PTC's Onshape Launches Cloud-Native Model-Based Definition Capabilities

Rhea-AI Summary

PTC (NASDAQ: PTC) on Feb 26, 2026 released a fully cloud-native Model-Based Definition (MBD) capability embedded in Onshape CAD and PDM. The feature embeds manufacturing information directly into live 3D models, enabling a single always-up-to-date product definition, improved collaboration, and fewer handoffs.

Key capabilities include integrated 3D annotations, a smart inspection panel, shareable PMI-rich views via URLs, feature-tree awareness, and STEP AP242 export for inspection and compliance workflows.

Key Figures

3D model: 3D model 3D annotations: 3D annotations 2D drawings: 2D drawings +2 more

5 metrics

3D model 3D model Manufacturing information embedded directly in live 3D model

3D annotations 3D annotations Integrated 3D annotations with GD&T, weld symbols, and datums

2D drawings 2D drawings MBD aims to reduce reliance on separate 2D drawings

STEP AP242 STEP AP242 Export format for downstream inspection and compliance workflows

AS9102 AS9102 Referenced standard for inspection and compliance integrations

Market Reality Check

Price: $157.19 Vol: Volume 1,047,077 is below...

normal vol

$157.19 Last Close

Volume Volume 1,047,077 is below the 1,433,588 share 20-day average, indicating muted trading interest. normal

Technical Shares at $154.11 are trading below the $184.17 200-day MA and 29.85% under the $219.69 52-week high.

Peers on Argus

PTC gained 0.35% while peers were mixed: TYL up 2.08%, GWRE up 6.05%, HUBS up 6....

1 Up 1 Down

PTC gained 0.35% while peers were mixed: TYL up 2.08%, GWRE up 6.05%, HUBS up 6.13%, SSNC up 3.48%, and ZM down 1.56%. Momentum scanner shows BSY up ~6.0% and ZM down ~5.49%, suggesting stock-specific rather than broad sector momentum.

Historical Context

5 past events · Latest: Feb 12 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 12	PLM deployment win	Positive	-3.1%	SPG Company selected FlexPLM to replace legacy PLM and improve collaboration.
Feb 04	Earnings results	Positive	+1.7%	Reported ARR <b>$2,494M</b>, revenue <b>$686M</b>, strong EPS and margin expansion.
Jan 27	AI PLM launch	Positive	-0.7%	Launched Windchill AI Parts Rationalization to reduce redundancy and improve parts data.
Jan 20	Onshape customer win	Positive	-3.4%	Reditus Space chose Onshape Government to develop reusable orbital reentry capsule.
Jan 15	ALM AI releases	Positive	+0.2%	Released Codebeamer 3.2, Codebeamer AI 1.0, and Pure Variants 7.2 for ALM.

Pattern Detected

Recent product and customer wins have often seen muted or negative next-day reactions, with more divergences than alignments to seemingly positive news.

Recent Company History

Over the past months, PTC has reported solid fundamentals and expanded its product portfolio. Q1 FY2026 results on Feb 4 highlighted revenue of $686M and ARR of $2,494M, yet other product launches and customer wins (Windchill AI, Onshape adoption, FlexPLM deployment) saw mixed to negative price reactions. Today’s Onshape cloud-native MBD launch continues the Intelligent Product Lifecycle theme, extending cloud and AI-enabled capabilities across design and manufacturing workflows.

Market Pulse Summary

This announcement extended PTC’s cloud-native strategy by embedding Model-Based Definition directly ...

Analysis

This announcement extended PTC’s cloud-native strategy by embedding Model-Based Definition directly into Onshape, tying manufacturing information to the live 3D model and streamlining design-to-production workflows. It reinforced earlier PLM and AI launches that support an Intelligent Product Lifecycle vision. With shares at $154.11, below the $184.17 200-day MA and $219.69 52-week high, investors may watch how adoption of these capabilities influences future earnings and customer wins.

Key Terms

model-based definition, gd&t, pmi, pc-dmis, +1 more

5 terms

model-based definition technical

"announced the release of a fully cloud-native Model-Based Definition (MBD) capability"

A model-based definition is a description or estimate produced by a mathematical or computer model that converts inputs—such as sales forecasts, clinical results, or market trends—into quantitative outcomes like projected revenue, probability of success, or risk measures. For investors it matters because these model-driven results act like a weather forecast for a company's prospects: they help compare scenarios, price risk, and guide decisions, while their usefulness depends on the quality of the assumptions and data used.

gd&t technical

"Engineers can embed GD&T, weld symbols, and datums directly into the 3D model"

Geometric Dimensioning and Tolerancing (GD&T) is a standardized system of symbols and rules that specify the exact shape, size and allowable variation of manufactured parts so they will reliably fit and function together. For investors, GD&T matters because it controls product quality, manufacturing costs and supplier compatibility—like a detailed recipe that reduces wasted ingredients and ensures parts from different makers snap together correctly—affecting margins, delivery risk and warranty exposure.

pmi technical

"All product manufacturing information (PMI) is automatically organized into a structured"

PMI stands for Purchasing Managers’ Index, a monthly survey-based measure of activity in a specific sector (usually manufacturing or services) that summarizes whether business conditions are expanding or contracting. Think of it as a quick temperature check of company activity—readings above 50 mean expansion, below 50 mean contraction—which investors use to gauge economic health, anticipate earnings trends, and adjust risk exposure before full government data arrive.

pc-dmis technical

"support for STEP AP242 export and integration with tools such as PC-DMIS and AS9102"

PC‑DMIS is computer software that controls precision measurement machines and records exact dimensions of manufactured parts, acting like a digital ruler and map that tells engineers whether a part meets specifications. Investors care because this type of software supports industrial customers’ quality control, creates recurring sales for updates and services, and signals demand for precision manufacturing—factors that affect revenue stability and aftermarket margins.

as9102 regulatory

"integration with tools such as PC-DMIS and AS9102"

AS9102 is the aerospace industry standard for First Article Inspection (FAI), a formal report and set of measurements that confirm a new or revised part has been made exactly to engineering specifications and drawings. For investors it acts like a factory’s final checklist before mass production: passing AS9102 reduces the risk of surprise defects, production delays, costly rework and regulatory issues that can disrupt delivery timelines, margins and contract performance.

AI-generated analysis. Not financial advice.

• Introduces the only cloud-native MBD capability built into the core modeling experience, fully integrated within CAD and PDM
• Creates a single, always-up-to-date product definition by embedding manufacturing information directly in the live 3D model
• Improves collaboration and change control across engineering and manufacturing

BOSTON, Feb. 26, 2026 /PRNewswire/ -- PTC (NASDAQ: PTC) today announced the release of a fully cloud-native Model-Based Definition (MBD) capability, built directly into its Onshape® computer-aided design (CAD) and product data management (PDM) platform. The new capability allows engineering teams to add manufacturing information directly into the 3D model early in the design process, enabling clearer design intent, fewer handoffs, and improved efficiency across design, documentation, manufacturing, and quality.

In traditional file-based CAD and PDM systems, manufacturing data is spread across drawings, exports, and disconnected files. This approach makes product definition harder to keep current, accessible, and trustworthy. The Onshape cloud-native platform, built on Amazon Web Services (AWS), helps eliminate these challenges by allowing teams to work from the same, always‑up‑to‑date product definition, enabling reduced errors and accelerated design‑to‑production workflows.

"When you build aircraft under strict regulatory oversight, ambiguity is expensive," said Marc Germain, Chief Digital Officer at Aura Aero. "As an early user of MBD in Onshape, being able to carry certification and manufacturing requirements inside the model instead of across drawings and files is already cutting rework and review cycles and helping our teams work faster with fewer handoffs."

"Onshape Model-Based definition is a great example of how AWS and PTC are working together to modernize engineering," said Michael Choe, AWS General Manager, US Automotive and Manufacturing. "By re-architecting core engineering tools on AWS' cloud-native platforms, we're unlocking new possibilities—making them easier to deploy globally, more powerful through AI-driven capabilities, and dramatically better at enabling friction-free, real-time collaboration across distributed teams. This strategic collaboration represents a major leap forward in how teams design, build, and bring products to market."

Key MBD capabilities include:

• Integrated 3D Annotations: Engineers can embed GD&T, weld symbols, and datums directly into the 3D model, clearly communicating design intent without relying on separate 2D drawings.
• Smart Inspection Panel: All product manufacturing information (PMI) is automatically organized into a structured, filterable list, with instant cross-highlighting to the related geometry in the model.
• Shareable MBD Views: Teams can share PMI-rich models through simple URLs that preserve views and annotations, enabling browser-based access with no exports, plugins, or add-ons required.
• Feature Tree Awareness: MBD annotations remain intelligently linked to the feature tree, keeping specifications connected to the correct geometry as designs evolve.
• Downstream-Ready Data: Models can be prepared for inspection and compliance workflows with support for STEP AP242 export and integration with tools such as PC-DMIS and AS9102.

"Cloud-native MBD is a critical step for our customers to build an intelligent, fully digital product lifecycle," said David Katzman, EVP and General Manager of Onshape and Arena at PTC. "By moving product definition into the cloud, companies can finally break down barriers between design, manufacturing, and the rest of the enterprise. This shift is made possible by AWS' scalable infrastructure and AI capabilities, which enable Onshape to deliver a faster and more resilient cloud-native platform."

With Onshape and the rest of its portfolio, PTC is delivering on its vision for the Intelligent Product Lifecycle: enabling manufacturers and product companies to build a product data foundation, extend the value of that data across their enterprise, and accelerate AI-driven transformation. Broader use of product data enables companies to bring higher quality products to market faster, better manage product complexity, meet regulatory and compliance standards, and much more.

For more information on cloud-native MBD in Onshape, visit Model-Based Definition (MBD) in 3D CAD.

To learn more about Onshape, the industry's only cloud-native CAD and PDM platform, visit www.onshape.com.

About PTC

PTC (NASDAQ: PTC) is a global software company enabling manufacturers and product companies to digitally transform how they design, manufacture, and service products. Headquartered in Boston, Massachusetts, PTC employs over 7,000 people and supports more than 30,000 customers globally. For more information, visit www.ptc.com.

Media Contact
Julia Reed
jreed@ptc.com 

Investor Contact
Matt Shimao
mshimao@ptc.com

PTC, Onshape, and the PTC logo are trademarks or registered trademarks of PTC Inc. and its subsidiaries in the United States and other countries.

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SOURCE PTC Inc.

FAQ

What is the new Onshape Model-Based Definition announced by PTC on Feb 26, 2026 (PTC)?

It is a fully cloud-native MBD capability embedded directly into Onshape CAD and PDM. According to the company, this lets engineers add manufacturing information into the live 3D model to keep product definition current and reduce handoffs across design and manufacturing.

How does Onshape MBD improve collaboration for PTC customers (PTC)?

It provides a single, always-up-to-date product definition embedded in the 3D model for shared access. According to the company, teams can share PMI-rich models via simple URLs, enabling browser-based access without exports, plugins, or add-ons.

What manufacturing data formats and integrations does Onshape MBD support for PTC users?

Onshape MBD supports STEP AP242 export and integration with tools such as PC-DMIS and AS9102. According to the company, these downstream-ready options prepare models for inspection and compliance workflows.

Which specific MBD features did PTC highlight for Onshape on Feb 26, 2026?

Highlighted features include integrated 3D GD&T annotations, a smart inspection panel, shareable MBD views, and feature-tree awareness. According to the company, these features keep PMI linked to correct geometry as designs evolve.

How does PTC say cloud-native MBD affects design-to-production workflows for Onshape customers?

PTC says cloud-native MBD reduces errors and accelerates design-to-production by embedding manufacturing information early in design. According to the company, this reduces reliance on disconnected drawings and exports, improving trust in product definition.

What role does AWS play in Onshape's cloud-native MBD according to PTC?

AWS provides the scalable cloud infrastructure and platform capabilities used by Onshape's MBD functionality. According to the company, re-architecting on AWS enables global deployment, AI capabilities, and real-time collaboration across distributed teams.