PTC completes Kepware/ThingWorx sale to TPG for $523M, updates guidance, announces $375M ASR

PTC INC.

Closed divestiture of Kepware and ThingWorx to TPG; received $523M cash, net after-tax proceeds ~$375M.
FY'26 updated guidance: operating cash flow ~$880M, free cash flow ~$850M, revenue $2.54B–$2.805B.
Plans $375M accelerated share repurchase in Q2'26; total FY'26 buyback expected $1.125B–$1.325B.
Q2'26 GAAP EPS guidance $4.09–$4.74, Non-GAAP EPS $1.87–$2.47; revenue $685M–$745M.
Constant currency ARR growth (ex-Kepware/ThingWorx) unchanged at 7.5%–9.5%.

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