PTC Inc. earnings overview

PTC FY2026 Q2 · Calendar Q2 2026

PTC Inc.

PTC's Q2 results underscore a company mid-way through a product and go-to-market transformation that is bearing fruit. The 28% EPS surprise and 9% revenue beat were driven by AI-enabled product data modernization winning competitive displacement deals across Windchill+, Creo, Onshape, and Codebeamer. Management raised revenue and EPS guidance for the second consecutive quarter while keeping ARR targets unchanged, signaling confidence in near-term monetization but leaving open questions about when ARR growth reaccelerates to double digits. The expanded $2 billion buyback through FY2028 and $250 million repurchased in Q2 show shareholder-return discipline. The 7.2% subsequent price drift lower from the initial positive reaction suggests some investors question whether the deferred ARR buildup and unchanged ARR guidance can convert into durable growth soon enough.