Key Takeaways AutoDesk entered Q2 with 15% Q1 revenue growth and continued resilience across business operations.Construction Cloud, AutoCAD and manufacturing workflows are expected to support segment performance.Americas and EMEA show strong momentum, while Asia-Pacific may lag amid transition and trade pressures.AutoDesk (ADSK) is scheduled to release second-quarter 2025 results on Aug. 28.The Zacks Consensus Estimate for ADSK’s second-quarter revenues is pegged at $1.73 billion, indicating 14.65% year-ov ...

Core Insights - Adobe's focus on integrating AI into its products is enhancing growth prospects, leading to an increase in full-year earnings guidance to $20.50-$20.70 per share, reflecting nearly 12% year-over-year growth [1][8] Financial Performance - Adobe reported a strong second-quarter fiscal 2025, with a 12% year-over-year increase in Annual Recurring Revenue (ARR) driven by the adoption of AI tools like Firefly and Acrobat AI Assistant [2][8] - The company generated $2.19 billion in operating cash flow and has $19.69 billion in remaining performance obligations, with 67% expected to be recognized within a year, supporting ongoing investments in innovation [3][8] Competitive Landscape - Autodesk is positioned well in the 3D design tools market with strong subscription growth, but its premium pricing limits mass-market appeal compared to Adobe's broader creative suite [4] - Microsoft holds a competitive edge with its cloud infrastructure and AI-powered productivity tools, offering deeper enterprise integration, which positions it as a comprehensive platform for digital transformation [5] Stock Performance and Valuation - Adobe shares have declined 18.2% year to date, contrasting with a 7.5% return in the broader Zacks Computer and Technology sector and a 16.8% rise in the Computer-Software industry [6] - The current forward 12-month Price/Sales ratio for Adobe is 6.19X, slightly below the sector average of 6.6X, with a Value Score of C [9] Earnings Estimates - The Zacks Consensus Estimate for Adobe's earnings is $20.63 per share for fiscal 2025, indicating a year-over-year growth of 12%, with a recent upward revision of 1.3% over the past 30 days [12]

Financial Performance - Q1 FY26 - Billings reached $1434 million, a 29% year-over-year increase[5] - Revenue totaled $1633 million, up 15% compared to the previous year[5] - Non-GAAP operating margin was 37%, a 3 percentage point increase year-over-year[5] - Free cash flow amounted to $556 million, a 14% increase from the prior year[5] Revenue Breakdown - Q1 FY26 - Design revenue was $1361 million, showing a 14% year-over-year increase[9] - Make revenue reached $179 million, a 23% increase compared to the previous year[9] - Americas revenue was $725 million, up 17% year-over-year[9] - EMEA revenue totaled $627 million, a 17% increase from the prior year[9] Outlook - FY26 - The company projects billings between $7160 million and $7310 million[11] - Revenue is expected to be in the range of $6925 million to $6995 million[11] - Non-GAAP operating margin is forecasted to be between 365% and 37%[11]

Core Insights - Autodesk has launched a significant brand transformation with the "Let There Be Anything" campaign, celebrating human ingenuity and the technology that supports design and creation [1][6] - The campaign marks Autodesk's evolution into a platform company serving professionals across various Design and Make industries, moving beyond its traditional identity as the maker of AutoCAD [2][8] Campaign Details - The campaign features a U.S.-only 60-second advertisement starring Emmy-winner Tony Hale, which will air during the NBA Playoffs, showcasing the creativity of Autodesk customers [3][4] - The ad employs humor and metaphor to engage audiences, bridging the brand and product in a fresh and entertaining manner [5] Customer Impact - The campaign will include a global storytelling series highlighting real Autodesk customers making significant impacts in their fields, such as architecture and adaptive design [7][9] - Notable examples include Noella Nibakuze, who optimized performance for a regenerative agriculture university, and Noel Joyce, who designed an adaptive mountain bike for wheelchair users [9] Industry Context - Over 300 million professionals work in the Design and Make industries, which are projected to reach a global value of $30 trillion by 2027 [8] - Autodesk aims to unify its brand across these industries, showcasing its comprehensive portfolio and the transformative impact of its technology [8][10]

险高等特点，投资者面临较大的市场风险。投资者应充分了解科创板的投资风险及本公司所披露 的风险因素，审慎作出投资决定。 苏州浩辰软件股份有限公司 Gstarsoft Co., Ltd. （苏州工业园区东平街 286 号） 首次公开发行股票并在科创板上市 招股意向书 保荐人（主承销商） （北京市朝阳区安立路 66 号 4 号楼） 本次发行股票拟在科创板上市，科创板公司具有研发投入大、经营风险高、业绩不稳定、退市风 苏州浩辰软件股份有限公司 招股意向书 中国证监会、交易所对本次发行所作的任何决定或意见，均不表明其对发行人 注册申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其对发 行人的盈利能力、投资价值或者对投资者的收益作出实质性判断或保证。任何与之 相反的声明均属虚假不实陈述。 根据《证券法》的规定，股票依法发行后，发行人经营与收益的变化，由发行 人自行负责；投资者自主判断发行人的投资价值，自主作出投资决策，自行承担股 票依法发行后因发行人经营与收益变化或者股票价格变动引致的投资风险。 1-1-1 发行股票类型 人民币普通股（A 股） 发行股数 拟公开发行股份 1,121.82 万股，公司股东不公 ...

本次发行股票拟在科创板上市，科创板公司具有研发投入大、经营风险高、业绩不稳定、退市风 险高等特点，投资者面临较大的市场风险。投资者应充分了解科创板的投资风险及本公司所披露 的风险因素，审慎作出投资决定。 苏州浩辰软件股份有限公司 Gstarsoft Co., Ltd. （苏州工业园区东平街 286 号） 首次公开发行股票并在科创板上市 招股说明书 （注册稿） 本公司的发行上市申请尚需经上海证券交易所和中国证监会履行相应程序。本招股说明书不具有 据以发行股票的法律效力，仅供预先披露之用。投资者应当以正式公告的招股说明书全文作为作 出投资决定的依据。 保荐人（主承销商） （北京市朝阳区安立路 66 号 4 号楼） 苏州浩辰软件股份有限公司 招股说明书 中国证监会、交易所对本次发行所作的任何决定或意见，均不表明其对发行人 注册申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其对发 行人的盈利能力、投资价值或者对投资者的收益作出实质性判断或保证。任何与之 相反的声明均属虚假不实陈述。 根据《证券法》的规定，股票依法发行后，发行人经营与收益的变化，由发行 人自行负责；投资者自主判断发行人的投资价值，自主作 ...