PTC

PTC reported Q2 fiscal 2026 revenue of $774 million, up 22% YoY (15% in constant currency), with operating income of $296 million (38% margin). Constant-currency ARR excluding divested Kepware and ThingWorx businesses grew 8.5% YoY to $2,388 million. Operating cash flow increased 14% to $321 million; free cash flow also grew 14% to $318 million. GAAP diluted EPS was $4.98, elevated by a $463 million pre-tax gain on the March 2026 divestiture of Kepware and ThingWorx. Non-GAAP operating margin expanded 600 basis points to 53%. For full-year FY26, PTC projects ARR growth of 7.5–9.5% (constant currency), revenue of $2.58–2.82 billion, and free cash flow of approximately $850 million. The company is targeting $1.225–1.325 billion in share repurchases for FY26 and announced a new $2 billion repurchase authorization for FY27–FY28.

AI bull / bear analysis hasn’t been generated for this company yet. Cases refresh quarterly using the latest classified articles and funding history.