Financial Performance & Guidance - Q4'25 ARR as reported reached $2478 million, a 10% YoY increase[22] - FY'25 Free Cash Flow was $857 million, a 16% YoY increase[23] - FY'26 Free Cash Flow guidance is approximately $1000 million[19,29] - FY'26 constant currency ARR growth guidance, excluding Kepware and ThingWorx, is 75% to 95%[16,29] - Q1'26 Free Cash Flow guidance is $265 million to $270 million[29] Kepware and ThingWorx Divestiture - The divestiture involves Kepware industrial connectivity and ThingWorx IoT businesses[9] - Estimated net transaction proceeds from the divestiture are approximately $365 million[12,14] - Kepware and ThingWorx contribute approximately $160 million of ARR and $200 million of revenue[15] - Kepware and ThingWorx contribute an estimated $70 million of free cash flow[17] Capital Allocation - The company intends to repurchase between $150 million and $250 million of its common stock per quarter in FY'26[40,80]

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]