A two-stage machine tool transmission, in particular a spindle drive transmission, includes a planetary gearset in which a spindle or a spindle insert can be connected to a drive output of a transmission, which has a first drive output shaft and the second drive output shaft, such that the first drive output shaft is connected in a rotationally fixed manner to a drive input shaft and can optionally be connected, via a first shift element, to a sun gear of the planetary gearset. The second drive output shaft is connected in a rotationally fixed manner to a carrier of the planetary gearset. A ring gear of the planetary gearset is connected in a rotationally fixed manner to the transmission housing and a second shift element is provided such that a connection between the spindle or a spindle insert and, optionally, the first or the second drive output shaft, is possible.