Financial Performance - ARR as reported increased by 14% year-over-year, reaching $2,416 million in Q3'25 compared to $2,126 million in Q3'24 [14] - On a constant currency basis, ARR grew by 8% to 9%, reaching $2,372 million in Q3'25 compared to $2,170 million in Q3'24 [14] - Operating cash flow increased by 14% year-over-year, reaching $244 million in Q3'25 compared to $214 million in Q3'24 [15] - Free cash flow increased by 14% year-over-year, reaching $242 million in Q3'25 compared to $212 million in Q3'24 [15] Product and Geographic Performance - PLM ARR increased by 14% as reported, reaching $1,481 million in Q3'25 compared to $1,302 million in Q3'24 [21] - CAD ARR increased by 13% as reported, reaching $934 million in Q3'25 compared to $824 million in Q3'24 [18] - Americas ARR increased by 8% as reported, reaching $1,141 million in Q3'25 compared to $1,058 million in Q3'24 [22] - Europe ARR increased by 20% as reported, reaching $921 million in Q3'25 compared to $765 million in Q3'24 [23] - APAC ARR increased by 11% as reported, reaching $354 million in Q3'25 compared to $303 million in Q3'24 [24] Capital Allocation and Guidance - The company intends to repurchase approximately $300 million of its common stock in FY'25, with $225 million already repurchased in the first three quarters [28, 38] - FY'25 free cash flow is guided to be approximately $850 million, representing approximately 16% year-over-year growth [29, 68] - FY'25 revenue is guided to be between $2,570 million and $2,630 million, representing 12% to 14% growth [29]

Financial Performance - Q2'25 ARR as reported reached $2290 million, a 10% increase year-over-year[12] - Constant currency ARR at FY'25 Plan FX rates was $2326 million, also showing a 10% year-over-year growth[12] - Operating cash flow for Q2'25 was $281 million, a 12% increase compared to Q2'24[13] - Free cash flow for Q2'25 was $279 million, a 13% increase compared to Q2'24[13] Product and Geographic ARR - CAD ARR grew by 8% to $897 million on a constant currency basis[16] - PLM ARR grew by 11% to $1429 million on a constant currency basis[19] - Americas ARR grew by 9% to $1125 million on a constant currency basis[20] - Europe ARR grew by 11% to $861 million on a constant currency basis[21] - APAC ARR grew by 9% to $340 million on a constant currency basis[22] Balance Sheet and Capital Allocation - The company's gross debt was $1393 million with a weighted average interest rate of 52% as of Q2'25[24] - $155 million was used to pay down debt in Q2'25[26] - $75 million was used to repurchase shares of common stock in Q2'25[26] FY'25 Guidance - The company expects constant currency ARR growth of 7% to 9% for FY'25[27] - Free cash flow guidance for FY'25 is $840 million to $850 million[27]