Company: PTC
Filing Date: 2025-11-21
Form Type: 10-K
Source: 0001193125-25-291326
Chunk: 101

Company: PTC INC.
Filing Date: 2025-11-21
Form: 10-K
Item: Item 6
Chunk 101
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 by geographic region.

F-40

The following table presents revenue, significant expenses, and consolidated net income for our reportable segment: 

         (in thousands)
          
         Year ended September 30,

         2025

         2024

         2023

         Revenue
          
         $
         2,739,226

         $
         2,298,472

         $
         2,097,053

         Costs and expenses:

               Cost of revenue, adjusted(1)

         389,465

         384,882

         384,438

               Operating expenses, adjusted(2)

         1,047,636

         1,019,250

         953,720

               Other segment items(3)

         568,128

         518,007

         513,355

         Consolidated net income
          
         $
         733,997

         $
         376,333

         $
         245,540

       (1)Cost of revenue, adjusted excludes stock-based compensation and amortization of acquired intangible assets. (2)Operating expenses, adjusted excludes stock-based compensation, amortization of acquired intangible assets, acquisition and transaction-related charges, and Impairment and other charges (credits), net.(3)Other segment items include stock-based compensation; amortization of acquired intangible assets; acquisition and transaction-related charges; Impairment and other charges (credits), net; Other income (expense), net; and Provision for income taxes.18. Subsequent EventsKepware and ThingWorx DivestitureOn November 5, 2025, we entered into an Asset Purchase Agreement with Parrot US Buyer, L.P., a Delaware limited partnership (“Purchaser”), an entity controlled by investment funds affiliated with TPG Global, LLC. Pursuant to the Asset Purchase Agreement, on the terms and subject to the conditions therein, PTC has agreed to sell, and Purchaser has agreed to acquire, PTC’s Kepware and ThingWorx businesses (collectively, the “Business”), in exchange for total consideration consisting of $600 million in cash (the “Purchase Price”) payable at the closing of the transactions contemplated by the Asset Purchase Agreement, subject to certain adjustments, plus the assumption by Purchaser of certain liabilities of the Business specified in the Asset Purchase Agreement, as well as the right to contingent consideration in an