PTC reported first fiscal quarter 2026 results with constant currency annual recurring revenue growth of 8.4%, or 9% excluding its Kepware and ThingWorx units. Operating and free cash flow increased 13% year-over-year to $270 million and $267 million respectively. The Boston-based software company, which provides product lifecycle management solutions, is focusing on its "Intelligent Product Lifecycle" vision by embedding AI across its portfolio. CEO Neil Barua said the company is building a "more durable, multi-year growth engine" through go-to-market transformation. PTC executed $200 million in share repurchases during the quarter under its $2 billion authorisation and expects total repurchases of approximately $1.115 billion to $1.315 billion in fiscal 2026. The company maintained its full-year guidance of 7% to 9% constant currency ARR growth.

PTC has launched Windchill AI Parts Rationalization, a new artificial intelligence capability for its Windchill product lifecycle management platform. The tool addresses duplicate parts, slow searches and inconsistent part data by detecting similar parts, identifying redundancies and driving consolidation through change workflows. Deployed as a plugin, the capability aims to reduce inventory and carrying costs whilst speeding engineering work and improving data quality. PTC plans future enhancements including smart-assisted classification, part reuse in design environments and tools for monitoring duplicates. The Boston-based software company, which employs over 7,000 people and supports more than 30,000 customers globally, positions the release as part of its broader Intelligent Product Lifecycle vision to help manufacturers digitally transform product design, manufacturing and service operations.

Autodesk has decided not to proceed with acquiring PTC, ending discussions in mid-July for a deal estimated at $30 billion. This would have been one of the largest tech mergers in 2025. Autodesk's stock dropped over 10% following the rumors, reflecting investor caution due to potential regulatory, financial, and integration challenges. Autodesk now focuses on organic innovation, cloud, and AI, while continuing share buybacks and targeted acquisitions.