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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 is set to release its fiscal 2021 first-quarter results on January 27 after market close. A conference call will occur at 5 PM ET on the same day, where management will discuss the results. The earnings press release and remarks will be available on the company's Investor Relations website prior to the event. PTC emphasizes its commitment to providing innovative software solutions to improve operational efficiency and drive digital transformation in the manufacturing sector. Future results may vary due to various risks and uncertainties.
PTC has announced the acquisition of Arena Solutions, a leader in SaaS-based product lifecycle management (PLM) platforms, for $715 million. This strategic purchase aims to enhance PTC's position in the growing SaaS product development software market, particularly as demand accelerates post-COVID-19. Arena is projected to end 2020 with $50 million in annual recurring revenue, showing double-digit growth. The acquisition is set to be neutral to PTC's FY'21 cash flow and is anticipated to be accretive in FY'22 and beyond. The deal is pending regulatory review and expected to close in PTC's fiscal Q2 2021.
BOSTON, Nov. 11, 2020 /PRNewswire/ -- PTC (Nasdaq: PTC) will host an investor meeting on Tuesday, December 15, 2020, from 9:00am to 12:00pm (ET) via webcast. Senior management will discuss PTC's outlook and include a Q&A session. The discussion may cover forward-looking statements regarding PTC's strategy, financial model, and anticipated results. Investors can access the webcast at www.ptc.com/for/investors.htm. The meeting will also highlight PTC's role in enabling global manufacturers to drive digital transformation.
PTC has announced its participation in several upcoming virtual investor conferences. The key events include:
- RBC Capital Markets Conference: November 18, 2020, at 10:15 AM ET
- Nasdaq Virtual Investor Conference: December 2, 2020, at 12 PM ET
- Barclays Conference: December 9, 2020, at 1:00 PM ET
- PTC FY21 Investor Day: December 15, 2020, at 9:00 AM ET
Webcasts of these conferences can be accessed via PTC's investor relations website.
PTC announced the appointment of Troy K. Richardson as Executive Vice President and Chief Operating Officer, effective November 16, 2020. With over three decades of leadership experience in the technology sector, Richardson aims to enhance PTC's operational efficiency and growth strategy amidst increasing demand for digital solutions. He previously held significant roles at major corporations like Oracle and IBM. President and CEO Jim Heppelmann expressed confidence in Richardson's capabilities to drive the company forward during a pivotal time in its evolution.
PTC has been recognized as a Leader in Gartner's Magic Quadrant for Industrial IoT Platforms for 2020. The company achieved this status by being positioned furthest to the right for its completeness of vision. This accolade underscores PTC's strong understanding of the Industrial IoT market and its innovative business model, which simplifies customer success. The ThingWorx platform is noted for facilitating digital transformation in industrial settings, enabling robust IoT solutions and enhancing operational performance.
PTC reported strong financial results for Q4 and FY 2020, showing resilience amid the pandemic. Annual Recurring Revenue (ARR) reached $1.27 billion, growing 14% year-over-year. Q4 revenue was $391 million, a 17% increase from Q4 2019, driven by Core and Growth businesses. Operating margin improved to 17% in Q4, while non-GAAP operating margin reached 32%. For FY 2021, PTC expects ARR of $1.385 billion to $1.420 billion, with revenue growth of 6% to 10%. The outlook reflects a stable economic environment and a focus on innovation.
PTC (NASDAQ: PTC) is set to release its fiscal 2020 fourth quarter and full-year results on October 28, 2020, after market close. A live webcast and conference call will follow at 5 PM ET the same day to discuss the results. Interested parties can access the earnings release and prepared remarks beforehand on the Investor Relations page.
The company warns that actual results may differ from projections due to risks outlined in SEC filings.
On October 6, 2020, PTC announced a new employment contract for CEO James 'Jim' Heppelmann, extending his tenure by three years and including a performance-based equity grant. Heppelmann has led the company into high-growth markets, achieving over 40% revenue growth while doubling recurring revenue and margins. Notably, PTC's enterprise value has increased five-fold during his leadership. Under his guidance, PTC has modernized its business model and has been recognized as a top workplace. Heppelmann's contract reflects confidence in continuing the company's innovative trajectory.
HighByte has entered into an agreement with PTC to become a Connected Technology Partner in the Kepware Partner Program. This partnership aims to enhance the marketing and promotion of HighByte's Intelligence Hub and PTC's KEPServerEX solutions. The collaboration focuses on accelerating Industry 4.0 initiatives by utilizing the OPC UA standard for industrial data connectivity. HighByte's Intelligence Hub version 1.1 is already compatible with PTC's offerings, signaling a strong technical alignment. The partnership creates opportunities for new business collaborations.
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