Company: PTC
Filing Date: 2025-11-21
Form Type: 10-K
Source: 0001193125-25-291326
Chunk: 27

Company: PTC INC.
Filing Date: 2025-11-21
Form: 10-K
Item: Item 6
Chunk 27
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311.9

     $
     1,265.6

     4
     %
    
   Total headcount increased by 2% between September 30, 2024 and September 30, 2025.Operating expenses in FY'25 compared to FY'24 increased primarily due to the following:•a $19 million (2%) increase in total compensation expense (including stock-based compensation), driven by a $17 million increase in severance costs primarily related to our go-to-market realignment (which is mainly included in Sales and marketing) and headcount growth, offset by lower compensation charges in General and administrative due to our FY'24 chief executive officer succession;•$16 million impairment charges recognized in Q2'25 and Q4'25 related to the lease assets associated with the subleased portion of our Boston office; and•a $6 million increase in acquisition and transaction-related costs.Interest Expense 

     (Dollar amounts in millions)
      
     Year ended September 30,

     2025

     2024

     Percent Change

     Interest expense
      
     $
     (77.0
     )
      
     $
     (119.7
     )

     (36
     )%
    
    Interest expense includes interest on our revolving credit facility, term loan, senior notes that were redeemed in Q2'25, and senior notes due in 2028. The decrease in interest expense was driven by lower debt balances and lower interest rates.Other Income 

     (Dollar amounts in millions)
      
     Year ended September 30,

     2025

     2024

     Percent Change

     Interest income
      
     $
     3.4

     $
     4.4

     (22
     )%

     Other income (expense), net

     11.4

     (3.8
     )

     398
     %

     Other income, net
      
     $
     14.8

     $
     0.6

     2,578
     %
    
   Other income, net increased in FY'25 compared to FY'24, primarily driven by a $13 million contingent consideration earnout recognized in Q4'25 related to the sale of a portion of our PLM services business in FY'22. An immaterial adjustment related to foreign currency option contracts entered into in Q4'25 resulted in a $9.3 million decrease in Other income