Q3 FY26 · Ended Jun 30, 2026 · View SEC filing
The business PTC kept grew while revenue fell
Revenue dropped on the sale and one shorter renewal, yet contracts in force for the continuing business kept growing.
For investorsWhat has to hold for revenue to catch up with ARR?
For foundersHow PTC turned product data into a switching cost
Operating expenses did not shrink with the smaller company, so operating income fell three times as fast as revenue.
Customers pay for each contract year up front, so free cash flow rose while operating income fell.
Once product data lives in Windchill and Codebeamer, replacing them means moving years of linked records, and PLM contracts grew fastest.
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Business Lens describes PTC from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
