PTCPTC Inc.

Technology · Software · Nasdaq

PTC is a global software company headquartered in Boston, Massachusetts. 10-K, Item 1

Employees: 7,642
Headquarters: Boston, MA
CEO: Neil Barua
Next results: around Feb 3, 2027

The biggest changes in the 10-K filed 2025-11-21, this fiscal year against the last, and the sentences in the MD&A (Item 7) where management explains them, quoted word for word. Tickdelta picks sentences that name the line, a direction and a cause. It does not write explanations of its own.

Operating margin

25.6% → 35.9% (+10.3 pts) Big change FY to 2025-09-30 vs 2024-09-30

“Operating margin grew by approximately 1030 basis points in FY'25 compared to FY'24, reflecting higher revenue as well as continued operating discipline.”
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“Operating expenses in FY'25 compared to FY'24 increased primarily due to the following:”
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Net income

+95.0% Big change FY to 2025-09-30 vs 2024-09-30

“Other income, net increased in FY'25 compared to FY'24, primarily driven by a $13 million contingent consideration earnout recognized in Q4'25 related to the sale of a portion of our PLM services business in FY'22.”
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“Our effective tax rates for FY'25 and FY'24 were impacted by a number of offsetting items as outlined below, as well as by the year-over-year increase in Income before income taxes, which was primarily domestic; however, there was ultimately no net change in the effective tax rate year-over-year.”
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Gross margin

80.6% → 83.8% (+3.1 pts) Big change FY to 2025-09-30 vs 2024-09-30

“Professional services gross margin decreased in FY’25 compared to FY’24, primarily driven by a sharper decrease in professional services revenue than in professional services expense.”
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Revenue

+19.2% Big change FY to 2025-09-30 vs 2024-09-30

“FY'25 revenue growth reflects the higher total value and longer average duration of contracts that commenced in the current year.”
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“Software revenue growth in FY'25 was driven by license revenue growth, which reflects the higher total value and notably longer average duration of contracts commencing in the current year.”
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Cash from operations

+15.7% Big change FY to 2025-09-30 vs 2024-09-30

The MD&A has no sentence that names a cause for this change. That can be worth a question: ask about the filing.

Changes are computed from the XBRL figures in the same 10-K. Hover a number to see the line item. Open the 10-K ↗

Work on PTC in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/PTC/export.csv") into a cell.