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Revenue from Contracts with Customers | 12 Months Ended
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Sep. 30, 2025
Revenue from Contract with Customer [Abstract] |
Revenue from Contracts with Customers | 3. Revenue from Contracts with Customers Receivables, Contract Assets, and Contract Liabilities
(in thousands) |  | September 30, |
|  | 2025 |  |  | 2024 |
Short-term receivables |  | $ | 1,001,085 |  |  | $ | 861,953 |
Long-term receivables |  | $ | 378,941 |  |  | $ | 200,099 |
Contract asset |  | $ | 11,044 |  |  | $ | 14,410 |
Deferred revenue |  | $ | 827,065 |  |  | $ | 775,274 |
As of September 30, 2025, all our contract assets are expected to be transferred to receivables within the next 12 months and therefore are included in Other current assets. As of September 30, 2024, all our contract assets were included in Other current assets. Approximately $10.9 million of the September 30, 2024 contract asset balance was transferred to receivables during the year ended September 30, 2025 as a result of the right to payment becoming unconditional. Additions to contract asset of approximately $7.5 million primarily related to revenue recognized in the period, net of billings. There were no impairments of contract assets in the year ended September 30, 2025. During the year ended September 30, 2025, we recognized $748.8 million of revenue that was included in deferred revenue as of September 30, 2024. The remainder of the change in the Deferred revenue balance was driven by additional deferrals of $800.6 million, primarily from new billings, as well as an increase in the balance resulting from changes in foreign currency exchange rates. For subscription contracts, we generally invoice customers annually. 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 (primarily commissions) are amortized proportionately related to revenue over 5 years, which is generally longer than the term of the initial contract because of anticipated renewals as commissions for renewals are not commensurate with commissions related to our initial contracts. As of September 30, 2025 and September 30, 2024, deferred costs of $45.1 million and $42.5 million, respectively, were included in Other current assets and $78.2 million and $76.4 million, respectively, were included in Other assets. Amortization expense related to costs to obtain a contract with a customer was $54.0 million, $52.0 million, and $53.4 million in the years ended September 30, 2025, 2024, and 2023, respectively. There were no substantial impairments of the contract cost asset in the years ended September 30, 2025 and 2024. Remaining Performance Obligations (RPO) Our contracts with customers include transaction price amounts allocated to performance obligations that will be satisfied and recognized as revenue at a later date. The value of RPO and timing of recognition may be impacted by several factors, including the performance obligation type, duration and timing of commencement, as well as foreign currency exchange rate fluctuations. As of September 30, 2025, RPO totaled $2,870.7 million, of which $827.1 million is recorded in Deferred revenue and $2,043.6 million is not yet recorded in the Consolidated Balance Sheets. Of the total, we expect to recognize approximately 55% over the next 12 months, 24% over the next 13 to 24 months, and the remaining amount thereafter. Disaggregation of Revenue
(in thousands) |  | Year ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2023 |
Recurring revenue(1) |  | $ | 2,600,514 |  |  | $ | 2,134,030 |  |  | $ | 1,907,918 |
Perpetual license |  |  | 31,375 |  |  |  | 32,196 |  |  |  | 38,640 |
Professional services |  |  | 107,337 |  |  |  | 132,246 |  |  |  | 150,495 |
Total revenue |  | $ | 2,739,226 |  |  | $ | 2,298,472 |  |  | $ | 2,097,053 |
(1) Recurring revenue is comprised of on-premises subscription, perpetual support, SaaS, and hosting services revenue. We report revenue by the following two product groups:
(in thousands) |  | Year ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2023 |
Product lifecycle management (PLM) |  | $ | 1,741,310 |  |  | $ | 1,459,078 |  |  | $ | 1,330,316 |
Computer-aided design (CAD) |  |  | 997,916 |  |  |  | 839,394 |  |  |  | 766,737 |
Total revenue |  | $ | 2,739,226 |  |  | $ | 2,298,472 |  |  | $ | 2,097,053 |
We license products to customers worldwide. Our sales and marketing operations outside the United States are conducted principally through our international sales subsidiaries throughout Europe and the Asia Pacific region. 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) |  | Year ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2023 |
Americas(1) |  | $ | 1,327,229 |  |  | $ | 1,087,929 |  |  | $ | 1,023,273 |
Europe(2) |  |  | 995,094 |  |  |  | 859,387 |  |  |  | 753,796 |
Asia Pacific |  |  | 416,903 |  |  |  | 351,156 |  |  |  | 319,984 |
Total revenue |  | $ | 2,739,226 |  |  | $ | 2,298,472 |  |  | $ | 2,097,053 |
(1) Includes revenue in the United States totaling $1,287.5 million, $1,057.3 million, and $993.8 million for 2025, 2024 and 2023, respectively. (2) Includes revenue in Germany totaling $368.8 million, $330.5 million, and $292.0 million for 2025, 2024 and 2023, respectively.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-7 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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