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PTC 8-K Report, Exhibit Filing (Apr 30, 2025)

Reports
Exhibits & Filings
Filing Date
Filed April 30, 2025
Period End
April 30, 2025
Security
PTC
In the record · 2016–202610-K1010-Q338-K130

PTC filed 10 annual reports (10-K), 33 quarterly reports (10-Q) and 130 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Jan ’19Jan ’19
  2. Leadership change8-K · Jan ’21Jan ’21
  3. Deal closed8-K · Jan ’23Jan ’23
  4. Material agreement8-K · Oct ’26Oct ’26

01—Abstract

Summary

Summary of the 8-K filed April 30, 2025. Cited figures are marked; the original filing is the authoritative source.

PTC Inc. reported results for its fiscal second quarter ended March 31, 2025, in a press release furnished as Exhibit 99.1 to this Form 8-K dated April 30, 2025.

Total revenue was $636.4 milliona, up 6% year over year (8% on a constant currency basis, per the filing). Annual Run Rate (ARR) reached $2,290 million, up 10% from $2,088 million. Operating cash flow was $281.3 million, up 12%, and free cash flow was $278.5 million, up 13%.

GAAP net income was $162.6 millionb, with GAAP diluted EPS of $1.35 versus $0.95 a year earlier (42% growth). Non-GAAP diluted EPS was $1.79 versus $1.46 (23% growth). Management said results exceeded guidance across all metrics.

PTC updated its fiscal 2025 guidance. Constant currency ARR growth is now expected at 7% to 9%, down from 9% to 10%. Revenue guidance is $2,445 million to $2,565 millionc, compared with the prior $2,430 million to $2,530 million.

Free cash flow guidance is $840 million to $850 milliond, and GAAP EPS guidance is $3.78 to $4.73. Management attributed the changes to first-half results and the potential for elevated macroeconomic uncertainty in the second half. For the third quarter, the company guided to revenue of $560 million to $600 million and non-GAAP EPS of $1.05 to $1.30.

On capital allocation, PTC repurchased $75 million of stock in Q2 and $150 million in the first half of fiscal 2025, and it expects to repurchase approximately $300 million for the full year, including about $75 million in each of the remaining two quarters. The filing references a $2 billion repurchase authorization.

PTC retired $500 million of senior notes due in Q2. Gross debt fell to $1,393 million from $2,011 million a year earlier, and cash and cash equivalents were $235 million.

02—Key points

Key Highlights

  1. Q2 fiscal 2025 revenue of $636.4 million, up 6% year over year (8% constant currency), with ARR of $2,290 million, up 10%.
  2. Operating cash flow of $281.3 million (up 12%) and free cash flow of $278.5 million (up 13%), both ahead of company guidance of about $274 million and about $270 million.
  3. GAAP diluted EPS of $1.35 versus $0.95 and non-GAAP diluted EPS of $1.79 versus $1.46 in the prior-year quarter.
  4. Fiscal 2025 revenue guidance raised to $2,445 million to $2,565 million from $2,430 million to $2,530 million; constant currency ARR growth guidance lowered to 7% to 9% from 9% to 10%.
  5. Fiscal 2025 free cash flow guidance narrowed to $840 million to $850 million, from $835 million to $850 million, and GAAP EPS guidance raised to $3.78 to $4.73.
  6. Share repurchases of $75 million in Q2 and $150 million in the first half, with about $300 million planned for fiscal 2025 under the $2 billion authorization.
  7. Gross debt reduced to $1,393 million from $2,011 million year over year after retiring $500 million of senior notes due in Q2.

03—Questions

Frequently Asked Questions

  1. How did PTC perform in fiscal Q2 2025?

    PTC reported revenue of $636.4 million, up 6% year over year (8% constant currency). ARR grew 10% to $2,290 million, operating cash flow rose 12% to $281.3 million, and free cash flow rose 13% to $278.5 million. The company said it exceeded guidance across all metrics.

  2. What changed in PTC's fiscal 2025 guidance?

    Revenue guidance rose to $2,445 million to $2,565 million from $2,430 million to $2,530 million. Constant currency ARR growth guidance fell to 7% to 9% from 9% to 10%. Free cash flow guidance is $840 million to $850 million, and GAAP EPS guidance is $3.78 to $4.73. Management cited potential elevated macroeconomic uncertainty in the second half.

  3. What is PTC's capital return plan?

    PTC repurchased $75 million of stock in Q2 and $150 million in the first half of fiscal 2025. It intends to repurchase approximately $300 million for the full year, with about $75 million in each of the two remaining quarters, under a $2 billion authorization.

  4. How is PTC's balance sheet positioned?

    Gross debt was $1,393 million at March 31, 2025, down from $2,011 million a year earlier, after the company retired $500 million of senior notes due in Q2. Cash and cash equivalents were $235 million.

  5. What did PTC say about its outlook for the third quarter?

    For Q3 fiscal 2025, PTC guided to revenue of $560 million to $600 million, operating cash flow of $234 million to $239 million, free cash flow of $230 million to $235 million, and non-GAAP EPS of $1.05 to $1.30.

04—Continue

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