Filing Flows › PTC (PTC) › Q3 FY26 › vs Q3 FY25
PTC (PTC) Q3 FY26 vs Q3 FY25 (year over year)
PTC's revenue fell $43.9M (-7%) from $644M in Q3 FY25 to $600M in Q3 FY26. The biggest changes: Product Lifecycle Management −$46.8M (-12%); Perpetual License −$7.1M (-91%); Computer Aided Design +$2.9M (+1%). Gross margin 81.7% against 82.9% (-1.2 pts).
PTC, Q3 FY26: revenue $600M (-7% year over year), operating margin 27.7%, net earnings $119M, operating cash flow $261M. The chart draws each line against Q3 FY25, the increases inside each band.
Margins
| Q3 FY26 | Q3 FY25 | Change | |
|---|---|---|---|
| Gross margin | 81.7% | 82.9% | -1.2 pts |
| Operating margin | 27.7% | 32.6% | -4.8 pts |
| Net margin | 19.8% | 21.9% | -2.2 pts |
| Free cash flow margin | 41.6% | 37.6% | +4.0 pts |
Every line
| Line | Q3 FY26 | Q3 FY25 | Change | % |
|---|---|---|---|---|
| Product Lifecycle Management | $357M | $404M | −$46.8M | -12% |
| Computer Aided Design | $243M | $240M | $2.9M | +1% |
| Perpetual License | $691K | $7.8M | −$7.1M | -91% |
| Revenue | $600M | $644M | −$43.9M | -7% |
| Gross profit | $490M | $534M | −$43.4M | -8% |
| Cost of revenue | $110M | $110M | −$441K | -0.4% |
| Operating profit | $167M | $210M | −$43.3M | -21% |
| Operating expenses | $324M | $324M | −$125K | 0% |
| Pre-tax earnings | $152M | $194M | −$41.2M | -21% |
| Other expense, net | $14.1M | $16.2M | −$2.1M | -13% |
| Research & development | $116M | $117M | −$939K | -0.8% |
| Sales & marketing | $136M | $142M | −$5.5M | -4% |
| General & admin | $60.0M | $54.1M | $5.8M | +11% |
| Other operating costs | $12.0M | $11.5M | $455K | +4% |
| Net earnings | $119M | $141M | −$22.5M | -16% |
| Income tax | $33.7M | $52.3M | −$18.7M | -36% |
| Depreciation & amortization | $24.2M | $25.5M | −$1.4M | -5% |
| Share-based compensation | $59.4M | $54.0M | $5.3M | +10% |
| Working capital & other | $58.3M | $23.0M | $35.2M | +153% |
| Operating cash flow | $261M | $244M | $16.7M | +7% |
| Free cash flow (company-reported) | $249M | $242M | $7.3M | +3% |
| Capital expenditures | $11.3M | $1.9M | $9.4M | +498% |
Questions
How much did PTC's revenue grow year over year in Q3 FY26?
PTC's revenue fell $43.9M (-7%) from $644M in Q3 FY25 to $600M in Q3 FY26.
What drove PTC's revenue change in Q3 FY26?
Product Lifecycle Management −$46.8M (-12%); Perpetual License −$7.1M (-91%); Computer Aided Design +$2.9M (+1%).