PTC Inc. reported its fourth fiscal quarter and full fiscal year 2025 results, with annual recurring revenue $(ARR)$ growth of 8.5% and record operating and free cash flow, which grew 16%. Fiscal year 2025 revenue increased by 18% year over year on a constant currency basis. The company posted a GAAP earnings per share $(EPS)$ of $6.14, up 97%, and a non-GAAP EPS of $8.00, up 57%. PTC announced the divestiture of its Kepware industrial connectivity and ThingWorx Internet of Things businesses, aligning with its strategic focus on its Intelligent Product Lifecycle vision. For fiscal year 2026, PTC provided guidance for constant currency ARR growth of 7% to 9%, operating cash flow of approximately $1.03 billion, and free cash flow of approximately $1 billion, with updates to be made following the divestiture closing. The company also plans to increase share repurchases, with about $200 million expected in the first quarter of fiscal 2026 under its $2 billion authorization.