Company: PTC
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0000950170-25-015530
Chunk: 13

Company: PTC INC.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 2
Chunk 13
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8

    $
    184.0

    (6
    )%

    (7
    )%

    Support and cloud services

    361.0

    330.5

    9
    %

    8
    %

    Software revenue

    533.7

    514.5

    4
    %

    3
    %

    Professional services

    31.4

    35.7

    (12
    )%

    (13
    )%

    Total revenue
     
    $
    565.1

    $
    550.2

    3
    %

    2
    %

Software revenue growth in Q1'25 compared to Q1'24 was driven by growth in CAD in the Americas.

License revenue decreased in Q1'25, reflecting lower PLM revenue in the Americas and Europe, partially offset by growth in CAD in the Americas. License revenue was impacted primarily by a lower volume and value of large contracts renewing in Q1'25 compared to Q1'24.

Support and cloud services revenue growth in Q1'25 was mainly driven by growth in PLM, particularly in the Americas and Europe.

Professional services revenue decreased in Q1'25 as we continue to execute on our strategy of leveraging partners to deliver services rather than contracting to deliver services ourselves.

Software Revenue by Product Group

    (Dollar amounts in millions)
     
    Three months ended

    Percent Change

    December 31,2024

    December 31,2023

    Actual

    ConstantCurrency

    PLM
     
    $
    323.6

    $
    314.7

    3
    %

    2
    %

    CAD

    210.1

    199.8

    5
    %

    4
    %

    Software revenue
     
    $
    533.7

    $
    514.5

    4
    %

    3
    %

PLM software revenue growth in Q1'25 was driven by revenue growth in Asia Pacific and the Americas.

PLM ARR grew 8% (11% constant currency) from Q1’24 to Q1'25.

CAD software revenue growth in Q1'25 was driven by revenue growth in the Americas. 

CAD ARR grew 5% (9% constant currency) from Q1’24 to