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  "documentTitle": "Autodesk, Inc. (ADSK)",
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  "authorName": "Jeffrey Smith",
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      "text": "Despite the Company’s market-leading position, Autodesk spends significantly more than a wide range of scaled software peers on operating expenses. As illustrated below, Autodesk spends more than 1,000bps more than peers on operating expenses.",
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      "text": "power, Autodesk’s gross margins also benefit from a business mix favoring software over services and an underlying technology stack that enables low cost of delivery.",
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      "text": "Source: Capital IQ, Bloomberg. Market data as of March 17, 2025.",
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