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PTC 8-K Report, Financial Results (Feb 4, 2026)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed February 4, 2026
Period End
February 4, 2026
Security
PTC
In the record · 2016–202610-K1010-Q338-K130

PTC filed 10 annual reports (10-K), 33 quarterly reports (10-Q) and 130 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Jun ’18Jun ’18
  2. Deal closed8-K · Jan ’21Jan ’21
  3. Leadership change8-K · Feb ’23Feb ’23
  4. Leadership change8-K · Mar ’25Mar ’25

01—Abstract

Summary

Summary of the 8-K filed February 4, 2026. Cited figures are marked; the original filing is the authoritative source.

PTC Inc. reported first fiscal quarter 2026 results (quarter ended December 31, 2025) in an 8-K furnished under Item 2.02, with the full press release attached as Exhibit 99.1.

Revenue was $685.8 milliona versus $565.1 million a year earlier, GAAP net income was $166.5 million, and GAAP diluted EPS was $1.39 versus $0.68. Non-GAAP diluted EPS was $1.92 versus $1.10. ARR was reported at $2,494 million, up 13% year over year as reported, and up 8.4% on a constant currency basis (9.0% excluding Kepware and ThingWorx).

Operating cash flow was $269.7 millionb and free cash flow was $267.4 million, each up 13%. The company repurchased $200 million of common stock in the quarter under its $2 billion authorization. It expects to use the approximately $365 million of net after-tax proceeds from the pending Kepware and ThingWorx divestiture for incremental repurchases, and targets total FY'26 repurchases of about $1.115 billion to $1.315 billion.

Management said demand capture improved for a second consecutive quarter, with stronger strategic contracting that it expects to flow into ARR later in the year. Guidance for FY'26 was held in a range of $2,675 million to $2,940 millionc in revenue and $4.42 to $6.93 in GAAP EPS, with the company noting that guidance excludes the divestiture and will be updated at closing. The filing also notes that FY'26 guidance reflects approximately $160 million of divestiture-related expense payments and cash taxes, and that Q1'26 included a $7.1 million non-cash tax benefit from an IRS consent to an accounting method change.

02—Key points

Key Highlights

  1. Revenue of $685.8 million, up from $565.1 million in Q1'25; GAAP operating margin of 32.2% versus 20.4% a year earlier.
  2. GAAP diluted EPS of $1.39 versus $0.68; non-GAAP diluted EPS of $1.92 versus $1.10, including a $0.06 non-cash tax benefit from an IRS consent.
  3. ARR of $2,494 million, up 13% as reported and 8.4% in constant currency (9.0% excluding Kepware and ThingWorx).
  4. Operating cash flow of $269.7 million and free cash flow of $267.4 million, each up 13% year over year.
  5. Repurchased $200 million of stock in Q1'26; targets FY'26 repurchases of approximately $1.115 billion to $1.315 billion, partly funded by about $365 million of expected net after-tax divestiture proceeds.
  6. FY'26 guidance for constant currency ARR growth of 7% to 9% and free cash flow of about $1,000 million; guidance excludes the pending Kepware and ThingWorx divestiture and will be updated at closing.
  7. Approximately $160 million of divestiture-related expense payments and cash taxes expected in FY'26.

03—Questions

Frequently Asked Questions

  1. How did PTC perform in its first fiscal quarter of 2026?

    Revenue rose to $685.8 million from $565.1 million, GAAP net income reached $166.5 million versus $82.2 million, and GAAP diluted EPS was $1.39 versus $0.68. Operating and free cash flow each grew 13%.

  2. What is happening with the Kepware and ThingWorx businesses?

    PTC is divesting Kepware and ThingWorx. The businesses are classified as held for sale, with $145.2 million of assets and $71.4 million of liabilities on the balance sheet at December 31, 2025. The company expects about $365 million of net after-tax proceeds, which it plans to use for share repurchases. Guidance excludes the divestiture until closing.

  3. How much stock is PTC planning to repurchase?

    PTC repurchased $200 million in Q1'26 and intends to repurchase about $250 million in Q2'26. For FY'26 it targets roughly $1.115 billion to $1.315 billion of repurchases under its $2 billion authorization.

  4. What did management say about ARR and demand?

    Management said it contracted strategic customer deals at a stronger pace for a second consecutive quarter and expects improved demand capture to flow into ARR later this year. Q2'26 constant currency ARR growth is guided to 7.5% to 8%.

  5. What are the main risks flagged in the filing?

    The filing cites macroeconomic and manufacturing conditions, including tariffs and interest rates, slower-than-expected adoption of AI-enabled solutions, the timing and completion of the divestiture, foreign exchange volatility, and the ability to return cash to shareholders through repurchases.

04—Continue

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