ARR and Free Cash Flow Performance
PTC reported a constant currency ARR of $2.277 billion, up 11% year-over-year. Free cash flow was up 29% year-over-year, reaching $236 million in Q1.
Go-to-Market Transformation Progress
Significant progress was made in reshaping the go-to-market organization to be vertically oriented, with new leadership roles added and strategic hires in growth marketing and sales enablement.
AI and Product Innovations
PTC launched AI-powered features in its ServiceMax offering, with plans to introduce similar functionalities across Codebeamer and other products, highlighting customer collaboration with Volkswagen Group and Microsoft.
SaaS and Product Portfolio Developments
Onshape, a cloud-native SaaS platform, delivered 17 significant releases over the past year, including cloud-native CAM and advanced surfacing tools.