PTC

Q3 FY2026 EarningsQ3 FY26 results were mixed relative to consensus: revenue of $600.0M missed the $612.8M estimate by 2.1%, largely due to the divestiture of Kepware and ThingWorx and a shorter-duration contract renewal. Normalized EPS of $1.58 slightly beat the $1.56 consensus, supported by operational discipline and a lower effective tax rate of 22.0% vs. 22.8% expected. Free Cash Flow of $249.3M was in-line with the upper end of expectations despite increased CapEx for R&D facilities.