently in the process of determining the initial purchase accounting for this transaction. Based on the timing of the acquisition and lack of available information, the Company has determined it to be impracticable to disclose a preliminary purchase price allocation at this time. Autodesk financed the transaction through a combination of cash on hand, borrowings under a 364-day term loan facility, and borrowings under a short-term unsecured commercial paper program. For additional information on the financing associated with this transaction, refer to Note 11, “Borrowing Arrangements.”
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Our acquisition of MaintainX, Inc. (“MaintainX”) expands our relationship with manufacturing, and architecture, engineering, and construction customers into asset operations and maintenance management. We expect MaintainX to further extend our operations capabilities by providing a cloud-based platform for maintenance management, asset tracking, inspections, work orders, and frontline operational workflows. Its solutions help customers improve asset reliability, reduce downtime, and optimize operational performance through the collection and analysis of real-time maintenance and asset data. By connecting operational workflows and asset performance information with our existing design, construction, and operations solutions, we believe MaintainX will help support our strategy of delivering a more comprehensive lifecycle platform for the built environment.
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prior fiscal year (In millions, except percentages) $ % Management Comments Net Revenue by Product Type: Design $ 3,320 $ 487 17% $ 2,833 Increase primarily due to growth in AEC collections, EBA offerings, AutoCAD, AutoCAD LT, and MFG collections. Make 468 95 25% 373 Increase primarily due to growth in revenue from Autodesk Forma and Fusion. Other 192 2 1% 190 Total Net Revenue $ 3,980 $ 584 17% $ 3,396
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Legal proceedings
For information regarding certain current legal proceedings, refer to “Legal Proceedings” in Note 14, “Commitments and Contingencies,” to the Condensed Consolidated Financial Statements included in this Quarterly Report on Form 10-Q, which is incorporated herein by reference. In addition to the legal proceedings referenced in Note 14, we are involved in the following additional legal proceedings.
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Risk Factors
Our executive management team must continuously act quickly and with vision, given the rapidly changing customer expectations and technology advancements inherent in the software industry, the extensive and complex efforts required to
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• the inability to integrate completed acquisitions or combinations in an efficient and timely manner;
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U.S. trading partners, with certain items excepted, under authorities provided under Section 301 of the Trade Act of 1974, following a determination by the U.S. Trade Representative that these trading partners have insufficiently implemented or enforced forced labor laws. The United States also recently announced an intent to impose 50% tariffs on certain products of Canada effective August 19, 2026 under authorities provided in Section 338 of the Tariff Act of 1930. Additional trade-related investigations by the U.S. government are in progress and could result in the imposition of additional tariffs, including under Sections 232, 301, 122, and 338.
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that inadvertent or unauthorized use or disclosure of such information will not occur or that third parties will not gain unauthorized access to such information.
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We rely on third parties, such as Amazon Web Services, to provide us with operational and technical services. These third parties may have access to our systems, provide hosting services, or otherwise process data about us or our customers,
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We sell our software products both directly to end users and through a network of distributors and resellers. Our distributor, TD Synnex accounted for 8% and 18% of our total net revenue for the six months ended July 31, 2026 and 2025, respectively. Our revenue by direct sales channel may fluctuate as a percentage of total net revenue. We expect our indirect
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We rely on a combination of patent, copyright, and trademark laws, trade secret protections, confidentiality procedures, and contractual provisions to protect our proprietary rights. However, the steps we take to protect our intellectual property
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management time, diversion of operational resources, or otherwise harm our business. In any such event, our financial results, results of operations, cash flows, or trading prices for our securities could be negatively impacted.
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Item 6
Certain exhibits and schedules have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The registrant hereby undertakes to furnish supplemental copies of any of the omitted exhibits and schedules upon request by the U.S. Securities and Exchange Commission.
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The 10-Q's risk factors against the 10-K
Item 1A of the 10-Q filed Aug 28, 2026 against Item 1A of the 10-K filed Mar 3, 2026.
A 10-Q repeats only the risks that changed, so a 10-K paragraph that is missing from it is not counted as removed.
Added is a paragraph with nothing like it in the 10-K, Reworded a sentence that is in both with several words changed,
Quiet changes a sentence in both where one to four words changed and one is a hedge or a modal
(cut words struck through, new words highlighted and underlined).
Text on the page, not a score; each links to the filing at sec.gov.
Added10-Q 2026-08-28 vs 10-K 2026-03-03
Our executive management team must continuously act quickly and with vision, given the rapidly changing customer expectations and technology advancements inherent in the software industry, the extensive and complex efforts required to
Added10-Q 2026-08-28 vs 10-K 2026-03-03
• the inability to integrate completed acquisitions or combinations in an efficient and timely manner;
Added10-Q 2026-08-28 vs 10-K 2026-03-03
U.S. trading partners, with certain items excepted, under authorities provided under Section 301 of the Trade Act of 1974, following a determination by the U.S. Trade Representative that these trading partners have insufficiently implemented or enforced forced labor laws. The United States also recently announced an intent to impose 50% tariffs on certain products of Canada effective August 19, 2026 under authorities provided in Section 338 of the Tariff Act of 1930. Additional trade-related investigations by the U.S. government are in progress and could result in the imposition of additional tariffs, including under Sections 232, 301, 122, and 338.
Added10-Q 2026-08-28 vs 10-K 2026-03-03
• renegotiation or termination of royalty or intellectual property arrangements;
Added10-Q 2026-08-28 vs 10-K 2026-03-03
Autodesk and certain of its current and former executives and directors have been named as defendants in ongoing shareholder lawsuits, which may result in additional expense and/or litigation.
Added10-Q 2026-08-28 vs 10-K 2026-03-03
that inadvertent or unauthorized use or disclosure of such information will not occur or that third parties will not gain unauthorized access to such information.
Added10-Q 2026-08-28 vs 10-K 2026-03-03
We rely on third parties, such as Amazon Web Services, to provide us with operational and technical services. These third parties may have access to our systems, provide hosting services, or otherwise process data about us or our customers,
Added10-Q 2026-08-28 vs 10-K 2026-03-03
We sell our software products both directly to end users and through a network of distributors and resellers. Our distributor, TD Synnex accounted for 8% and 18% of our total net revenue for the six months ended July 31, 2026 and 2025, respectively. Our revenue by direct sales channel may fluctuate as a percentage of total net revenue. We expect our indirect
Added10-Q 2026-08-28 vs 10-K 2026-03-03
We rely on a combination of patent, copyright, and trademark laws, trade secret protections, confidentiality procedures, and contractual provisions to protect our proprietary rights. However, the steps we take to protect our intellectual property
Added10-Q 2026-08-28 vs 10-K 2026-03-03
management time, diversion of operational resources, or otherwise harm our business. In any such event, our financial results, results of operations, cash flows, or trading prices for our securities could be negatively impacted.
Reworded10-Q 2026-08-28 vs 10-K 2026-03-03
If we breach any of the covenants and do not obtain a waiver from the lenders, then, subject to applicable cure periods, we would not be able to incur additional indebtedness under the 2025 Credit Agreement, Agreement described in Part I, Item 1, “Financial Statements,” Note 11, “Borrowing Arrangements,” and the lenders under the 2025 Credit Agreement or the lenders under the Term Loan Agreement, as applicable, could declare any outstanding indebtedness under the 2025 Credit Agreement or the Term Loan Agreement, respectively, immediately due and payable, which declaration could also lead to a default under agreements governing our outstanding senior notes and any future indebtedness. indebtedness and could significantly impair our ability to
Reworded10-Q 2026-08-28 vs 10-K 2026-03-03
In May 2025, and as amended on June 15, 2026, we also entered into the 2025 Credit Agreement, which provides for an unsecured revolving loan facility in the an aggregate principal amount of $1.5 billion, with an option to be increased up to $2 billion, subject to receipt of additional commitments and other customary conditions, as described in Part II, I, Item 8. 1, “Financial Statements,” Note 11, “Borrowing Arrangements”.
Reworded10-Q 2026-08-28 vs 10-K 2026-03-03
This could include U.S. and foreign tax law developments related to changes to long-standing tax principles arising from proposals made by the Organization for Economic Co-operation and Development (the “OECD”) that seek to allocate greater taxing rights to countries where customers are located and establish a global minimum tax rate of 15% (“Pillar Two”).
Reworded10-Q 2026-08-28 vs 10-K 2026-03-03
During fiscal the six months ended July 31, 2026 and 2025, combined revenue from our standalone AutoCAD and AutoCAD LT family products, not including collections having AutoCAD or AutoCAD LT as a component, products represented 24% and 25% and 26% of our total net revenue, respectively.
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Despite our significant efforts to create security barriers to such threats, we cannot entirely mitigate these risks, and there is no guarantee that inadvertent or unauthorized use or disclosure of such information will not occur or that third parties will not gain unauthorized access to such information.
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For example, since March 2025 the United States has imposed additional Section 232 tariffs on various commodities, commodities under authorities provided in Section 232 of the Trade Expansion Act of 1962, including but not limited to steel, aluminum, passenger vehicles and trucks (and components for such vehicles), and other industry-specific targets.
Reworded10-Q 2026-08-28 vs 10-K 2026-03-03
Reworded10-Q 2026-08-28 vs 10-K 2026-03-03
For example, the European Union’s Artificial Intelligence Act (the “AI Act”), which achieved approval by the European Council on February 2, 2024, and the European Parliament on March 13, 2024, imposes obligations on providers and users of AI technologies.
Reworded10-Q 2026-08-28 vs 10-K 2026-03-03
The first 23 of 31 are shown (at most 12 of each type).
Work on ADSK in a spreadsheet:
Excel workbook (a sheet per section, ten years by column, charts, links to the filings) ·
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