Dynatrace, Inc. · NYSE:DT

Dynatrace — Q2 2026 Earnings Presentation

37 slides from Dynatrace's earnings presentation, Nov 5, 2025

  1. Slide 1: Q2 2026 Investor Presentation

    fp dynatrace Q2 2026 Investor Presentation November 5, 2025

  2. Slide 2: Legal Disclaimer

    Q Legal Disclaimer This presentation consists of these slides and the associated remarks and comments, which are related and intended to be presented and understood together. Please refer to the appendix of these slides for definitions of certain terms. Cautionary Language Concerning Forward-Looking

  3. Slide 3: What We Do

    WHAT WE DO os. ¥ Dynatrace is the leading Al-powered observability ° platform, ensuring digital businesses run smoothly and recover quickly—keeping the world working.

  4. Slide 4: Enterprises face unprecedented challenges

    2 =) Fragmented tools Enterprises face unprecedented challenges Cal Challenging customer experiences Limited analytics

  5. Slide 5: The Dynatrace Difference

    a THE DYNATRACE DIFFERENCE We help our customers underst their business like never befo eeReRY

  6. Slide 6: So they can drive their business forward

    So they can drive their business forward > § ., Analyze Analyze every transaction coy Automate Automate at the speed of AI Innovate faster Innovate without limits we B Q

  7. Slide 7: The unparalleled value of a unified platform

    Q ae Infrastructure observability Application observability The unparalleled value of a unified platform © Developer experience a Al and LLM observability Business observability Customer experience

  8. Slide 8: The Dynatrace Difference

    The Dynatrace difference Get precise answers from causal, predictive, and generative AI 0, Ons cn a PP Business teams Empower every team in the enterprise to automate Q AI native teams

  9. Slide 9: Grail: Our game-changing platform architecture

    Grail: Our game-changing platform architecture MS co o [a Topology Traces ip = At 106 Metrics Logs & gL, QO N © Behavior Metadata {i} ie Code Network Unified storage Contextual analytics a} —a} ae) a -O “X., Schemaless oO SA @ Scalable and performant Cost effective Unified observability Security Bus

  10. Slide 10: Davis: Purpose-built for the AI era

    Q Davis: Purpose-built for the Alera Dynatrace applies the power of three AI approach—integrating causal, predictive, and generative AI—to give you precise answers that drive action, not just data on glass.

  11. Slide 11: Platform evolution to support autonomous operations

    Reactive operations Platform evolution to support autonomous operations | THEINNOVATOR | t Automated Preventive root-cause operations Q 1 Autonomous | Operations Issues are deeply understood after they Issues are auto- diagnosed when they Issues are anticipated before they occur Issues are resolved

  12. Slide 12: 20+ years of groundbreaking innovation & milestones

    Gartner Gartner Gartner Gartner 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 rati APM market 20+ years of groundbreaking innovation & milestones Grail™ data Sales reach

  13. Slide 13: A leader in the cloud observability market since 2005

    A leader in the cloud observability market since 2005 Gartner Positioned highest in Execution in the 2025 Gartner® Magic Quadrant” for Observability Platforms. This is the 15th consecutive year that Gartner has named Dynatrace a Leader in this report. FORRESTER’ Dynatrace named a Leader in The Forre

  14. Slide 14: The observability and security market is large and growing

    * * ‘ The observability and security market pes is large and growing . ‘ * . +3658 TAM includes $518 bottoms-up TAM based on the total number of glabal enterprises with oreceian $1 billion in annual revenue, as identified by S&P Capital 10 in April 2025. For each respective band D1 customers, we mul

  15. Slide 15: Expansive go-to-market

    Expansive go-to-market to capture global 15,000 customers Q Comprehensive partner channels Global System Integrators (GSIs), Hyperscaler and Technology Alliance Partners, Regional resellers and solution partners Global go-to-market reach 30+ countries across NORAM, EMEA, APAC, and LATAM > accenture

  16. Slide 16: Dynatrace Platform Subscription

    te ; ~ * ee: . . <~ Dynatrace Platform Subs Flexible and scalable pricing model suited for th@gnterprise * FULL PLATFORM SIMPLE NO HIDDEN FRICTIONLESS ACCESS CONTRACT FEES UIP'S EVISIE ° - > + Heo, pf ¥ - we — a p . Me - 2 s A > 2: ll , ag . ee . . . ef = oy » *

  17. Slide 17: Building blocks in place for continued success

    Building blocks in place for continued success Q Differentiated unified observability platform Continued innovation extending platform and expanding TAM Large and expanding VA TAM of Proven and scalable go-to-market model Flexible, customer-friendly pricing model driving consumption Powerful combina

  18. Slide 18: Q2 FY 2026 Financial Results

    Q2 FY 2026 Financial Results

  19. Slide 19: Dynatrace financials at a glance

    Dynatrace financials at a glance Uy yy, Q ddjusted for constant currency exc! FCF margin are non-GAAP financial measures. See 17% Q2-26 Subscription Revenue Growth YoY $1.90B 96% Mid-90s % 29% Annual Q2-26 Subscription Gross TTM Q2-26 Recurring Revenue Retention A Non-GAAP Revenue! Mix Rate! Operati

  20. Slide 20: Total ARR growth

    1 2 Total ARR growth QUARTERLY TOTAL ARR ($M)? Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 23% 21% 19% 20% 16% 15% 18% 17% 21% 20% 20% 19% 18% 17% 16% 16% As Reported YoY Growth % Constant Currency YoY Growth %2 Quarterly Total ARR amounts shown in bar graphs are ‘As Reported’ metrics. Constant

  21. Slide 21: Net new ARR growth

    1 2. Net new ARR growt QUARTERLY NET NEW ARR @ CC ($M)? h FY 2024 i FY 2025 FY 2026 Qi a2 a3 a4 Qi a2 a3 a4 a1 a2 (33)% 2% (12)% 1% 23% 3% (3)% (12)% 13% 16% Constant Currency YoY Growth %2 Net New ARR amounts shown in bar graphs represent Total Net New ARR at constant currency. Defined as quarterly

  22. Slide 22: Subscription & total revenue growth

    1 2. Subscription & total revenue growth QUARTERLY REVENUE ($M) $494 BH Total Revenuet $477 1 Subscription Revenue $436 $445 $418 $399 $381 ; ; Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 21% 21% 21% 19% 20% 19% 19% 17% 23% 22% 21% 20% 21% 20% 19% 17% Total Revenue Constant Currency YoY Growth2

  23. Slide 23: Efficient model with best-in-class gross margins

    a Efficient model with best-in-class gross margins? GAAP GROSS PROFIT MARGIN 85% 4 Subscription GM —* ‘Total GM ~ Services GM c — 81% 81% 82% 8% — 4% 3% — FY24 FY25 Q2-26 TTM NON-GAAP GROSS PROFIT MARGIN2 « Subscription GM 88% 87% 87% o —2- a * * Total GM 85% 84% 84% 19% 18% 17% - —e- _ Services GM

  24. Slide 24: Highly efficient operating model

    Highly efficient operating model GAAP OPEX $'S & AS % OF REVENUE ($M) NON-GAAP OPEX $'S & AS % OF REVENUE ($M)? $1,284 $1,014 $1,199 Other OPEX? $938 $1,036 $811 R&D R&D s&M sam G&A G&A FY24 FY25 Q2-26 TTM FY24 FY25 Q2-26 TTM 1. These are non-GAAP financial measures. See the Appendix for reconciliat

  25. Slide 25: Proven profitable business model

    Q Proven profitable business model INCOME FROM OPERATIONS? ($M) FREE CASH FLOW (FCF)!?.2 ($M) 32% 29% FY24 FY25 Q2-26TTM FY24 FY25 Q2-26 TTM MGAAP Operating Income = Non-GAAP Operating Income! ™FreeCashFlow ™ Pre-Tax Free Cash Flow 1. These are non-GAAP financial measures. See the Appendix for recon

  26. Slide 26: FY26 guidance summary

    FY26 guidance summary ° Based on information available as of November 5, 2025, Dynatrace is issuing guidance for the third quarter and updating its previous guidance for full year fiscal 2026 in the table below. This guidance is based on foreign exchange rates as of October 31, 2025. We now expect f

  27. Slide 27: Updated FY26 ARR Guidance vs. Prior

    Updated FY26 ARR Guidance vs. Prior? Annual Recurring Revenue 14%-15%2 13%-14%2 fegscorc $17M Raise : 0 Guidance at Midpoint: (cc) Q Prior ARR Currency Tailwind Guidance Change Updated ARR Guidance Guidance Since Prior Guide at Midpoint (CC) (as reported $) (as reported $) 1) Values have been rounde

  28. Slide 28: Updated FY26 Revenue & Subscription Revenue Guidance vs. Prior

    Updated FY26 Revenue & Subscription Revenue Guidance vs. Prior? Total Revenue Subscription Revenue _-----25%-15.5%? 15%-15.5%2 14%-15%2 [ss] poste 14%-15%2 .:> a : $8MRaise : : $7MRaise : i to Guidance at : : to Guidance at : Midpoint (CC) = Midpoint (CC) : i. : Prior Revenue Currency Tailwind Guida

  29. Slide 29: Updated FY26 Non-GAAP Income from Operations Guidance vs. Prior

    Updated FY26 Non-GAAP Income from Operations 6 Guidance vs. Prior* Non-GAAP Income from Operations? 29% : to Guidance at i : Midpoint Prior NG Op Income Guidance Change Updated NG Op Income Guidance at Midpoint Guidance 1) Values have been rounded and may not add up precisely to the totals. 2) As re

  30. Slide 30: Definitions & Non-GAAP Reconciliations

    Definitions & Non-GAAP Reconciliations

  31. Slide 31: Appendix - Definitions

    Q Appendix - Definitions 1) 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 Total ARR any revenues derived from month-to

  32. Slide 32: ARR expansion trends

    ARR expansion trends? FY24 FY25 FY26 ($ in millions) Q1-24 © Q2-24 «3-24 04-24 Q1-25 Q2-25Q3-25 4-25 Q1-26 92-26 Year-over-Year ARR (As Reported) $1,617 $1,822 Year-over-Year in TTM FX headwind/(tai ARR- Constant Currency Year-over-Year ARR Increase - Constant Currency? Q1-25 Q2-25Q3-25 4-25 Q2-26 T

  33. Slide 33: Non-GAAP subscription and services gross margin reconciliation

    1 Non-GAAP subscription and services gross margin reconciliation! Values ($ in millions) GAAP Based Subscription Gross Profit Subscription 6 Margin Services Cost of Revenue Services Gross Profit Services Gross Margin rounded and may not add up p FY25 Employer Payrolt Tax on Employee Stock trans, Amo

  34. Slide 34: Non-GAAP subscription and services gross margin reconciliation

    1 Q Non-GAAP subscription and services gross margin reconciliation! ded and may not add up prec FY24 Employer Payroll ($ in millions) Tax on Employee Stock trans, Subscription Cost of Revenue Subscription Gr Margin ices C Services Gross Profit Services Gross Margin 34 y to the totals,

  35. Slide 35: Cost of Revenues

    Cost of Revenues Gross Profit Gross Margin Research and Development Sales and Marketing General and Administrative Amortization of other intangibles Income from Operations? Operating Margin the totals,

  36. Slide 36: Non-GAAP income from operations reconciliation

    ded and may not add up precis ($ in millions) GAAP Based Cost of Revenues Gross Profit Gross Margin Research and Development Sales and Marketing General and Administrative Amortization of other intangibles Income from Operations! Operating Margin to the totals, FY24 Employer Payrolt ‘Tax on Employee

  37. Slide 37: FCF reconciliation

    FCF reconciliation Free Cash Flow Net Cash Provided by Operating Activities PP&E Capitalized software additions Total FCF FCF % of Revenue Total FCF Cash paid for tax Total Pre-tax FCF Pre-tax FCF % of Revenue 1. Values have been rounded and may not add up precisely to the totals. Q 37

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