PTC's beat-and-raise quarter with strong cash flow and a new $2B buyback signals confidence in the growth trajectory. Watch for Q3 FY2026 results (expected August 2026) to confirm ARR acceleration from go-to-market transformation.
Price Chart
Executive Summary
PTC reported strong Q2 FY2026 results with revenue of $774M (+22% YoY) and non-GAAP EPS of $2.69, both above the high end of guidance. The company generated $321M in operating cash flow (+14% YoY) and announced a new $2B share repurchase authorization for FY2027-2028, while maintaining FY2026 guidance.
Key Financial Metrics
Key Facts
- Q2 FY2026 revenue $774M exceeded guidance range $685-$745M
- Non-GAAP EPS $2.69 beat guidance top-end $2.47
- Constant currency ARR ex-divested businesses grew 8.5% YoY
- Operating cash flow $321M, up 14% YoY; FCF $318M
- New $2B share repurchase authorization for FY2027-2028
- FY2026 guidance maintained: ARR 7.5%-9.5%, revenue $2.58B-$2.82B, non-GAAP EPS $6.65-$8.90
Financial Impact
Revenue beat guidance by ~$29M (4.0% above midpoint), non-GAAP EPS beat by $0.52 (24% above top end)
Risk Factors
- Macroeconomic slowdown may delay customer purchasing decisions
- Divestiture of Kepware/ThingWorx impacts revenue comparability in future periods
- Execution risk on AI integration and go-to-market transformation
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-208904 |
| Document: ptc-20260506.htm | 0001193125-26-208904 |
| Document: 0001193125-26-208904-index-headers.html | 0001193125-26-208904 |
| Document: 0001193125-26-208904-index.html | 0001193125-26-208904 |
| Document: 0001193125-26-208904.txt | 0001193125-26-208904 |
| 8-K Data (Synthetic) | 0001193125-26-208904 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 11, 2026 21d ago | Court Ruling | $130.78 $135.89 | ▲ +3.91% | ▲ +4.13% | $144.03 (+10.13%) |
Jun 11, 2026 16w ago | Institutional Cluster | $118.39 $116.94 | ▼ −1.22% | ▼ −1.66% | $144.03 (+21.66%) |
May 6, 2026 21w ago | 8-K | $147.01 $140.81 | ▼ −4.22% | ▼ −5.72% | $144.03 (−2.03%) |
Feb 9, 2026 33w ago | Court Ruling | $159.74 $153.07 | ▲ +4.18% | ▲ +2.58% | $144.03 (+9.83%) |
Feb 9, 2026 33w ago | Court Ruling | $159.74 $153.07 | ▲ +4.18% | ▲ +2.58% | $144.03 (+9.83%) |
Jan 29, 2026 35w ago | Court Ruling | $153.48 $153.94 | ▲ +0.30% | ▲ +2.67% | $144.03 (−6.16%) |
US Market Status
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