Slide 1: Q3 2026 Investor Presentation
Q3 2026 Investor Presentation February 9, 2026 1
Slide 2: Legal Disclaimer
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 S
Slide 3: Transform complexity into powerful business assets
WHAT WE DO Transform complexity into powerful business assets Dynatrace is the leading AI-powered observability platform
Slide 4: Enterprises are facing unprecedented challenges
Enterprises are facing unprecedented challenges Explosion of Tool Struggle to trust AI complexity fragmentation and see value 4
Slide 5: We help our customers understand their business like never before
THE DYNATRACE DIFFERENCE We help our customers understand their business like never before CONFIDENTIAL 5
Slide 6: So they can drive their business forward
So they can drive their business forward Analyze Analyze every transaction Automate Automate at the speed of AI Innovate faster Innovate without limits 6
Slide 7: The AI-powered observability platform
The AI-powered Integrated platform Unified data observability platform Real-time context Answers, not guesses CONFIDENTIAL 7
Slide 8: The power of Dynatrace
The power of Dynatrace Understand all your Get precise answers from causal, Empower every team in the data in context predictive, and generative AI enterprise to automate 8
Slide 9: Grail: Our game-changing platform architecture
Grail: Our game-changing platform architecture DATA TYPES GRAIL USE CASES DATA LAKEHOUSE Topology Traces Unified storage Unified observability Contextual analytics Metrics Logs Schemaless Behavior Metadata Security Scalable and performant Code Network Cost effective Business analytics Threats 9
Slide 10: Platform evolution to support autonomous operations
Platform evolution to support autonomous operations THE LEADER THE INNOVATOR THE PIONEER THE FUTURE Reactive Automated Preventive Autonomous operations root-cause operations operations Issues are deeply Issues are auto- Issues are anticipated Issues are resolved understood after they diagnosed when
Slide 11: 20+ years of groundbreaking innovation & milestones
20+ years of groundbreaking innovation & milestones Introduces the A Leader in Gartner® industry’s first Magic Quadrant agentic for Observability operations Kubernetes Platforms for 15 system, Security Posture consecutive years Dynatrace Management Intelligence solution launched Davis CoPilot launch
Slide 12: Dynatrace Intelligence
Dynatrace Intelligence Action based on answers, not guesses. Fuses deterministic AI insights with agentic action to deliver reliable outcomes with autonomous prevention, remediation, and optimization at scale CONFIDENTIAL 12
Slide 13: A leader in the cloud observability market since 2005
A leader in the cloud observability market since 2005 Positioned highest in Dynatrace named a Leader Named a Leader in the Dynatrace named a Execution in the 2025 in The Forrester Wave : Cloud-Native Observability Leader and Outperformer Gartner® Magic Quadrant for AIOps Platforms, Q2 2025 Quadrant
Slide 14: The observability and security market segment is large and growing
The observability and security market segment is large and growing $65B TOTAL ADDRESSABLE MARKET $51B SEGMENT $14B OBSERVABILITY SECURITY TAM TAM *$65B estimated TAM includes $51B bottoms-up TAM based on the total number of global enterprises with greater than $1 billion in annual revenue, as identi
Slide 15: Expansive go-to-market to capture global opportunity
Expansive go-to-market STRATEGIC to capture global 15,000 customers ENTERPRISE COMMERCIAL Comprehensive partner channels Global go-to-market reach Global System Integrators (GSIs), Hyperscaler and Technology 30+ countries across NORAM, EMEA, APAC, and LATAM Alliance Partners, Regional resellers and
Slide 16: Dynatrace Platform Subscription (DPS)
Dynatrace Platform Subscription (DPS) Flexible and scalable pricing model suited for the enterprise FULL PLATFORM SIMPLE NO HIDDEN FRICTIONLESS ACCESS CONTRACT FEES UPSELL 16
Slide 17: Building blocks in place for continued success
Building blocks in place for continued success Differentiated unified Continued innovation extending Large and expanding observability platform platform and expanding TAM TAM Proven and scalable Flexible, customer-friendly pricing Powerful combination of growth go-to-market model model driving consu
Slide 18: Q3 FY 2026 Financial Results
Q3 FY 2026 Financial Results
Slide 19: Dynatrace financials at a glance
Dynatrace financials at a glance $1.97B 96% Mid-90s % 29% Annual Q3-26 Subscription Gross TTM Q3-26 Recurring Revenue Retention Non-GAAP Revenue 1 Mix Rate 1 Operating Margin 1,3 16% 16% 111% 30% ARR Q3-26 Subscription Net TTM Q3-26 Growth Revenue Retention Pre-tax YoY2 Growth YoY2 Rate 1 FCF Margin
Slide 20: Total ARR growth
Total ARR growth QUARTERLY TOTAL ARR ($M)1 $1,972 $1,899 $1,822 $1,734 $1,647 $1,617 $1,541 $1,504 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 21% 19% 20% 16% 15% 18% 17% 20% 20% 20% 19% 18% 17% 16% 16% 16% As Reported YoY Growth % Constant Currency YoY Growth %2 1. Quarterly Total ARR amounts s
Slide 21: Net New ARR growth
Net New ARR growth QUARTERLY NET NEW ARR @ CC ($M)1 FY 2024 FY 2025 FY 2026 $84 $74 $75 $70 $68 $70 $59 $61 $51 $46 $37 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 (33)% 2% (12)% 1% 23% 3% (3)% (12)% 13% 16% 11% Constant Currency YoY Growth %2 1. Net New ARR amounts shown in bar graphs represent Total Net New
Slide 22: Subscription & total revenue growth
Subscription & total revenue growth QUARTERLY REVENUE ($M) $515 Total Revenue1 Subscription Revenue $494 $477 $493 $473 $445 $436 $458 $418 $399 $424 $417 $381 $400 $382 $360 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 21% 21% 19% 20% 19% 19% 17% 16% 22% 21% 20% 21% 20% 19% 17% 16% Total Revenue
Slide 23: Efficient model with best-in-class gross margins
Efficient model with best-in-class gross margins1 GAAP GROSS PROFIT MARGIN NON-GAAP GROSS PROFIT MARGIN2 86% 86% 88% 87% 87% 85% Subscription GM Subscription GM Total GM Total GM 85% 84% 84% 81% 81% 82% 19% 18% 17% Services GM 8% 4% 3% Services GM FY24 FY25 Q3-26 TTM FY24 FY25 Q3-26 TTM 1. Our refer
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 $1,325 $1,055 <1% Other OPEX2 $1,199 $938 1% 17% R&D $1,036 23% R&D $811 2% 16% 23% 16% 21% 35% S&M 30% S&M 36% 31% 37% 32% 12% 11% 11% G&A 8% 8% G&A 8% FY24 FY25 Q3-26 TTM FY24 FY25 Q3-26
Slide 25: Proven profitable business model
Proven profitable business model INCOME FROM OPERATIONS2 ($M) F R E E C A S H F L O W ( F C F ) 1,2 ( $ M ) 30% 29% 32% $580 29% $567 $549 24% 30% 25% $494 $463 28% 24% $428 $431 $398 $346 13% 11% $251 9% $179 $128 FY24 FY25 Q3-26 TTM FY24 FY25 Q3-26 TTM GAAP Operating Income Non-GAAP Operating Inco
Slide 26: FY26 guidance summary
FY26 guidance summary Based on information available as of February 9, 2026, Dynatrace is issuing guidance for the fourth quarter and updating its previous guidance for full year fiscal 2026 in the tables below. This guidance is based on the average foreign exchange rates for the month of January 20
Slide 27: Updated FY26 ARR Guidance vs. Prior
Updated FY26 ARR Guidance vs. Prior1 Annual Recurring Revenue 15.5%-16%2 $2,053 $29 - $2,061 14%-15%2 $11 $2,010 - $2,025 $29M Raise to Guidance at Midpoint (CC) Prior ARR Currency Tailwind Guidance Change Updated ARR Guidance Guidance Since Prior Guide at Midpoint (CC) (as reported $) (as reported
Slide 28: Updated FY26 Revenue & Subscription Revenue Guidance vs. Prior
Updated FY26 Revenue & Subscription Revenue Guidance vs. Prior1 Total Revenue Subscription Revenue 16%2 16%2 $15 $2,005 $1,917 - $14 - $3 $2,010 $3 $1,922 15%-15.5%2 15%-15.5%2 $1,985 $1,898 - - $1,995 $1,908 $15M Raise $14M Raise to Guidance at to Guidance at Midpoint (CC) Midpoint (CC) Prior Reven
Slide 29: Updated FY26 Non-GAAP Income from Operations & FCF Guidance vs. Prior
Updated FY26 Non-GAAP Income from Operations & FCF Guidance vs. Prior1 Non-GAAP Income from Operations2 FCF2 29% 26% $582 $13 $520 29% $9 - 26% - $587 $525 $571 $505 - - $581 $515 $9M Raise $13M Raise to Guidance at to Guidance at Midpoint Midpoint Prior NG Op Income Guidance Change Updated NG Op In
Slide 30: Definitions & Non-GAAP Reconciliations
Definitions & Non-GAAP Reconciliations
Slide 31: Appendix - Definitions
Appendix - Definitions 1) Annual Recurring Revenue (ARR) is defined as the daily revenue of all subscription agreements that are actively generating revenue as of the last day of the reporting period multiplied by 365. We exclude from our calculation of Total ARR any revenues derived from month-to-m
Slide 32: ARR expansion trends
ARR expansion trends1 FY24 FY25 FY26 ($ in millions) Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 Year-over-Year ARR (As Reported) $1,294 $1,344 $1,425 $1,504 $1,541 $1,617 $1,647 $1,734 $1,822 $1,899 $1,972 Year-over-Year increase 25% 26% 23% 21% 19% 20% 16% 15% 18% 17% 20% TTM
Slide 33: Non-GAAP subscription and services gross margin reconciliation
Non-GAAP subscription and services gross margin reconciliation1 FY25 Q3-26 TTM Share- Employer Payroll Share- Employer Tax Amort. of Restructuring Payroll Tax Amort. of Restructuring ($ in millions) GAAP Based on Employee Intangibles & Other Non-GAAP GAAP Based on Employee Intangibles & Other Non-GA
Slide 34: Non-GAAP subscription and services gross margin reconciliation
Non-GAAP subscription and services gross margin reconciliation1 FY24 Share- Employer Payroll Amort of Restructuring ($ in millions) GAAP Based Tax on Employee Intangibles & Other Non-GAAP Comp. Stock trans. Subscription Cost of 185 (19) (1) - - 164 Revenue Subscription Gross $1,175 $19 $1 - - $1,195
Slide 35: Non-GAAP income from operations reconciliation
Non-GAAP income from operations reconciliation1 FY25 Q3-26 TTM Stock- Employer Payroll Stock- Employer Tax Amort. of Restructuring Payroll Tax Amort. of Restructuring ($ in millions) GAAP Based on Employee Intangibles & Other Non-GAAP GAAP Based on Employee Intangibles & Other Non-GAAP Comp. Stock t
Slide 36: Non-GAAP income from operations reconciliation
Non-GAAP income from operations reconciliation1 FY24 Stock- Employer Payroll Amort of Restructuring ($ in millions) GAAP Based Tax on Employee Intangibles & Other Non-GAAP Comp. Stock trans. Cost of Revenues 266 (27) (2) (16) - 222 Gross Profit $1,164 $27 $2 $16 - $1,209 Gross Margin 81% 85% Researc
Slide 37: FCF reconciliation
FCF reconciliation1 ($ in millions) FY24 FY25 Q3-26 TTM Free Cash Flow Net Cash Provided by Operating Activities $ 378 $459 $498 PP&E (26) (26) (33) Capitalized software additions (6) (3) (3) Total FCF $ 346 $431 $463 FCF % of Revenue 24% 25% 24% Total FCF $ 346 $431 $463 Cash paid for tax 81 118 11