Company: PTC
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0000950170-25-015530
Chunk: 17

Company: PTC INC.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 2
Chunk 17
---
 Report on Form 10-K.

21

Recent Accounting Pronouncements

In accordance with recently issued accounting pronouncements, we will be required to comply with certain changes in accounting rules and regulations. Refer to Note 1. Basis of Presentation to the Condensed Consolidated Financial Statements of this Quarterly Report on Form 10-Q, which is incorporated herein by reference, for all recently issued accounting pronouncements, none of which are expected to have a material effect.

Liquidity and Capital Resources

    (in millions)
     
    December 31, 2024

    September 30, 2024

    Cash and cash equivalents
     
    $
    196.3

    $
    265.8

    Restricted cash

    0.6

    0.7

    Total
     
    $
    196.9

    $
    266.5

    (in millions)
     
    Three months ended

    December 31, 2024

    December 31, 2023

    Net cash provided by operating activities
     
    $
    238.4

    $
    187.3

    Net cash provided by (used in) investing activities
     
    $
    25.5

    $
    (105.4
    )

    Net cash used in financing activities
     
    $
    (324.3
    )
     
    $
    (112.0
    )

Cash, Cash Equivalents and Restricted Cash

We invest our cash with highly rated financial institutions. Cash and cash equivalents include highly liquid investments with original maturities of three months or less.

Due to the stability of our subscription model and consistency of annual, up-front billing, we aim to maintain a low cash balance. A significant portion of our cash is generated and held outside the U.S. As of December 31, 2024, we had cash and cash equivalents of $12.7 million in the U.S., $78.7 million in Europe, $88.2 million in Asia Pacific (including India) and $16.7 million in other countries. We have substantial cash requirements in the U.S. but believe that the combination of our existing U.S. cash and cash equivalents, cash available under our revolving credit facility, future U.S. operating cash flows, and our ability to repatriate cash to the U.S. will be sufficient to meet our ongoing U.S. operating expenses and known capital requirements