Software revenue increased 4% YoY, driven by Computer-Aided Design (CAD) growth, particularly in the Americas. However, this growth was partially offset by lower Product Lifecycle Management (PLM) revenue in the Americas and Europe, indicating regional variations in product demand.

Professional services revenue decreased 12% YoY, reflecting PTC's strategy of leveraging partners to deliver services rather than contracting directly. This shift indicates a focus on scalability and cost efficiency through partner ecosystems.

The go-to-market realignment resulted in a decrease in operating income and a decrease in professional services gross margin, due to higher compensation costs driven by severance. This highlights the short-term financial impact of strategic organizational changes.

The 10-Q mentions that the macroeconomic and/or global manufacturing climates may not improve or may deteriorate due to the effects of recently imposed import tariffs and threats of additional import tariffs, volatile foreign exchange rates, high interest rates or increases in interest rates and inflation, tightening of credit standards and availability, geopolitical uncertainty, including the effects of the conflicts between Russia and Ukraine

The document mentions that 93% of the company's 2024 revenue being recurring in nature. Compared to a perpetual license model, our subscription model naturally drives higher customer engagement and retention and provides better business predictability

Professional services gross margin decreased in Q1'25 compared to Q1'24, primarily due to higher compensation costs, driven by severance related to our go-to-market realignment

In the three months ended December 31, 2024, we repurchased 0.4 million shares for $75 million. We did not repurchase any shares in the three months ended December 31, 2023

Approximately 50% of our revenue and 35% of our expenses are transacted in currencies other than the U.S. Dollar. Because we report our results of operations in U.S. Dollars, currency translation, particularly changes in the Euro, Yen, Shekel, and Rupee relative to the U.S. Dollar, affects our reported results