Company: PTC
Filing Date: 2025-11-21
Form Type: 10-K
Source: 0001193125-25-291326
Chunk: 36

Company: PTC INC.
Filing Date: 2025-11-21
Form: 10-K
Item: Item 6
Chunk 36
---
 illustrate underlying trends in our business, and we use the measures to establish budgets and operational goals (communicated internally and externally) for managing our business and evaluating our performance. We believe that providing non-GAAP financial measures also affords investors a view of our operating results that may be more easily compared to the results of other companies in our industry that use similar financial measures to supplement their GAAP results.The items excluded from the non-GAAP financial measures often have a material impact on our financial results, certain of those items are recurring, and other items often recur. Accordingly, the non-GAAP financial measures included in this Annual Report should be considered in addition to, and not as a substitute for or superior to, the comparable measures prepared in accordance with GAAP. The following tables reconcile each of these non-GAAP financial measures to its most closely comparable GAAP measure on our financial statements.

31

     (in millions, except per share amounts)
      
     Year ended September 30,

     2025

     2024

     GAAP gross margin
      
     $
     2,294.2

     $
     1,853.7

     Stock-based compensation

     22.7

     21.4

     Amortization of acquired intangible assets included in cost of revenue

     32.8

     38.5

     Non-GAAP gross margin
      
     $
     2,349.8

     $
     1,913.6

     GAAP operating income
      
     $
     982.4

     $
     588.1

     Stock-based compensation

     216.2

     223.5

     Amortization of acquired intangible assets

     78.8

     80.5

     Acquisition and transaction-related charges

     9.1

     3.1

     Impairment and other charges (credits), net

     15.6

     (0.8
     )

     Non-GAAP operating income
      
     $
     1,302.1

     $
     894.3

     GAAP net income
      
     $
     734.0

     $
     376.3

     Stock-based compensation

     216.2

     223.5

     Amortization of acquired intangible assets

     78.8

     80.5

     Acquisition and transaction-related