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Leases (Tables)
12 Months Ended
Sep. 30, 2025
Leases [Abstract]  
Components of Lease Cost

The components of lease cost reflected in the Consolidated Statements of Operations for the years ended September 30, 2025, 2024, and 2023 were as follows:

 

(in thousands)

 

Year ended September 30,

 

 

2025

 

2024

 

2023

 

Operating lease cost

$

32,912

 

$

33,288

 

$

32,402

 

Short-term lease cost

 

1,453

 

 

3,691

 

 

5,411

 

Variable lease cost

 

10,572

 

 

9,919

 

 

10,945

 

Sublease income

 

(958

)

 

(1,436

)

 

(4,749

)

Total lease cost

$

43,979

 

$

45,462

 

$

44,009

 

Supplemental cash flow information for the years ended September 30, 2025, 2024, and 2023 was as follows:

 

(in thousands)

 

Year ended September 30,

 

 

2025

 

2024

 

2023

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

 Operating cash flows from operating leases

$

36,303

 

$

35,498

 

$

36,038

 

Right-of-use assets obtained in exchange for new lease obligations:

 

 

 

 

 

 

 

 

 

Operating leases(1)

$

16,664

 

$

11,079

 

$

28,257

 

 

(1)
In the year ended September 30, 2023, operating lease additions included $4.0 million related to the ServiceMax acquisition.

Supplemental balance sheet information related to the leases as of September 30, 2025 and 2024 was as follows:

 

 

 

September 30,

 

 

2025

 

2024

 

Weighted-average remaining lease term - operating leases

9.4 years

 

10.3 years

 

Weighted-average discount rate - operating leases

 

5.3

%

 

5.4

%

Schedule of Maturities of Lease Liabilities

Maturities of lease liabilities as of September 30, 2025 are as follows:

 

(in thousands)

Operating Leases

 

2026

$

31,829

 

2027

 

26,987

 

2028

 

22,214

 

2029

 

18,674

 

2030

 

 

17,460

 

Thereafter

 

 

104,477

 

Total future lease payments

 

 

221,641

 

Less: imputed interest

 

 

(49,208

)

Total lease liability

 

$

172,433

 

As of September 30, 2025, we had an operating lease that had not yet commenced. The lease will commence in 2026 with a lease term of 5 years and we will make future lease payments of approximately $7.4 million.