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Sentiment · FY2026 Q2
What companies say about each other on earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“leading partners like Autodesk, PTC, and Siemens have all built their own industrial AI solutions on our stack.”
PTC has built its own industrial AI solutions on Microsoft's Azure/AI stack, signaling deepening AI investment by PTC on top of a hyperscaler partnership.
“we've seen some PTC, I think, just talking about slowing down over the next couple of quarters”
An analyst cites PTC's reported slowdown as a comparison point while questioning why Rockwell's Lifecycle Services growth also decelerated, implying softening industrial-software/automation demand more broadly.
“Lamborghini was a marquee customer at our booth. They're deploying ServiceMax now that's tied back into their Windchill”
PTC cites Lamborghini as a marquee customer deploying ServiceMax integrated with Windchill for parts and service, indicating Lamborghini's investment in connected product/service technology.
“An example of our momentum is the expansion deal we struck with Garrett Motion, a leading automotive supplier.”
PTC highlights an expansion win at automotive supplier Garrett Motion, which is modernizing product development on PTC's Windchill and CodeBeamer platforms, a positive read-through on Garrett's cloud/AI modernization spend.
“the definitive agreement we've reached for TPG to acquire our Kepware and ThingWorx businesses.”
TPG is acquiring PTC's Kepware and ThingWorx IoT businesses (~$160M ARR), expanding TPG's factory-floor/operations software footprint via the carve-out.
“So it is, number one, differentiating Windchill from the other PLM competitors that we have because ServiceMax is unique versus what Siemens has and Dassault, as you all know.”
PTC positions ServiceMax as a differentiator versus PLM competitor Dassault Systemes.
“So it is, number one, differentiating Windchill from the other PLM competitors that we have because ServiceMax is unique versus what Siemens has and Dassault, as you all know.”
PTC positions its ServiceMax field-service capability as a differentiator versus PLM competitors Siemens and Dassault, neither of which has an equivalent offering.
“we're predisposed to making this a stronger partnership versus going the other way. So good news there on Synopsys, Ansys getting together for our customers and for PTC.”
Following its acquisition of Ansys, Synopsys is now a partner to PTC through the inherited Ansys OEM relationship; PTC management expects to deepen ties with the combined organization.
“we're predisposed to making this a stronger partnership versus going the other way. So good news there on Synopsys, Ansys getting together for our customers and for PTC.”
PTC's longstanding OEM partnership with Ansys is expected to survive and strengthen following Synopsys's acquisition of Ansys.
“In fact, I'll give you the anecdote of the announcement that we made with NVIDIA, who also is a great customer of ours of Creo and Windchill, that conversation is elevated to the Jensen level, which would have never happened at PTC for the last number of years”
PTC's NVIDIA relationship has elevated to CEO-level engagement (Jensen Huang), illustrating PTC's broader go-to-market push toward C-suite conversations with strategic customers.
“More broadly, our relation with NVIDIA highlighted in this morning's press release, reflects what's possible when product data intelligence meets cutting-edge innovation.”
PTC and NVIDIA announced a deepening relationship around physical AI, building on NVIDIA's long-standing use of PTC's Creo and Windchill software.
“Schaeffler, one of the largest industrial parts manufacturers that actually is very centered around the automotive market, they just did a massive strategic partnership deal, multiyear deal that's going to transform them to our SaaS framework.”
Schaeffler, a major auto-parts manufacturer, signed a large multiyear strategic partnership with PTC to move to its SaaS framework, cited as evidence that digital-transformation demand persists despite macro uncertainty.
“Dassault is going to be raising prices 2% to 5% in July.”
An analyst notes CAD competitor Dassault Systèmes is raising prices 2-5% in July, asking whether that gives PTC pricing cover of its own.
“In April, we bought a great company called IncQuery Labs that brings development and deep technical talent to accelerate our product road map in ALM, PLM and critical integrations between the 2.”
PTC acquired IncQuery Labs in April 2025 to accelerate its ALM/PLM product roadmap and integration capabilities.
PTC delivered constant currency ARR growth of 9% excluding Kepware with Q1 FCF of $267 million, up 13% year-over-year, as strong demand capture generated record deferred ARR. The go-to-market transformation showed tangible results under the new CFO, and AI was embedded across the portfolio with accelerating releases. Management reiterated FY2026 ARR guidance at 7.5-9.5% excluding Kepware and FCF at approximately $1 billion, while raising the share buyback plan to $1.1-$1.3 billion.
Demand | Competitive Dynamics | Guidance Reliability | Product Launch | Revenue Growth | Macroeconomic | Cloud & AI | Margin | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 4 | 4 | 1 | 2 | 3 | |||
| 2025Q1 | 3 | 3 | 1 | 2 | 2 | 1 | 3 | |
| 2025Q2 | 5 | 3 | 4 | 1 | 3 | 1 | 1 | |
| 2025Q3 | 4 | 5 | 2 | 3 | 4 | 2 | 1 | 2 |
| 2025Q4 | 2 | 3 | 2 | 1 | 1 | 1 | ||
| 2026Q1 | 8 | 3 | 7 | 3 | 4 | 1 | 1 | |
| 2026Q2 | 7 | 6 | 3 | 5 | 4 | 1 | 5 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | '26Q2 | |
|---|---|---|---|---|---|---|---|
| Demand | 4 | 3 | 5 | 4 | 2 | 8 | 7 |
| Competitive Dynamics | 4 | 3 | 3 | 5 | 3 | 3 | 6 |
| Guidance Reliability | 1 | 1 | 4 | 2 | 2 | 7 | 3 |
| Product Launch | 2 | 2 | 3 | 1 | 3 | 5 | |
| Revenue Growth | 2 | 1 | 4 | 1 | 4 | 4 | |
| Macroeconomic | 3 | 1 | 3 | 2 | 1 | 1 | |
| Cloud & AI | 3 | 1 | 1 | 1 | 5 | ||
| Margin | 1 | 2 | 1 |
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Ken Wong | Oppenheimer | 7 (0%) |
| Nay Naing | Berenberg | 7 (0%) |
| Jay Vleeschhouwer | Griffin Securities |
| Joshua Tilton | Wolfe Research | 6 (17%) |
| Jason Celino | KeyBanc Capital Markets | 6 (17%) |
| Blair Abernethy | Rosenblatt Securities | 5 (20%) |
| Siti Panigrahi | Mizuho Securities | 5 (0%) |
| Tyler Radke | Citigroup | 5 (0%) |
| Saket Kalia | Barclays | 5 (0%) |
| Adam Borg | Stifel | 5 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Griffin Securities | 1 | 7 (0%) |
| Berenberg | 1 | 7 (0%) |
| Oppenheimer | 1 | 7 (0%) |
| Wolfe Research | 2 | 7 (14%) |
| KeyBanc Capital Markets | 1 | 6 (17%) |
| Mizuho Securities | 1 | 5 (0%) |
| Citigroup | 1 | 5 (0%) |
| Barclays | 1 | 5 (0%) |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
PTC PTC Inc. | 9 | +21.7% | |
| ADSK Autodesk | 10 | +18.4% | |
| APP Applovin Corp | 9 | +24.1% | |
| CDNS Cadence Design Systems | 9 | +18.7% | |
| CRM Salesforce, Inc. | 9 | +13.3% | |
| DDOG Datadog | 10 | +32.1% | |
| FICO Fair Isaac | 9 | +38.7% | |
| INTU Intuit | 9 | +10.4% | |
| MSTR MicroStrategy Inc. | 7 | +11.9% | |
| NOW ServiceNow | 7 | +22.1% | |
| SHOP Shopify | 8 | +34.3% | |
| TEAM Atlassian | 7 | +31.7% | |
| TTD The Trade Desk, Inc. | 8 | +11.8% | |
| TYL Tyler Technologies | 8 | +8.6% | |
| UBER Uber | 8 | +14.5% | |
| WDAY Workday, Inc. | 9 | +13.5% |