PTC (PTC) 10-Q 5 Aug 22 2022 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Jun. 30, 2022	Aug. 04, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	0-18059
Entity Registrant Name	PTC Inc.
Entity Incorporation, State or Country Code	MA
Entity Tax Identification Number	04-2866152
Entity Address, Address Line One	121 Seaport Boulevard
Entity Address, City or Town	Boston
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02210
City Area Code	781
Local Phone Number	370-5000
Title of 12(b) Security	Common Stock, $.01 par value per share
Trading Symbol	PTC
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		117,466,379
Amendment Flag	false
Entity Central Index Key	0000857005
Current Fiscal Year End Date	--09-30
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Sep. 30, 2021
ASSETS
Cash and cash equivalents	$ 322,326	$ 326,532
Accounts receivable, net of allowance for doubtful accounts of $715 and $304 at June 30, 2022 and September 30, 2021, respectively	473,298	541,072
Prepaid expenses	91,734	69,991
Other current assets	61,074	135,415
Total current assets	948,432	1,073,010
Property and equipment, net	90,815	100,237
Goodwill	2,382,680	2,191,887
Acquired intangible assets, net	398,634	378,967
Deferred tax assets	282,556	297,789
Operating right-of-use lease assets	143,388	152,337
Other assets	359,033	313,333
Total assets	4,605,538	4,507,560
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable	16,462	33,381
Accrued expenses and other current liabilities	124,342	113,067
Accrued compensation and benefits	109,732	117,784
Accrued income taxes	15,703	5,055
Deferred revenue	481,360	482,131
Short-term lease obligations	22,072	27,864
Total current liabilities	769,671	779,282
Long-term debt	1,425,084	1,439,471
Deferred tax liabilities	24,362	4,165
Deferred revenue	14,113	15,546
Long-term lease obligations	172,764	180,935
Other liabilities	42,374	49,693
Total liabilities	2,448,368	2,469,092
Commitments and contingencies (Note 15)
Stockholders’ equity:
Preferred stock, $0.01 par value; 5,000 shares authorized; none issued	0	0
Common stock, $0.01 par value; 500,000 shares authorized; 117,362 and 117,163 shares issued and outstanding at June 30, 2022 and September 30, 2021, respectively	1,174	1,172
Additional paid-in capital	1,668,983	1,718,504
Retained earnings	620,900	414,656
Accumulated other comprehensive loss	(133,887)	(95,864)
Total stockholders’ equity	2,157,170	2,038,468
Total liabilities and stockholders’ equity	$ 4,605,538	$ 4,507,560

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2022	Sep. 30, 2021
Current assets:
Allowance for doubtful accounts	$ 715	$ 304
Stockholders’ equity:
Preferred stock, par value (in USD per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Common stock, par value (in USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	117,362,000	117,163,000
Common stock, shares outstanding	117,362,000	117,163,000

Consolidated Statements Of Oper

Consolidated Statements Of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenue:
Total revenue	$ 462,474	$ 435,668	$ 1,425,422	$ 1,326,504
Cost of revenue:
Total cost of revenue	101,995	95,077	290,450	271,355
Gross margin	360,479	340,591	1,134,972	1,055,149
Operating expenses:
Sales and marketing	124,325	134,412	366,209	388,315
Research and development	88,170	78,134	250,639	221,514
General and administrative	54,618	47,084	154,027	157,417
Amortization of acquired intangible assets	8,931	7,511	25,865	21,708
Restructuring and other charges (credits), net	4,458	(132)	36,887	584
Total operating expenses	280,502	267,009	833,627	789,538
Operating income	79,977	73,582	301,345	265,611
Interest and debt premium expense	(13,758)	(13,178)	(38,983)	(37,622)
Other income (expense), net	34,559	(1,935)	(2,642)	(5,756)
Income before income taxes	100,778	58,469	259,720	222,233
Provision for income taxes	30,302	7,266	53,476	38,253
Net income	$ 70,476	$ 51,203	$ 206,244	$ 183,980
Earnings per share—Basic	$ 0.60	$ 0.44	$ 1.76	$ 1.58
Earnings per share—Diluted	$ 0.60	$ 0.43	$ 1.75	$ 1.56
Weighted-average shares outstanding—Basic	117,073	116,934	117,114	116,702
Weighted-average shares outstanding—Diluted	117,968	118,611	118,097	118,181
License
Revenue:
License	$ 175,163	$ 163,583	$ 562,646	$ 538,769
Cost of revenue:
Cost of license revenue	13,676	15,502	35,406	42,918
Support and cloud services
Revenue:
Support and cloud services	248,237	230,851	736,597	670,853
Cost of revenue:
Cost of support and cloud services revenue	46,598	42,392	137,251	120,706
Software
Revenue:
Total software revenue	423,400	394,434	1,299,243	1,209,622
Cost of revenue:
Total cost of software revenue	60,274	57,894	172,657	163,624
Professional services
Revenue:
Professional services	39,074	41,234	126,179	116,882
Cost of revenue:
Cost of professional services revenue	$ 41,721	$ 37,183	$ 117,793	$ 107,731

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 70,476	$ 51,203	$ 206,244	$ 183,980
Other comprehensive income (loss), net of tax:
Hedge gain (loss) arising during the period, net of tax of $1.9 million and $0 million in the third quarter of 2022 and 2021, respectively, and $4.0 million and $0.0 million in the first nine months of 2022 and 2021, respectively	5,880	(1,797)	12,072	(1,559)
Foreign currency translation adjustment, net of tax of $0 for each period	(35,795)	6,457	(52,819)	10,581
Unrealized loss on marketable securities, net of tax of $0 for each period	0	0	0	(307)
Amortization of net actuarial pension loss included in net income, net of tax of $0.0 million and $0.3 million in the third quarter of 2022 and 2021, respectively, and $0.2 million and $0.9 million in the first nine months of 2022 and 2021, respectively	(78)	738	447	2,214
Change in unamortized pension gain (loss) during the period related to changes in foreign currency	1,354	(291)	2,277	(385)
Other comprehensive income (loss)	(28,639)	5,107	(38,023)	10,544
Comprehensive income	$ 41,837	$ 56,310	$ 168,221	$ 194,524

Consolidated Statements Of Co_2

Consolidated Statements Of Comprehensive Income (Parenthetical) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement Of Income And Comprehensive Income [Abstract]
Hedge gain (loss) arising during the period, tax	$ (1,900,000)	$ 0	$ (4,000,000)	$ 0
Foreign currency translation adjustment, tax	0	0	0	0
Unrealized loss on marketable securities, tax	0	0	0	0
Amortization of net actuarial pension gain included in net income, tax	$ 0	$ 300,000	$ (200,000)	$ 900,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities:
Net income	$ 206,244	$ 183,980
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	65,456	62,670
Amortization of right-of-use lease assets	26,149	28,031
Stock-based compensation	133,283	133,896
Loss on investment	31,854	0
Gain on divestiture of business	(29,808)	0
Other non-cash items, net	(645)	(1,108)
Changes in operating assets and liabilities, excluding the effects of acquisitions:
Accounts receivable	25,228	(4,110)
Accounts payable and accrued expenses	(7,434)	15,834
Accrued compensation and benefits	(9,334)	121
Deferred revenue	18,038	30,733
Accrued income taxes	6,124	(13,524)
Other current assets and prepaid expenses	(26,933)	426
Operating lease liabilities	(10,544)	(13,106)
Other noncurrent assets and liabilities	(30,851)	(100,355)
Net cash provided by operating activities	396,827	323,488
Cash flows from investing activities:
Additions to property and equipment	(9,979)	(11,662)
Purchases of short- and long-term marketable securities	0	(7,562)
Proceeds from sales of short- and long-term marketable securities	0	56,170
Proceeds from maturities of short- and long-term marketable securities	0	9,861
Acquisitions of businesses, net of cash acquired	(274,974)	(717,779)
Proceeds from sale of investments	46,906	0
Purchases of investments	0	(2,000)
Purchase of intangible assets	(5,453)	(550)
Settlement of net investment hedges	18,043	(1,291)
Divestitures of businesses and assets, net	32,518	0
Net cash used in investing activities	(192,939)	(674,813)
Cash flows from financing activities:
Borrowings under credit facility	264,000	600,000
Repayments of borrowings under credit facility	(280,000)	(128,000)
Repurchases of common stock	(125,000)	0
Proceeds from Issuance of Common Stock	10,857	10,484
Payments of withholding taxes in connection with stock-based awards	(62,856)	(42,215)
Payments of principal for financing leases	(239)	(279)
Net cash (used in) provided by financing activities	(193,238)	439,990
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(14,654)	1,646
Net change in cash, cash equivalents, and restricted cash	(4,004)	90,311
Cash, cash equivalents, and restricted cash, beginning of period	327,046	275,960
Cash, cash equivalents, and restricted cash, end of period	323,042	366,271
Supplemental disclosure of non-cash financing activities:
Withholding taxes in connection with stock-based awards, accrued	$ 5,803	$ 9,979

Consolidated Statements of Stoc

Consolidated Statements of Stockholder's Equity - USD ($) $ in Thousands	Total	Net Investment Hedging	Common Stock	Additional Paid-In Capital	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss Net Investment Hedging
Beginning balance at Sep. 30, 2020	$ 1,438,248		$ 1,161	$ 1,602,728	$ (62,267)	$ (103,374)
Beginning balance (in shares) at Sep. 30, 2020			116,125,000
Common stock issued for employee stock-based awards			$ 15	(15)
Common stock issued for employee stock-based awards (in shares)			1,470,000
Shares surrendered by employees to pay taxes related to stock-based awards	(52,194)		$ (4)	(52,190)
Shares surrendered by employees to pay taxes related to stock-based awards (in shares)			459,000
Common stock issued for employee stock purchase plan	10,484		$ 1	10,483
Common stock issued for employee stock purchase plan (in shares)			144,000
Compensation expense from stock-based awards	$ 133,896			133,896
Repurchases of common stock (in shares)	0
Net income	$ 183,980				183,980
Unrealized loss on net investment hedges, net of tax		$ (1,559)					$ (1,559)
Foreign currency translation adjustment	10,581					10,581
Unrealized loss on marketable securities, net of tax	(307)					(307)
Change in pension benefits, net of tax	(1,829)
Ending balance at Jun. 30, 2021	1,724,958		$ 1,173	1,694,902	121,713	(92,830)
Ending balance (in shares) at Jun. 30, 2021			117,280,000
Beginning balance at Mar. 31, 2021	1,650,533		$ 1,169	1,676,791	70,510	(97,937)
Beginning balance (in shares) at Mar. 31, 2021			116,855,000
Common stock issued for employee stock-based awards			$ 6	(6)
Common stock issued for employee stock-based awards (in shares)			608,000
Shares surrendered by employees to pay taxes related to stock-based awards	(24,953)		$ (2)	(24,951)
Shares surrendered by employees to pay taxes related to stock-based awards (in shares)			(183,000)
Compensation expense from stock-based awards	$ 43,068			43,068
Repurchases of common stock (in shares)	0
Net income	$ 51,203				51,203
Unrealized loss on net investment hedges, net of tax		(1,797)					(1,797)
Foreign currency translation adjustment	6,457					6,457
Unrealized loss on marketable securities, net of tax	0
Change in pension benefits, net of tax	447					447
Ending balance at Jun. 30, 2021	1,724,958		$ 1,173	1,694,902	121,713	(92,830)
Ending balance (in shares) at Jun. 30, 2021			117,280,000
Beginning balance at Sep. 30, 2021	$ 2,038,468		$ 1,172	1,718,504	414,656	(95,864)
Beginning balance (in shares) at Sep. 30, 2021	117,163,000		117,163,000
Common stock issued for employee stock-based awards			$ 18	(18)
Common stock issued for employee stock-based awards (in shares)			1,729,000
Shares surrendered by employees to pay taxes related to stock-based awards	$ (68,659)		$ (6)	(68,653)
Shares surrendered by employees to pay taxes related to stock-based awards (in shares)			(594,000)
Common stock issued for employee stock purchase plan	10,857		$ 1	10,856
Common stock issued for employee stock purchase plan (in shares)			110,000
Compensation expense from stock-based awards	133,283			133,283
Repurchases of common stock	$ (125,000)		$ (11)	(124,989)
Repurchases of common stock (in shares)	(1,046,000)		(1,046,000)
Net income	$ 206,244				206,244
Unrealized loss on net investment hedges, net of tax		12,072					12,072
Foreign currency translation adjustment	(52,819)					(52,819)
Unrealized loss on marketable securities, net of tax	0
Change in pension benefits, net of tax	2,724					2,724
Ending balance at Jun. 30, 2022	$ 2,157,170		$ 1,174	1,668,983	620,900	(133,887)
Ending balance (in shares) at Jun. 30, 2022	117,362,000		117,362,000
Beginning balance at Mar. 31, 2022	$ 2,083,977		$ 1,170	1,637,631	550,424	(105,248)
Beginning balance (in shares) at Mar. 31, 2022			116,976,000
Common stock issued for employee stock-based awards			$ 6	(6)
Common stock issued for employee stock-based awards (in shares)			558,000
Shares surrendered by employees to pay taxes related to stock-based awards	(18,064)		$ (2)	(18,062)
Shares surrendered by employees to pay taxes related to stock-based awards (in shares)			(172,000)
Compensation expense from stock-based awards	$ 49,420			49,420
Repurchases of common stock (in shares)	0
Net income	$ 70,476				70,476
Unrealized loss on net investment hedges, net of tax		$ 5,880					$ 5,880
Foreign currency translation adjustment	(35,795)					(35,795)
Unrealized loss on marketable securities, net of tax	0
Change in pension benefits, net of tax	1,276					1,276
Ending balance at Jun. 30, 2022	$ 2,157,170		$ 1,174	$ 1,668,983	$ 620,900	$ (133,887)
Ending balance (in shares) at Jun. 30, 2022	117,362,000		117,362,000

Basis of Presentation

Basis of Presentation	9 Months Ended
	Jun. 30, 2022
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation	1. Basis of Presentation General The accompanying unaudited condensed consolidated financial statements include the accounts of PTC Inc. and its wholly owned subsidiaries and have been prepared by management in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) and in accordance with the rules and regulations of the Securities and Exchange Commission regarding interim financial reporting. Accordingly, they do not include all the information and footnotes required by generally accepted accounting principles for complete financial statements. While we believe that the disclosures presented are adequate in order to make the information not misleading, these unaudited quarterly financial statements should be read in conjunction with our annual consolidated financial statements and related notes included in our Annual Report on Form 10-K for the fiscal year ended September 30, 2021. In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments, consisting only of those of a normal recurring nature, necessary for a fair statement of our financial position, results of operations and cash flows at the dates and for the periods indicated. The September 30, 2021 Consolidated Balance Sheet included herein is derived from our audited consolidated financial statements. Unless otherwise indicated, all references to a year mean our fiscal year, which ends on September 30. Risks and Uncertainties - COVID-19 Pandemic The COVID-19 pandemic that began in early 2020 continues to significantly affect global economic activity and create macroeconomic uncertainty. We assessed certain accounting matters that generally require consideration of forecasted financial information in context with the information reasonably available to us and the unknown future impacts of the COVID-19 pandemic as of June 30, 2022 and through the date of this report. The accounting matters assessed included, but were not limited to, our allowance for doubtful accounts, stock-based compensation, the carrying value of our goodwill and other long-lived assets, financial assets, valuation allowances for tax assets and revenue recognition. While our assessment did not result in a material impact to our consolidated financial statements as of and for the quarter ended June 30, 2022, our future assessment could result in material impacts to our consolidated financial statements in future reporting periods. Recently Adopted Accounting Pronouncements Income Taxes In December 2019, the FASB issued Accounting Standards Update ASU 2019-12, Income Taxes (Topic 740) on Simplifying the Accounting for Income Taxes. The decisions reflected in ASU 2019-12 update specific areas of ASC 740, Income Taxes , to reduce complexity while maintaining or improving the usefulness of the information provided to users of financial statements. The new standard became effective for us in the first quarter of 2022 ending December 31, 2021 and did not have a material impact on our consolidated financial statements. Business Combinations In October 2021, the FASB issued Accounting Standards Update ASU 2021-08, Business Combinations (Topic 805) on Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. This ASU is intended to improve the accounting for acquired revenue contracts with customers in a business combination by addressing diversity in practice and inconsistency related to 1) recognition of an acquired contract asset and liability, and 2) payment terms and their effect on subsequent revenue recognized by the acquirer. We have adopted ASU 2021-08 early as of the third quarter of 2022 and applied it to our acquisition of Intland Software, which was completed in the quarter. The adoption of ASU 2021-08 did not have a material impact on our consolidated financial statements. Refer to Note 6. Acquisitions and Disposition of Business for additional discussion regarding the accounting for the acquisition of Intland Software. Pending Accounting Pronouncements Reference Rate Reform In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The ASU provides optional guidance for contract modifications and certain hedging relationships associated with the transition from reference rates that are expected to be discontinued. ASU 2020-04 is effective for all entities upon issuance through December 31, 2022. We are still evaluating the impact, but do not expect the standard to have a material impact on our consolidated financial statements.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	9 Months Ended
	Jun. 30, 2022
Revenue From Contract With Customer [Abstract]
Revenue from Contracts with Customers	2. Revenue from Contracts with Customers Contract Assets and Contract Liabilities (in thousands) June 30, September 30, Contract asset $ 17,869 $ 12,934 Deferred revenue $ 495,473 $ 497,677 As of June 30, 2022, $ 13.4 million of our contract assets are expected to be transferred to receivables within the next 12 months and therefore are included in other current assets. The remainder is included in other long-term assets and expected to be transferred within the next 24 months. Approximately $ 6.9 million of the September 30, 2021 contract asset balance was transferred to receivables during the nine months ended June 30, 2022 as a result of the right to payment becoming unconditional. Additions to contract assets of approximately $ 11.9 million related to revenue recognized in the period, net of billings. The majority of the contract asset balance relates to two large professional services contracts with invoicing terms based on performance milestones. There were no impairments of contract assets during the nine months ended June 30, 2022. During the nine months ended June 30, 2022, we recognized $ 443.5 million of revenue that was included in deferred revenue as of September 30, 2021 and there were additional deferrals of $ 434.4 million, primarily related to new billings. In addition, deferred revenue increased by $ 6.9 million as a result of the acquisition of Intland. For subscription contracts, we generally invoice customers annually. The balance of total short- and long-term receivables as of June 30, 2022 was $ 696.9 million, compared to total short- and long-term receivables as of September 30, 2021 of $ 744.6 million. Our multi-year, non-cancellable on-premise subscription contracts provide customers with an annual right to exchange software within the subscription with other software. As of June 30, 2022 and September 30, 2021, the total refund liability was $ 36.4 million and $ 40.3 million, respectively, primarily associated with the annual right to exchange on-premise subscription software. We maintain allowances for doubtful accounts for estimated losses resulting from the inability of our customers to make required payments. In determining the adequacy of the allowance for doubtful accounts, management specifically analyzes individual accounts receivable, historical bad debt, customer concentrations, customer credit-worthiness, current economic conditions, and accounts receivable aging trends. Our allowance for doubtful accounts on trade accounts receivable was $ 0.7 million as of June 30, 2022 and $ 0.3 million as of September 30, 2021. Uncollectible trade accounts receivable written-off and bad debt expense were immaterial in the three and nine months ended June 30, 2022. Costs to Obtain or Fulfill a Contract We recognize an asset for the incremental costs of obtaining a contract with a customer if the benefit of those costs is expected to be longer than one year. These deferred costs are primarily related to commissions. As of June 30, 2022 and September 30, 2021, deferred costs of $ 39.7 million and $ 40.2 million, respectively, are included in other current assets and $ 75.9 million and $ 81.1 million, respectively, are included in other assets (non-current). Amortization expense related to costs to obtain a contract with a customer was $ 11.9 million and $ 36.2 million in the three and nine months ended June 30, 2022, respectively, and $ 11.7 million and $ 33.1 million in the three and nine months ended June 30, 2021, respectively. There were no impairments of the contract cost asset in the three and nine months ended June 30, 2022 and June 30, 2021. Remaining Performance Obligations Our contracts with customers include transaction price amounts allocated to performance obligations that will be satisfied and recognized as revenue at a later date. As of June 30, 2022, the transaction price amounts include performance obligations of $ 495.5 million recorded in deferred revenue and $ 916.9 million that are not yet recorded in the Consolidated Balance Sheets. We expect to recognize approximately 83 % of the total $ 1,412.4 million over the next 24 months, with the remaining amount thereafter. Disaggregation of Revenue (in thousands) Three months ended Nine months ended June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Recurring revenue (1) $ 415,197 $ 387,175 $ 1,273,032 $ 1,186,978 Perpetual license 8,203 7,259 26,211 22,644 Professional services 39,074 41,234 126,179 116,882 Total revenue $ 462,474 $ 435,668 $ 1,425,422 $ 1,326,504 (1) Recurring revenue is comprised of on-premise subscription, perpetual support, SaaS, and cloud services revenue. For further disaggregation of revenue by geographic region and product group see Note 11. Segment and Geographic Information .

Restructuring and Other Charges

Restructuring and Other Charges	9 Months Ended
	Jun. 30, 2022
Restructuring And Related Activities [Abstract]
Restructuring and Other Charges	3. Restructuring and Other Charges Restructuring and other charges, net includes restructuring charges (credits) and impairment and accretion expense charges related to the lease assets of exited facilities. Refer to Note 14. Leases for additional information about exited facilities. In the three months ended June 30, 2022, restructuring and other charges, net totaled $ 4.5 million, of which $ 5.1 million is attributable to other charges for professional fees included in restructuring related to our SaaS transformation , offset by a $ 0.6 million credit, primarily attributable to sublease income and the reversal of lease liabilities related to exited lease facilities. We made cash payments related to restructuring and other charges of $ 9.5 million ($ 6.2 million related to employee charges, $ 2.5 million in payments for other professional fees included in restructuring related to our SaaS transformation, and $ 0.8 million in net payments for variable costs related to restructured facilities). In the nine months ended June 30, 2022, restructuring and other charges, net totaled $ 36.9 million of which $ 32.8 million is attributable to restructuring charges, $ 5.1 million is attributable to other charges for professional fees included in restructuring related to our SaaS transformation, offset by a $ 1.0 million credit attributable to sublease income and the reversal of lease liabilities related to exited lease facilities. We made cash payments related to restructuring charges of $ 36.6 million ($ 32.0 million related to employee charges, $ 2.5 million in payments for other professional fees included in restructuring related to our SaaS transformation, and $ 2.1 million in net payments for variable costs related to restructured facilities). In the three and nine months ended June 30, 2021 , restructuring and other charges, net totaled $( 0.1 ) million and $ 0.6 million, respectively, which is attributable to restructuring charges and impairment and accretion expense related to exited facilities. Restructuring Charges In the first quarter of 2022, we committed to a plan to restructure our workforce and consolidate select facilities to align our customer facing and product-related functions with the SaaS industry best practices and accelerate the opportunity for our on-premise customers to move to the cloud. The restructuring plan resulted in charges of $ 0.1 million and $ 33.6 million in the third quarter and first nine months of 2022 , primarily associated with the termination benefits of approximately 330 employees. We are anticipating total restructuring charges for this plan to be approximately $ 37 million. In the first quarter of 2020, we initiated a restructuring program as part of a realignment associated with expected synergies and operational efficiencies related to the Onshape acquisition. The restructuring plan resulted in charges of $ 30.8 million through fiscal year 2020 for termination benefits associated with approximately 250 employees. During the nine months ended June 30, 2022 and June 30, 2021, we incurred credits of $ 0.1 million and charges of $ 0.2 million, respectively, in connection with this restructuring plan. The following table summarizes restructuring accrual activity for the nine months ended June 30, 2022: (in thousands) Employee Severance and Related Benefits Facility Closures and Related Costs Total Accrual, October 1, 2021 $ 1,981 $ 3,505 $ 5,486 Charges to operations, net 33,471 ( 721 ) 32,750 Cash disbursements ( 31,965 ) ( 2,159 ) ( 34,124 ) Foreign exchange impact ( 550 ) — ( 550 ) Accrual, June 30, 2022 $ 2,937 $ 625 $ 3,562 The following table summarizes restructuring accrual activity for the nine months ended June 30, 2021: (in thousands) Employee Severance and Related Benefits Facility Closures and Related Costs Total Accrual, October 1, 2020 $ 3,992 $ 5,995 $ 9,987 Charges to operations, net 162 183 345 Cash disbursements ( 3,925 ) ( 2,303 ) ( 6,228 ) Foreign exchange impact 33 17 50 Accrual, June 30, 2021 $ 262 $ 3,892 $ 4,154 The accrual for employee severance and related benefits is included in accrued compensation and benefits in the Consolidated Balance Sheets. The accrual for facility closures and related costs is included in accrued expenses and other current liabilities in the Consolidated Balance Sheets.

Stock-based Compensation

Stock-based Compensation	9 Months Ended
	Jun. 30, 2022
Share Based Compensation Allocation And Classification In Financial Statements [Abstract]
Stock-Based Compensation	4. Stock-based Compensation Our equity incentive plan provides for grants of nonqualified and incentive stock options, common stock, restricted stock, restricted stock units (RSUs) and stock appreciation rights to employees, directors, officers and consultants. We award RSUs as our principal equity incentive awards. The following table shows RSU activity for the nine months ended June 30, 2022: (in thousands, except grant date fair value data) Number of Weighted-Average Balance of outstanding restricted stock units, October 1, 2021 3,217 $ 92.46 Granted (1) 1,609 $ 114.18 Vested ( 1,728 ) $ 92.83 Forfeited or not earned ( 318 ) $ 98.55 Balance of outstanding restricted stock units, June 30, 2022 2,780 $ 104.93 (1) Restricted stock units granted includes 37 shares from prior period rTSR awards that were earned upon achievement of the performance criteria and vested in November 2021 , and 87 shares from prior period Performance-based awards that were earned upon achievement of the performance criteria and vested in November 2021. The following table presents the number of RSU awards granted by award type: (in thousands) Nine months ended Performance-based RSUs (1) 89 Service-based RSUs (2) 1,320 Relative Total Shareholder Return RSUs (3) 76 (1) The performance-based RSUs were granted to our executives and are eligible to vest based upon annual increasing performance measures over a three-year period. To the extent earned, those performance-based RSUs will vest in three substantially equal installments on November 15, 2022, November 15, 2023, and November 15, 2024, or the date the Compensation Committee determines the extent to which the applicable performance criteria have been achieved for each performance period. Up to a maximum of two times the number of RSUs can be earned (a maximum aggregate of 165 RSUs). (2) The service-based RSUs were granted to employees, including our executive officers. Substantially all service-based RSUs will vest in three substantially equal annual installments on or about the anniversary of the date of grant. (3) The relative Total Shareholder Return RSUs (rTSR RSUs) were granted to our executives and are eligible to vest based on the performance of PTC stock relative to the stock performance of an index of PTC peer companies established as of the grant date, as determined at the end of the measurement period ending on September 30, 2024. The RSUs earned will vest on November 15, 2024. Up to a maximum of two times the number of rTSR RSUs eligible to be earned for the period (up to a maximum aggregate of 152 RSUs) may vest. If the return to PTC shareholders is negative for the period but still meets or exceeds the peer group indexed return, a maximum of 100 % of the rTSR RSUs may vest. The weighted-average fair value of the rTSR RSUs was 136.43 per target RSU on the grant date. The fair value of the rTSR RSUs was determined using a Monte Carlo simulation model. The significant assumptions used in the Monte Carlo simulation model were as follows: Average volatility of peer group 34.67 % Risk free interest rate 0.81 % Dividend yield — % Compensation expense recorded for our stock-based awards is classified in our Consolidated Statements of Operations as follows: (in thousands) Three months ended Nine months ended June 30, June 30, June 30, June 30, Cost of license revenue $ 338 $ 26 $ 413 $ 66 Cost of support and cloud services revenue 2,544 2,611 8,183 7,222 Cost of professional services revenue 5,547 2,457 10,069 6,746 Sales and marketing 14,029 14,229 38,556 42,533 Research and development 11,002 8,514 30,682 24,878 General and administrative 15,960 15,231 45,380 52,451 Total stock-based compensation expense $ 49,420 $ 43,068 $ 133,283 $ 133,896 Stock-based compensation expense includes $ 1.6 million and $ 4.8 million in the third quarter and first nine months of 2022, respectively, and $ 1.8 million and $ 5.6 million in the third quarter and first nine months of 2021 , respectively, related to our employee stock purchase plan.

Earnings per Share (EPS) and Co

Earnings per Share (EPS) and Common Stock	9 Months Ended
	Jun. 30, 2022
Earnings Per Share And Common Stock [Abstract]
Earnings per Share (EPS) and Common Stock	5. Earnings per Share (EPS) and Common Stock EPS The following table presents the calculation for both basic and diluted EPS: (in thousands, except per share data) Three months ended Nine months ended June 30, June 30, June 30, June 30, Net income $ 70,476 $ 51,203 $ 206,244 $ 183,980 Weighted-average shares outstanding—Basic 117,073 116,934 117,114 116,702 Dilutive effect of restricted stock units 895 1,677 983 1,479 Weighted-average shares outstanding—Diluted 117,968 118,611 118,097 118,181 Earnings per share—Basic $ 0.60 $ 0.44 $ 1.76 $ 1.58 Earnings per share—Diluted $ 0.60 $ 0.43 $ 1.75 $ 1.56 Anti-dilutive shares for the three and nine months ended June 30, 2022 and 2021 were immaterial. Common Stock Repurchases Our Articles of Organization authorize us to issue up to 500 million shares of our common stock. Our Board of Directors has authorized us to repurchase up to $ 1 billion of our common stock in the period October 1, 2020 through September 30, 2023. In the third quarter ended June 30, 2022 , we did no t repurchase any shares. In the nine months ended June 30, 2022, we repurchased 1,046 thousand shares for $ 125 million. We did no t repurchase any shares in the third quarter and first nine months of 2021 . All shares of our common stock repurchased are automatically restored to the status of authorized and unissued.

Acquisitions and Disposition of

Acquisitions and Disposition of Business	9 Months Ended
	Jun. 30, 2022
Business Combinations [Abstract]
Acquisitions and Disposition of Business	6. Acquisitions and Disposition of Business Acquisition and transaction-related costs in the third quarter and first nine months of 2022 totaled $ 6.4 million and $ 11.3 million, respectively, compared to $ 0.6 million and $ 14.8 million in the third quarter and first nine months of 2021, respectively. These costs are classified in general and administrative expenses in the accompanying Consolidated Statements of Operations. Acquisition and transaction-related costs include direct costs of potential and completed acquisitions and dispositions (e.g., investment banker fees and professional fees, including diligence, legal and valuation services), expenses related to acquisition integration activities (e.g., professional fees and severance), and other transactional charges include third-party costs related to structuring unusual transactions. In addition, subsequent adjustments to our initial estimated amount of contingent consideration associated with specific acquisitions are included within acquisition-related charges. Our results of operations include the results of acquired or sold businesses beginning on their respective acquisition or sale date. Our results of operations for the reported periods if presented on a pro forma basis would not differ materially from our reported results. Intland Software On April 29, 2022, we acquired Intland Software, GmbH, and Eger Invest GmbH (together, “Intland Software”) pursuant to a Share Sale and Purchase Agreement. Intland Software develops and markets the Codebeamer™ Application Lifecycle Management (ALM) family of software products. The preliminary purchase price of the acquisition is $ 277.2 million, of which approximately $ 274.8 million has been paid, net of cash acquired, which was financed with cash on hand and $ 264 million borrowed under our existing credit facility. Intlan d had approximately 150 employees on the close date. The acquisition of Intland has been accounted for as a business combination. Assets acquired and liabilities assumed have been recorded at their estimated fair values as of the acquisition date. The fair values of intangible assets were based on valuations using a discounted cash flow model which requires the use of significant estimates and assumptions, including estimating future revenues and costs. The excess of the purchase price over the tangible assets, identifiable intangible assets and assumed liabilities was recorded as goodwill. The purchase price allocation is considered preliminary, and additional adjustments may be recorded during the measurement period as the company receives additional information relevant to the acquisition related to the finalization of working capital adjustments to the purchase price and deferred tax assets and liabilities. The preliminary purchase price allocation resulted in $ 240.0 million of goodwill, $ 38.8 million of customer relationships, $ 19.1 million of purchased software, $ 1.3 million of trademarks, $ 20.8 million of deferred tax liabilities, $ 6.9 million of deferred revenue, $ 6.5 million of accounts receivable, and $ 0.8 million of other net liabilities. The acquired customer relationships, purchased software, and trademarks are being amortized over useful lives of 11 years , 10 years , and 10 years , respectively, based on the expected economic benefit pattern of the assets. The acquired goodwill was allocated to our software products segment and will not be deductible for income tax purposes. The resulting amount of goodwill reflects the expected value that will be created by expanding our ALM offerings, which are complementary to our PLM offerings. Arena On January 15, 2021, we acquired Arena Holdings, Inc. (“Arena”) pursuant to the Agreement and Plan of Merger dated as of December 12, 2020 by and among PTC, Arena, Astronauts Merger Sub, Inc., and the Representative named therein. We paid approximately $ 715 million, net of cash acquired of $ 11.1 million, for Arena, which amount was financed with cash on hand and $ 600 million borrowed under our existing credit facility. Arena had approximately 170 employees on the close date. The acquisition of Arena added revenue of approximately $ 29.8 million in FY'21 , which is net of approximately $ 9.1 million in fair value adjustments related to purchase accounting for the acquisition. The acquisition of Arena has been accounted for as a business combination. Assets acquired and liabilities assumed were recorded at their estimated fair values as of the acquisition date. The fair values of intangible assets were based on valuations using a discounted cash flow model which requires the use of significant estimates and assumptions, including estimating future revenues and costs. The excess of the purchase price over the tangible assets, identifiable intangible assets and assumed liabilities was recorded as goodwill. The purchase price allocation resulted in $ 562.8 million of goodwill, $ 155.0 million of customer relationships, $ 38.3 million of purchased software, $ 4.2 million of trademarks, $ 41.3 million of deferred tax liabilities, $ 15.5 million of deferred revenue, $ 11.4 million of accounts receivable, and $ 0.4 million of other net liabilities. The acquired customer relationships, purchased software, and trademarks are being amortized over useful lives of 13 years, 9 years, and 12 years, respectively, based on the expected economic benefit pattern of the assets. The acquired goodwill was allocated to our software products segment and will not be deductible for income tax purposes. The resulting amount of goodwill reflects the expected value that will be created by participation in expected future growth of the PLM SaaS market and expansion into the mid-market for PLM, where SaaS solutions are becoming the standard. PLM Services Business Disposition On June 1, 2022, we sold a portion of our PLM services business to ITC Infotech India Limited ("ITC Infotech") pursuant to the Strategic Partner Agreement dated as of April 20, 2022 by and among PTC and ITC Infotech India Limited. Consideration received from ITC Infotech for the sale was approximately $ 60.4 million, consisting of $ 32.5 million cash paid on closing and $ 28.0 million of services to be provided by ITC Infotech to PTC for no additional charge. We recognized a gain on the sale of $ 29.8 million, which is included within Other income (expense), net. The recognized gain consists of $ 60.4 million of consideration received, less net assets of the business of $ 30.6 million. Net assets include $ 33.0 million of goodwill allocated to the business, less $ 2.4 million of liabilities associated with approximately 160 employees who transferred to ITC Infotech. Goodwill was allocated to the sold business based on a relative fair value allocation of total goodwill of the Professional Services segment. Additional future contingent consideration of up to $ 20 million may be received by PTC based on certain performance milestones. We have elected to defer the recognition of gains associated with contingent consideration until they become realizable.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Jun. 30, 2022
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	7. Goodwill and Intangible Assets We have two operating and reportable segments: (1) Software Products and (2) Professional Services. We assess goodwill for impairment at the reporting unit level. Our reporting units are determined based on the components of our operating segments that constitute a business for which discrete financial information is available and for which operating results are regularly reviewed by segment management. Our reporting units are the same as our operating segments. As of June 30, 2022, goodwill and acquired intangible assets in the aggregate attributable to our Software Products segment was $ 2,769.8 million and attributable to our Professional Services segment was $ 11.5 million. As of September 30, 2021, goodwill and acquired intangible assets in the aggregate attributable to our Software Products segment was $ 2,525.7 million and attributable to our Professional Services segment was $ 45.2 million. Acquired intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of the asset may not be recoverable. We evaluate goodwill for impairment in the third quarter of our fiscal year, or on an interim basis if an event occurs or circumstances change that would, more likely than not, reduce the fair value of a reporting segment below its carrying value. If a reporting unit's carrying value exceeds its fair value, we record an impairment loss equal to the difference between the carrying value of goodwill and its estimated fair value. Factors we consider important, on an overall company basis and segment basis, when applicable, that could trigger an impairment review include significant under-performance relative to historical or projected future operating results, significant changes in our use of the acquired assets or the strategy for our overall business, significant negative industry or economic trends, a significant decline in our stock price for a sustained period and a reduction of our market capitalization relative to net book value. We completed our annual goodwill impairment review as of June 30, 2022, which consisted of a qualitative assessment of our Software Products segment and a quantitative assessment of our Professional Services segment in conjunction with the sale of a portion of that business to ITC Infotech. Our qualitative assessment for Software Products included company-specific (e.g., financial performance and long-range plans), industry, and macroeconomic factors, as well as consideration of the fair value of each reporting unit relative to its carrying value at the last valuation date (June 27, 2020). Based on our qualitative assessment, we believe it is more likely than not that the fair value of our Software Products reporting unit exceeds its carrying value and no further impairment testing is required. Our quantitative assessment for the Professional Services segment compared the fair value of the reporting unit to its carrying value. We estimated the fair value of the reporting unit using a discounted cash flow valuation model. This model requires estimates of future revenues, profits, capital expenditures, working capital, and a terminal value based on a residual cash flow valuation model. We estimated this amount by evaluating historical trends, current budgets and operating plans, including consideration of the completed transaction with ITC Infotech. Based on a comparison of the estimated fair value to the carrying value of the Professional Services reporting unit as of June 30, 2022, no impairment was required. Goodwill and acquired intangible assets consisted of the following: (in thousands) June 30, 2022 September 30, 2021 Gross Accumulated Net Book Gross Accumulated Net Book Goodwill (not amortized) $ 2,382,680 $ 2,191,887 Intangible assets with finite lives (amortized): Purchased software 503,579 352,587 150,992 $ 483,771 $ 338,542 $ 145,229 Capitalized software 22,877 22,877 — 22,877 22,877 — Customer lists and relationships 604,261 367,082 237,179 574,516 350,648 223,868 Trademarks and trade names 27,865 17,402 10,463 26,906 17,036 9,870 Other 3,856 3,856 — 4,000 4,000 — Total intangible assets with finite lives $ 1,162,438 $ 763,804 $ 398,634 $ 1,112,070 $ 733,103 $ 378,967 Total goodwill and acquired intangible assets $ 2,781,314 $ 2,570,854 Goodwill Changes in goodwill presented by reportable segments were as follows: (in thousands) Software Professional Total Balance, October 1, 2021 $ 2,148,968 $ 42,919 $ 2,191,887 Acquisition 240,709 — 240,709 Divestiture of business — ( 32,992 ) ( 32,992 ) Foreign currency translation adjustment ( 16,755 ) ( 169 ) ( 16,924 ) Balance, June 30, 2022 $ 2,372,922 $ 9,758 $ 2,382,680 Amortization of Intangible Assets The aggregate amortization expense for intangible assets with finite lives is classified in our Consolidated Statements of Operations as follows: (in thousands) Three months ended Nine months ended June 30, June 30, June 30, June 30, Amortization of acquired intangible assets $ 8,931 $ 7,511 $ 25,865 $ 21,708 Cost of license revenue 6,596 8,260 19,010 21,644 Total amortization expense $ 15,527 $ 15,771 $ 44,875 $ 43,352

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	8. Fair Value Measurements Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required to be recorded at fair value, we consider the principal or most advantageous market in which we would transact and consider assumptions that market participants would use when pricing the asset or liability, such as inherent risk, transfer restrictions, and risk of nonperformance. GAAP prescribes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. There are three levels of inputs that may be used to measure fair value: • Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities; • Level 2: inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; or • Level 3: unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Time deposits and corporate notes/bonds are classified within Level 1 of the fair value hierarchy because they are valued based on quoted market prices in active markets. The principal market in which we execute our foreign currency derivatives is the institutional market in an over-the-counter environment with a relatively high level of price transparency. The market participants usually are large financial institutions. Our foreign currency derivatives’ valuation inputs are based on quoted prices and quoted pricing intervals from public data sources and do not involve management judgment. These contracts are typically classified within Level 2 of the fair value hierarchy. Our significant financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2022 and September 30, 2021 were as follows: (in thousands) June 30, 2022 Level 1 Level 2 Level 3 Total Financial assets: Cash equivalents (1) $ 124,879 $ — $ — $ 124,879 Convertible note — — 2,000 2,000 Forward contracts — 2,392 — 2,392 $ 124,879 $ 2,392 $ 2,000 $ 129,271 Financial liabilities: Forward contracts — 1,572 — 1,572 $ — $ 1,572 $ — $ 1,572 (in thousands) September 30, 2021 Level 1 Level 2 Level 3 Total Financial assets: Cash equivalents (1) $ 114,375 $ — $ — $ 114,375 Convertible note — — 2,000 2,000 Equity securities — — 77,540 77,540 Forward contracts — 5,363 — 5,363 $ 114,375 $ 5,363 $ 79,540 $ 199,278 Financial liabilities: Forward contracts — 3,318 — 3,318 $ — $ 3,318 $ — $ 3,318 (1) Money market funds and time deposits. Level 3 Investments Convertible Note In the fourth quarter of 2021, we invested $ 2.0 million into a non-marketable convertible note. This debt security is classified as available-for-sale and is included in other assets on the Consolidated Balance Sheet. There were no changes in the fair value of this level 3 investment in the three and nine months ended June 30, 2022. Non-Marketable Equity Investments The carrying value of our non-marketable equity investments is recorded in other assets on the Consolidated Balance Sheets and totaled $ 1.0 million for the period ended June 30, 2022 and $ 2.2 million for the period ended September 30, 2021 . During the three months ended June 30, 2022, PTC sold a non-marketable equity investment for $ 4.2 million, which had been held at a cost of $ 1.2 million. The $ 3.0 million gain recognized on the sale is included in Other income (expense), net for the three and nine months ended June 30, 2022. Equity Securities As of June 30, 2022 , PTC held no remaining shares in Matterport, Inc., a publicly traded company, as we sold all previously held shares during the three months ended March 31, 2022. The shares sold included those held as of September 30, 2021, as well as additional shares which PTC earned during the second quarter of FY22 based on contingent earn-outs achieved in January. Shares related to the original investment were restricted from sale until January 2022 (six months after Matterport became a public company). At expiration of this lock-out, we sold all shares held from the original investment for $ 39.1 million at an average price of $ 9.1 per share. In February 2022, we sold an additional $ 3.6 million shares at an average share price of $ 7.6 per share. Due to the decline in the price per share during the first six months of fiscal 2022, we recognized a loss of $ 34.8 million in Other income (expense), net on the Consolidated Statements of Operations. No additional gains or losses have been recognized in the three months ended June 30, 2022 and the aggregate realized gain from the original investment of $ 8.7 million was $ 34.0 million. The following table provides a summary of changes in the fair value of our Level 3 investment in the Matterport, Inc. shares from October 1, 2021 to June 30, 2022: (in thousands) June 30, 2022 Fair Values Balance, October 1, 2021 $ 77,540 Realized loss ( 38,468 ) Sale of investment ( 39,072 ) Balance, June 30, 2022 $ —

Marketable Securities

Marketable Securities	9 Months Ended
	Jun. 30, 2022
Marketable Securities [Abstract]
Marketable Securities	9. Marketable Securities We did no t hold any marketable securities as of September 30, 2021 or June 30, 2022 . In December 2020, we sold our remaining marketable securities to partially fund the Arena acquisition, resulting in proceeds of $ 56.2 million. Neither gross realized gains nor gross realized losses related to the sale were material.

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Jun. 30, 2022
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	10. Derivative Financial Instruments We enter into derivative transactions, specifically foreign currency forward contracts and options, to manage our exposure to foreign currency exchange risk in order to reduce earnings volatility. We do not enter into derivative transactions for trading or speculative purposes. The following table shows our derivative instruments measured at gross fair value as reflected in the Consolidated Balance Sheets: (in thousands) Fair Value of Derivatives Designated As Hedging Instruments Fair Value of Derivatives Not Designated As Hedging Instruments June 30, September 30, June 30, September 30, Derivative assets (1) : Forward Contracts $ 771 $ 1,641 $ 1,621 $ 3,722 Derivative liabilities (2) : Forward Contracts $ — $ — $ 1,572 $ 3,318 (1) As of June 30, 2022 and September 30, 2021, current derivative assets of $ 2.4 million and $ 5.4 million, respectively, are recorded in other current assets in the Consolidated Balance Sheets. (2) As of June 30, 2022 and September 30, 2021, current derivative liabilities of $ 1.6 million and $ 3.3 million, respectively, are recorded in accrued expenses and other current liabilities in the Consolidated Balance Sheets. Non-Designated Hedges We hedge our net foreign currency monetary assets and liabilities primarily resulting from foreign currency denominated receivables and payables with foreign exchange forward contracts to reduce the risk that our earnings and cash flows will be adversely affected by changes in foreign currency exchange rates. These contracts have maturities of up to approximately three months . Generally, we do not designate these foreign currency forward contracts as hedges for accounting purposes and changes in the fair value of these instruments are recognized immediately in earnings. Because we enter into forward contracts only as an economic hedge, any gain or loss on the underlying foreign-denominated balance would be offset by the loss or gain on the forward contract. Gains and losses on forward contracts and foreign denominated receivables and payables are included in Other income (expense), net. As of June 30, 2022 and September 30, 2021, we had outstanding forward contracts with notional amounts equivalent to the following: Currency Hedged (in thousands) June 30, September 30, Canadian / U.S. Dollar $ 4,837 $ 4,894 Euro / U.S. Dollar 362,686 387,466 British Pound / U.S. Dollar 6,095 23,141 Israeli Shekel / U.S. Dollar 11,415 10,475 Japanese Yen / U.S. Dollar — 46,450 Swiss Franc / U.S. Dollar 9,272 18,039 Swedish Krona / U.S. Dollar 13,182 34,196 Singapore Dollar / U.S. Dollar 3,397 3,498 Chinese Renminbi / U.S. Dollar 7,975 23,297 New Taiwan Dollar / U.S. Dollar 15,758 3,369 Danish krone/ U.S. Dollar 2,900 2,380 Australian Dollar/ U.S. Dollar 3,068 2,086 All other 3,524 4,630 Total $ 444,109 $ 563,921 The following table shows the effect of our non-designated hedges in the Consolidated Statements of Operations for the three and nine months ended June 30, 2022 and June 30, 2021: (in thousands) Three months ended Nine months ended Location of Gain (Loss) June 30, June 30, June 30, June 30, Net realized and unrealized (gain) loss, excluding the underlying foreign currency exposure being hedged Other income (expense), net $ 3,399 $ ( 2,508 ) $ 3,761 $ ( 7,128 ) In the three months ended June 30, 2022 and June 30, 2021, foreign currency gains, net were $ 0.9 million and foreign currency losses, net were $ 2.0 million, respectively. In the nine months ended June 30, 2022 and June 30, 2021 foreign currency losses, net were $ 3.1 million and $ 6.1 million, respectively. Net Investment Hedges We translate balance sheet accounts of subsidiaries with foreign functional currencies into the U.S. Dollar using the exchange rate at each balance sheet date. Resulting translation adjustments are reported as a component of accumulated other comprehensive loss on the Consolidated Balance Sheets. We designate certain foreign exchange forward contracts as net investment hedges against exposure on translation of balance sheet accounts of Euro-functional subsidiaries. Net investment hedges partially offset the impact of foreign currency translation adjustment recorded in accumulated other comprehensive loss on the Consolidated Balance Sheets. All foreign exchange forward contracts are carried at fair value on the Consolidated Balance Sheets and the maximum duration of net investment hedge foreign exchange forward contracts is approximately three months . Net investment hedge relationships are designated at inception, and effectiveness is assessed retrospectively on a quarterly basis using the net equity position of Euro-functional subsidiaries. As the forward contracts are highly effective in offsetting exchange rate exposure, we record changes in these net investment hedges in accumulated other comprehensive loss and subsequently reclassify them to foreign currency translation adjustment in accumulated other comprehensive loss at the time of forward contract maturity. Changes in the fair value of foreign exchange forward contracts due to changes in time value are excluded from the assessment of effectiveness. Our derivatives are not subject to any credit contingent features. We manage credit risk with counterparties by trading among several counterparties and we review our counterparties’ credit at least quarterly. As of June 30, 2022 and September 30, 2021, we had outstanding forward contracts designated as net investment hedges with notional amounts equivalent to the following: Currency Hedged (in thousands) June 30, September 30, Euro / U.S. Dollar $ 114,651 $ 128,103 The following table shows the effect of our derivative instruments designated as net investment hedges in the Consolidated Statements of Operations for the three and nine months ended June 30, 2022 and June 30, 2021: (in thousands) Three months ended Nine months ended Location of Gain (Loss) June 30, June 30, June 30, June 30, Gain (loss) recognized in OCI OCI $ 1,082 $ ( 2,309 ) $ ( 1,993 ) $ ( 268 ) Gain (loss) reclassified from OCI OCI ( 4,281 ) 4,143 ( 11,431 ) 4,044 Gain recognized, excluded portion Other income (expense), net 515 267 1,124 1,000 As of June 30, 2022, we estimate that all amounts reported in accumulated other comprehensive loss will be applied against exposed balance sheet accounts upon translation within the next three months. Offsetting Derivative Assets and Liabilities We have entered into master netting arrangements for our forward contracts that allow net settlements under certain conditions. Although netting is permitted, it is currently our policy and practice to record all derivative assets and liabilities on a gross basis in the Consolidated Balance Sheets. The following table sets forth the offsetting of derivative assets as of June 30, 2022: (in thousands) Gross Amounts Offset in the Consolidated Balance Sheets Gross Amounts Not Offset in the Consolidated Balance Sheets As of June 30, 2022 Gross Gross Amounts Offset in the Consolidated Balance Sheets Net Amounts of Financial Cash Net Forward Contracts $ 2,392 $ — $ 2,392 $ ( 1,572 ) $ — $ 820 The following table sets forth the offsetting of derivative liabilities as of June 30, 2022: (in thousands) Gross Amounts Offset in the Consolidated Balance Sheets Gross Amounts Not Offset in the Consolidated Balance Sheets As of June 30, 2022 Gross Gross Net Amounts of Financial Cash Net Forward Contracts $ 1,572 $ — $ 1,572 $ ( 1,572 ) $ — $ —

Segment and Geographic Informat

Segment and Geographic Information	9 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Segment and Geographic Information	11. Segment and Geographic Information We operate within a single industry segment – computer software and related services. Operating segments as defined under GAAP are components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker, or decision-making group, in deciding how to allocate resources and in assessing performance. Our chief operating decision maker is our Chief Executive Officer. We have two operating and reportable segments: (1) Software Products, which includes license, subscription and related support revenue (including updates and technical support) for all our products; and (2) Professional Services, which includes consulting, implementation and training services. We do not allocate sales and marketing or general and administrative expense to our operating segments as these activities are managed on a consolidated basis. Additionally, segment profit does not include stock-based compensation, amortization of intangible assets, restructuring charges and certain other identified costs that we do not allocate to the segments for purposes of evaluating their operational performance. The revenue and profit attributable to our operating segments are summarized below. We do not produce asset information by reportable segment; therefore, it is not reported. (in thousands) Three months ended Nine months ended June 30, June 30, June 30, June 30, Software Products Revenue $ 423,400 $ 394,434 $ 1,299,243 $ 1,209,622 Operating costs (1) 127,964 116,617 365,008 331,328 Profit 295,436 277,817 934,235 878,294 Professional Services Revenue 39,074 41,234 126,179 116,882 Operating costs (2) 36,174 34,726 107,724 100,985 Profit 2,900 6,508 18,455 15,897 Total segment revenue 462,474 435,668 1,425,422 1,326,504 Total segment costs 164,138 151,343 472,732 432,313 Total segment profit 298,336 284,325 952,690 894,191 Unallocated operating expenses: Sales and marketing expenses 110,296 120,183 327,653 345,782 General and administrative expenses 32,303 31,235 97,339 90,122 Restructuring and other charges, net 4,458 ( 132 ) 36,887 584 Intangibles amortization 15,527 15,771 44,875 43,352 Stock-based compensation 49,420 43,068 133,283 133,896 Other unallocated operating expenses (3) 6,355 618 11,308 14,844 Total operating income 79,977 73,582 301,345 265,611 Interest and debt premium expense ( 13,758 ) ( 13,178 ) ( 38,983 ) ( 37,622 ) Other income (expense), net 34,559 ( 1,935 ) ( 2,642 ) ( 5,756 ) Income before income taxes $ 100,778 $ 58,469 $ 259,720 $ 222,233 (1) Operating costs for the Software Products segment include all costs of software revenue and research and development costs, excluding stock-based compensation and intangible amortization. (2) Operating costs for the Professional Services segment include all costs of professional services revenue, excluding stock-based compensation. (3) Other unallocated operating expenses include acquisition and transaction-related costs. Our international revenue is presented based on the location of our customer. Revenue for the geographic regions in which we operate is presented below. (in thousands) Three months ended Nine months ended June 30, June 30, June 30, (1) June 30, Americas $ 193,043 $ 180,154 $ 608,924 $ 562,763 Europe 176,419 159,558 561,690 524,354 Asia Pacific 93,012 95,956 254,808 239,387 Total revenue $ 462,474 $ 435,668 $ 1,425,422 $ 1,326,504 (1) Subsequent to filing our second quarter 2022 Form 10-Q, we identified an immaterial typographical error in the above disclosure. Revenue by region was transposed for Europe and Asia Pacific for the three and six-months ended March 31, 2022. Amounts presented above for the nine months ended June 30, 2022 reflect the corrected amounts.

Income Taxes

Income Taxes	9 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	12. Income Taxes (in thousands) Three months ended Nine months ended June 30, June 30, June 30, June 30, Income before income taxes $ 100,778 $ 58,469 $ 259,720 $ 222,233 Provision for income taxes $ 30,302 $ 7,266 $ 53,476 $ 38,253 Effective income tax rate 30 % 12 % 21 % 17 % In the third quarter and first nine months of 2022 and 2021, our effective tax rate differed from the statutory federal income tax rate of 21 % due to our corporate structure in which our foreign taxes are at a net effective tax rate lower than the U.S. rate. A significant amount of our foreign earnings is generated by our subsidiaries organized in Ireland and the Cayman Islands. In 2022 and 2021, the foreign rate differential predominantly relates to these earnings. In 2022 and 2021, in addition to the foreign rate differential, the effective tax rate was impacted by the net effects of the Global Intangible Low-Taxed Income (GILTI) and Foreign Derived Intangible Income (FDII) regimes and the excess tax benefit related to stock-based compensation. Additionally, in the third quarter and first nine months of FY’22 our results include tax expense related to the sale of a portion of our PLM services business of $ 15.5 million, including $ 8.1 million of expense which relates to the basis difference on goodwill. In the third quarter and first nine months of 2021, our results also include the effects of the full valuation allowance, which was maintained against our U.S. net deferred tax assets at that time. Additionally, in the first nine months of 2021, our results include the reduction of our previously established U.S. valuation allowance by $ 42.3 million as a result of the Arena acquisition and a charge of $ 37.3 million related to the effects of an unrecognized tax benefit in the Republic of Korea (South Korea), primarily related to foreign withholding taxes. We reassess our valuation allowance requirements each financial reporting period. We assess available positive and negative evidence to estimate whether sufficient future taxable income will be generated to use our existing deferred tax assets. In the assessment for the period ended September 30, 2021, we concluded it was more likely than not that our deferred tax assets related to United States federal and state income would be realizable, and therefore, the United States federal and the majority of the state valuation allowances were released in the fourth quarter of 2021. In the third quarter of 2022, we continue to maintain this conclusion. In the normal course of business, PTC and its subsidiaries are examined by various taxing authorities, including the Internal Revenue Service in the U.S. We regularly assess the likelihood of additional assessments by tax authorities and provide for these matters as appropriate. We are currently under audit by tax authorities in several jurisdictions. Audits by tax authorities typically involve examination of the deductibility of certain permanent items, limitations on net operating losses and tax credits. As of June 30, 2022 and September 30, 2021, we had unrecognized tax benefits of $ 24.1 million and $ 21.2 million, respectively. If all our unrecognized tax benefits as of June 30, 2022 were to become recognizable in the future, we would record a benefit to the income tax provision of $ 24.1 million, which would be partially offset by an increase in the U.S. valuation allowance of $ 4.9 million. Although we believe our tax estimates are appropriate, the final determination of tax audits and any related litigation could result in favorable or unfavorable changes in our estimates. We believe it is reasonably possible that within the next 12 months the amount of unrecognized tax benefits related to the resolution of multi-jurisdictional tax positions could be reduced by up to $ 3 million.

Debt

Debt	9 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Debt	13. Debt At June 30, 2022 and September 30, 2021, we had the following long-term debt obligations: (in thousands) June 30, September 30, 4.000% Senior notes due 2028 $ 500,000 $ 500,000 3.625% Senior notes due 2025 500,000 500,000 Credit facility revolver (1) 434,000 450,000 Total debt 1,434,000 1,450,000 Unamortized debt issuance costs for the senior notes (2) ( 8,916 ) ( 10,529 ) Total debt, net of issuance costs $ 1,425,084 $ 1,439,471 (1) Unamortized debt issuance costs related to the credit facility were $ 3.0 million and $ 3.8 million as of June 30, 2022 and September 30, 2021, respectively, and are included in other assets on the Consolidated Balance Sheets. (2) Unamortized debt issuance costs are included in long-term debt on the Consolidated Balance Sheets. Senior Unsecured Notes In February 2020, we issued $ 500 million in aggregate principal amount of 4.0 % senior, unsecured long-term debt at par value, due in 2028 (the 2028 notes) and $ 500 million in aggregate principal amount of 3.625 % senior, unsecured long-term debt at par value, due in 2025 (the 2025 notes). As of June 30, 2022, the total estimated fair value of the 2028 and 2025 notes was approximately $ 462.4 million and $ 476.2 million, respectively, based on quoted prices for the notes on that date. We were in compliance with all the covenants for our senior notes as of June 30, 2022. Terms of the 2028 and 2025 Notes Interest on the 2028 and 2025 notes is payable semi-annually on February 15 and August 15. The debt indenture for the 2028 and 2025 notes includes covenants that limit our ability to, among other things, incur additional debt, grant liens on our properties or capital stock, enter into sale and leaseback transactions or asset sales, and make capital distributions. We may, on one or more occasions, redeem the 2028 and 2025 notes in whole or in part at specified redemption prices. In certain circumstances constituting a change of control, we will be required to make an offer to repurchase the notes at a purchase price equal to 101 % of the aggregate principal amount of the notes, plus accrued and unpaid interest. Our ability to repurchase the notes upon such event may be limited by law, by the indenture associated with the notes, by our then-available financial resources or by the terms of other agreements to which we may be party at such time. If we fail to repurchase the notes as required by the indenture, it would constitute an event of default under the indenture which, in turn, may also constitute an event of default under other obligations. Credit Agreement In February 2020, we entered into a Third Amended and Restated Credit Agreement with JPMorgan Chase Bank, N.A., as Administrative Agent, for a new secured multi-currency bank credit facility with a syndicate of banks. We expect to use the credit facility for general corporate purposes, including acquisitions of businesses, share repurchases and working capital requirements. The credit facility consists of a $ 1 billion revolving credit facility, which may be increased by up to an additional $ 500 million in the aggregate if the existing or additional lenders are willing to make such increased commitments. The maturity date of the credit facility is February 13, 2025 , when all remaining amounts outstanding will be due and payable. The revolving loan commitment does not require amortization of principal and may be repaid in whole or in part prior to the scheduled maturity date at our option without penalty or premium. As of June 30, 2022, the fair value of our credit facility approximates its book value. PTC and certain eligible foreign subsidiaries are eligible borrowers under the credit facility. Any borrowings by PTC Inc. under the credit facility would be guaranteed by PTC Inc.’s material domestic subsidiaries that become parties to the subsidiary guaranty, if any. As of the filing of this Form 10-Q, there are no subsidiary guarantors of the obligations under the credit facility. Any borrowings by eligible foreign subsidiary borrowers would be guaranteed by PTC Inc. and any subsidiary guarantors. As of the filing of this Form 10-Q, no funds were borrowed by an eligible foreign subsidiary borrower. In addition, owned property (including equity interests) of PTC and certain of its material domestic subsidiaries' owned property is subject to first priority perfected liens in favor of the lenders under this credit facility. 100 % of the voting equity interests of certain of PTC’s domestic subsidiaries and 65 % of its material first-tier foreign subsidiaries are pledged as collateral for the obligations under the credit facility. Loans under the credit facility bear interest at variable rates which reset every 30 to 180 days depending on the rate and period selected by PTC as described below. As of June 30, 2022, the annual rate for borrowings outstanding was 2.67 % . Interest rates on borrowings outstanding under the credit facility range from 1.25 % to 1.75 % above an adjusted LIBO rate (or an agreed successor rate) for Euro currency borrowings or range from 0.25 % to 0.75 % above the defined base rate (the greater of the Prime Rate, the NYFRB rate plus 0.5 %, or an adjusted LIBO rate plus 1 %) for base rate borrowings, in each case based upon PTC’s total leverage ratio. A quarterly commitment fee on the undrawn portion of the credit facility is required, ranging from 0.175 % to 0.30 % per annum based upon PTC’s total leverage ratio. The credit facility limits PTC’s and its subsidiaries’ ability to, among other things: incur additional indebtedness, incur liens or guarantee obligations; pay dividends (other than to PTC) and make other distributions; make investments and enter into joint ventures; dispose of assets; and engage in transactions with affiliates, except on an arms-length basis. Under the credit facility, PTC and its material domestic subsidiaries may not invest cash or property in, or loan to, PTC’s foreign subsidiaries in aggregate amounts exceeding $ 100 million for any purpose and an additional $ 200 million for acquisitions of businesses. In addition, under the credit facility, PTC and its subsidiaries must maintain the following financial ratios: • Total leverage ratio, defined as consolidated funded indebtedness to consolidated trailing four quarters EBITDA, not to exceed 4.50 to 1.00 as of the last day of any fiscal quarter; • Senior secured leverage ratio, defined as senior consolidated total indebtedness (which excludes unsecured indebtedness) to the consolidated trailing four quarters EBITDA, not to exceed 3.00 to 1.00 as of the last day of any fiscal quarter; and • Interest coverage ratio, defined as the ratio of consolidated trailing four quarters EBITDA to consolidated trailing four quarters of cash basis interest expense, of not less than 3.00 to 1.00 as of the last day of any fiscal quarter. As of June 30, 2022, our total leverage ratio was 1.97 to 1.00, our senior secured leverage ratio was 0.61 to 1.00 and our interest coverage ratio was 13.74 to 1.00 and we were in compliance with all financial and operating covenants of the credit facility. Any failure to comply with the financial or operating covenants of the credit facility would prevent PTC from being able to borrow additional funds, and would constitute a default, permitting the lenders to, among other things, accelerate the amounts outstanding, including all accrued interest and unpaid fees, under the credit facility and to terminate the credit facility. A change in control of PTC, as defined in the agreement, also constitutes an event of default, permitting the lenders to accelerate the indebtedness and terminate the credit facility. In the third quarter and first nine months of 2022, we paid $ 2.1 million and $ 25.9 million of interest on our debt, respectively, and $ 3.2 million and $ 23.7 million in the third quarter and first nine months of 2021, respectively. The average interest rate on borrowings outstanding was approximately 3.4 % and 3.3 % during the third quarter and first nine months of 2022, respectively, and 3.1 % and 3.4 % during the third quarter and first nine months of 2021 , respectively.

Leases

Leases	9 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Leases	14. Leases Our operating leases expire at various dates through 2037 and are primarily for office space, automobiles, servers, and office equipment. Our headquarters are located at 121 Seaport Boulevard, Boston, Massachusetts. In February 2019, we subleased a portion of our headquarters through June 30, 2022, and received approximately $ 9.1 million in sublease income over the term of the sublease. In March 2022, we extended the sublease through June 30, 2023, and we will receive $ 2.9 million in sublease income over the term of the extension. The components of lease cost reflected in the Consolidated Statement of Operations for the three and nine months ended June 30, 2022 and June 30, 2021 were as follows: (in thousands) Three months ended Nine months ended June 30, June 30, June 30, June 30, Operating lease cost $ 8,613 $ 9,075 $ 26,149 $ 28,031 Short-term lease cost 812 627 1,935 1,785 Variable lease cost 2,608 2,443 7,694 7,306 Sublease income ( 1,176 ) ( 1,114 ) ( 3,406 ) ( 3,329 ) Total lease cost $ 10,857 $ 11,031 $ 32,372 $ 33,793 Supplemental cash flow and right-of-use assets information for the three and nine months ended June 30, 2022 was as follows: (in thousands) Three months ended Nine months ended June 30, June 30, June 30, June 30, Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 10,087 $ 12,319 $ 35,200 $ 40,396 Financing cash flows from financing leases $ — $ — $ 239 $ 279 Right-of-use assets obtained in exchange for new lease obligations: Operating leases $ 730 $ 126 $ 11,825 $ 773 Financing leases $ — $ — $ — $ — Supplemental balance sheet information related to the leases as of June 30, 2022 was as follows: Weighted-average remaining lease term - operating leases 11.9 years Weighted-average remaining lease term - financing leases 2.1 years Weighted-average discount rate - operating leases 5.4 % Weighted-average discount rate - financing leases 3.0 % Maturities of lease liabilities as of June 30, 2022 are as follows: (in thousands) Remainder of 2022 $ 9,139 2023 30,971 2024 26,710 2025 23,816 2026 19,853 Thereafter 160,184 Total future lease payments $ 270,673 Less: imputed interest ( 75,837 ) Total lease liability $ 194,836 As of June 30, 2022 we had an operating lease that had not yet commenced. The lease will commence in FY'23 with a lease term of 10 years and we will make future lease payments of approximately $ 11.6 million. Exited (Restructured) Facilities As of June 30, 2022, we had net liabilities of $ 0.7 million related to excess facilities (compared to $ 3.6 million at September 30, 2021), representing $ 0.2 million of right-of-use assets and $ 0.9 million of lease obligations, all of which is classified as short term. Variable costs related to these exited facilities are included in our restructuring accrual. All expenses and income associated with exited facilities are included in restructuring and other charges, net (refer to Note 3. Restructuring and Other Charges ). In determining the amount of right-of-use assets for restructured facilities, we are required to estimate such factors as future vacancy rates, the time required to sublet properties and sublease rates. Updates to these estimates may result in revisions to the value of right-of-use assets recorded. The amounts recorded are based on the net present value of estimated sublease income. As of June 30, 2022, the right-of-use assets for exited facilities reflects discounted committed sublease income of approximately $ 0.2 million. In the three and nine months ended June 30, 2022, we made payments of $ 0.7 million and $ 1.9 million, respectively, related to lease costs for exited facilities. In the three and nine months ended June 30, 2021, we made payments of $ 1.2 million and $ 7.5 million, respectively.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Jun. 30, 2022
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	15. Commitments and Contingencies As June 30, 2022 and June 30, 2021, we had letters of credit and bank guarantees outstanding of $ 15.2 million (of which $ 0.5 million was collateralized) and $ 16.3 million (of which $ 0.5 million was collateralized), respectively, primarily related to our corporate headquarters lease. Legal and Regulatory Matters Legal Proceedings With respect to legal proceedings and claims, we record an accrual for a contingency when it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. 401(k) Plan On September 17, 2020 , three individual plaintiffs filed a putative class action lawsuit against PTC, the Investment Committee for the PTC Inc. 401(k) Plan (“Plan”), and the Board of Directors (collectively, the “PTC Defendants”) in the U.S. District Court for the District of Massachusetts alleging claims regarding the Plan. Plaintiffs allege that the defendants breached their fiduciary duties under the Employee Retirement Income Security Act of 1974 ("ERISA") in the oversight of the Plan, principally by allegedly selecting and retaining certain investment options despite fees and costs that were higher than other available investment options, causing participants in the Plan to pay excessive recordkeeping fees and suffer lower returns on their investments, and by allegedly failing to monitor other fiduciaries. The plaintiffs sought unspecified damages on behalf of a class of Plan participants from September 17, 2014 through the date of any judgment. On September 22, 2021, the plaintiffs and the PTC Defendants reached an agreement in principle to settle the lawsuit for a gross settlement amount of $ 1.725 million. The settlement received preliminary approval from the Court on May 12, 2022, and a Fairness Hearing is scheduled for September 14, 2022. The ultimate outcome by judgment or settlement is not expected to be material to our financial position, results of operations or cash flows. Other Legal Proceedings In addition to the matter listed above, we are subject to legal proceedings and claims against us in the ordinary course of business. As of June 30, 2022, we estimate that the range of possible outcomes for such matters is immaterial and we do not believe that resolving them will have a material adverse impact on our financial condition, results of operations or cash flows. However, the results of legal proceedings cannot be predicted with certainty. Should any of these legal proceedings and claims be resolved against us, the operating results for a reporting period could be adversely affected. Guarantees and Indemnification Obligations We enter into standard indemnification agreements with our customers and business partners in the ordinary course of our business. Under such agreements, we typically indemnify, hold harmless, and agree to reimburse the indemnified party for losses suffered or incurred by the indemnified party, in connection with patent, copyright or other intellectual property infringement claims by any third party with respect to our products. Indemnification may also cover other types of claims, including claims relating to certain data breaches. Except for intellectual property infringement indemnification, these agreements typically limit our liability with respect to other indemnification claims. Historically, our costs to defend lawsuits or settle claims relating to such indemnity agreements have been minimal and, accordingly, we believe the estimated fair value of liabilities under these agreements is immateria l. We warrant that our software products will perform in all material respects in accordance with our standard published specifications during the term of the license/subscription. Additionally, we generally warrant that our consulting services will be performed consistent with generally accepted industry standards and, in the case of fixed price services, the agreed-upon specifications. In most cases, liability for these warranties is capped. If necessary, we would provide for the estimated cost of product and service warranties based on specific warranty claims and claim history; however, we have not incurred significant cost under our product or services warranties. As a result, we believe the estimated fair value of these liabilities is immaterial.

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	9 Months Ended
	Jun. 30, 2022
Revenue From Contract With Customer [Abstract]
Schedule of Contract Assets and Liabilities	Contract Assets and Contract Liabilities (in thousands) June 30, September 30, Contract asset $ 17,869 $ 12,934 Deferred revenue $ 495,473 $ 497,677
Disaggregation of Revenue	Disaggregation of Revenue (in thousands) Three months ended Nine months ended June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Recurring revenue (1) $ 415,197 $ 387,175 $ 1,273,032 $ 1,186,978 Perpetual license 8,203 7,259 26,211 22,644 Professional services 39,074 41,234 126,179 116,882 Total revenue $ 462,474 $ 435,668 $ 1,425,422 $ 1,326,504 (1) Recurring revenue is comprised of on-premise subscription, perpetual support, SaaS, and cloud services revenue.

Restructuring and Other Charg_2

Restructuring and Other Charges (Tables)	9 Months Ended
	Jun. 30, 2022
Restructuring And Related Activities [Abstract]
Schedule of Restructuring Reserve by Type of Cost	The following table summarizes restructuring accrual activity for the nine months ended June 30, 2022: (in thousands) Employee Severance and Related Benefits Facility Closures and Related Costs Total Accrual, October 1, 2021 $ 1,981 $ 3,505 $ 5,486 Charges to operations, net 33,471 ( 721 ) 32,750 Cash disbursements ( 31,965 ) ( 2,159 ) ( 34,124 ) Foreign exchange impact ( 550 ) — ( 550 ) Accrual, June 30, 2022 $ 2,937 $ 625 $ 3,562 The following table summarizes restructuring accrual activity for the nine months ended June 30, 2021: (in thousands) Employee Severance and Related Benefits Facility Closures and Related Costs Total Accrual, October 1, 2020 $ 3,992 $ 5,995 $ 9,987 Charges to operations, net 162 183 345 Cash disbursements ( 3,925 ) ( 2,303 ) ( 6,228 ) Foreign exchange impact 33 17 50 Accrual, June 30, 2021 $ 262 $ 3,892 $ 4,154

Stock-based Compensation (Table

Stock-based Compensation (Tables)	9 Months Ended
	Jun. 30, 2022
Share Based Compensation Allocation And Classification In Financial Statements [Abstract]
Schedule of RSU Activity	The following table shows RSU activity for the nine months ended June 30, 2022: (in thousands, except grant date fair value data) Number of Weighted-Average Balance of outstanding restricted stock units, October 1, 2021 3,217 $ 92.46 Granted (1) 1,609 $ 114.18 Vested ( 1,728 ) $ 92.83 Forfeited or not earned ( 318 ) $ 98.55 Balance of outstanding restricted stock units, June 30, 2022 2,780 $ 104.93 (1) Restricted stock units granted includes 37 shares from prior period rTSR awards that were earned upon achievement of the performance criteria and vested in November 2021 , and 87 shares from prior period Performance-based awards that were earned upon achievement of the performance criteria and vested in November 2021.
Schedule of Number of RSU Awards Granted by Award Type	The following table presents the number of RSU awards granted by award type: (in thousands) Nine months ended Performance-based RSUs (1) 89 Service-based RSUs (2) 1,320 Relative Total Shareholder Return RSUs (3) 76 (1) The performance-based RSUs were granted to our executives and are eligible to vest based upon annual increasing performance measures over a three-year period. To the extent earned, those performance-based RSUs will vest in three substantially equal installments on November 15, 2022, November 15, 2023, and November 15, 2024, or the date the Compensation Committee determines the extent to which the applicable performance criteria have been achieved for each performance period. Up to a maximum of two times the number of RSUs can be earned (a maximum aggregate of 165 RSUs). (2) The service-based RSUs were granted to employees, including our executive officers. Substantially all service-based RSUs will vest in three substantially equal annual installments on or about the anniversary of the date of grant. (3) The relative Total Shareholder Return RSUs (rTSR RSUs) were granted to our executives and are eligible to vest based on the performance of PTC stock relative to the stock performance of an index of PTC peer companies established as of the grant date, as determined at the end of the measurement period ending on September 30, 2024. The RSUs earned will vest on November 15, 2024. Up to a maximum of two times the number of rTSR RSUs eligible to be earned for the period (up to a maximum aggregate of 152 RSUs) may vest. If the return to PTC shareholders is negative for the period but still meets or exceeds the peer group indexed return, a maximum of 100 % of the rTSR RSUs may vest.
Schedule of Valuation Assumptions	The significant assumptions used in the Monte Carlo simulation model were as follows: Average volatility of peer group 34.67 % Risk free interest rate 0.81 % Dividend yield — %
Schedule of Classification of Compensation Expense	Compensation expense recorded for our stock-based awards is classified in our Consolidated Statements of Operations as follows: (in thousands) Three months ended Nine months ended June 30, June 30, June 30, June 30, Cost of license revenue $ 338 $ 26 $ 413 $ 66 Cost of support and cloud services revenue 2,544 2,611 8,183 7,222 Cost of professional services revenue 5,547 2,457 10,069 6,746 Sales and marketing 14,029 14,229 38,556 42,533 Research and development 11,002 8,514 30,682 24,878 General and administrative 15,960 15,231 45,380 52,451 Total stock-based compensation expense $ 49,420 $ 43,068 $ 133,283 $ 133,896

Earnings per Share (EPS) and _2

Earnings per Share (EPS) and Common Stock (Tables)	9 Months Ended
	Jun. 30, 2022
Earnings Per Share And Common Stock [Abstract]
Earnings per Share Basic and Diluted	The following table presents the calculation for both basic and diluted EPS: (in thousands, except per share data) Three months ended Nine months ended June 30, June 30, June 30, June 30, Net income $ 70,476 $ 51,203 $ 206,244 $ 183,980 Weighted-average shares outstanding—Basic 117,073 116,934 117,114 116,702 Dilutive effect of restricted stock units 895 1,677 983 1,479 Weighted-average shares outstanding—Diluted 117,968 118,611 118,097 118,181 Earnings per share—Basic $ 0.60 $ 0.44 $ 1.76 $ 1.58 Earnings per share—Diluted $ 0.60 $ 0.43 $ 1.75 $ 1.56

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Jun. 30, 2022
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Goodwill and Acquired Intangible Assets	Goodwill and acquired intangible assets consisted of the following: (in thousands) June 30, 2022 September 30, 2021 Gross Accumulated Net Book Gross Accumulated Net Book Goodwill (not amortized) $ 2,382,680 $ 2,191,887 Intangible assets with finite lives (amortized): Purchased software 503,579 352,587 150,992 $ 483,771 $ 338,542 $ 145,229 Capitalized software 22,877 22,877 — 22,877 22,877 — Customer lists and relationships 604,261 367,082 237,179 574,516 350,648 223,868 Trademarks and trade names 27,865 17,402 10,463 26,906 17,036 9,870 Other 3,856 3,856 — 4,000 4,000 — Total intangible assets with finite lives $ 1,162,438 $ 763,804 $ 398,634 $ 1,112,070 $ 733,103 $ 378,967 Total goodwill and acquired intangible assets $ 2,781,314 $ 2,570,854
Schedule of Changes in Goodwill by Reportable Segments	Changes in goodwill presented by reportable segments were as follows: (in thousands) Software Professional Total Balance, October 1, 2021 $ 2,148,968 $ 42,919 $ 2,191,887 Acquisition 240,709 — 240,709 Divestiture of business — ( 32,992 ) ( 32,992 ) Foreign currency translation adjustment ( 16,755 ) ( 169 ) ( 16,924 ) Balance, June 30, 2022 $ 2,372,922 $ 9,758 $ 2,382,680
Schedule of Aggregate Amortization Expense for Intangible Assets with Finite Lives	The aggregate amortization expense for intangible assets with finite lives is classified in our Consolidated Statements of Operations as follows: (in thousands) Three months ended Nine months ended June 30, June 30, June 30, June 30, Amortization of acquired intangible assets $ 8,931 $ 7,511 $ 25,865 $ 21,708 Cost of license revenue 6,596 8,260 19,010 21,644 Total amortization expense $ 15,527 $ 15,771 $ 44,875 $ 43,352

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value, by Balance Sheet Grouping	Our significant financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2022 and September 30, 2021 were as follows: (in thousands) June 30, 2022 Level 1 Level 2 Level 3 Total Financial assets: Cash equivalents (1) $ 124,879 $ — $ — $ 124,879 Convertible note — — 2,000 2,000 Forward contracts — 2,392 — 2,392 $ 124,879 $ 2,392 $ 2,000 $ 129,271 Financial liabilities: Forward contracts — 1,572 — 1,572 $ — $ 1,572 $ — $ 1,572 (in thousands) September 30, 2021 Level 1 Level 2 Level 3 Total Financial assets: Cash equivalents (1) $ 114,375 $ — $ — $ 114,375 Convertible note — — 2,000 2,000 Equity securities — — 77,540 77,540 Forward contracts — 5,363 — 5,363 $ 114,375 $ 5,363 $ 79,540 $ 199,278 Financial liabilities: Forward contracts — 3,318 — 3,318 $ — $ 3,318 $ — $ 3,318
Schedule of Changes in Fair Value of Level 3 Investment	The following table provides a summary of changes in the fair value of our Level 3 investment in the Matterport, Inc. shares from October 1, 2021 to June 30, 2022: (in thousands) June 30, 2022 Fair Values Balance, October 1, 2021 $ 77,540 Realized loss ( 38,468 ) Sale of investment ( 39,072 ) Balance, June 30, 2022 $ —

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	9 Months Ended
	Jun. 30, 2022
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The following table shows our derivative instruments measured at gross fair value as reflected in the Consolidated Balance Sheets: (in thousands) Fair Value of Derivatives Designated As Hedging Instruments Fair Value of Derivatives Not Designated As Hedging Instruments June 30, September 30, June 30, September 30, Derivative assets (1) : Forward Contracts $ 771 $ 1,641 $ 1,621 $ 3,722 Derivative liabilities (2) : Forward Contracts $ — $ — $ 1,572 $ 3,318 (1) As of June 30, 2022 and September 30, 2021, current derivative assets of $ 2.4 million and $ 5.4 million, respectively, are recorded in other current assets in the Consolidated Balance Sheets. (2) As of June 30, 2022 and September 30, 2021, current derivative liabilities of $ 1.6 million and $ 3.3 million, respectively, are recorded in accrued expenses and other current liabilities in the Consolidated Balance Sheets.
Schedule of Notional Amounts of Outstanding Forward Contracts and Options	As of June 30, 2022 and September 30, 2021, we had outstanding forward contracts with notional amounts equivalent to the following: Currency Hedged (in thousands) June 30, September 30, Canadian / U.S. Dollar $ 4,837 $ 4,894 Euro / U.S. Dollar 362,686 387,466 British Pound / U.S. Dollar 6,095 23,141 Israeli Shekel / U.S. Dollar 11,415 10,475 Japanese Yen / U.S. Dollar — 46,450 Swiss Franc / U.S. Dollar 9,272 18,039 Swedish Krona / U.S. Dollar 13,182 34,196 Singapore Dollar / U.S. Dollar 3,397 3,498 Chinese Renminbi / U.S. Dollar 7,975 23,297 New Taiwan Dollar / U.S. Dollar 15,758 3,369 Danish krone/ U.S. Dollar 2,900 2,380 Australian Dollar/ U.S. Dollar 3,068 2,086 All other 3,524 4,630 Total $ 444,109 $ 563,921 As of June 30, 2022 and September 30, 2021, we had outstanding forward contracts designated as net investment hedges with notional amounts equivalent to the following: Currency Hedged (in thousands) June 30, September 30, Euro / U.S. Dollar $ 114,651 $ 128,103
Schedule of Net Gains and Losses on Foreign Currency Exposures	The following table shows the effect of our non-designated hedges in the Consolidated Statements of Operations for the three and nine months ended June 30, 2022 and June 30, 2021: (in thousands) Three months ended Nine months ended Location of Gain (Loss) June 30, June 30, June 30, June 30, Net realized and unrealized (gain) loss, excluding the underlying foreign currency exposure being hedged Other income (expense), net $ 3,399 $ ( 2,508 ) $ 3,761 $ ( 7,128 ) The following table shows the effect of our derivative instruments designated as net investment hedges in the Consolidated Statements of Operations for the three and nine months ended June 30, 2022 and June 30, 2021: (in thousands) Three months ended Nine months ended Location of Gain (Loss) June 30, June 30, June 30, June 30, Gain (loss) recognized in OCI OCI $ 1,082 $ ( 2,309 ) $ ( 1,993 ) $ ( 268 ) Gain (loss) reclassified from OCI OCI ( 4,281 ) 4,143 ( 11,431 ) 4,044 Gain recognized, excluded portion Other income (expense), net 515 267 1,124 1,000
Schedule of Offsetting Assets	The following table sets forth the offsetting of derivative assets as of June 30, 2022: (in thousands) Gross Amounts Offset in the Consolidated Balance Sheets Gross Amounts Not Offset in the Consolidated Balance Sheets As of June 30, 2022 Gross Gross Amounts Offset in the Consolidated Balance Sheets Net Amounts of Financial Cash Net Forward Contracts $ 2,392 $ — $ 2,392 $ ( 1,572 ) $ — $ 820
Schedule of Offsetting Liabilities	The following table sets forth the offsetting of derivative liabilities as of June 30, 2022: (in thousands) Gross Amounts Offset in the Consolidated Balance Sheets Gross Amounts Not Offset in the Consolidated Balance Sheets As of June 30, 2022 Gross Gross Net Amounts of Financial Cash Net Forward Contracts $ 1,572 $ — $ 1,572 $ ( 1,572 ) $ — $ —

Segment and Geographic Inform_2

Segment and Geographic Information (Tables)	9 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Summary of Revenue and Profit Attributable to Our Operating Segments	The revenue and profit attributable to our operating segments are summarized below. We do not produce asset information by reportable segment; therefore, it is not reported. (in thousands) Three months ended Nine months ended June 30, June 30, June 30, June 30, Software Products Revenue $ 423,400 $ 394,434 $ 1,299,243 $ 1,209,622 Operating costs (1) 127,964 116,617 365,008 331,328 Profit 295,436 277,817 934,235 878,294 Professional Services Revenue 39,074 41,234 126,179 116,882 Operating costs (2) 36,174 34,726 107,724 100,985 Profit 2,900 6,508 18,455 15,897 Total segment revenue 462,474 435,668 1,425,422 1,326,504 Total segment costs 164,138 151,343 472,732 432,313 Total segment profit 298,336 284,325 952,690 894,191 Unallocated operating expenses: Sales and marketing expenses 110,296 120,183 327,653 345,782 General and administrative expenses 32,303 31,235 97,339 90,122 Restructuring and other charges, net 4,458 ( 132 ) 36,887 584 Intangibles amortization 15,527 15,771 44,875 43,352 Stock-based compensation 49,420 43,068 133,283 133,896 Other unallocated operating expenses (3) 6,355 618 11,308 14,844 Total operating income 79,977 73,582 301,345 265,611 Interest and debt premium expense ( 13,758 ) ( 13,178 ) ( 38,983 ) ( 37,622 ) Other income (expense), net 34,559 ( 1,935 ) ( 2,642 ) ( 5,756 ) Income before income taxes $ 100,778 $ 58,469 $ 259,720 $ 222,233 (1) Operating costs for the Software Products segment include all costs of software revenue and research and development costs, excluding stock-based compensation and intangible amortization. (2) Operating costs for the Professional Services segment include all costs of professional services revenue, excluding stock-based compensation. (3) Other unallocated operating expenses include acquisition and transaction-related costs.
Summary of Revenue for Geographic Regions	Our international revenue is presented based on the location of our customer. Revenue for the geographic regions in which we operate is presented below. (in thousands) Three months ended Nine months ended June 30, June 30, June 30, (1) June 30, Americas $ 193,043 $ 180,154 $ 608,924 $ 562,763 Europe 176,419 159,558 561,690 524,354 Asia Pacific 93,012 95,956 254,808 239,387 Total revenue $ 462,474 $ 435,668 $ 1,425,422 $ 1,326,504 (1) Subsequent to filing our second quarter 2022 Form 10-Q, we identified an immaterial typographical error in the above disclosure. Revenue by region was transposed for Europe and Asia Pacific for the three and six-months ended March 31, 2022. Amounts presented above for the nine months ended June 30, 2022 reflect the corrected amounts.

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Summary of Income Taxes	(in thousands) Three months ended Nine months ended June 30, June 30, June 30, June 30, Income before income taxes $ 100,778 $ 58,469 $ 259,720 $ 222,233 Provision for income taxes $ 30,302 $ 7,266 $ 53,476 $ 38,253 Effective income tax rate 30 % 12 % 21 % 17 %

Debt (Tables)

Debt (Tables)	9 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Schedule of Long-term Debt Obligations	At June 30, 2022 and September 30, 2021, we had the following long-term debt obligations: (in thousands) June 30, September 30, 4.000% Senior notes due 2028 $ 500,000 $ 500,000 3.625% Senior notes due 2025 500,000 500,000 Credit facility revolver (1) 434,000 450,000 Total debt 1,434,000 1,450,000 Unamortized debt issuance costs for the senior notes (2) ( 8,916 ) ( 10,529 ) Total debt, net of issuance costs $ 1,425,084 $ 1,439,471 (1) Unamortized debt issuance costs related to the credit facility were $ 3.0 million and $ 3.8 million as of June 30, 2022 and September 30, 2021, respectively, and are included in other assets on the Consolidated Balance Sheets. (2) Unamortized debt issuance costs are included in long-term debt on the Consolidated Balance Sheets.

Leases (Tables)

Leases (Tables)	9 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Components of Lease Cost	The components of lease cost reflected in the Consolidated Statement of Operations for the three and nine months ended June 30, 2022 and June 30, 2021 were as follows: (in thousands) Three months ended Nine months ended June 30, June 30, June 30, June 30, Operating lease cost $ 8,613 $ 9,075 $ 26,149 $ 28,031 Short-term lease cost 812 627 1,935 1,785 Variable lease cost 2,608 2,443 7,694 7,306 Sublease income ( 1,176 ) ( 1,114 ) ( 3,406 ) ( 3,329 ) Total lease cost $ 10,857 $ 11,031 $ 32,372 $ 33,793 Supplemental cash flow and right-of-use assets information for the three and nine months ended June 30, 2022 was as follows: (in thousands) Three months ended Nine months ended June 30, June 30, June 30, June 30, Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 10,087 $ 12,319 $ 35,200 $ 40,396 Financing cash flows from financing leases $ — $ — $ 239 $ 279 Right-of-use assets obtained in exchange for new lease obligations: Operating leases $ 730 $ 126 $ 11,825 $ 773 Financing leases $ — $ — $ — $ — Supplemental balance sheet information related to the leases as of June 30, 2022 was as follows: Weighted-average remaining lease term - operating leases 11.9 years Weighted-average remaining lease term - financing leases 2.1 years Weighted-average discount rate - operating leases 5.4 % Weighted-average discount rate - financing leases 3.0 %
Schedule of Maturities of Lease Liabilities	Maturities of lease liabilities as of June 30, 2022 are as follows: (in thousands) Remainder of 2022 $ 9,139 2023 30,971 2024 26,710 2025 23,816 2026 19,853 Thereafter 160,184 Total future lease payments $ 270,673 Less: imputed interest ( 75,837 ) Total lease liability $ 194,836

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Schedule of Contract Assets and Contract Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Sep. 30, 2021
Revenue From Contract With Customer [Abstract]
Contract asset	$ 17,869	$ 12,934
Deferred revenue	$ 495,473	$ 497,677

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Sep. 30, 2021
Revenue from External Customer [Line Items]
Contract with customer, asset, expected to be transferred to receivables within the next 12 months and therefore	$ 13,400		$ 13,400
Contract with customer, asset, reclassified to receivable			6,900,000
Contract with customer, asset, increase in contract assets related to revenue recognized			11,900,000
Impairments of the contract cost asset	0	$ 0	0	$ 0
Deferred revenue, revenue recognized			443,500,000
Deferred revenue, additions			434,400,000
Short term and long term accounts receivable	696,900,000		696,900,000		$ 744,600,000
Refund liability	36,400,000		36,400,000		40,300,000
Allowance for doubtful accounts receivable	700,000		700,000		300,000
Amortization expense related to costs to obtain a contract with a customer	11,900,000	$ 11,700,000	36,200,000	$ 33,100,000
Deferred revenue	495,473,000		495,473,000		497,677,000
Revenue, remaining performance obligation, amount	1,412,400,000		1,412,400,000
Unrecorded
Revenue from External Customer [Line Items]
Revenue, remaining performance obligation, amount	916,900,000		916,900,000
Other Current Assets
Revenue from External Customer [Line Items]
Capitalized contract cost, net	39,700,000		39,700,000		40,200,000
Other Assets
Revenue from External Customer [Line Items]
Capitalized contract cost, net	$ 75,900,000		75,900,000		$ 81,100,000
Intland Software
Revenue from External Customer [Line Items]
Deferred revenue increased			$ 6,900,000

Revenue from Contracts with C_5

Revenue from Contracts with Customers - Remaining Performance Obligations - Additional Information (Details) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-07-01	Jun. 30, 2022
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, percentage	83%
Revenue, remaining performance obligation, expected timing of satisfaction, period	24 months

Revenue from Contracts with C_6

Revenue from Contracts with Customers - Disaggregation of Revenue (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation Of Revenue [Line Items]
Revenue		$ 462,474	$ 435,668	$ 1,425,422	$ 1,326,504
Recurring revenue
Disaggregation Of Revenue [Line Items]
Revenue	[1]	415,197	387,175	1,273,032	1,186,978
Perpetual license
Disaggregation Of Revenue [Line Items]
Revenue		8,203	7,259	26,211	22,644
Professional services
Disaggregation Of Revenue [Line Items]
Professional services		$ 39,074	$ 41,234	$ 126,179	$ 116,882
[1] Recurring revenue is comprised of on-premise subscription, perpetual support, SaaS, and cloud services revenue.

Restructuring and Other Charg_3

Restructuring and Other Charges - Additional Information (Details) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) Employee	Jun. 30, 2021 USD ($)	Sep. 30, 2020 USD ($) Employee
Restructuring Cost And Reserve [Line Items]
Restructuring and other charges, net	$ 4,458	$ (132)	$ 36,887	$ 584
Restructuring charges			32,750	345
Sublease income	1,176	$ 1,114	3,406	3,329
Payments for restructuring	9,500		36,600	6,228
Impairment and Accretion Exited Lease Facilities
Restructuring Cost And Reserve [Line Items]
Sublease income	600		1,000
Restructured Facilities
Restructuring Cost And Reserve [Line Items]
Payments for restructuring	800		2,100
Employee Severance and Related Benefits
Restructuring Cost And Reserve [Line Items]
Restructuring charges			33,471	162
Payments for restructuring	6,200		31,965	3,925
Employee Severance and Related Benefits | Restructuring Plan 2022
Restructuring Cost And Reserve [Line Items]
Restructuring charges	100		$ 33,600
Number of employees | Employee			330
Employee Severance and Related Benefits | Restructuring Plan 2022 | Minimum
Restructuring Cost And Reserve [Line Items]
Restructuring charges			$ 37,000
Employee Severance and Related Benefits | Restructuring Plan 2020
Restructuring Cost And Reserve [Line Items]
Restructuring charges			100	$ 200	$ 30,800
Number of employees | Employee					250
Saas Transformation
Restructuring Cost And Reserve [Line Items]
Other charges for professional fees	5,100		5,100
Saas Transformation | Restructuring Plan 2022
Restructuring Cost And Reserve [Line Items]
Other charges for professional fees	$ 2,500		$ 2,500

Restructuring and Other Charg_4

Restructuring and Other Charges - Schedule of Restructuring Reserve (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Jun. 30, 2022	Jun. 30, 2022	Jun. 30, 2021
Restructuring Reserve [Roll Forward]
Accrual, beginning balance		$ 5,486	$ 9,987
Charges to operations, net		32,750	345
Cash disbursements	$ (9,500)	(36,600)	(6,228)
Foreign exchange impact		(550)	50
Accrual, ending balance	3,562	3,562	4,154
Employee Severance and Related Benefits
Restructuring Reserve [Roll Forward]
Accrual, beginning balance		1,981	3,992
Charges to operations, net		33,471	162
Cash disbursements	(6,200)	(31,965)	(3,925)
Foreign exchange impact		(550)	33
Accrual, ending balance	2,937	2,937	262
Facility Closures and Related Costs
Restructuring Reserve [Roll Forward]
Accrual, beginning balance		3,505	5,995
Charges to operations, net		(721)	183
Cash disbursements		(2,159)	(2,303)
Foreign exchange impact		0	17
Accrual, ending balance	$ 625	625	$ 3,892
PTC Restructuring Plan 2022
Restructuring Reserve [Roll Forward]
Cash disbursements		$ (34,124)

Stock-based Compensation - Sche

Stock-based Compensation - Schedule of RSU Activity (Details) - Restricted Stock Units (RSUs) shares in Thousands	9 Months Ended
	Jun. 30, 2022 $ / shares shares
Number of RSUs
Balance of outstanding restricted stock units, beginning, Shares | shares	3,217
Granted, shares | shares	1,609
Vested, Shares | shares	(1,728)
Forfeited or not earned, Shares | shares	(318)
Balance of outstanding restricted stock units, ending, Shares | shares	2,780
Weighted- Average Grant Date Fair Value Per RSU
Balance of outstanding restricted stock units, beginning (in USD per share) | $ / shares	$ 92.46
Granted (in USD per share) | $ / shares	114.18
Vested (in USD per share) | $ / shares	92.83
Forfeited or not earned (in USD per share) | $ / shares	98.55
Balance of outstanding restricted stock units, ending (in USD per share) | $ / shares	$ 104.93

Stock-based Compensation - Sc_2

Stock-based Compensation - Schedule of RSU Activity (Parenthetical) (Details) shares in Thousands	1 Months Ended
	Nov. 30, 2021 shares
Prior Period RTSR Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, shares	37
Prior Period Performance-based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, shares	87

Stock-based Compensation - Sc_3

Stock-based Compensation - Schedule of Number of RSU Awards Granted by Award Type (Details) shares in Thousands	9 Months Ended
	Jun. 30, 2022 shares
Performance-Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, shares	89
Service-Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, shares	1,320
TSR Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, shares	76

Stock-based Compensation - Sc_4

Stock-based Compensation - Schedule of Number of RSU Awards Granted by Award Type (Parenthetical) (Details) shares in Thousands	9 Months Ended
	Jun. 30, 2022 Installment shares
Performance-Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Number of equal annual installments | Installment	3
Granted, shares	89
Performance-Based Restricted Stock Units | Maximum | Catch-Up Provision
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, shares	165
Performance-Based Restricted Stock Units | Maximum Two Times | Maximum | Catch-Up Provision
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of RSUs	two times
Service-Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equal annual installments | Installment	3
Granted, shares	1,320
TSR Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, shares	76
TSR Units | Maximum | Catch-Up Provision
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, shares	152
Percentage of number of RSUs	100%
TSR Units | Maximum Two Times | Maximum | Catch-Up Provision
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of RSUs	two times

Stock-based Compensation - Addi

Stock-based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 49,420	$ 43,068	$ 133,283	$ 133,896
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 1,600	$ 1,800	$ 4,800	$ 5,600
RTSR Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value per share			$ 136.43

Stock-based Compensation - Sc_5

Stock-based Compensation - Schedule of Valuation Assumptions (Details)	9 Months Ended
	Jun. 30, 2022
Volatility Assumptions [Abstract]
Average volatility of peer group	34.67%
Risk free interest rate	0.81%
Dividend yield	0%

Stock-based Compensation - Sc_6

Stock-based Compensation - Schedule of Classification of Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 49,420	$ 43,068	$ 133,283	$ 133,896
Sales and marketing
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	14,029	14,229	38,556	42,533
Research and development
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	11,002	8,514	30,682	24,878
General and administrative
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	15,960	15,231	45,380	52,451
License | Cost of Sales
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	338	26	413	66
Support and cloud services | Cost of Sales
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	2,544	2,611	8,183	7,222
Professional services | Cost of Sales
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 5,547	$ 2,457	$ 10,069	$ 6,746

Earnings per Share (EPS) and _3

Earnings per Share (EPS) and Common Stock - Earnings per Share Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share And Common Stock [Abstract]
Net income	$ 70,476	$ 51,203	$ 206,244	$ 183,980
Weighted-average shares outstanding—Basic	117,073	116,934	117,114	116,702
Dilutive effect of restricted stock units	895	1,677	983	1,479
Weighted-average shares outstanding—Diluted	117,968	118,611	118,097	118,181
Earnings per share—Basic	$ 0.60	$ 0.44	$ 1.76	$ 1.58
Earnings per share—Diluted	$ 0.60	$ 0.43	$ 1.75	$ 1.56

Earnings per Share (EPS) and _4

Earnings per Share (EPS) and Common Stock - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Sep. 30, 2021
Earnings Per Share And Common Stock [Abstract]
Common stock, shares authorized	500,000,000		500,000,000		500,000,000
Stock repurchase program, authorized amount	$ 1,000,000,000		$ 1,000,000,000
Repurchases of common stock	0	0	1,046,000	0
Stock repurchased during period, value			$ 125,000,000

Acquisitions and Disposition _2

Acquisitions and Disposition of Business - Additional Information (Details)				3 Months Ended			9 Months Ended
	Jun. 01, 2022 USD ($) Employees	Apr. 29, 2022 USD ($) Employees	Jan. 15, 2021 USD ($) Employee	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Sep. 30, 2021 USD ($)
Business Acquisition [Line Items]
Business combination, acquisition and transaction related costs				$ 6,400,000		$ 600,000	$ 11,300,000	$ 14,800,000
Payments to acquire business, net of cash acquired							274,974,000	717,779,000
Borrowings under credit facility							264,000,000	600,000,000
Revenue				462,474,000		$ 435,668,000	1,425,422,000	$ 1,326,504,000
Deferred tax liabilities				24,362,000			24,362,000		$ 4,165,000
Deferred revenue				481,360,000			481,360,000		482,131,000
Accounts receivable				473,298,000			473,298,000		541,072,000
Goodwill				2,382,680,000			2,382,680,000		2,191,887,000
Liabilities				$ 2,448,368,000			$ 2,448,368,000		$ 2,469,092,000
Arena Solutions
Business Acquisition [Line Items]
Payments to acquire business			$ 715,000,000
Cash acquired from acquisition			$ 11,100,000
Number Of Employees | Employee			170
Revenue					$ 29,800,000
Fair value adjustments related to purchase accounting for acquisition					$ 9,100,000
Goodwill, acquired			$ 562,800,000
Deferred tax liabilities			41,300,000
Deferred revenue			15,500,000
Accounts receivable			11,400,000
Liabilities			400,000
Arena Solutions | Customer Lists
Business Acquisition [Line Items]
Finite-lived intangible assets acquired			$ 155,000,000
Acquired finite-lived intangible asset, weighted average useful life			13 years
Arena Solutions | Purchased Software
Business Acquisition [Line Items]
Finite-lived intangible assets acquired			$ 38,300,000
Acquired finite-lived intangible asset, weighted average useful life			9 years
Arena Solutions | Trademarks
Business Acquisition [Line Items]
Finite-lived intangible assets acquired			$ 4,200,000
Acquired finite-lived intangible asset, weighted average useful life			12 years
Arena Solutions | Line of Credit
Business Acquisition [Line Items]
Borrowings under credit facility			$ 600,000,000
Intland Software
Business Acquisition [Line Items]
Payments to acquire business		$ 277,200,000
Payments to acquire business, net of cash acquired		274,800,000
Borrowings under credit facility		$ 264,000,000
Number Of Employees | Employees		150
Goodwill, acquired		$ 240,000,000
Deferred tax liabilities		20,800,000
Deferred revenue		6,900,000
Accounts receivable		6,500,000
Liabilities		800,000
Intland Software | Customer Lists
Business Acquisition [Line Items]
Finite-lived intangible assets acquired		$ 38,800,000
Acquired finite-lived intangible asset, weighted average useful life		11 years
Intland Software | Purchased Software
Business Acquisition [Line Items]
Finite-lived intangible assets acquired		$ 19,100,000
Acquired finite-lived intangible asset, weighted average useful life		10 years
Intland Software | Trademarks
Business Acquisition [Line Items]
Finite-lived intangible assets acquired		$ 1,300,000
Acquired finite-lived intangible asset, weighted average useful life		10 years
PLM Services Business Disposition
Business Acquisition [Line Items]
Number Of Employees | Employees	160
Liabilities	$ 2,400,000
Cash Consideration	32,500,000
Gain On Sale	29,800,000
Net Assets	(30,600)
Goodwill	33,000,000
Total consideration	60,400,000
Contingent Consideration	20,000,000
PLM Services Business Disposition | Service To Be Performed [Member]
Business Acquisition [Line Items]
Non cash consideration	$ 28,000,000

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Additional Information (Details) $ in Thousands	9 Months Ended
	Jun. 30, 2022 USD ($) Segment	Sep. 30, 2021 USD ($)
Number of reportable segments | Segment	2
Intangible assets	$ 2,781,314	$ 2,570,854
Software Products
Intangible assets	2,769,800	2,525,700
Professional Services
Intangible assets	$ 11,500	$ 45,200

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Goodwill and Acquired Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Sep. 30, 2021
Goodwill (not amortized)	$ 2,382,680	$ 2,191,887
Intangible assets with finite lives (amortized), Gross Carrying Amount	1,162,438	1,112,070
Intangible assets with finite lives (amortized), Accumulated Amortization	763,804	733,103
Intangible assets with finite lives (amortized), Net Book Value	398,634	378,967
Intangible Assets, Net (Including Goodwill)	2,781,314	2,570,854
Purchased Software
Intangible assets with finite lives (amortized), Gross Carrying Amount	503,579	483,771
Intangible assets with finite lives (amortized), Accumulated Amortization	352,587	338,542
Intangible assets with finite lives (amortized), Net Book Value	150,992	145,229
Capitalized Software
Intangible assets with finite lives (amortized), Gross Carrying Amount	22,877	22,877
Intangible assets with finite lives (amortized), Accumulated Amortization	22,877	22,877
Intangible assets with finite lives (amortized), Net Book Value	0	0
Customer Lists and Relationships
Intangible assets with finite lives (amortized), Gross Carrying Amount	604,261	574,516
Intangible assets with finite lives (amortized), Accumulated Amortization	367,082	350,648
Intangible assets with finite lives (amortized), Net Book Value	237,179	223,868
Trademarks and Trade Names
Intangible assets with finite lives (amortized), Gross Carrying Amount	27,865	26,906
Intangible assets with finite lives (amortized), Accumulated Amortization	17,402	17,036
Intangible assets with finite lives (amortized), Net Book Value	10,463	9,870
Other
Intangible assets with finite lives (amortized), Gross Carrying Amount	3,856	4,000
Intangible assets with finite lives (amortized), Accumulated Amortization	3,856	4,000
Intangible assets with finite lives (amortized), Net Book Value	$ 0	$ 0

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Schedule of Changes in Goodwill by Reportable Segments (Details) $ in Thousands	9 Months Ended
	Jun. 30, 2022 USD ($)
Goodwill [Line Items]
Balance, October 1, 2021	$ 2,191,887
Foreign currency translation adjustment	16,924
Balance, June 30, 2022	2,382,680
Acquisition
Goodwill [Line Items]
Goodwill, acquired	240,709
Divestiture of Business
Goodwill [Line Items]
Goodwill, acquired	32,992
Software Products
Goodwill [Line Items]
Balance, October 1, 2021	2,148,968
Foreign currency translation adjustment	16,755
Balance, June 30, 2022	2,372,922
Software Products | Acquisition
Goodwill [Line Items]
Goodwill, acquired	240,709
Software Products | Divestiture of Business
Goodwill [Line Items]
Goodwill, acquired	0
Professional Services
Goodwill [Line Items]
Balance, October 1, 2021	42,919
Foreign currency translation adjustment	169
Balance, June 30, 2022	9,758
Professional Services | Acquisition
Goodwill [Line Items]
Goodwill, acquired	0
Professional Services | Divestiture of Business
Goodwill [Line Items]
Goodwill, acquired	$ (32,992)

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Schedule of Aggregate Amortization Expense for Intangible Assets with Finite Lives (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Amortization of acquired intangible assets	$ 8,931	$ 7,511	$ 25,865	$ 21,708
Cost of license revenue	6,596	8,260	19,010	21,644
Total amortization expense	$ 15,527	$ 15,771	$ 44,875	$ 43,352

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Financial Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Sep. 30, 2021
Financial assets:
Cash equivalents	$ 124,879	$ 114,375
Convertible note	2,000	2,000
Equity securities		77,540
Forward contracts	2,392	5,363
Financial assets, fair value	129,271	199,278
Financial liabilities:
Forward contracts	1,572	3,318
Financial liabilities, fair value	1,572	3,318
Level 1
Financial assets:
Cash equivalents	124,879	114,375
Convertible note	0	0
Equity securities		0
Forward contracts	0	0
Financial assets, fair value	124,879	114,375
Financial liabilities:
Forward contracts	0	0
Financial liabilities, fair value	0	0
Level 2
Financial assets:
Cash equivalents	0	0
Convertible note	0	0
Equity securities		0
Forward contracts	2,392	5,363
Financial assets, fair value	2,392	5,363
Financial liabilities:
Forward contracts	1,572	3,318
Financial liabilities, fair value	1,572	3,318
Level 3
Financial assets:
Cash equivalents	0	0
Convertible note	2,000	2,000
Equity securities		77,540
Forward contracts	0	0
Financial assets, fair value	2,000	79,540
Financial liabilities:
Forward contracts	0	0
Financial liabilities, fair value	$ 0	$ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($)	1 Months Ended		3 Months Ended		9 Months Ended
	Feb. 28, 2022	Jan. 31, 2022	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Sep. 30, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Non-marketable equity investments			$ 1,000,000		$ 1,000,000		$ 2,200,000
Cash received from sale of non-marketable equity investments			$ 4,200,000
Share price per share			$ 0.01		$ 0.01		$ 0.01
Net income (loss)			$ (70,476,000)	$ (51,203,000)	$ (206,244,000)	$ (183,980,000)
Aggregate realized gain			3,000,000		3,000,000
Non Marketable Equity Investment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Original investment			1,200,000		1,200,000
Matterport, Inc.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Aggregate realized gain					34,000,000
Equity Securities | Matterport, Inc.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value of shares sold	$ 3,600,000	$ 39,100,000
Share price per share	$ 7.6	$ 9.1
Net income (loss)					(34,800,000)
Original investment			8,700,000		8,700,000
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amount invested into non-marketable convertible note							$ 2,000,000
Changes in fair value			$ 0		$ 0

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Changes in Fair Value of Level 3 Investment (Details) - Matterport, Inc. - Level 3 $ in Thousands	9 Months Ended
	Jun. 30, 2022 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Balance, October 1, 2021	$ 77,540
Realized loss	(38,468)
Sale of investment	(39,072)
Balance, June 30, 2022	$ 0

Marketable Securities - Additio

Marketable Securities - Additional Information (Details) - USD ($)	1 Months Ended	9 Months Ended
	Dec. 31, 2020	Jun. 30, 2022	Jun. 30, 2021	Sep. 30, 2021
Marketable Securities [Abstract]
Marketable securities held		$ 0		$ 0
Proceeds from sale of marketable securities	$ 56,200,000	$ 0	$ 56,170,000

Derivative Financial Instrume_3

Derivative Financial Instruments - Schedule of Derivative Financial Instruments at Gross Fair Value (Details) - Forward Contracts - USD ($) $ in Thousands	Jun. 30, 2022	Sep. 30, 2021
Designated as Hedging Instrument
Derivative [Line Items]
Gross Amount of Recognized Assets	$ 771	$ 1,641
Gross Amount of Recognized Liabilities	0	0
Not Designated as Hedging Instrument
Derivative [Line Items]
Fair Value of Derivatives Not Designated As Hedging Instruments	1,621	3,722
Fair Value of Derivatives Not Designated As Hedging Instruments	$ 1,572	$ 3,318

Derivative Financial Instrume_4

Derivative Financial Instruments - Schedule of Derivative Financial Instruments at Gross Fair Value (Parentheticals) (Details) - Forward Contracts - USD ($) $ in Millions	Jun. 30, 2022	Sep. 30, 2021
Other Current Assets
Derivative [Line Items]
Gross Amount of Recognized Assets	$ 2.4	$ 5.4
Other Current Liabilities
Derivative [Line Items]
Gross Amount of Recognized Liabilities	$ 1.6	$ 3.3

Derivative Financial Instrume_5

Derivative Financial Instruments - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Derivative [Line Items]
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments	$ 0.9	$ (2)	$ (3.1)	$ (6.1)
Maximum | Forward Contracts | Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative maturity			3 months
Maximum | Forward Contracts | Designated as Hedging Instrument | Net Investment Hedging
Derivative [Line Items]
Derivative maturity			3 months

Derivative Financial Instrume_6

Derivative Financial Instruments - Schedule of Notional Amounts of Outstanding Forward Contracts and Options (Details) - Not Designated as Hedging Instrument - Foreign Exchange Forward Contract and Options - USD ($) $ in Thousands	Jun. 30, 2022	Sep. 30, 2021
Derivative [Line Items]
Notional amount	$ 444,109	$ 563,921
Canadian / U.S. Dollar
Derivative [Line Items]
Notional amount	4,837	4,894
Euro / U.S. Dollar
Derivative [Line Items]
Notional amount	362,686	387,466
British Pound / U.S. Dollar
Derivative [Line Items]
Notional amount	6,095	23,141
Israeli Shekel / U.S. Dollar
Derivative [Line Items]
Notional amount	11,415	10,475
Japanese Yen / U.S. Dollar
Derivative [Line Items]
Notional amount		46,450
Swiss Franc / U.S. Dollar
Derivative [Line Items]
Notional amount	9,272	18,039
Swedish Krona / U.S. Dollar
Derivative [Line Items]
Notional amount	13,182	34,196
Singapore Dollar / U.S. Dollar
Derivative [Line Items]
Notional amount	3,397	3,498
Chinese Renminbi / U.S. Dollar
Derivative [Line Items]
Notional amount	7,975	23,297
New Taiwan Dollar / U.S. Dollar
Derivative [Line Items]
Notional amount	15,758	3,369
Danish krone/ U.S. Dollar
Derivative [Line Items]
Notional amount	2,900	2,380
Australian Dollar/ U.S. Dollar
Derivative [Line Items]
Notional amount	3,068	2,086
All other
Derivative [Line Items]
Notional amount	$ 3,524	$ 4,630

Derivative Financial Instrume_7

Derivative Financial Instruments - Schedule of Derivative Instruments and Hedging Activities Disclosures (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Foreign Exchange Forward Contract and Options | Not Designated as Hedging Instrument | Other income (expense), net
Derivative Instruments Gain Loss [Line Items]
Net realized and unrealized (gain) loss, excluding the underlying foreign currency exposure being hedged	$ 3,399	$ (2,508)	$ 3,761	$ (7,128)
Forward Contracts | Designated as Hedging Instrument | Net Investment Hedging
Derivative Instruments Gain Loss [Line Items]
Net realized and unrealized (gain) loss, excluding the underlying foreign currency exposure being hedged	1,082	(2,309)	(1,993)	(268)
Gain (loss) reclassified from OCI	(4,281)	4,143	(11,431)	4,044
Forward Contracts | Designated as Hedging Instrument | Other income (expense), net | Net Investment Hedging
Derivative Instruments Gain Loss [Line Items]
Gain recognized, excluded portion	$ 515	$ 267	$ 1,124	$ 1,000

Derivative Financial Instrume_8

Derivative Financial Instruments - Schedule of Notional Amounts of Outstanding Forward Contracts (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Sep. 30, 2021
Euro / U.S. Dollar | Forward Contracts | Designated as Hedging Instrument | Net Investment Hedging
Derivative [Line Items]
Notional amount	$ 114,651	$ 128,103

Derivative Financial Instrume_9

Derivative Financial Instruments - Schedule of Offsetting Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Sep. 30, 2021
Derivative [Line Items]
Net Amounts of Assets Presented in the Consolidated Balance Sheets	$ 2,392	$ 5,363
Foreign Currency Forwards
Derivative [Line Items]
Options	2,392
Gross Amounts Offset in the Consolidated Balance Sheets	0
Net Amounts of Assets Presented in the Consolidated Balance Sheets	2,392
Gross Amounts Not Offset in the Consolidated Balance Sheets, Financial Instruments	(1,572)
Gross Amounts Not Offset in the Consolidated Balance Sheets, Cash Collateral Received	0
Net Amount	$ 820

Derivative Financial Instrum_10

Derivative Financial Instruments - Schedule of Offsetting Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Sep. 30, 2021
Derivative [Line Items]
Net Amounts of Liabilities Presented in the Consolidated Balance Sheets	$ 1,572	$ 3,318
Foreign Currency Forwards
Derivative [Line Items]
Gross Amount of Recognized Liabilities	1,572
Gross Amounts Offset in the Consolidated Balance Sheets	0
Net Amounts of Liabilities Presented in the Consolidated Balance Sheets	1,572
Gross Amounts Not Offset in the Consolidated Balance Sheets, Financial Instruments	(1,572)
Gross Amounts Not Offset in the Consolidated Balance Sheets, Cash Collateral Pledged	0
Net Amount	$ 0

Segment and Geographic Inform_3

Segment and Geographic Information - Additional Information (Details)	9 Months Ended
	Jun. 30, 2022 Segment
Segment Reporting [Abstract]
Number of operating segments	2
Number of reportable segments	2

Segment and Geographic Inform_4

Segment and Geographic Information - Summary of Revenue and Profit Attributable to Our Operating Segments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Revenue Reconciling Item [Line Items]
Revenue	$ 462,474	$ 435,668	$ 1,425,422	$ 1,326,504
Operating costs	101,995	95,077	290,450	271,355
Gross margin	360,479	340,591	1,134,972	1,055,149
Sales and marketing	124,325	134,412	366,209	388,315
General and administrative	54,618	47,084	154,027	157,417
Restructuring and other charges, net	4,458	(132)	36,887	584
Intangibles amortization	15,527	15,771	44,875	43,352
Operating income	79,977	73,582	301,345	265,611
Interest and debt premium expense	(13,758)	(13,178)	(38,983)	(37,622)
Other income (expense), net	34,559	(1,935)	(2,642)	(5,756)
Income before income taxes	100,778	58,469	259,720	222,233
Operating Segments
Segment Reporting Revenue Reconciling Item [Line Items]
Revenue	462,474	435,668	1,425,422	1,326,504
Operating costs	164,138	151,343	472,732	432,313
Gross margin	298,336	284,325	952,690	894,191
Unallocated
Segment Reporting Revenue Reconciling Item [Line Items]
Sales and marketing	110,296	120,183	327,653	345,782
General and administrative	32,303	31,235	97,339	90,122
Restructuring and other charges, net	4,458	(132)	36,887	584
Intangibles amortization	15,527	15,771	44,875	43,352
Stock-based compensation	49,420	43,068	133,283	133,896
Other unallocated operating expenses	6,355	618	11,308	14,844
Software Products | Operating Segments
Segment Reporting Revenue Reconciling Item [Line Items]
Revenue	423,400	394,434	1,299,243	1,209,622
Operating costs	127,964	116,617	365,008	331,328
Gross margin	295,436	277,817	934,235	878,294
Professional Services | Operating Segments
Segment Reporting Revenue Reconciling Item [Line Items]
Revenue	39,074	41,234	126,179	116,882
Operating costs	36,174	34,726	107,724	100,985
Gross margin	$ 2,900	$ 6,508	$ 18,455	$ 15,897

Segment and Geographic Inform_5

Segment and Geographic Information - Summary of Revenue for Geographic Regions (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Revenue Reconciling Item [Line Items]
Total revenue	$ 462,474	$ 435,668	$ 1,425,422	$ 1,326,504
Operating Segments
Segment Reporting Revenue Reconciling Item [Line Items]
Total revenue	462,474	435,668	1,425,422	1,326,504
Americas | Operating Segments
Segment Reporting Revenue Reconciling Item [Line Items]
Total revenue	193,043	180,154	608,924	562,763
Europe | Operating Segments
Segment Reporting Revenue Reconciling Item [Line Items]
Total revenue	176,419	159,558	561,690	524,354
Asia-Pacific | Operating Segments
Segment Reporting Revenue Reconciling Item [Line Items]
Total revenue	$ 93,012	$ 95,956	$ 254,808	$ 239,387

Income Taxes - Summary of Incom

Income Taxes - Summary of Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income before income taxes	$ 100,778	$ 58,469	$ 259,720	$ 222,233
Provision for income taxes	$ 30,302	$ 7,266	$ 53,476	$ 38,253
Effective income tax rate	30%	12%	21%	17%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Sep. 30, 2021
Income Tax Disclosure [Line Items]
Federal statutory income tax rate	21%	21%	21%	21%
Tax expense related to gain on sale of PLM services business	$ 15,500
Tax deductible goodwill			$ 8,100
Unrecognized tax benefits	24,100,000		24,100,000		$ 21,200,000
Income tax provision upon recognition of unrecognized tax benefit	24,100,000		24,100,000
Unrecognized tax benefits that would impact valuation allowance	4,900,000		4,900,000
Potential decrease in unrecognized tax benefits	$ (3,000,000)		(3,000,000)
Arena Solutions
Income Tax Disclosure [Line Items]
Reduction of valuation allowance			(42,300,000)
Charge related to effects of Non US Jurisdiction unrecognized tax benefit			$ 37,300,000

Debt - Schedule of Long-term De

Debt - Schedule of Long-term Debt Obligations (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Sep. 30, 2021	Feb. 13, 2020
Debt Instrument [Line Items]
Total debt	$ 1,434,000	$ 1,450,000
Unamortized debt issuance costs for the senior notes	(8,916)	(10,529)
Total debt, net of issuance costs	1,425,084	1,439,471
4.000% Senior Notes Due 2028
Debt Instrument [Line Items]
Senior Notes			$ 500,000
3.625% Senior Notes Due 2025
Debt Instrument [Line Items]
Senior Notes			$ 500,000
Long-term Debt [Member] | Line of Credit
Debt Instrument [Line Items]
Credit facility revolver	434,000	450,000
Long-term Debt [Member] | 4.000% Senior Notes Due 2028
Debt Instrument [Line Items]
Senior Notes	500,000	500,000
Long-term Debt [Member] | 3.625% Senior Notes Due 2025
Debt Instrument [Line Items]
Senior Notes	$ 500,000	$ 500,000

Debt - Schedule of Long-term _2

Debt - Schedule of Long-term Debt Obligations (Parenthetical) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Sep. 30, 2021
Debt Instrument [Line Items]
Unamortized Debt Issuance Expense	$ 8,916	$ 10,529
Other Noncurrent Assets | Line of Credit
Debt Instrument [Line Items]
Unamortized Debt Issuance Expense	$ 3,000	$ 3,800

Debt - Senior Notes - Additiona

Debt - Senior Notes - Additional Information (Details) - USD ($) $ in Millions	Feb. 13, 2020	Jun. 30, 2022
Senior Notes
Debt Instrument [Line Items]
Redemption price, percentage	101%
4.000% Senior Notes Due 2028
Debt Instrument [Line Items]
Senior Notes	$ 500
Interest rate	4%
4.000% Senior Notes Due 2028 | Senior Notes
Debt Instrument [Line Items]
Fair value amount		$ 462.4
3.625% Senior Notes Due 2025
Debt Instrument [Line Items]
Senior Notes	$ 500
Interest rate	3.625%
3.625% Senior Notes Due 2025 | Senior Notes
Debt Instrument [Line Items]
Fair value amount		$ 476.2

Debt - Credit Agreement - Addit

Debt - Credit Agreement - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Aug. 02, 2022	Feb. 13, 2020
Debt Instrument [Line Items]
Credit facility amount						$ 1,000,000,000
Voting interest in domestic subsidiaries pledged against credit facility			100%
Voting interest in foreign subsidiaries pledged against credit facility			65%
Leverage ratio, actual	0.0197		0.0197
Senior debt leverage ratio, actual	0.0061		0.0061
Fixed charge coverage ratio, actual	0.1374		0.1374
Periodic interest payment	$ 2,100,000	$ 3,200,000	$ 25,900,000	$ 23,700,000
Interest rate during period	3.40%	3.10%	3.30%	3.40%
Foreign Subsidiary | Subsequent Event
Debt Instrument [Line Items]
Long-term portion of long term debt					$ 0
Line of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity expansion amount						$ 500,000,000
Credit facility maturity date			Feb. 13, 2025
Basis spread on Federal Reserve Bank of New York (FRBNY) rate	0.50%		0.50%
Basis spread on adjusted LIBOR			1%
Investment limit in foreign subsidiaries	$ 100,000,000		$ 100,000,000
Cash investment limit for acquisition of business	$ 200,000,000		$ 200,000,000
Total leverage ratio	4.50		4.50
Senior secured leverage ratio	3		3
Minimum fixed charge coverage ratio allowed under debt covenant	3		3
Line of Credit | Minimum
Debt Instrument [Line Items]
Variable interest rate, length of time between updates			30 days
Credit facility commitment fees percentage			0.175%
Line of Credit | Minimum | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate			1.25%
Line of Credit | Minimum | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate			0.25%
Line of Credit | Maximum
Debt Instrument [Line Items]
Variable interest rate, length of time between updates			180 days
Credit facility commitment fees percentage			0.30%
Line of Credit | Maximum | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate			1.75%
Line of Credit | Maximum | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate			0.75%
Secured Debt | Revolving Loan, Reset Period One
Debt Instrument [Line Items]
Annual rate for borrowings outstanding	2.67%		2.67%

Leases - Additional Information

Leases - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2023	Sep. 30, 2021	Feb. 28, 2019
Lessee Lease Description [Line Items]
Lease expiration date			2037
Payments to be received as sublease income					$ 2,900,000		$ 9,100,000
Operating right-of-use lease assets	$ 143,388,000		$ 143,388,000			$ 152,337,000
Future lease payments	$ 11,600,000		$ 11,600,000
Leases not yet commenced, Term of contract	10 years		10 years
Operating lease, liability	$ 194,836,000		$ 194,836,000
Lease Cost	10,857,000	$ 11,031,000	32,372,000	$ 33,793,000
Operating cash flows from operating leases	10,087,000	12,319,000	35,200,000	40,396,000
Facility Closures and Related Costs
Lessee Lease Description [Line Items]
Operating lease liability, net restructured facilities	700,000		700,000			$ 3,600,000
Operating right-of-use lease assets	200		200
Operating lease, liability	900,000		900,000
Operating cash flows from operating leases	700,000	$ 1,200,000	1,900,000	$ 7,500,000
Sublease Income Committed
Lessee Lease Description [Line Items]
Sublease income assumed	$ 200,000		$ 200,000

Leases - Components of Lease Co

Leases - Components of Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Lease Cost
Operating lease cost	$ 8,613	$ 9,075	$ 26,149	$ 28,031
Short-term lease cost	812	627	1,935	1,785
Variable lease cost	2,608	2,443	7,694	7,306
Sublease income	(1,176)	(1,114)	(3,406)	(3,329)
Total lease cost	$ 10,857	$ 11,031	$ 32,372	$ 33,793

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Cash Flow and Right of Use Assets Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Leases [Abstract]
Operating cash flows from operating leases	$ 10,087	$ 12,319	$ 35,200	$ 40,396
Financing cash flows from financing leases	0	0	239	279
Right-of-use assets obtained in exchange for new lease obligations, operating leases	730	126	11,825	773
Right-of-use assets obtained in exchange for new lease obligations, financing leases	$ 0	$ 0	$ 0	$ 0

Leases - Schedule of Suppleme_2

Leases - Schedule of Supplemental Balance Sheet Information Related to Leases (Details)	Jun. 30, 2022
Leases [Abstract]
Weighted-average remaining lease term - operating leases	11 years 10 months 24 days
Weighted-average remaining lease term - financing leases	2 years 1 month 6 days
Weighted-average discount rate - operating leases	5.40%
Weighted-average discount rate - financing leases	3%

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Lease Liabilities (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Operating Lease (ASC 842)
Remainder of 2022	$ 9,139
2023	30,971
2024	26,710
2025	23,816
2026	19,853
Thereafter	160,184
Total future lease payments	270,673
Less: imputed interest	(75,837)
Total lease liability	$ 194,836

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Thousands		9 Months Ended
	Sep. 22, 2021 USD ($)	Jun. 30, 2022 USD ($) Plantiff	Jun. 30, 2021 USD ($)
Loss Contingencies [Line Items]
Letters of credit and bank guarantees outstanding		$ 15,200	$ 16,300
Bank guarantees outstanding collateralized		$ 500	$ 500
Putative Class Action
Loss Contingencies [Line Items]
Lawsuit filing date		September 17, 2020
Number of plaintiffs | Plantiff		3
Lawsuit action domicile		U.S. District Court for the District of Massachusetts
Plaintiffs claim		The plaintiffs sought unspecified damages on behalf of a class of Plan participants from September 17, 2014 through the date of any judgment.
Gross settlement amount	$ 1,725