# EDGAR Filing Document

**Accession Number:** 0001773383
**File Stem:** 0001628280-25-049224
**Filing Date:** 2025-11
**Character Count:** 45405
**Document Hash:** e5e76196dda4a0996ae51242e125289f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001628280-25-049224.hdr.sgml**: 20251105

**ACCESSION NUMBER**: 0001628280-25-049224

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 17

**CONFORMED PERIOD OF REPORT**: 20251105

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251105

**DATE AS OF CHANGE**: 20251105

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Dynatrace, Inc.
- **CENTRAL INDEX KEY:** 0001773383
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-PREPACKAGED SOFTWARE [7372]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 472386428
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39010
- **FILM NUMBER:** 251451667

**BUSINESS ADDRESS:**
- **STREET 1:** 280 CONGRESS STREET
- **STREET 2:** 11TH FLOOR
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210
- **BUSINESS PHONE:** 781-530-1000

**MAIL ADDRESS:**
- **STREET 1:** 280 CONGRESS STREET
- **STREET 2:** 11TH FLOOR
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Dynatrace Holdings LLC
- **DATE OF NAME CHANGE:** 20190410

?xml version='1.0' encoding='ASCII'? dt-20251105

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported): November 5, 2025**

**DYNATRACE, INC.** 

**(Exact name of Registrant as specified in its charter)**

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-39010** | **47-2386428** |
| **(State or other jurisdiction of<br>incorporation)** | **(Commission**<br>**File Number)** | **(I.R.S. Employer**<br>**Identification No.)** |

---

---

| | | |
|:---|:---|:---|
| **280 Congress Street, 11th Floor** | **280 Congress Street, 11th Floor** | |
| **Boston,** | **Massachusetts** | **02210** |
| **(Address of principal executive offices)** | **(Address of principal executive offices)** | **(Zip Code)** |

---

**(781) 530-1000** 

**Registrant's telephone number, including area code**

**Not Applicable** 

**(Former name or former address, if changed since last report.)**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Common Stock, par value $0.001 per share | DT | New York Stock Exchange |

---

Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. □

------

**Item 2.02. Results of Operations and Financial Conditions.**

On November 5, 2025, Dynatrace, Inc. (the "Company") issued a press release announcing, and will hold a conference call to discuss, the Company's financial results and other information for the fiscal quarter ended September 30, 2025. The full text of the press release is furnished as Exhibit 99.1 to this report and incorporated into this Item 2.02 by reference.

The information in this Item 2.02 of this Report on Form 8-K and Exhibits 99.1 and 99.2 attached hereto is intended to be furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.

**Item 9.01. Financial Statements and Exhibits.** 

(d) Exhibits

---

| | |
|:---|:---|
| Exhibit<br>No. | Description |
| 99.1 | <u>[Press Release issued by Dynatrace, Inc. dated November 5, 2025](q2fy26-earningsreleaseex991.htm)</u> |
| 99.2 | <u>[Dynatrace Investor Presentation Q2 FY26 Total ARR Expansion Trends](exhibit992-q2fy26totalar.htm)</u> |
| 104 | Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document |

---

------

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
| Date: November 5, 2025 | **DYNATRACE, INC.** | **DYNATRACE, INC.** |
|  | By: | /s/ James Benson |
|  |  | Name: James Benson |
|  |  | Title: Executive Vice President, Chief Financial Officer & Treasurer |

---

## Exhibit 99.1

**EXHIBIT 99.1**

![g668054g46h82a.jpg](g668054g46h82a.jpg)

**Dynatrace Reports Second Quarter Fiscal Year 2026 Financial Results**

**Exceeds high end of guidance across all metrics; raises FY'26 guidance** 

**Delivers ARR growth of 16% and Subscription Revenue growth of 17% on a constant currency basis**

**Achieves GAAP Operating Margin of 15% and Non-GAAP Operating Margin of 31%** 

BOSTON, Mass., November 5, 2025 - Dynatrace (NYSE: DT), the leading AI-powered observability platform, today announced financial results for the second quarter of fiscal 2026 ended September 30, 2025.

"Our strong second quarter results were fueled by the growing demand for end-to-end observability driven by large-scale tool consolidations," said Rick McConnell, CEO of Dynatrace. "As cloud and AI workloads grow rapidly, the need for an AI-powered observability platform is critical to managing the related complexity and scale. We believe Dynatrace's precise answers, advanced analytics, and deep intelligence uniquely position us to capitalize on the market opportunity ahead."

**Second Quarter Fiscal 2026 Financial and Other Recent Business Highlights**:

*All growth rates are compared to the second quarter of fiscal 2025, unless otherwise noted.*

 **Financial Highlights**:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Total ARR of $1,899 million, an increase of 17%, or 16% on a constant currency basis

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Total revenue of $494 million, an increase of 18%, or 17% on a constant currency basis

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Subscription revenue of $473 million, an increase of 18%, or 17% on a constant currency basis

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• GAAP income from operations of $73 million and non-GAAP income from operations of $153 million

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• GAAP net income per share of $0.19 and non-GAAP net income per share of $0.44, on a dilutive basis

**Business Highlights:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Strategic ecosystem advancements:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Announced a multi-year strategic collaboration with ServiceNow to advance autonomous IT operations to empower customers to drive better outcomes, optimize services, and provide seamless digital experiences that drive customer and employee satisfaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Announced an integration with Atlassian, embedding real-time production insights directly into incident management processes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Joined the GitHub Model Context Protocol (MCP) Registry, reinforcing Dynatrace's support for open, modern cloud ecosystems to help developers quickly discover and integrate AI-ready services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Go-to-market traction:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The annual contract value (ACV) from 7-figure deals closed in the quarter grew 53% year-over-year, all of which were in collaboration with partners, and nearly all leveraging end-to-end observability.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Dynatrace Platform Subscription (DPS) licensing models achieved a major milestone, with 50% of our customer base and 70% of our ARR now leveraging this flexible and scalable subscription approach.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Industry recognition:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Named a Leader in the 2025 Gartner Magic Quadrant for Digital Experience Monitoring, positioned furthest for Completeness of Vision.<sup>1</sup>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Achieved the AWS Generative AI Competency, affirming Dynatrace's technical proficiency and proven customer success in helping organizations monitor and govern generative AI applications in production.

**Share Repurchase Program**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• During the second quarter of fiscal 2026, Dynatrace spent $50 million to repurchase 994,000 shares at an average price of $50.27 under its $500 million share repurchase program. From the inception of the program in May 2024 through September 30, 2025, Dynatrace has repurchased 5.3 million shares for $268 million at an average price of $50.05.

------

**Second Quarter 2026 Financial Highlights**

**(Unaudited – In thousands, except per share data)**

---

| | | |
|:---|:---|:---|
| | **Three Months Ended September 30,** | **Three Months Ended September 30,** |
| | **2025** | **2024** |
| **Annual recurring revenue (ARR):** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total ARR | $1899402 | $1616531 |
| &nbsp;&nbsp;&nbsp;&nbsp;*Year-over-Year Increase* | 17% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;*Year-over-Year Increase - constant currency* <sup>(\*)</sup> | 16% |  |
| **Revenue:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total revenue | $493849 | $418129 |
| &nbsp;&nbsp;&nbsp;&nbsp;*Year-over-Year Increase* | 18% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;*Year-over-Year Increase - constant currency* <sup>(\*)</sup> | 17% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Subscription revenue | $473089 | $399810 |
| &nbsp;&nbsp;&nbsp;&nbsp;*Year-over-Year Increase* | 18% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;*Year-over-Year Increase - constant currency* <sup>(\*)</sup> | 17% |  |
| **GAAP Financial Measures:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;GAAP income from operations | $72969 | $47026 |
| &nbsp;&nbsp;&nbsp;&nbsp;GAAP operating margin | 15% | 11% |
| &nbsp;&nbsp;&nbsp;&nbsp;GAAP net income | $57243 | $44008 |
| &nbsp;&nbsp;&nbsp;&nbsp;GAAP net income per share - diluted | $0.19 | $0.15 |
| &nbsp;&nbsp;&nbsp;&nbsp;GAAP shares outstanding - diluted | 304303 | 301373 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by operating activities | $32017 | $23650 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by operating activities as a percent of revenue | 6% | 6% |
| **Non-GAAP Financial Measures** <sup>(\*)</sup>**:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-GAAP income from operations | $152819 | $130669 |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-GAAP operating margin | 31% | 31% |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-GAAP net income | $132731 | $112661 |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-GAAP net income per share - diluted | $0.44 | $0.37 |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-GAAP shares outstanding - diluted | 304303 | 301373 |
| &nbsp;&nbsp;&nbsp;&nbsp;Free Cash Flow | $27830 | $20138 |
| &nbsp;&nbsp;&nbsp;&nbsp;Free Cash Flow margin | 6% | 5% |

---

\* *For additional information, please see the "Non-GAAP Financial Measures" and "Definitions - Non-GAAP and Other Metrics" sections of this press release.*

------

**<u>Financial Outlook</u>**

Based on information available as of November 5, 2025, Dynatrace is issuing guidance for the third quarter and updating its prior guidance for full year fiscal 2026 in the table below.

This guidance is based on foreign exchange rates as of October 31, 2025. We expect foreign exchange to be a tailwind of approximately $38 million on ARR and approximately $34 million on revenue for fiscal 2026 compared to ARR and revenue at constant currency. This represents an incremental tailwind of approximately $5 million to both ARR and revenue compared to our prior guidance. This guidance also excludes the impact of any share repurchases after September 30, 2025.

Growth rates for ARR, Total revenue, and Subscription revenue are presented in constant currency to provide better visibility into the underlying growth of the business.

*All growth rates below are compared to the third quarter and full year of fiscal 2025.*

---

| | |
|:---|:---|
| *(In millions, except per share data)* | **Q3 Fiscal 2026 Guidance** |
| Total revenue | $503 - $508 |
| &nbsp;&nbsp;&nbsp;As reported | 15% - 16% |
| &nbsp;&nbsp;&nbsp;Constant currency | 13% - 14% |
| Subscription revenue | $481 - $486 |
| &nbsp;&nbsp;&nbsp;As reported | 15% - 16% |
| &nbsp;&nbsp;&nbsp;Constant currency | 13% - 14% |
| Non-GAAP income from operations | $143 - $148 |
| &nbsp;&nbsp;&nbsp;Non-GAAP operating margin | 28.5% - 29% |
| Non-GAAP net income | $123 - $128 |
| Non-GAAP net income per diluted share | $0.40 - $0.42 |
| Diluted weighted average shares outstanding | 305 - 306 |

---

---

| | | | |
|:---|:---|:---|:---|
| *(In millions, except per share data)* | **Current Guidance**<br>**Fiscal 2026** | **Prior Guidance**<br>**Fiscal 2026\*** | **Guidance Change <br>at Midpoint\*\*** |
| ARR | $2010 - $2025 | $1988 - $2003 | $22 |
| &nbsp;&nbsp;&nbsp;As reported | 16% - 17% | 15% - 16% | 100 bps |
| &nbsp;&nbsp;&nbsp;Constant currency | 14% - 15% | 13% - 14% | 100 bps |
| Total revenue | $1985 - $1995 | $1970 - $1985 | $13 |
| &nbsp;&nbsp;&nbsp;As reported | 17% - 17.5% | 16% - 17% | 75 bps |
| &nbsp;&nbsp;&nbsp;Constant currency | 15% - 15.5% | 14% - 15% | 75 bps |
| Subscription revenue | $1898 - $1908 | $1884 - $1899 | $12 |
| &nbsp;&nbsp;&nbsp;As reported | 17% - 17.5% | 16% - 17% | 75 bps |
| &nbsp;&nbsp;&nbsp;Constant currency | 15% - 15.5% | 14% - 15% | 75 bps |
| Non-GAAP income from operations | $571 - $581 | $563 - $573 | $8 |
| &nbsp;&nbsp;&nbsp;Non-GAAP operating margin | 29% | 29% |  |
| Non-GAAP net income | $497 - $506 | $488 - $500 | $8 |
| Non-GAAP net income per diluted share | $1.62 - $1.64 | $1.58 - $1.61 | $0.04 |
| Diluted weighted average shares outstanding | 307 - 308 | 309 - 310 | (2) |
| Free cash flow | $505 - $515 | $505 - $515 |  |
| &nbsp;&nbsp;&nbsp;Free cash flow margin | 26% | 26% |  |

---

*\*Prior guidance was issued on August 6, 2025.*

*\*\*Guidance change at midpoint is rounded to the nearest million.*

------

**Conference Call and Webcast Information**

Dynatrace will host a conference call and live webcast to discuss its results and business outlook at 8:00 a.m. Eastern Time today, November 5, 2025. To access the conference call from the U.S. and Canada, dial (866) 405-1247, or internationally, dial (201) 689-8045 with event confirmation #: 13756802. The call will also be available live via webcast on the company's website, ir.dynatrace.com.

An audio replay of the call will also be available until 11:59 p.m. Eastern Time on February 4, 2026, by dialing (877) 660-6853 from the U.S. and Canada, or for international callers by dialing (201) 612-7415 and entering event confirmation #: 13756802. In addition, an archived webcast will be available at ir.dynatrace.com.

We announce material financial information to our investors using our Investor Relations website, press releases, SEC filings and public conference calls and webcasts. We also use these channels to disclose information about the company, our planned financial and other announcements, attendance at upcoming investor and industry conferences, and for complying with our disclosure obligations under Regulation FD.

**Non-GAAP Financial Measures**

In addition to disclosing financial measures prepared in accordance with GAAP, this press release and the accompanying tables contain certain non-GAAP financial measures as defined by Regulation G, including non-GAAP income from operations, non-GAAP operating margin, non-GAAP net income, non-GAAP net income per diluted share, free cash flow, and free cash flow margin. We also use or discuss non-GAAP financial measures in conference calls, slide presentations and webcasts.

We use these non-GAAP financial measures for financial and operational decision-making purposes, and as a means to evaluate period-to-period comparisons and liquidity. We believe that these non-GAAP financial measures provide useful information about our operating results, enhance the overall understanding of past financial performance and allow for greater transparency with respect to metrics used by our management in its financial and operational decision-making.

The presentation of the non-GAAP financial measures is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. Our non-GAAP financial measures may not provide information that is directly comparable to similarly titled metrics provided by other companies.

Non-GAAP financial measures are defined in this press release and the tables included in this press release include reconciliations of historical non-GAAP financial measures to their most directly comparable GAAP measures.

We also include non-GAAP financial measures in our financial outlook included in this press release. Reconciliations of forward-looking non-GAAP income from operations, non-GAAP net income, non-GAAP net income per diluted share, and free cash flow guidance to the most directly comparable GAAP measures are not available without unreasonable efforts due to the high variability, complexity, and low visibility with respect to the charges excluded from these non-GAAP measures; in particular, the measures and effects of share-based compensation expense, employer taxes and tax deductions specific to equity compensation awards that are directly impacted by future hiring, turnover and retention needs, as well as unpredictable fluctuations in our stock price. We expect the variability of the above charges to have a significant, and potentially unpredictable, impact on our future GAAP financial results.

**Definitions - Non-GAAP and Other Metrics**

**Annual Recurring Revenue (ARR)** is defined as the daily revenue of all subscription agreements that are actively generating revenue as of the last day of the reporting period multiplied by 365. We exclude from our calculation of ARR any revenues derived from month-to-month agreements and/or product usage overage billings.

**Constant Currency** amounts for ARR, Total revenue, and Subscription revenue are presented to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign exchange rate fluctuations. To present this information, current and comparative prior period results for entities reporting in currencies other than United States dollars are converted into United States dollars using the average exchange rates from the comparative period rather than the actual exchange rates in effect during the respective periods. All growth comparisons relate to the corresponding period in the last fiscal year.

------

**Non-GAAP Income from Operations** is defined as GAAP income from operations adjusted for the following items: share-based compensation; employer payroll taxes on employee stock transactions; amortization of intangibles; transaction, restructuring and other non-recurring or unusual items that may arise from time to time. The related Non-GAAP Operating Margin is non-GAAP income from operations expressed as a percentage of total revenue.

**Non-GAAP Net Income** is defined as GAAP net income adjusted for the following items: income tax expense/benefit; non-GAAP effective cash taxes; net interest expense and income; net cash received from and paid for interest; share-based compensation; employer payroll taxes on employee stock transactions, amortization of intangibles; gains and losses on currency translation; and transaction, restructuring and other non-recurring or unusual items that may arise from time to time. Non-GAAP net income per diluted share is calculated as non-GAAP net income divided by the diluted weighted average shares outstanding used to compute GAAP net income per diluted share.

**Free Cash Flow** is defined as the net cash provided by or used in operating activities less capital expenditures, reflected as purchase of property and equipment and capitalized software additions in our financial statements. The related margin is free cash flow expressed as a percentage of total revenue.

**About Dynatrace**

Dynatrace (NYSE: DT) is advancing observability for today's digital businesses, helping to transform the complexity of modern digital ecosystems into powerful business assets. By leveraging AI-powered insights, Dynatrace enables organizations to analyze, automate, and innovate faster to drive their business forward. To learn more about Dynatrace, visit www.dynatrace.com, visit our blog and follow us on LinkedIn and X @dynatrace.

Dynatrace and the Dynatrace logo are trademarks of the Dynatrace, Inc. group of companies. All other trademarks are the property of their respective owners.© 2025 Dynatrace LLC.

***Cautionary Language Concerning Forward-Looking Statements***

This press release includes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding cloud and artificial intelligence (AI) workload growth and the related need for AI-powered observability platforms, Dynatrace's capabilities and platform and the company's related market opportunity, the expected and current benefits that we believe organizations receive from using the Dynatrace platform and offerings of our partners and other companies with which we collaborate, and our financial and business outlook, including our financial guidance for the third quarter and full year of fiscal 2026. These forward-looking statements include, but are not limited to, plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts and statements identified by words such as "will," "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" or words of similar meaning. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control including, without limitation, our ability to maintain our revenue growth rates in future periods; market adoption of our product offerings; continued demand for, and spending on, our solutions; our ability to innovate and develop solutions that meet customer needs as cloud and AI workloads grow rapidly; the ability of our platform and solutions to effectively interoperate with customers' IT infrastructures; our ability to acquire new customers and retain and expand our relationships with existing customers; our ability to expand our sales and marketing capabilities; our ability to compete; our ability to maintain successful relationships with partners; security breaches, other security incidents and any real or perceived errors, failures, defects or vulnerabilities in our solutions; our ability to protect our intellectual property; our ability to hire and retain necessary qualified employees to grow our business and expand our operations; our ability to successfully complete acquisitions and to integrate newly acquired businesses and offerings; the effect on our business of the macroeconomic environment, associated global economic conditions and geopolitical disruption; and other risks set forth under the caption "Risk Factors" in our Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q, and our other SEC filings. We assume no obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.

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**Gartner Disclaimers**

1) Gartner, Magic Quadrant for Digital Experience Monitoring, Padraig Byrne, Pankaj Prasad, DB Cummings, Martin Caren, and Tanmay Bisht, 27 October 2025.

The Gartner content described herein (the "Gartner Content") represents research opinion or viewpoints published, as part of a syndicated subscription service, by Gartner, Inc. ("Gartner"), and is not a representation of fact. Gartner Content speaks as of its original publication date (and not as of the date of this earnings press release), and the opinions expressed in the Gartner Content are subject to change without notice.

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, and MAGIC QUADRANT is a registered trademark of Gartner, Inc. and/or its affiliates and are used herein with permission. All rights reserved.

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**DYNATRACE, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS**

**(Unaudited – In thousands, except per share data)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended<br>September 30,** | **Three Months Ended<br>September 30,** | **Six Months Ended<br>September 30,** | **Six Months Ended<br>September 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Subscription | $473089 | $399810 | $930596 | $781386 |
| &nbsp;&nbsp;&nbsp;&nbsp;Service | 20760 | 18319 | 40602 | 35963 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total revenue | 493849 | 418129 | 971198 | 817349 |
| Cost of revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of subscription | 68404 | 55796 | 133422 | 109368 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of service | 20501 | 17595 | 39856 | 34397 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of acquired technology | 859 | 4393 | 1695 | 8772 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total cost of revenue | 89764 | 77784 | 174973 | 152537 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gross profit | 404085 | 340345 | 796225 | 664812 |
| Operating expenses: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Research and development | 114992 | 95366 | 223164 | 182944 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sales and marketing | 167675 | 144224 | 332989 | 289330 |
| &nbsp;&nbsp;&nbsp;&nbsp;General and administrative | 48437 | 48953 | 104741 | 93931 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of other intangibles | 12 | 4776 | 24 | 9552 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 331116 | 293319 | 660918 | 575757 |
| Income from operations | 72969 | 47026 | 135307 | 89055 |
| Interest income, net | 13242 | 12850 | 25537 | 25625 |
| Other income (expense), net | 894 | (2038) | 7651 | (4073) |
| Income before income taxes | 87105 | 57838 | 168495 | 110607 |
| Income tax expense | (29862) | (13830) | (63297) | (27979) |
| Net income | $57243 | $44008 | $105198 | $82628 |
| Net income per share: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic | $0.19 | $0.15 | $0.35 | $0.28 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | $0.19 | $0.15 | $0.35 | $0.27 |
| Weighted average shares outstanding: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic | 301558 | 298089 | 300859 | 297736 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | 304303 | 301373 | 304801 | 301714 |

---

**UNAUDITED SHARE-BASED COMPENSATION** 

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended<br>September 30,** | **Three Months Ended<br>September 30,** | **Six Months Ended<br>September 30,** | **Six Months Ended<br>September 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| Cost of revenue | $10015 | $9714 | $19865 | $17444 |
| Research and development | 29718 | 26607 | 56579 | 48187 |
| Sales and marketing | 22576 | 20750 | 42610 | 36772 |
| General and administrative | 14505 | 14632 | 29655 | 26957 |
| Total share-based compensation | $76814 | $71703 | $148709 | $129360 |

---

------

**DYNATRACE, INC.**

**CONDENSED CONSOLIDATED BALANCE SHEETS**

**(In thousands, except share and per share data)**

---

| | | |
|:---|:---|:---|
| | **September 30, 2025** | **March 31, 2025** |
| | (unaudited) | |
| **Assets** |  |  |
| Current assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $1225023 | $1017039 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | 89637 | 96189 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net | 315044 | 624437 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred commissions, current | 121948 | 109895 |
| &nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 86517 | 83901 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 1838169 | 1931461 |
| Long-term investments | 54538 | 51648 |
| Property and equipment, net | 66084 | 61522 |
| Operating lease right-of-use assets, net | 78143 | 67479 |
| Goodwill | 1344006 | 1336435 |
| Intangible assets, net | 24055 | 25534 |
| Deferred tax assets, net | 523479 | 529550 |
| Deferred commissions, non-current | 111943 | 95297 |
| Other assets | 41316 | 40752 |
| **Total assets** | $4081733 | $4139678 |
| **Liabilities and shareholders' equity** |  |  |
| Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | $21617 | $27286 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses, current | 230030 | 252503 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred revenue, current | 889957 | 1087518 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating lease liabilities, current | 16980 | 13979 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 1158584 | 1381286 |
| Deferred revenue, non-current | 42975 | 50989 |
| Accrued expenses, non-current | 30865 | 24452 |
| Operating lease liabilities, non-current | 69844 | 61384 |
| Deferred tax liabilities | 871 | 419 |
| Total liabilities | 1303139 | 1518530 |
| Shareholders' equity: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common shares, $0.001 par value, 600,000,000 shares authorized, 301,791,098 and 299,813,048 shares issued and outstanding at September 30, 2025 and March 31, 2025, respectively | 302 | 300 |
| &nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital | 2424121 | 2370563 |
| &nbsp;&nbsp;&nbsp;&nbsp;Retained earnings | 390125 | 284927 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated other comprehensive loss | (35954) | (34642) |
| Total shareholders' equity | 2778594 | 2621148 |
| **Total liabilities and shareholders' equity** | $4081733 | $4139678 |

---

------

**DYNATRACE, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS**

**(Unaudited – In thousands)**

---

| | | |
|:---|:---|:---|
| | **Six Months Ended<br>September 30,** | **Six Months Ended<br>September 30,** |
| | **2025** | **2024** |
| **Cash flows from operating activities:** |  |  |
| Net income | $105198 | $82628 |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjustments to reconcile net income to cash provided by operations: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation | 9408 | 8635 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization | 2756 | 19356 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Share-based compensation | 148709 | 129360 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred income taxes | 8894 | (39059) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | (8040) | 3133 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net change in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable | 320545 | 300077 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred commissions | (23254) | (7166) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other assets | 4145 | (14073) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable and accrued expenses | (33755) | (30479) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating leases, net | 746 | 1465 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred revenue | (233643) | (199486) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by operating activities | 301709 | 254391 |
| **Cash flows from investing activities:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchase of property and equipment | (11669) | (6871) |
| &nbsp;&nbsp;&nbsp;&nbsp;Capitalized software additions | (194) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Acquisition of a business, net of cash acquired |  | (100) |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of investments | (63764) | (80024) |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from sales and maturities of investments | 69122 | 40375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash used in investing activities | (6505) | (46620) |
| **Cash flows from financing activities:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from employee stock purchase plan | 11871 | 10389 |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from exercise of stock options | 3738 | 8773 |
| &nbsp;&nbsp;&nbsp;&nbsp;Repurchases of common stock | (95034) | (90107) |
| &nbsp;&nbsp;&nbsp;&nbsp;Taxes paid related to net share settlement of equity awards | (16338) | (11966) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other | (3314) | (1656) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash used in financing activities | (99077) | (84567) |
| Effect of exchange rates on cash and cash equivalents | 11857 | 4990 |
| Net increase in cash and cash equivalents | 207984 | 128194 |
| Cash and cash equivalents, beginning of period | 1017039 | 778983 |
| Cash and cash equivalents, end of period | $1225023 | $907177 |

---

------

**DYNATRACE, INC.**

**GAAP to Non-GAAP Reconciliations**

**(Unaudited - In thousands, except percentages)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended September 30, 2025** | **Three Months Ended September 30, 2025** | **Three Months Ended September 30, 2025** | **Three Months Ended September 30, 2025** | **Three Months Ended September 30, 2025** | **Three Months Ended September 30, 2025** |
| | **GAAP** | **Share-based compensation** | **Employer payroll taxes on employee stock transactions** | **Amortization of intangibles** | **Transaction, restructuring, and other** | **Non-GAAP** |
| **Non-GAAP income from operations:** | **Non-GAAP income from operations:** | **Non-GAAP income from operations:** | **Non-GAAP income from operations:** | **Non-GAAP income from operations:** | **Non-GAAP income from operations:** | **Non-GAAP income from operations:** |
| Cost of revenue | $89764 | $(10015) | $(289) | $(859) | $— | $78601 |
| Gross profit | 404085 | 10015 | 289 | 859 |  | 415248 |
| *Gross margin* | 82% |  |  |  |  | 84% |
| Research and development | 114992 | (29718) | (1156) |  |  | 84118 |
| Sales and marketing | 167675 | (22576) | (549) |  |  | 144550 |
| General and administrative | 48437 | (14505) | (171) |  |  | 33761 |
| Amortization of other intangibles | 12 |  |  | (12) |  |  |
| Income from operations | $72969 | $76814 | $2165 | $871 | $— | $152819 |
| *Operating margin* | 15% |  |  |  |  | 31% |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended September 30, 2024** | **Three Months Ended September 30, 2024** | **Three Months Ended September 30, 2024** | **Three Months Ended September 30, 2024** | **Three Months Ended September 30, 2024** | **Three Months Ended September 30, 2024** |
| | **GAAP** | **Share-based compensation** | **Employer payroll taxes on employee stock transactions** | **Amortization of intangibles** | **Transaction, restructuring, and other** | **Non-GAAP** |
| **Non-GAAP income from operations:** | **Non-GAAP income from operations:** | **Non-GAAP income from operations:** | **Non-GAAP income from operations:** | **Non-GAAP income from operations:** | **Non-GAAP income from operations:** | **Non-GAAP income from operations:** |
| Cost of revenue | $77784 | $(9714) | $(431) | $(4393) | $— | $63246 |
| Gross profit | 340345 | 9714 | 431 | 4393 |  | 354883 |
| *Gross margin* | 81% |  |  |  |  | 85% |
| Research and development | 95366 | (26607) | (1305) |  |  | 67454 |
| Sales and marketing | 144224 | (20750) | (729) |  |  | 122745 |
| General and administrative | 48953 | (14632) | (306) |  |  | 34015 |
| Amortization of other intangibles | 4776 |  |  | (4776) |  |  |
| Income from operations | $47026 | $71703 | $2771 | $9169 | $— | $130669 |
| *Operating margin* | 11% |  |  |  |  | 31% |

---

------

**DYNATRACE, INC.**

**GAAP to Non-GAAP Reconciliations**

**(Unaudited - In thousands, except per share data)**

---

| | | |
|:---|:---|:---|
| | **Three Months Ended September 30,** | **Three Months Ended September 30,** |
| | **2025** | **2024** |
| **Non-GAAP net income:** |  |  |
| Net income | $57243 | $44008 |
| Income tax expense | 29862 | 13830 |
| Non-GAAP effective cash tax | (30129) | (30856) |
| Interest income, net | (13242) | (12850) |
| Cash received from interest, net | 10041 | 12848 |
| Share-based compensation | 76814 | 71703 |
| Employer payroll taxes on employee stock transactions | 2165 | 2771 |
| Amortization of intangibles | 871 | 9169 |
| Transaction, restructuring, and other |  |  |
| (Gain) loss on currency translation | (894) | 2038 |
| Non-GAAP net income | $132731 | $112661 |
| **Share count:** |  |  |
| Weighted-average shares outstanding - basic | 301558 | 298089 |
| Weighted-average shares outstanding - diluted | 304303 | 301373 |
| **Shares used in non-GAAP per share calculations:** |  |  |
| Weighted-average shares outstanding - basic | 301558 | 298089 |
| Weighted-average shares outstanding - diluted | 304303 | 301373 |
| **Non-GAAP net income per share:** |  |  |
| Net income per share - basic | $0.19 | $0.15 |
| Net income per share - diluted | $0.19 | $0.15 |
| Non-GAAP net income per share - basic | $0.44 | $0.38 |
| Non-GAAP net income per share - diluted | $0.44 | $0.37 |

---

---

| | | |
|:---|:---|:---|
| | **Three Months Ended September 30,** | **Three Months Ended September 30,** |
| | **2025** | **2024** |
| **Free cash flow:** |  |  |
| Net cash provided by operating activities | $32017 | $23650 |
| Purchase of property and equipment | (4187) | (3512) |
| Capitalized software additions |  |  |
| Free cash flow | $27830 | $20138 |

---

------

**DYNATRACE, INC.** 

**GAAP to Non-GAAP Reconciliations**

**(Unaudited - In thousands, except percentages)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Six Months Ended September 30, 2025** | **Six Months Ended September 30, 2025** | **Six Months Ended September 30, 2025** | **Six Months Ended September 30, 2025** | **Six Months Ended September 30, 2025** | **Six Months Ended September 30, 2025** |
| | **GAAP** | **Share-based compensation** | **Employer payroll taxes on employee stock transactions** | **Amortization of intangibles** | **Transaction, restructuring, and other** | **Non-GAAP** |
| **Non-GAAP income from operations:** | **Non-GAAP income from operations:** | **Non-GAAP income from operations:** | **Non-GAAP income from operations:** | **Non-GAAP income from operations:** | **Non-GAAP income from operations:** | **Non-GAAP income from operations:** |
| Cost of revenue | $174973 | $(19865) | $(1705) | $(1695) | $— | $151708 |
| Gross profit | 796225 | 19865 | 1705 | 1695 |  | 819490 |
| *Gross margin* | 82% |  |  |  |  | 84% |
| Research and development | 223164 | (56579) | (4559) |  |  | 162026 |
| Sales and marketing | 332989 | (42610) | (2850) |  |  | 287529 |
| General and administrative | 104741 | (29655) | (1076) |  |  | 74010 |
| Amortization of other intangibles | 24 |  |  | (24) |  |  |
| Income from operations | $135307 | $148709 | $10190 | $1719 | $— | $295925 |
| *Operating margin* | 14% |  |  |  |  | 30% |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Six Months Ended September 30, 2024** | **Six Months Ended September 30, 2024** | **Six Months Ended September 30, 2024** | **Six Months Ended September 30, 2024** | **Six Months Ended September 30, 2024** | **Six Months Ended September 30, 2024** |
| | **GAAP** | **Share-based compensation** | **Employer payroll taxes on employee stock transactions** | **Amortization of intangibles** | **Transaction, restructuring, and other** | **Non-GAAP** |
| **Non-GAAP income from operations:** | **Non-GAAP income from operations:** | **Non-GAAP income from operations:** | **Non-GAAP income from operations:** | **Non-GAAP income from operations:** | **Non-GAAP income from operations:** | **Non-GAAP income from operations:** |
| Cost of revenue | $152537 | $(17444) | $(1317) | $(8772) | $— | $125004 |
| Gross profit | 664812 | 17444 | 1317 | 8772 |  | 692345 |
| *Gross margin* | 81% |  |  |  |  | 85% |
| Research and development | 182944 | (48187) | (3714) |  | (3) | 131040 |
| Sales and marketing | 289330 | (36772) | (2233) |  |  | 250325 |
| General and administrative | 93931 | (26957) | (916) |  | 3 | 66061 |
| Amortization of other intangibles | 9552 |  |  | (9552) |  |  |
| Income from operations | $89055 | $129360 | $8180 | $18324 | $— | $244919 |
| *Operating margin* | 11% |  |  |  |  | 30% |

---

------

**DYNATRACE, INC.**

**GAAP to Non-GAAP Reconciliations**

**(Unaudited - In thousands, except per share data)**

---

| | | |
|:---|:---|:---|
| | **Six Months Ended September 30,** | **Six Months Ended September 30,** |
| | **2025** | **2024** |
| **Non-GAAP net income:** |  |  |
| Net income | $105198 | $82628 |
| Income tax expense | 63297 | 27979 |
| Non-GAAP effective cash tax | (58793) | (57950) |
| Interest income, net | (25537) | (25625) |
| Cash received from interest, net | 21876 | 24618 |
| Share-based compensation | 148709 | 129360 |
| Employer payroll taxes on employee stock transactions | 10190 | 8180 |
| Amortization of intangibles | 1719 | 18324 |
| Transaction, restructuring, and other |  |  |
| (Gain) loss on currency translation | (7651) | 4073 |
| Non-GAAP net income | $259008 | $211587 |
| **Share count:** |  |  |
| Weighted-average shares outstanding - basic | 300859 | 297736 |
| Weighted-average shares outstanding - diluted | 304801 | 301714 |
| **Shares used in non-GAAP per share calculations:** |  |  |
| Weighted-average shares outstanding - basic | 300859 | 297736 |
| Weighted-average shares outstanding - diluted | 304801 | 301714 |
| **Non-GAAP net income per share:** |  |  |
| Net income per share - basic | $0.35 | $0.28 |
| Net income per share - diluted | $0.35 | $0.27 |
| Non-GAAP net income per share - basic | $0.86 | $0.71 |
| Non-GAAP net income per share - diluted | $0.85 | $0.70 |

---

---

| | | |
|:---|:---|:---|
| | **Six Months Ended September 30,** | **Six Months Ended September 30,** |
| | **2025** | **2024** |
| **Free cash flow:** |  |  |
| Net cash provided by operating activities | $301709 | $254391 |
| Purchase of property and equipment | (11669) | (6871) |
| Capitalized software additions | (194) |  |
| Free cash flow | $289846 | $247520 |

---

------

**Contacts** 

**Investor Contact:**

Noelle Faris

VP, Investor Relations

ir@dynatrace.com

**Media Relations:**

Dynatrace PR Team

pr-team@dynatrace.com

## Exhibit 99.2

![](exhibit992-q2fy26totalar001.jpg)

1 EXHIBIT 99.2

------