Filing Flows › Dynatrace (DT) › Q2 FY26
Dynatrace (DT) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Nov 5, 2025
Dynatrace (DT) reported revenue of $494M for the second quarter fiscal 2026 (Q2 FY26), +18% from a year earlier and +3% from the quarter before. Operating margin was 14.8%, net earnings $57.2M (11.6% of revenue).
Dynatrace, Q2 FY26: revenue $494M (+18% year over year), operating margin 14.8%, net earnings $57.2M, operating cash flow $32.0M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $494M | +3% | +18% |
| Gross profit | $404M | +3% | +19% |
| Operating profit | $73.0M | +17% | +55% |
| Net earnings | $57.2M | +19% | +30% |
| Operating cash flow | $32.0M | -88% | +35% |
| Free cash flow | $27.8M | — | +38% |
What changed
Revenue was $493.8M in Q2 FY26, up 18% year over year and up 3% from the previous quarter. Subscription was the largest line at 96% of revenue. Subscription added $73.3M year over year (up 18%), 97% of the total change.
Gross margin was 81.8%, up 0.4 points from a year earlier. Operating profit was $73.0M, a 14.8% margin (up 3.5 points year over year). Of the extra revenue versus a year earlier, 34% reached operating profit, above the 11% margin then. Operating expenses grew 13% against revenue growth of 18%. The fastest-growing cost line was Research & development (+21%). Net earnings were $57.2M, up 30% year over year. The effective tax rate was 34.3%.
Operating cash flow was $32.0M (up 35% year over year), 56% of net earnings. Non-cash charges added back $5.7M of depreciation and amortization and $76.8M of share-based compensation. Working capital and other items used $107.8M. After purchase of property and equipment ($4.2M), free cash flow as the company reports it was $27.8M.
Questions
What was Dynatrace's revenue in the second quarter fiscal 2026?
Dynatrace (DT) reported revenue of $494M for the second quarter fiscal 2026 (Q2 FY26), +18% from a year earlier and +3% from the quarter before.
Was Dynatrace profitable in the second quarter fiscal 2026?
Operating profit was $73.0M (14.8% of revenue) and net earnings $57.2M.
Source: Dynatrace 10-Q on SEC EDGAR.