PTC (PTC) Morgan Stanley Technology, Media & Telecom Conference 2026 summary

Business overview and strategic focus

• Provides software for product design, manufacturing, and service across five key verticals: industrial, aerospace/defense, electronics, medical technology, and automotive.

• Emphasizes the importance of a strong product data foundation using core solutions in CAD, PLM, ALM, and SLM.

• Focuses on building an intelligent product lifecycle, integrating AI to enhance competitiveness and innovation.

• Recent portfolio rationalization included divesting ThingWorx and Kepware to sharpen focus on core product data and engineering innovation.

• Maintains a disciplined approach to M&A, prioritizing tuck-in acquisitions that align with strategic goals and organizational culture.

AI integration and product innovation

• AI is embedded across mission-critical systems, enabling deterministic outcomes in engineering workflows.

• Unique expertise in training AI agents on complex CAD data models, providing a competitive edge.

• Customers are increasingly adopting AI-enabled workflows, with strong momentum in PLM and ALM solutions.

• Internal use of AI accelerates R&D, improves code quality, and enhances customer support and operational efficiency.

• AI strategy supports both on-premise and SaaS offerings, ensuring flexibility for diverse customer needs.

Go-to-market transformation and customer momentum

• Organizational restructuring and new leadership have clarified messaging and improved customer engagement.

• Demand capture has increased, with customers showing willingness to invest in strategic solutions.

• Deferred ARR is rising due to larger, more strategic deals and improved implementation processes.

• Competitive displacements are accelerating in PLM, ALM, and CAD, driven by openness and customer-first approach.

• Onshape and Codebeamer are experiencing rapid growth, especially in automotive and robotics sectors.