PTC Inc. makes computer-aided design and product lifecycle management software used by manufacturers to design products and manage the data associated with those products throughout their development and manufacturing lifecycle. Its software helps engineering teams design complex products digitally before physical manufacturing begins, along with managing the vast amounts of technical data, revisions and documentation that accumulate throughout a product's design and manufacturing history. PTC has increasingly emphasized subscription-based software licensing over traditional perpetual licenses, following a broader industry shift that provides more predictable, recurring revenue in exchange for initially lower upfront license fees. The company's revenue is tied to manufacturing industry capital spending on design and engineering software, an area that benefits from manufacturers' ongoing efforts to digitize and streamline product development processes.