PTC Announces CFO Transition

Jennifer DiRico Appointed as Next Chief Financial Officer

BOSTON, Dec. 4, 2025 /PRNewswire/ -- PTC (NASDAQ: PTC) today announced that Jennifer DiRico has been appointed Executive Vice President and Chief Financial Officer, effective January 1, 2026. DiRico will report to President and Chief Executive Officer Neil Barua and lead the Company's global finance organization. DiRico succeeds Kristian Talvitie, who will continue to serve as CFO through December 31, 2025. DiRico's appointment is the culmination of a thorough executive search process.

DiRico is an accomplished finance and business operations leader with experience ranging from large-scale enterprise software organizations to high-growth technology companies. She currently serves as Chief Financial Officer of Commvault, a leading cyber resilience company. Prior to Commvault, DiRico spent several years at Toast in finance and operations leadership roles. She played a key role in Toast's successful IPO and served as General Manager of the Company's international business while leading its global expansion strategy.

"Jen has a proven track record of leading high-performing teams through periods of transformation and growth," said Barua. "This track record, together with her leadership at the intersection of finance and operations, will be invaluable to PTC as we advance our Intelligent Product Lifecycle vision. I look forward to partnering with Jen as we build on our momentum to address our customers' most pressing challenges and drive compelling, sustainable value for PTC's shareholders."

"PTC has a leading portfolio of product lifecycle software solutions and plays a critical role in its customers' digital transformations, from the world's largest, most complex organizations to the fast-growing startups redefining industries," said DiRico. "I'm excited to partner with Neil and the global team and help PTC capture its growth opportunity while maintaining strong financial discipline to deliver meaningful results."

Barua continued, "I want to express our sincerest gratitude to Kristian for his contributions to PTC, most notably his role in our transition to a subscription business model and the diligence he has brought to PTC's free cash flow performance over the last several years. We wish him the best moving forward."

Full Fiscal Year 2026 and First Fiscal Quarter Guidance

PTC affirmed its full fiscal year 2026 and first fiscal quarter guidance as previously announced on November 5, 2025.

About Jennifer DiRico

Jennifer DiRico is currently Chief Financial Officer of Commvault, a leading provider of cloud-based and on-premises cyber resilience and data security and recovery solutions for companies worldwide. Before joining Commvault in 2024, she served in senior finance and operating roles for nearly a decade at Toast, a comprehensive platform of software as a service (SaaS) products and financial technology solutions for restaurants. Prior to Toast, DiRico held finance positions at Nuance Communications and earlier at Passkey International.

Forward-Looking Statements

Statements in this press release that are not historic facts, including statements about our future operating, financial and growth expectations and guidance, are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those projected. These risks include: the macroeconomic and/or global manufacturing climates may not improve or may deteriorate, which could cause customers to delay or reduce purchases of new software, adopt competing software solutions, reduce the number of subscriptions they carry, or delay payments to us, which would adversely affect our ARR (Annual Run Rate) and/or financial results and cash flow and growth; our investments in our software solutions may not drive expansion of those solutions and/or generate the ARR and/or cash flow we expect if customers are slower to adopt those solutions than we expect or if they adopt competing solutions; customers may not build the product data foundations essential for the AI-driven transformation of their business when or as we expect, which could adversely affect our ARR and/or financial results and cash flow and growth; our go-to-market realignment and related initiatives may disrupt our business to a greater extent than we expect or may not generate the ARR and/or financial results or cash flow when or as we expect; and foreign exchange rates may differ materially from those we expect. In addition, our assumptions concerning our future GAAP and non-GAAP effective income tax rates are based on estimates and other factors that could change, including changes to tax laws in the U.S. and other countries and the geographic mix of our revenue, expenses, and profits. Other risks and uncertainties that could cause actual results to differ materially from those projected are described from time to time in reports we file with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K and other filings with the U.S. Securities and Exchange Commission.

About PTC (NASDAQ: PTC)

PTC (NASDAQ: PTC) is a global software company that enables manufacturers and product companies to digitally transform how they design, manufacture, and service the physical products that the world relies on. Headquartered in Boston, Massachusetts, PTC employs over 7,000 people and supports more than 30,000 customers globally. For more information, please visit www.ptc.com.

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SOURCE PTC Inc.