Filing Flows › PTC (PTC) › Q2 FY26
PTC (PTC) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed May 7, 2026
PTC (PTC) reported revenue of $774M for the second quarter fiscal 2026 (Q2 FY26), +22% from a year earlier and +13% from the quarter before. Operating margin was 38.2%, net earnings $591M (76.3% of revenue).
PTC, Q2 FY26: revenue $774M (+22% year over year), operating margin 38.2%, net earnings $591M, operating cash flow $321M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $774M | +13% | +22% |
| Gross profit | $661M | +16% | +25% |
| Operating profit | $296M | +34% | +32% |
| Net earnings | $591M | +255% | +263% |
| Operating cash flow | $321M | +19% | +14% |
| Free cash flow | $318M | — | +14% |
What changed
Revenue was $774.3M in Q2 FY26, up 22% year over year and up 13% from the previous quarter. Product Lifecycle Management was the largest line at 64% of revenue. Product Lifecycle Management added $96.0M year over year (up 24%), 70% of the total change.
Gross margin was 85.3%, up 2.0 points from Q2 FY25. Operating profit was $295.8M, a 38.2% margin (up 3.1 points year over year). Of the extra revenue versus Q2 FY25, 52% reached operating profit, above the 35% margin then. Operating expenses grew 19% against revenue growth of 22%. The fastest-growing cost line was General & admin (+61%). Net earnings were $590.7M, up 263% year over year. The effective tax rate was 20.9%. Non-operating items added $451.0M, 60% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $320.9M (up 14% year over year), 54% of net earnings. Non-cash charges added back $24.7M of depreciation and amortization and $68.6M of share-based compensation. Working capital and other items used $363.1M. After capital expenditures ($2.7M), free cash flow as the company reports it was $318.2M.
Questions
What was PTC's revenue in the second quarter fiscal 2026?
PTC (PTC) reported revenue of $774M for the second quarter fiscal 2026 (Q2 FY26), +22% from a year earlier and +13% from the quarter before.
Was PTC profitable in the second quarter fiscal 2026?
Operating profit was $296M (38.2% of revenue) and net earnings $591M.
Source: PTC 10-Q on SEC EDGAR.