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 reported strong financial performance for Q2 FY'23, with an ARR growth of 23% and organic ARR growth of 11%. ServiceMax and Codebeamer contributed significantly, driving constant currency ARR growth to 26%. Cash flow from operations reached $211 million, marking a 48% increase year-over-year, while free cash flow also grew by 48% to $207 million. Revenue rose 7% to $542 million, although operating margin declined 890 bps to 23%. EPS fell 30% to $0.532, impacted by acquisition-related charges. PTC raised its FY'23 cash flow guidance and narrowed its ARR guidance range, reflecting confidence amid macroeconomic challenges.
PTC (Nasdaq: PTC) announces its fiscal 2023 second quarter results will be released on April 26, 2023, after market close. A live webcast and conference call will follow at 5:00 PM ET on the same day for management to discuss the results. Investors can also access the earnings press release, presentation, and financial data on the PTC Investor Relations website.
Forward-looking statements regarding PTC's anticipated financial outcomes will be part of the discussion, with outcomes subject to risks and uncertainties as detailed in SEC filings.
On March 7, 2023, PTC (Nasdaq: PTC) announced its participation in several upcoming virtual investor conferences. These include:
- Morgan Stanley Technology, Media & Telecom Conference on March 8, 2023, at 11:35 am PT.
- J.P. Morgan 51st Annual Global Technology, Media and Communications Conference on May 22, 2023.
- Stifel 2023 Cross Sector Insight Conference on June 6, 2023.
Investors can access the webcast for these events via the provided link. PTC highlighted its commitment to transparency, noting that statements made are valid only as of their respective dates, and future results may differ.
PTC announced the extension of CEO James Heppelmann's executive agreement for an additional three years, maintaining leadership through fiscal 2026. Michael DiTullio has been promoted to President and COO, overseeing crucial business areas such as product development and customer success. Under Heppelmann’s leadership, PTC has transformed significantly, achieving a six-fold growth in enterprise value and enhancing its technology portfolio while focusing on a subscription model and SaaS transformation.
PTC (NASDAQ: PTC) reported strong financial results for Q1 FY'23, with ARR growth of 11% and cash from operations rising 31% year-over-year, totaling $181 million. Organic ARR increased 10%, while constant currency ARR grew by 15%, due in part to the acquisition of Codebeamer. The company has raised its cash flow guidance and narrowed its ARR guidance range for FY'23, forecasting ARR at constant currency between $1,910 million and $1,960 million. Additionally, PTC's earnings per share climbed 63% to $0.63, reflecting solid market execution and a resilient subscription model despite macroeconomic uncertainties.
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