Filing Flows › PTC (PTC) › Q1 FY26
PTC (PTC) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Feb 5, 2026
PTC (PTC) reported revenue of $686M for the first quarter fiscal 2026 (Q1 FY26), +21% from a year earlier and -23% from the quarter before. Operating margin was 32.2%, net earnings $167M (24.3% of revenue).
PTC, Q1 FY26: revenue $686M (+21% year over year), operating margin 32.2%, net earnings $167M, operating cash flow $270M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $686M | -23% | +21% |
| Gross profit | $568M | -27% | +25% |
| Operating profit | $221M | -49% | +91% |
| Net earnings | $167M | -52% | +102% |
| Operating cash flow | $270M | +159% | +13% |
| Free cash flow | $267M | — | +13% |
What changed
Revenue was $685.8M in Q1 FY26, up 21% year over year and down 23% from the previous quarter. Product Lifecycle Management was the largest line at 63% of revenue. Product Lifecycle Management added $78.1M year over year (up 22%), 65% of the total change.
Gross margin was 82.8%, up 2.6 points from a year earlier. Operating profit was $221.1M, a 32.2% margin (up 11.8 points year over year). Of the extra revenue versus a year earlier, 87% reached operating profit, above the 20% margin then. Operating expenses grew 3% against revenue growth of 21%. The fastest-growing cost line was General & admin (+39%). Net earnings were $166.5M, up 102% year over year. The effective tax rate was 18.0%.
Operating cash flow was $269.7M (up 13% year over year), 162% of net earnings. Non-cash charges added back $25.3M of depreciation and amortization and $57.9M of share-based compensation. Working capital and other items added $20.1M. After capital expenditures ($2.3M), free cash flow as the company reports it was $267.4M.
Questions
What was PTC's revenue in the first quarter fiscal 2026?
PTC (PTC) reported revenue of $686M for the first quarter fiscal 2026 (Q1 FY26), +21% from a year earlier and -23% from the quarter before.
Was PTC profitable in the first quarter fiscal 2026?
Operating profit was $221M (32.2% of revenue) and net earnings $167M.
Source: PTC 10-Q on SEC EDGAR.