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.
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 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 Q1 FY2025: ARR grows 11% constant currency, cash flow up >25%
Q1 FY2025 constant currency ARR growth of 11% YoY, in-line with guidance.
ARR grew low double-digits YoY; cash flow from operations grew >20% in FY2024.
Q3 FY2024 ARR grew low double-digits YoY; cash flow growth exceeded 20%.
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 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.
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 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 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 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.
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 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 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