Filing Flows › PTC (PTC) › Q4 FY25
PTC (PTC) Q4 FY25 earnings results (fourth quarter fiscal 2025)
10-K filed Nov 21, 2025
PTC (PTC) reported revenue of $894M for the fourth quarter fiscal 2025 (Q4 FY25), +43% from a year earlier and +39% from the quarter before. Operating margin was 48.5%, net earnings $348M (38.9% of revenue).
PTC, Q4 FY25: revenue $894M (+43% year over year), operating margin 48.5%, net earnings $348M, operating cash flow $104M. The chart follows the revenue to costs, profit and cash.
| Q4 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $894M | +39% | +43% |
| Gross profit | $777M | +46% | +51% |
| Operating profit | $434M | +107% | +124% |
| Net earnings | $348M | +146% | +175% |
| Operating cash flow | $104M | -57% | +6% |
| Free cash flow | $100M | — | +7% |
What changed
Revenue was $893.8M in Q4 FY25, up 43% year over year and up 39% from the previous quarter. Product Lifecycle Management was the largest line at 66% of revenue.
Gross margin was 86.9%, up 4.9 points from a year earlier. Operating profit was $433.6M, a 48.5% margin (up 17.5 points year over year). Of the extra revenue versus a year earlier, 90% reached operating profit, above the 31% margin then. Operating expenses grew 7% against revenue growth of 43%. The fastest-growing cost line was Other operating costs (+118%). Net earnings were $347.8M, up 175% year over year. The effective tax rate was 18.8%.
Operating cash flow was $104.0M (up 6% year over year), 30% of net earnings. Non-cash charges added back $25.7M of depreciation and amortization and $54.8M of share-based compensation. Working capital and other items used $324.3M. After capital expenditures ($3.5M), free cash flow as the company reports it was $100.5M.
Questions
What was PTC's revenue in the fourth quarter fiscal 2025?
PTC (PTC) reported revenue of $894M for the fourth quarter fiscal 2025 (Q4 FY25), +43% from a year earlier and +39% from the quarter before.
Was PTC profitable in the fourth quarter fiscal 2025?
Operating profit was $434M (48.5% of revenue) and net earnings $348M.
Source: PTC 10-K on SEC EDGAR.