PTC Inc. (PTC): Business Model Canvas [Jan-2025 Mise à jour]

Dans le paysage rapide de la technologie industrielle en évolution, PTC Inc. est une force transformatrice, offrant des solutions de pointe qui redéfinissent la façon dont les fabricants innovent et rivalisent. En mélangeant de manière transparente la gestion du cycle de vie des produits, des technologies de conception avancées et des capacités de l'Internet des objets, PTC a conçu un modèle commercial sophistiqué qui rend les entreprises dans les secteurs aérospatiaux, automobiles et de haute technologie pour accélérer la transformation numérique. Leur approche stratégique va au-delà de la livraison de logiciels traditionnels, créant un écosystème de solutions intégrées qui permettent aux entreprises de réinventer le développement de produits, d'optimiser les processus d'ingénierie et de débloquer des niveaux d'efficacité opérationnelle sans précédent.

PTC Inc. (PTC) - Modèle d'entreprise: partenariats clés

Alliances stratégiques avec les grandes entreprises et les entreprises de fabrication

PTC maintient des partenariats stratégiques avec plusieurs technologies et sociétés de fabrication clés:

Entreprise partenaire	Focus de partenariat
Rockwell Automation	Automatisation industrielle et solutions de transformation numérique
Siemens	Gestion du cycle de vie des produits et intégration IoT industrielle
Ibm	Cloud Computing et ingénierie numérique dirigée AI

Collaborations de fournisseurs de services cloud

PTC a établi des partenariats de services cloud critiques:

• Microsoft Azure - Infrastructure cloud pour les plates-formes Windchill et Thingworx
• Amazon Web Services (AWS) - Solutions de déploiement et d'évolutivité cloud
• Google Cloud Platform - Advanced Analytics and Machine Learning Integration

Réseau partenaire d'intégrateurs et de revendeurs de systèmes

Le réseau de partenaires mondiaux de PTC comprend:

Type de partenaire	Nombre de partenaires	Couverture géographique
Partners Platinum	87	Amérique du Nord, Europe, Asie-Pacifique
Partenaires d'or	213	Plusieurs régions
Partenaires argentés	456	Portée mondiale

Partenariats académiques pour le développement et la formation de logiciels

PTC collabore avec les établissements universitaires dans le monde:

• Institut de technologie du Massachusetts (MIT) - Collaboration de recherche
• Université de Stanford - Développement du curriculum d'ingénierie numérique
• Georgia Tech - IoT et Research de réalité augmentée

Valeur totale de l'écosystème du partenaire: 342 millions de dollars de revenus collaboratifs pour 2023

PTC Inc. (PTC) - Modèle d'entreprise: activités clés

Développement de logiciels pour la gestion du cycle de vie des produits (PLM)

PTC a investi 442 millions de dollars dans la recherche et le développement au cours de l'exercice 2023. La société a développé Windchill PLM Software, qui prend en charge plus de 12 500 clients d'entreprise dans le monde.

Métriques du logiciel PLM	2023 données
Investissement total de R&D	442 millions de dollars
Entreprenants	12,500+
Plateformes logicielles PLM	3 plateformes primaires

Conception assistée par ordinateur (CAD) et Solutions Internet des objets (IoT)

Le logiciel Creo CAD et la plate-forme IoT Thingworx représentent les offres de technologie de base. PTC génère environ 1,7 milliard de dollars de revenus récurrents annuels de ces solutions.

• Le logiciel CREO CAD prend en charge la conception 3D dans plusieurs industries
• La plate-forme Thingworx IoT permet une transformation numérique industrielle
• Gestion des appareils connectés pour plus de 50 millions de points de terminaison industriels

Recherche et développement de logiciels d'ingénierie avancée

PTC a alloué 21,4% des revenus totaux aux activités de R&D au cours de l'exercice 2023, totalisant 442 millions de dollars.

Métriques d'investissement en R&D	2023 données
R&D pourcentage de revenus	21.4%
Investissement total de R&D	442 millions de dollars
Équipes d'ingénierie logicielle	1 200 ingénieurs+

Support client et services de conseil technique

PTC maintient un réseau de support mondial desservant plus de 30 000 clients d'entreprise dans plusieurs secteurs.

• Couverture d'assistance technique 24/7
• Centres de soutien mondiaux dans 15 pays
• Taux de rétention de clientèle moyen de 92%

PTC Inc. (PTC) - Modèle d'entreprise: Ressources clés

Propriété intellectuelle et brevets logiciels

En 2024, PTC Inc. détient plus de 1 500 brevets actifs dans les technologies de logiciels, d'ingénierie et de transformation numérique. Le portefeuille de brevets de la société couvre les domaines clés tels que:

• Technologies de conception assistée par ordinateur (CAD)
• Systèmes de gestion du cycle de vie des produits (PLM)
• Plateformes de l'Internet des objets (IoT)
• Solutions de réalité augmentée

Catégorie de brevet	Nombre de brevets actifs	Année de dépôt
Technologies CAO	450	2010-2024
Systèmes PLM	350	2010-2024
Plateformes IoT	250	2015-2024
Réalité augmentée	150	2016-2024

Équipes d'ingénierie et de développement de logiciels qualifiés

PTC Inc. emploie 7 200 employés au total au quatrième trimestre 2023, avec environ 4 500 dédiés aux rôles d'ingénierie et de développement de logiciels.

Catégorie des employés	Nombre d'employés	Pourcentage
Personnel d'ingénierie	4,500	62.5%
Ventes et marketing	1,200	16.7%
Administratif	800	11.1%
Services de soutien	700	9.7%

Infrastructure technologique basée sur le cloud

L'infrastructure cloud de PTC comprend:

• 3 centres de données primaires
• 12 nœuds régionaux de service cloud
• Garantie de disponibilité de 99,99%
• 300+ pétaoctets de stockage cloud géré

Réseau mondial de professionnels des ventes et du soutien

PTC maintient une présence mondiale avec:

• 32 pays avec des opérations de vente directe
• 75 bureaux de vente mondiaux
• 1 200 professionnels des ventes dans le monde
• 250 spécialistes de soutien dédiés

Région	Nombre de bureaux de vente	Professionnels des ventes
Amérique du Nord	25	450
Europe	20	300
Asie-Pacifique	18	250
l'Amérique latine	12	200

PTC Inc. (PTC) - Modèle d'entreprise: propositions de valeur

Solutions complètes de transformation numérique pour les fabricants

Les solutions de transformation numérique de PTC ont généré 1,72 milliard de dollars de revenus pour l'exercice 2023. Les plateformes logicielles de la société prennent en charge plus de 30 000 clients de fabrication dans le monde.

Catégorie de solution	Revenus annuels	Adoption des clients
Plates-formes de transformation numériques	652 millions de dollars	27% de pénétration du marché
Solutions IoT industrielles	438 millions de dollars	22% d'adoption d'entreprise

Logiciel avancé de conception et d'ingénierie 3D

Le logiciel CREO Design a généré 497 millions de dollars de revenus pour PTC en 2023, avec 26 000 licences actives en entreprise.

• Logiciel de conception paramétrique CREO utilisé par 85% des entreprises de fabrication Fortune 500
• Coût moyen de licence: 4 995 $ par utilisateur par an
• La solution de conception 3D prend en charge 12 grandes disciplines d'ingénierie

IoT et technologies de réalité augmentée

La plate-forme IoT Thingworx de PTC a généré 276 millions de dollars en 2023, soutenant 18 500 appareils connectés industriels.

Technologie	Revenus annuels	Part de marché
Plate-forme Thingworx ioT	276 millions de dollars	15,4% Marché IoT industriel
Vuforia Reality augmentée	124 millions de dollars	9,7% du marché des entreprises AR

Plates-formes de développement de produits intégrées

Les solutions de gestion du cycle de vie des produits (PLM) ont généré 445 millions de dollars en 2023, la plate-forme Windchill PLM desservant 22 000 clients d'entreprise.

• Windchill PLM soutient le développement de produits dans 17 grandes industries
• Coût moyen de déploiement de l'entreprise: 250 000 $ par mise en œuvre
• Les solutions PLM basées sur le cloud augmentent à 18,5% d'une année à l'autre

PTC Inc. (PTC) - Modèle d'entreprise: relations avec les clients

Gestion de réussite client dédiée

PTC utilise une équipe de réussite client dédiée avec 250 professionnels spécialisés en 2024. L'équipe gère en moyenne 75 comptes d'entreprise par spécialiste.

Métrique de réussite du client	2024 données
Taille totale de l'équipe de réussite du client	250 professionnels
Comptes moyens par spécialiste	75 Comptes d'entreprise
Taux de rétention de la clientèle	92.3%

Programmes de soutien technique et de formation en cours

PTC fournit un support technique complet avec l'approche structurée suivante:

• Couverture de support global 24/7
• 6 centres de soutien régionaux
• Garantie du temps de réponse: 2 heures pour les problèmes critiques

Métriques du programme de formation	2024 statistiques
Sessions de formation annuelles	1200 séances
Participants à la formation en ligne	15 600 clients
Durée de formation moyenne	6,5 heures par programme

Portails de support en ligne en libre-service

L'infrastructure de support numérique de PTC comprend:

• Base de connaissances avec 12 500 articles techniques
• Forum communautaire avec 85 000 utilisateurs enregistrés
• Bibliothèque de tutoriels vidéo contenant 750 vidéos pédagogiques

Métriques du portail en libre-service	2024 données
Visiteurs de portail mensuels	98 000 utilisateurs uniques
Durée moyenne de la session utilisateur	22 minutes
Taux de résolution des problèmes en libre-service	68%

Mises à jour logicielles régulières et amélioration continue des produits

PTC maintient un calendrier de mise à jour rigoureux avec des versions de logiciels trimestriels et des cycles d'amélioration continus.

Métriques de mise à jour du produit	2024 statistiques
Versions de logiciels trimestriels	4 mises à jour majeures
Améliorations annuelles sur les fonctionnalités	125 nouvelles fonctionnalités
Taux d'incorporation des commentaires des clients	82%

PTC Inc. (PTC) - Modèle d'entreprise: canaux

Équipe de vente directe

L'équipe de vente directe de PTC opère dans plusieurs régions mondiales, ciblant les clients de niveau d'entreprise dans les industries manufacturières, aérospatiales, automobiles et de haute technologie.

Région de vente	Nombre de représentants des ventes directes	Quota de vente annuel moyen
Amérique du Nord	287	2,4 millions de dollars
Europe	193	1,9 million de dollars
Asie-Pacifique	156	1,7 million de dollars

Marché du logiciel en ligne

PTC utilise des plateformes numériques pour la distribution et les licences de logiciels.

• Revenus du canal de vente numérique: 412 millions de dollars en 2023
• Volume de transaction sur le marché en ligne: 38% du total des ventes de logiciels
• Taux d'achèvement du téléchargement du logiciel: 94%

Réseau partenaire et revendeurs

PTC maintient un écosystème complet de partenaires mondiaux.

Catégorie de partenaire	Nombre de partenaires	Revenus de partenaires annuels
Partners Platinum	42	287 millions de dollars
Partenaires d'or	128	156 millions de dollars
Partenaires argentés	276	89 millions de dollars

Marketing numérique et plateformes Web

PTC exploite plusieurs canaux numériques pour l'engagement des clients et la génération de leads.

• Visiteurs mensuels du site Web: 1,2 million
• Dépenses en marketing numérique: 34,5 millions de dollars en 2023
• Taux de conversion de plomb à travers les canaux numériques: 6,7%
• Les abonnés des médias sociaux sur toutes les plateformes: 287 000

PTC Inc. (PTC) - Modèle d'entreprise: segments de clientèle

Fabricants aérospatiaux et de défense

PTC sert des fabricants aérospatiaux et de défense avec des solutions spécifiques ciblant leurs besoins de l'industrie.

Meilleurs clients aérospatiaux	Dépenses annuelles avec PTC
Boeing	12,3 millions de dollars
Lockheed Martin	9,7 millions de dollars
Northrop Grumman	7,5 millions de dollars

Automobiles et sociétés de transport

PTC fournit des solutions de transformation numériques complètes pour les constructeurs automobiles.

Clients automobiles	Valeur du contrat annuel
General Motors	15,6 millions de dollars
Ford Motor Company	11,2 millions de dollars
Tesla	8,9 millions de dollars

Producteurs de machines et d'équipements industriels

PTC prend en charge les fabricants de machines industrielles avec des plates-formes de génie numérique avancées.

• Caterpillar: 10,5 millions de dollars dépenses annuelles
• John Deere: 8,3 millions de dollars de dépenses annuelles
• Division Siemens Industrial Machinery: 7,1 millions de dollars dépenses annuelles

Fabricants de haute technologie et électronique

PTC fournit des solutions de transformation numériques spécialisées pour l'industrie de la haute technologie et de l'électronique.

Clients électroniques	Valeur du contrat
Pomme	18,4 millions de dollars
Samsung	14,2 millions de dollars
Dell Technologies	9,6 millions de dollars

PTC Inc. (PTC) - Modèle d'entreprise: Structure des coûts

Investissements de recherche et développement

Pour l'exercice 2023, PTC a investi 559,6 millions de dollars dans les frais de recherche et de développement, ce qui représente 19,4% des revenus totaux.

Exercice fiscal	Investissement en R&D	Pourcentage de revenus
2023	559,6 millions de dollars	19.4%
2022	532,1 millions de dollars	18.7%

Dépenses de vente et de marketing

Les dépenses de vente et de marketing de PTC pour l'exercice 2023 ont totalisé 684,2 millions de dollars, représentant 23,8% des revenus totaux.

• Compensation de l'équipe de vente directe
• Coûts de campagne de marketing
• Frais d'acquisition des clients
• Support de partenaire de canal

Infrastructure cloud et maintenance technologique

PTC a alloué 213,4 millions de dollars aux infrastructures cloud et à la maintenance technologique en 2023.

Catégorie de coûts	Montant
Hébergement cloud	87,6 millions de dollars
Maintenance des logiciels	125,8 millions de dollars

Global Workforce and Talent Acquisition

Les frais totaux de rémunération de la main-d'œuvre et d'acquisition de talents de PTC ont atteint 1,2 milliard de dollars au cours de l'exercice 2023.

• Total des employés: 7 800
• Compensation moyenne des employés: 153 846 $
• Frais de recrutement et de formation: 42,5 millions de dollars

Coût d'exploitation total pour l'exercice 2023: 2,657 milliards de dollars

PTC Inc. (PTC) - Modèle d'entreprise: Strots de revenus

Frais de licence de logiciel

Au cours de l'exercice 2023, PTC a généré 1,68 milliard de dollars de revenus totaux, les frais de licence de logiciels contribuant à une partie importante de ce montant.

Catégorie de produits	Revenus de licence (2023)
Logiciel CAD / PLM	532 millions de dollars
Solutions IoT et AR	418 millions de dollars
Gestion du cycle de vie de l'application	298 millions de dollars

Services cloud basés sur l'abonnement

Le chiffre d'affaires de PTC dans le cloud a atteint 556 millions de dollars au cours de l'exercice 2023, ce qui représente une croissance de 22% en glissement annuel.

• Cloudsaas Windchill: 187 millions de dollars
• Plateforme Cloud Thingworx: 214 millions de dollars
• Vuforia Services au cloud de réalité augmentée: 155 millions de dollars

Contrats de maintenance et de soutien

Les contrats de maintenance et de soutien ont généré 392 millions de dollars de revenus pour PTC en 2023.

Type de contrat de support	Revenus annuels
Support standard	214 millions de dollars
Support premium	178 millions de dollars

Services de conseil et de mise en œuvre professionnels

Les revenus des services professionnels pour PTC au cours de l'exercice 2023 ont totalisé 204 millions de dollars.

• Conseil de transformation numérique: 98 millions de dollars
• Services de mise en œuvre: 106 millions de dollars

PTC Inc. (PTC) - Canvas Business Model: Value Propositions

You're looking at the core promises PTC Inc. (PTC) is making to its customers as of late 2025, which is the heart of their Business Model Canvas. This is what they are selling, and the numbers show they are selling it effectively, especially with the shift to a subscription model.

Enabling the Intelligent Product Lifecycle (IPL) via a unified data foundation

PTC Inc. (PTC) is positioning its software suite to manage the entire product journey, from initial concept through design, manufacturing, service, and eventual retirement. This is centered on creating a single source of truth for product data. The focus on the IPL vision is underscored by the strategic divestiture of non-core assets like Kepware and ThingWorx to sharpen the portfolio around CAD, PLM, ALM, and SLM.

• Product Lifecycle Management (PLM) software revenue grew by 23% in FY2025.
• Computer-Aided Design (CAD) software revenue grew by 19% in FY2025.
• Annual Recurring Revenue (ARR) constant currency growth for FY2025 was 8.5%.

Cloud-native SaaS solutions for design and manufacturing (e.g., Onshape)

The value here is moving away from heavy, installed software to flexible, real-time collaboration in the cloud. Onshape is a prime example of this, offering built-in Product Data Management (PDM) without the usual IT overhead. This cloud-native approach is clearly gaining traction across the market.

Here's a look at the scale of the Onshape offering as of late 2025:

Metric	Value	Date/Period
Verified Companies Using Onshape	464	August 2025
Estimated Onshape Platform Revenue	$160 million	2025
New Student/Educator Signups Per Year	Over 1.5 million	Per Year

The platform eliminates the pain of traditional file locking and server management, so teams can work instantly together.

High-margin gross profit at 83.76% for FY2025

The subscription-heavy model delivers excellent profitability, which is a key indicator of pricing power and the value customers place on the recurring service. While the latest reported quarterly gross margin for the quarter ending September 2025 was 86.92%, the full fiscal year performance reflects sustained high margins.

The stated high-margin figure for the fiscal year is 83.76%, which was noted as the highest in the last 13 years. This high-margin structure supports significant investment back into the product.

AI-driven tools to streamline engineering workflows and product development

PTC Inc. (PTC) is embedding Artificial Intelligence across its suite to automate and speed up design and engineering tasks. This focus on AI is a major driver for new sales, as companies look to integrate these capabilities into their existing product development processes.

The operational leverage from this focus is clear in the bottom-line results:

• Non-GAAP Operating Income surged by 67% in FY2025.
• The company is continuing to build a strong foundation for AI-driven and verticalized growth.

Digital Twin and Augmented Reality (AR) solutions for service and operations

The value proposition extends beyond design into the operational phase, using Digital Twin technology-virtual representations of physical products powered by real-time data-to optimize maintenance and performance. PTC is a key player in this expanding market.

The market context for these solutions is significant:

• The Global Digital Twin Market Size was estimated at $20.41 Billion in 2024.
• The market is projected to grow at a Compound Annual Growth Rate (CAGR) of 27.4% between 2025 and 2035.

These AR and Digital Twin capabilities help customers reduce downtime and improve service delivery, which translates directly to customer gains.

PTC Inc. (PTC) - Canvas Business Model: Customer Relationships

You're looking at how PTC Inc. manages its relationships with its industrial software customers as of late 2025. It's all about locking in long-term value through subscriptions and dedicated support for complex engineering and manufacturing software.

Dedicated direct sales and account management for large enterprise accounts

PTC Inc. has been actively refining its sales approach, completing a significant go-to-market realignment. This effort involved $19 million in restructuring costs, with an objective to shorten average sales cycle time by 20% and increase win rates by 15% by the third quarter of fiscal year 2025. This structure supports deep engagement with major clients, evidenced by the November 2025 announcement of an expansion deal with Garrett Motion, where they adopted multiple PTC SaaS platforms.

• Strengthened relationships with American customers and partners at the January 2025 Global Summit.

Subscription-based model ensuring high customer retention and stickiness

The core of PTC Inc.'s customer relationship strategy is its recurring revenue base, which provides stability. About 95% of fiscal year 2025 revenue was recurring in nature, anchored in their PLM, CAD, and related industrial software offerings. This sticky model drove a constant currency Annual Recurring Revenue (ARR) growth of 8.5% for the full fiscal year 2025. To be fair, Q1 FY2025 saw even stronger growth, with Constant Currency ARR reaching $2.277 billion, an 11% year-over-year increase. The company's full-year guidance for constant currency ARR growth was set between 9% to 10%.

Here's a quick look at the financial scale supporting this relationship structure for the fiscal year ended September 30, 2025:

Metric	Amount (Millions USD)	Context
Total Revenue	2,740.00	FY 2025 Total Revenue
Total Recurring Revenue	2,600.00	FY 2025 Total Recurring Revenue
Professional Services Revenue	107.34	FY 2025 Professional Services Revenue
Q1 FY2025 Constant Currency ARR	2,277.00	Q1 FY2025 ARR in millions

Professional services and technical support for complex deployments

For the complex deployments that PTC Inc.'s core software requires, professional services remain a key touchpoint. For the full fiscal year 2025, Professional Services Revenue totaled $107.34 million. This revenue stream supports customers navigating intricate implementations of their CAD and PLM suites.

Community and ecosystem engagement (e.g., PTC/USER Global Summit)

Engagement is fostered through user events, which serve as critical exchange points. The PTC/USER Global Summit in New Orleans, held from January 27 to 30, 2025, brought together a total of 900 participants. The focus of discussions, including submissions for proposals, specifically highlighted the transition to cloud-based SaaS solutions.

Proactive transition support for customers moving to cloud-native offerings

PTC Inc. is actively supporting the shift to its cloud-native platforms. New customers, such as Nimble in July 2025, adopted platforms like Onshape and Arena. The call for proposals for the January 2025 user summit specifically sought out user stories detailing planning around or being already on cloud-based SaaS solutions, indicating a proactive focus on this transition within the user community.

PTC Inc. (PTC) - Canvas Business Model: Channels

You're looking at how PTC Inc. (PTC) gets its software and services into the hands of customers as of late 2025. The channel strategy is clearly split, leaning heavily on direct engagement for the biggest deals while relying on partners for broader market coverage.

Direct sales force focusing on large, strategic enterprise customers

The core of the revenue engine is the direct sales force, which targets your largest, most strategic enterprise accounts. Honestly, this focus makes sense given the complexity of their industrial software portfolio, like Windchill and Creo. We see the numbers backing this up: about 75% of PTC Inc.'s total revenue was derived from these direct sales to large accounts in fiscal year 2025. This high percentage shows where the company places its primary sales muscle.

Extensive global partner network for SMB market penetration

To cover the rest of the market efficiently, PTC Inc. uses its extensive global partner network. These authorized resellers and strategic system integrators are crucial for cost-effectively reaching the Small and Medium Business (SMB) market. While the exact revenue percentage from partners isn't explicitly stated for 2025, the structure implies they handle the segment not covered by the 75% direct sales figure. The partner network also receives quantitative awards based on performance metrics like growth, new logos, and subscription/customer retention.

Cloud-native platforms (e.g., Onshape) for direct digital distribution

The cloud-native platforms represent a pure digital distribution channel, bypassing traditional sales friction for many users. Onshape, for example, is a direct-to-customer Software-as-a-Service (SaaS) offering. For the fiscal year 2025, Onshape revenue is estimated to hit $160 million, a jump from the estimated $130 million in 2024. This platform is gaining traction, with 464 verified companies using Onshape as of August 17, 2025. PTC Inc. even secured its largest-ever Onshape deal in the fourth quarter of fiscal 2025. Also, the education segment feeds this channel heavily, bringing in over 1.5 million new signups per year from students and educators. That's a massive future pipeline being cultivated digitally.

Here's a quick look at the financial scale of the channels as of the end of fiscal year 2025:

Metric	Value (FY2025)	Context
Total Annual Revenue	$2.74 Billion	Fiscal year ending September 30, 2025.
Direct Sales Revenue Share	Approx. 75%	Focus on large, strategic enterprise customers.
Onshape Estimated Revenue	$160 Million	Estimated revenue for the Atlas (Onshape/Arena) platform in 2025.
GAAP Professional Services Revenue Change	Down 24.7%	Year-over-year change in Q3 FY2025.
Constant Currency ARR Growth Guidance (ex-divestiture)	7.5% to 9.5%	Guidance for fiscal year 2026.

Online marketplaces and application stores for specific tools

While not explicitly detailed with its own revenue line item, the cloud-native strategy inherently utilizes digital distribution points that function like online marketplaces. The open API and public model library within Onshape enable teams to develop and integrate their own AI solutions, which is a form of digital ecosystem distribution. The focus on vertical alignment and product enhancements, like the Arena AI Assistant launch, suggests these digital storefronts are key for feature adoption.

Professional Services organization for implementation and consulting

The Professional Services organization is there to help customers implement and consult on the complex deployments, but this channel seems to be shrinking relative to the subscription growth. In the third fiscal quarter of 2025, GAAP professional services revenue actually fell over 24.7% year-over-year. This decline suggests a deliberate shift where implementation work is either being absorbed by the subscription model, handled by the partner network, or customers are adopting the cloud solutions with less upfront consulting need. The company is spending on go-to-market realignment, with about $17 million paid out in the first three quarters of FY2025 related to this restructuring.

Finance: finalize the Q4 2025 channel revenue attribution model by next Tuesday.

PTC Inc. (PTC) - Canvas Business Model: Customer Segments

PTC Inc. supports over 30,000 customers globally. This customer base spans from the world's largest, most complex organizations to the fast-growing startups redefining industries.

The primary focus is on industrial and manufacturing enterprises requiring digital transformation solutions for designing, manufacturing, and servicing physical products. The company's strategy is built around its five key focus areas: CAD, PLM, ALM, SLM, and SaaS.

The key verticals targeted are served by specific product strengths:

Key Vertical	Associated PTC Focus Area/Product Mention	Customer Activity Example
Aerospace & Defense (FA&D)	Creo for design engineering	Investing in digital transformation.
Automotive	Core industrial software	Resilient demand for design software.
Heavy Equipment	Industrial and manufacturing sectors	Focus area mentioned in executive commentary.
Medical Technology	Codebeamer adoption	Driven by regulatory and safety compliance.

The segment includes customers moving toward cloud-native platforms, such as new customers like Nimble adopting Onshape and Arena in July 2025.

Within these organizations, the primary users are within the Engineering and R&D departments. These teams drive demand for PTC's core offerings, such as Creo for design, and Windchill for Product Lifecycle Management (PLM). For instance, one established customer utilizes Windchill as an enterprise platform for collaboration, focusing on software-defined product growth.

Customers are actively focused on digital transformation and AI adoption, which is a major driver of the business. The company's fiscal year 2025 Annual Recurring Revenue (ARR) growth of 9.3% year-over-year in Q3 was reinforced by customers prioritizing these initiatives. The AI offerings are designed to help customers:

• Interrogate product data intelligently.
• Accelerate engineering workflows.
• Automate specific domain tasks.

The overall scale of the business supporting these segments resulted in an annual revenue of $2.74B for the fiscal year ending September 30, 2025.

PTC Inc. (PTC) - Canvas Business Model: Cost Structure

You're analyzing the cost base for PTC Inc. as they push their industrial software transformation. The structure is heavily weighted toward talent and future product development, which is typical for a high-growth, IP-heavy software firm.

High fixed cost base dominated by R&D and software development salaries

The core of PTC Inc.'s cost structure is its investment in intellectual property, which translates directly into high fixed costs centered on Research & Development (R&D). This spending fuels the development of their core platforms and the AI-driven features you're seeing in the market. For instance, non-GAAP R&D expenses were projected to be around $400 million for fiscal 2025, representing an 11% Compound Annual Growth Rate (CAGR) from fiscal 2021 through 2025. This commitment to innovation is a significant, non-negotiable cost driver.

Sales and Marketing expenses, including commissions for the direct and partner channels

Sales and Marketing (S&M) is the other major operational outlay, supporting the direct sales force and the partner ecosystem that drives subscription revenue. For the nine months ended June 30, 2025, Sales and Marketing expenses totaled $424,319 thousand. This spending supports the go-to-market strategy, including commissions tied to the growing Annual Recurring Revenue (ARR).

Here's a quick look at some key operating expense components based on the latest available figures:

Cost Component	Period/Basis	Amount (USD)
Sales and Marketing Expenses	Nine Months Ended June 30, 2025	$424.3 million
GAAP Stock-Based Compensation Expense (Estimated Full Year)	FY2025 Guidance	$210 million to $220 million
Non-GAAP R&D Expenses (Expected)	FY2025	Approx. $400 million
Go-to-Market Realignment Cash Outflow (Total Expected)	FY2025	Approx. $20 million

Operating expenses increased approximately 3% in FY2025 due to growth investments

Overall spending reflects a balance between maintaining discipline and investing for the future. Compared to Fiscal Year 2024, PTC Inc.'s FY2025 GAAP operating expenses were expected to increase by approximately 3%, driven by those investments aimed at future growth. Still, you see operating efficiency gains, as evidenced by the strong margin expansion reported in earlier quarters.

Costs associated with the go-to-market realignment (approximately $20 million cash outflow in FY2025)

The strategic shift in how PTC Inc. sells its software incurred a specific, one-time cash impact. The full-year FY2025 cash flow guidance absorbed approximately $20 million of outflows directly related to this go-to-market realignment initiative. To be fair, this cost is a necessary friction point for realigning the sales structure toward verticalized solutions.

Cloud hosting and infrastructure costs for SaaS platforms

As PTC Inc. continues its pivot to cloud-native Software-as-a-Service (SaaS) platforms like Onshape and Arena, the associated costs for cloud hosting and infrastructure are an increasingly important part of the Cost of Revenue and operating expenses. While specific dollar amounts for FY2025 cloud infrastructure costs aren't explicitly broken out in the latest guidance summaries, the strategy itself dictates a sustained, variable cost component tied to customer consumption and platform scaling.

You'll want to monitor the relationship between the growth in Recurring Revenue and the associated Cost of Revenue, as that will show how efficiently they are scaling their cloud delivery.

• The company is focused on leveraging partners to deliver services, which helps manage direct professional services costs.
• The shift to SaaS is intended to lower customer costs to implement, upgrade, and administer software over the long term.
• SBC dilution is being offset by significant share repurchase programs.

Finance: draft 13-week cash view by Friday.

PTC Inc. (PTC) - Canvas Business Model: Revenue Streams

You're looking at how PTC Inc. actually brings in the money, which is key for understanding its stability. Honestly, the shift to recurring revenue is the story here, making cash flow much more predictable than the old one-time software sale model.

Subscription and License Revenue forms the core, with total FY2025 revenue hitting $2.739 billion. This is a mature software business now; about 95% of that 2025 revenue was recurring in nature, driven by existing customers expanding their use of PTC's SaaS and on-premise offerings.

The revenue streams break down into a few clear buckets, which you can see laid out here:

Revenue Component	FY2025 Amount (Approximate)
Total Revenue	$2.739 billion
Support and Cloud Services Revenue	$1.47 billion
License Revenue	$1.16 billion
Professional Services Revenue	$107.34 million

The largest component by far is Support and Cloud Services Revenue, which totaled $1.47 billion in FY2025. This stream includes support for perpetual licenses, the support portion of on-premises subscriptions, SaaS, and hosting services. This ratable recognition provides that steady foundation the company likes to talk about.

Next up is License Revenue, which was $1.16 billion for the fiscal year 2025. This figure includes the upfront recognition for the license portion of on-premises subscription contracts, which is a change from the older perpetual license model. It's definitely a smaller piece than the recurring services, but still substantial.

The smallest piece of the revenue pie is Professional Services Revenue, contributing $107.34 million in FY2025. You'll notice this number is relatively small, and management has been actively working to leverage partners for service delivery, which is why this revenue stream saw a decline compared to prior years.

The strength of this recurring model translates directly to the bottom line in terms of cash generation. PTC reported a strong Free Cash Flow generation of $857 million in FY2025. That's a 16.46% year-over-year increase for the annual figure.

Here's a quick look at what drives that cash flow:

• High Recurring Base: About 95% of FY2025 revenue was recurring.
• Predictability: The subscription model offers better business predictability.
• Cash Flow Growth: FY2025 FCF grew 16% year-over-year.
• FY2026 Expectation: Guidance for FY2026 operating cash flow is approximately $1.03 billion.

Finance: draft 13-week cash view by Friday.