Welcome to our dedicated page for PTC news (Ticker: PTC), a resource for investors and traders seeking the latest updates and insights on PTC stock.
PTC, Inc. (NASDAQ: PTC) is a global leader in providing advanced technology platforms and solutions that revolutionize how companies create, operate, and service products within the Internet of Things (IoT) ecosystem. With its cutting-edge ThingWorx® technology platform, PTC empowers developers to harness and derive value from vast data generated by smart, connected devices and systems.
Founded in 1985 and headquartered in Boston, Massachusetts, PTC has grown significantly with over 7,000 employees and more than 30,000 customers worldwide. Its product suite includes high-end computer-assisted design (CAD) software like Creo and product lifecycle management (PLM) solutions such as Windchill. Moreover, PTC offers robust IoT and augmented reality (AR) solutions, enabling industries to digitally transform their operations.
PTC's innovative solutions are deployed across various industries, enhancing productivity and operational efficiency. A notable collaboration includes a strategic partnership with Volkswagen Group to adopt PTC's Codebeamer® application lifecycle management (ALM) solution for developing next-generation electric vehicles. This partnership highlights PTC's role in advancing software engineering practices within the automotive industry.
Financially, PTC has demonstrated consistent growth. In its recent fiscal year, the company reported a 26% growth in Annual Run Rate (ARR) and free cash flow increase by 41%. The company's strong market position is bolstered by its comprehensive subscription model, enabling durable and consistent revenue streams.
Strategically, PTC is focused on expanding its SaaS capabilities, emphasizing flexibility in technology deployment—whether on-premises, in the cloud, or via its pure SaaS platform.
For more information, visit PTC's official website.
PTC announced a new $2 billion share repurchase authorization extending through September 30, 2027. The company plans to repurchase approximately $300 million of common stock in fiscal 2025, starting in Q1. PTC's long-term strategy aims to return about 50% of free cash flow to shareholders through share repurchases while considering interest rates and strategic opportunities. The repurchases will be executed through open market purchases, including Rule 10b5-1 plans, with timing and amount dependent on factors like cash flow, economic conditions, and stock price.
PTC reported strong financial results for Q4 and FY2024, with ARR growing 14% to $2,255 million and free cash flow increasing 25% to $736 million. Q4 revenue rose 15% to $627 million, with operating margin expanding to 31%. The company announced a new $2 billion share repurchase authorization through FY2027. For FY2025, PTC forecasts 9-10% constant currency ARR growth and free cash flow of $835-850 million. The company plans to repurchase approximately $300 million of stock in FY2025 and expects to maintain a disciplined investment approach despite challenging market conditions.
PTC (Nasdaq: PTC) has announced it will release its fiscal 2024 fourth quarter and full year results on Wednesday, November 6th, 2024, after the stock market closes. The company will host a live webcast and conference call at 5:00 PM Eastern Time on the same day to review the results.
Investors can access the earnings press release, accompanying presentation, and financial data tables on the Investor Relations section of PTC's website prior to the conference call. To participate in the webcast, interested parties need to register through the provided link. A replay of the webcast will be available for those unable to attend the live event.
PTC has noted that statements made during the call are as of the event date, and the company does not assume any obligation to update statements made live or in the archived call.
PTC (NASDAQ: PTC) has announced a Strategic Collaboration Agreement with Amazon Web Services (AWS) to accelerate the growth of its Onshape cloud-native CAD and PDM solution. The collaboration focuses on advancing product enhancements, customer adoption programs, and AI initiatives. Key priorities include:
1. Onshape Discovery Program: Allowing qualified users to try Onshape Professional for free for up to six months.
2. Onshape AI Advisor: An AI-powered tool to assist users in designing products faster, expected to launch by the end of 2024.
3. CAD and PDM Conversion Tools: Expanding capabilities to simplify switching to Onshape.
4. Onshape Government: A new option complying with ITAR and FedRAMP requirements.
The collaboration aims to get Onshape into more designers' hands, accelerate product enhancements, and showcase AI's role in product development.
PTC (NASDAQ: PTC) has appointed Rob Bernshteyn to its Board of Directors, effective September 9, 2024. Bernshteyn, a veteran with over 30 years of experience in enterprise software, notably served as CEO and Chairman of Coupa Software for 14 years. During his tenure, he led Coupa's transformation into a high-growth industry leader and its successful IPO in 2016. Currently a General Partner at ICONIQ Growth, Bernshteyn brings valuable expertise in executive management, product development, and go-to-market strategies.
PTC's CEO, Neil Barua, expressed confidence in Bernshteyn's ability to contribute to the company's growth and customer delivery. Bernshteyn, who holds an MBA from Harvard Business School, will serve on PTC's Board's Compensation & People Committee.
PTC (Nasdaq: PTC) has announced its participation in four upcoming investor conferences in 2024. These include:
- Citi's 2024 Global TMT Conference on September 4th at 8:20am ET
- 2024 RBCCM Global TIMT Conference on November 19th
- Barclays 22nd Annual Global Technology Conference on December 11th
- Nasdaq 51st Investor Conference on December 11th
Webcasts and replays of these conferences will be available on PTC's investor relations website. The company notes that statements made during these conferences are accurate as of the event date, and PTC is not obligated to update any live statements or archived calls. Discussions may include forward-looking statements.
PTC reported solid Q3 2024 results with 10% year-over-year ARR growth to $2.126 billion and 29% free cash flow growth to $212 million. Revenue declined 4% to $519 million, while non-GAAP EPS was $0.98, down 1% year-over-year. For FY2024, PTC updated guidance to 11-12% constant currency ARR growth and maintained free cash flow guidance of ~$725 million.
Key highlights:
- Q3 constant currency ARR grew 12% year-over-year
- Operating cash flow increased 26% to $214 million
- Non-GAAP operating margin was 32%, down ~240 bps
- Gross debt reduced 23% year-over-year to $1.816 billion
PTC cited its differentiated product portfolio and subscription business model as drivers of growth despite a challenging selling environment. The company is focusing investments on five key areas to drive future expansion.
PTC (Nasdaq: PTC) has announced that it will release its fiscal 2024 third-quarter results on Wednesday, July 31st, 2024, after the close of the stock market.
Following the release, senior management will host a live webcast and conference call at 5:00 PM Eastern Time to discuss the results.
Investors can access the earnings press release, presentation, and financial data tables on the Investor Relations section of PTC's website.
A replay of the webcast will also be available for those who are unable to attend the live event.
SyBridge Technologies has launched SyBridge Studio, a cutting-edge manufacturing insights app, on the PTC Onshape App Store as of June 10, 2024. This tool integrates SyBridge's extensive expertise in injection mold tooling and production-grade additive manufacturing. Leveraging advanced AI algorithms, the app offers automated Design for Manufacturability (DFM) checks, injection mold action identification, and part thickness analysis. The app aims to help engineers and designers optimize designs, validate manufacturability, and shorten time to market. Future enhancements will include cost insights, material recommendations, and on-demand part purchasing.
PTC announced solid results for Q2 of Fiscal 2024, reflecting ARR growth, cash flow stability, and earnings per share increase. The company updated mid-term targets with low double-digit ARR growth. Operating cash flow, free cash flow, and revenue showed significant improvement year over year. Despite a decline in gross debt, revenue and EPS performed well, demonstrating a positive outlook. The company's focus on expanding operating efficiency and delivering value to customers is evident in the financial results.
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