Trac Pham
On March 9, 2025, Trac Pham was appointed to the Board of Directors of PTC Inc., effective as of March 17, 2025.
Highest-materiality recent filing
PTC Q3 FY2026: constant currency ARR growth 9.1%, raises FY guidance, $525M buyback
Constant currency ARR growth of 9.1% (ex-divested) exceeded high end of 8-9% guidance range.
PTC beats Q2 FY2026 guidance; constant currency ARR up 8.5%; new $2B buyback
Q2 revenue $774M vs guidance $685-745M; GAAP EPS $4.98 vs $4.09-4.74; non-GAAP EPS $2.69 vs $1.87-2.47.
PTC completes Kepware/ThingWorx sale to TPG for $523M, updates guidance, announces $375M ASR
Closed divestiture of Kepware and ThingWorx to TPG; received $523M cash, net after-tax proceeds ~$375M.
All eight director nominees elected; highest votes for Trac Pham (105.7M for) and James Lico (105.4M for).
PTC Q1'26: CC ARR up 8.4%, revenue $686M (+21% YoY), non-GAAP EPS $1.92
Constant currency ARR up 8.4% YoY; 9.0% excluding Kepware and ThingWorx.
Jennifer DiRico named EVP, CFO effective Jan 1, 2026; comes from Commvault and Toast finance roles.
PTC Q4 revenue $894M (+43% YoY), ARR growth 8.5% cc; divests Kepware and ThingWorx; FY26 guidance
Q4 revenue $894M (+43% YoY), non-GAAP EPS $3.47 vs $1.54; operating cash flow $104M (+6%).
PTC sells ThingWorx & Kepware to TPG affiliate for $600M cash plus up to $125M contingent
$600M base cash purchase price at closing, subject to working capital and other adjustments; up to $125M additional contingent consideration.
PTC appoints James Lico to Board; former Fortive CEO also joins Governance Committee
James Lico appointed to PTC Board of Directors effective Oct 13, 2025; also appointed to Corporate Governance Committee.
PTC beats Q3 guidance; raises FY25 outlook on ARR, FCF, revenue, EPS
Constant currency ARR grew 9.3% YoY to $2,372M, at high end of 8.5%-9.5% guidance.
Constant currency ARR grew 10% YoY; operating cash flow up 12%, free cash flow up 13%.
PTC appoints Trac Pham to Board of Directors, effective March 17, 2025
Trac Pham appointed to PTC Board and Audit Committee, effective March 17, 2025.
PTC shareholders elect all eight directors at Feb 12 annual meeting
Directors elected with 86-95% of votes cast; Barua, Benjamin, Bernshteyn, Chaffin, Hanspal, Katz, Lacy, Lathan.
PTC Q1 FY2025: ARR grows 11% constant currency, cash flow up >25%
Q1 FY2025 constant currency ARR growth of 11% YoY, in-line with guidance.
PTC director Janesh Moorjani resigns from board effective Nov 29, 2024
Janesh Moorjani resigned from PTC's board on Nov 25, 2024; effective Nov 29, 2024.
ARR grew low double-digits YoY; cash flow from operations grew >20% in FY2024.
PTC amends credit agreement; springing maturity condition tied to $600M liquidity threshold
Amendment No. 1 to Credit Agreement executed Oct 1, 2024, modifying Springing Maturity Date definition.
PTC appoints CEO Neil Barua as President; COO Michael DiTullio to depart Sept 30
Neil Barua, existing CEO, added President role effective Oct 1, 2024.
PTC appoints Robert Bernshteyn to Board of Directors effective Sept 9, 2024
Bernshteyn, former CEO & Chair of Coupa Software (2009-2023) and current GP at ICONIQ Capital, joins PTC board.
Q3 FY2024 ARR grew low double-digits YoY; cash flow growth exceeded 20%.
PTC President & COO DiTullio to step down, become strategic advisor through June 2025
Michael DiTullio's last day as President/COO is Sept 30, 2024; then advisory role Oct 1, 2024 to June 30, 2025.
PTC updates mid-term ARR target to low double-digit growth, reaffirms cash flow targets
CEO Neil Barua reports consistent ARR and free cash flow growth in Q2 fiscal 2024.
PTC appoints Neil Barua as CEO succeeding James Heppelmann; Alice Christenson named CAO
Neil Barua appointed CEO effective Feb 14, 2024, succeeding James Heppelmann as part of board's succession plan.
PTC reports Q1 fiscal 2024 results; press release truncated, no financial details provided
PTC announced Q1 FY2024 results for period ended Dec 31, 2023 via 8-K filed Jan 31, 2024.
PTC reports Q4 ARR growth of 26%, FY23 operating cash flow up 40% to $611M
ARR growth 26% YoY; organic ARR growth 15%; organic constant currency ARR growth 13%.
Rockwell Automation sells 5.83M PTC shares in $820M secondary offering at $140.67/share
Rockwell Automation US Holdings sold 5,830,905 shares of PTC common stock via underwritten offering.
Director Blake Moret resigns from PTC board after Rockwell ownership falls below 5%
Blake Moret resigned effective Aug. 1, 2023, triggered by Rockwell's ownership dropping below 5% of PTC shares.
PTC Q3 FY23: ARR grows 25%, cash from ops up 45%, raises FY23 guidance
ARR growth 25% (organic 14%, ServiceMax +11%) on reported and constant currency basis.
PTC appoints Neil Barua CEO-elect, effective Feb 2024; Heppelmann becomes Chairman
Neil Barua, formerly President of SLM Business Unit, named CEO-elect; will succeed James Heppelmann after Feb 14, 2024 annual meeting.
PTC appoints Janesh Moorjani (Elastic CFO/COO) to Board, effective June 7, 2023
Moorjani, 50, currently CFO and COO of Elastic N.V., joins PTC board and Audit Committee.
PTC Q2 FY2023: ARR growth 23%, cash from ops $211M (+48% YoY); guidance raised
ARR growth of 23% (organic 11%, organic constant currency 13%); ServiceMax/Codebeamer added 13 points to constant currency growth.
James Heppelmann remains CEO; Michael DiTullio promoted to President and COO, effective Feb 16, 2023.
PTC appoints Amar Hanspal to Nominating and Cybersecurity Committees
Amar Hanspal, appointed to PTC Board effective April 2022, now added to Nominating and Cybersecurity Committees.
PTC Q1 FY2023 beats ARR and cash flow guidance; raises FY cash flow guidance
ARR growth 11% YoY; organic ARR growth 10%; organic constant currency ARR growth 14%.
PTC amends 8-K to disclose Michal Katz's appointment to Audit Committee on Jan 12, 2023
Michal Katz appointed to PTC Board's Audit Committee effective January 12, 2023.
PTC completes $1.485B acquisition of ServiceMax; enters new $1.75B credit facility
Completed acquisition of ServiceMax, Inc. on Jan 3, 2023 for total consideration of $1.485 billion, with $835M paid at closing.
PTC acquires ServiceMax for $1.458 billion in cash, payable in two installments
Total consideration $1.458B: $808M at close, $650M due Oct 2, 2023, subject to adjustments.
PTC Q4 ARR +7% (+16% cc); FY22 free cash flow +21% to $416M
Q4'22 ARR $1,572M, up 7% YoY; constant currency ARR up 16% to $1,706M; organic constant currency up 15%.
PTC Q3 FY2022: ARR up 15% organic constant currency; raises full-year guidance
ARR $1,544M (+9% reported); organic constant currency ARR +15% to $1,610M, above guidance.
Michael DiTullio assumed role of President, Digital Thread Business on May 23, 2022.
PTC completes $284M acquisition of Intland Software
Total consideration approximately $284 million after closing adjustments.
PTC Q2'22 ARR $1.564B (constant currency +13% YoY); raises FY'22 guidance
Constant currency ARR of $1.564B, up 13% YoY, above guidance; includes $4M Russia reduction.
PTC acquires Intland Software for ~$280M cash to add Codebeamer ALM product suite
Cash purchase price of ~$280M, adjusted for cash, net debt, and working capital.
PTC appoints Amar Hanspal to board of directors effective April 1, 2022
Amar Hanspal, 58, former Bright Machines CEO and Autodesk co-CEO appointed to PTC board.
PTC shareholders elect all eight director nominees and approve say-on-pay at 2022 annual meeting
All eight directors elected with over 85M votes for each; no nominee received less than 85,850,129 votes.
PTC Q1 FY2022: ARR up 16% CC to $1.51B; raises low end of FY22 ARR guidance
Constant currency ARR $1.507B (+16% YoY), above guidance of $1.50B; organic CC growth 11%.
PTC Q1 FY2022 ARR up 16% cc; raises FY22 ARR guidance low end
ARR $1,496M (cc $1,507M), up 16% cc YoY, above guidance of $1,500M; organic cc growth 11%.
PTC appoints Michal Katz to Board of Directors effective Feb. 8, 2022
Michal Katz appointed to PTC's board, effective February 8, 2022.
PTC Q4/FY21 revenue up 23% YoY, ARR $1.47B; restructuring charge $45-50M
ARR $1.47B, +16% YoY; organic ARR growth 11% (12% constant currency).
PTC Q3 FY2021 ARR $1.42B (+18% YoY), Revenue $436M (+24% YoY)
ARR of $1.42B, up 18% YoY (15% constant currency); organic ARR growth 14% (11% constant currency).
On March 9, 2025, Trac Pham was appointed to the Board of Directors of PTC Inc., effective as of March 17, 2025.
On November 25, 2024, Janesh Moorjani resigned from the Board of Directors of PTC Inc.
appointed Neil Barua, the Company’s existing Chief Executive Officer, to the dual positions of President and Chief Executive Officer of the Company effective as of October 1, 2024.
This appointment takes effect following the conclusion of Michael DiTullio’s tenure as President and Chief Operating Officer of the Company on September 30, 2024.
On August 27, 2024, Robert Bernshteyn was appointed to the Board of Directors of PTC Inc., effective as of September 9, 2024.
On July 14, 2024, it was agreed that Michael DiTullio, who has served as President and Chief Operating Officer of PTC since February 2023, will, in culmination of the successful CEO succession process, transition from that role to that of strategic advisor to the Chief Executive Officer, with his last day of service as President and Chief Operating Officer being September 30, 2024.
On February 14, 2024, the Board of Directors of PTC Inc. (“PTC” or the “Company”) appointed Neil Barua, the Company’s CEO-Elect, Chief Executive Officer of the Company.
On February 14, 2024, Alice Christenson, Corporate Vice President, Finance, age 59, was appointed Chief Accounting Officer (principal accounting officer) of the Company.
Mr. Barua succeeds James Heppelmann who, as part of the Board of Directors’ CEO succession plan, stepped down from his role as Chief Executive Officer on such date.
On August 1, 2023, PTC’s Board of Directors accepted the resignation of director Blake Moret, which resignation was submitted pursuant to the terms of the Share Purchase Agreement between PTC Inc. and Rockwell Automation Inc. dated as of June 11, 2018, as amended on May 11, 2021, after Rockwell’s ownership of PTC shares fell below 5% of PTC’s outstanding shares.
Mr. Barua will replace James Heppelmann who, as part of the Board of Directors’ CEO succession plan, will step down from his role as Chief Executive Officer on the Effective Date.
On July 26, 2023, PTC Inc. (“PTC” or the “Company”) announced that Neil Barua will be appointed Chief Executive Officer of PTC effective as of the close of PTC’s 2024 Annual Meeting of Stockholders, which is expected to be held on February 14, 2024 (the “Effective Date”).
Max materiality 0.85 · Median 0.68 · Most common event earnings