Company: PTC
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0000950170-25-015530
Chunk: 18

Company: PTC INC.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 2
Chunk 18
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Cash Provided by Operating Activities

Cash provided by operating activities increased $51.1 million in Q1'25 compared to Q1'24. Growth was driven by higher collections as well as lower vendor disbursements and interest payments, partially offset by higher tax payments and payments related to our go-to-market realignment. Interest payments were $29.4 million lower in Q1'25 compared to Q1'24 due to the Q1'24 payment of $30.0 million of imputed interest on a deferred acquisition payment associated with our FY'23 acquisition of ServiceMax.

Cash Provided by (Used in) Investing Activities

Cash provided by investing activities in Q1'25 was driven by inflows from the settlement of net investment hedges. Cash used in investing activities in Q1'24 was driven by the acquisition of pure-systems for $93.5 million.

Cash Used in Financing Activities

Cash used in financing activities in Q1'25 included net payments of $205.1 million on our credit facility and $75.0 million of repurchases of common stock. Cash used in financing activities in Q1'24 included $620.0 million paid to settle the ServiceMax deferred acquisition payment, partially offset by net borrowings of $558.4 million to fund the ServiceMax deferred acquisition payment and the pure-systems acquisition.

22

Outstanding Debt

    (in millions)
     
    December 31, 2024

    September 30, 2024

    4.000% Senior notes due 2028
     
    $
    500.0

    $
    500.0

    3.625% Senior notes due 2025

    500.0

    500.0

    Credit facility revolver line

    60.0

    262.0

    Credit facility term loan

    487.5

    490.6

    Total debt
     
    $
    1,547.5

    $
    1,752.6

    Unamortized debt issuance costs for the senior notes

    (3.5
    )

    (4.1
    )

    Total debt, net of issuance costs
     
    $
    1,544.0

    $
    1,748.6

    Undrawn under credit facility revolver
     
    $
    1,190.0

    $
    988.0