Company: PTC
Filing Date: 2025-11-21
Form Type: 10-K
Source: 0001193125-25-291326
Chunk: 24

Company: PTC INC.
Filing Date: 2025-11-21
Form: 10-K
Item: Item 6
Chunk 24
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aaS offerings, release additional cloud functionality into our products, and migrate customers from on-premises subscriptions to SaaS. Given the different mix, duration and volume of new and renewing contracts in any period, year-over-year or sequential revenue can vary significantly.Revenue by Line of Business 

     (Dollar amounts in millions)
      
     Year ended September 30,

     Percent Change

     2025

     2024

     Actual

     Constant Currency

     License(1)
      
     $
     1,162.7

     $
     806.9

     44
     %

     43
     %

     Support and cloud services(2)

     1,469.2

     1,359.4

     8
     %

     7
     %

     Software revenue

     2,631.9

     2,166.2

     21
     %

     21
     %

     Professional services

     107.3

     132.2

     (19
     )%

     (19
     )%

     Total revenue
      
     $
     2,739.2

     $
     2,298.5

     19
     %

     18
     %
    
    (1)Includes perpetual licenses and the license portion of on-premises subscription sales.(2)Includes support on perpetual licenses, the support portion of on-premises subscription sales, SaaS, and hosting services.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. These large contracts with longer durations additionally drove a $179 million (89%) year-over-year increase in long-term receivables and a $601 million (27%) year-over-year increase in Remaining Performance Obligations (RPO).Support and cloud services revenue growth in FY'25 was mainly driven by growth in PLM.Professional services revenue decreased in FY'25 as we continue to execute on our strategy of leveraging partners to deliver services rather than contracting to deliver services ourselves.

23

Software Revenue by Product Group 

     (Dollar amounts in millions)
      
     Year ended September 30,

     Percent Change

     2025

     2024

     Actual

     Constant Currency

     PLM
      
     $
     1,639.0