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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 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.
PTC (Nasdaq: PTC) will release its fiscal 2023 first quarter results on February 1, 2023, after the market closes. A live webcast and conference call will follow on the same day at 5 PM ET to discuss these results. Interested parties can access the earnings press release, presentation, and financial tables in advance via the Investor Relations section of PTC's website. The company aims to provide insights into its anticipated financial results and growth strategies during the conference call, though actual results may vary due to various risks and uncertainties.
On January 4, 2023, PTC completed its acquisition of ServiceMax, a move aimed at enhancing its closed-loop Product Lifecycle Management (PLM) portfolio with advanced field service management (FSM) capabilities. The acquisition is expected to strengthen PTC's offerings for managing complex long-lifecycle products and improve customer satisfaction and revenue growth. Jim Heppelmann, PTC's CEO, emphasized that this acquisition marks a significant expansion of their service capabilities and aims to broaden ServiceMax's global reach.
PTC (NASDAQ: PTC) announced its software solutions, Creo and Windchill, played a crucial role in the development of the National Ignition Facility (NIF), which achieved a significant breakthrough in nuclear fusion. This achievement involved over 3.5 million components and 750,000 unique part designs, making it one of the largest assemblies ever modeled in 3D CAD. PTC's President, Jim Heppelmann, emphasized the collaboration with Lawrence Livermore National Laboratory and the U.S. Department of Energy over the past 25 years, showcasing PTC's commitment to innovation and sustainability.
PTC (NASDAQ: PTC) announced the return of its annual LiveWorx event from May 15-18, 2023 in Boston's Seaport Innovation District. This premier event focuses on digital transformation for manufacturers and will feature keynote presentations, breakout sessions, and hands-on demonstrations. PTC President and CEO Jim Heppelmann will kick off the event with a keynote titled "Path to the Future: Products in the Age of Transformation" on May 16. Registration is currently open for attendees.
PTC has announced its agreement to acquire ServiceMax for approximately $1.46 billion in cash, enhancing PTC's capabilities in product lifecycle management (PLM). This acquisition aims to improve field service management (FSM) by integrating ServiceMax's software, which supports manufacturers of complex products. The deal is expected to be accretive to PTC's software as a service (SaaS) annual recurring revenue (ARR) and cash flow in fiscal year 2023. The transaction, pending regulatory approval, is anticipated to close in early January 2023.
PTC reported strong financial results for Q4 and FY2022, highlighting a 7% ARR growth, with organic ARR up 6% and significant cash flow increases. The company's cash from operations reached $435 million, marking an 18% year-over-year rise, while free cash flow rose by 21% to $416 million. Despite currency fluctuations and challenges in the market, PTC's subscription model and operational execution led to exceeding guidance across key metrics. Looking ahead, PTC expects 10%-14% constant currency ARR growth for FY2023, with free cash flow projected around $560 million.
PTC (Nasdaq: PTC) announced a virtual investor meeting on November 17, 2022, from 10:00 am to 12:00 pm (ET). Senior management will discuss the company's strategy and outlook, including a Q&A session for investors. This meeting precedes PTC's participation in two upcoming conferences: the Nasdaq 47th Investor Conference on December 6 and the Barclays Global TMT Conference on December 7. The discussions may include forward-looking statements about PTC's financial projections and product development.
PTC, listed on NASDAQ as PTC, will release its fiscal 2022 fourth quarter and full year results on November 2, 2022, after market close. A live webcast and conference call will follow at 5 PM ET to discuss these results. Prior to the event, the earnings press release and financial data will be available on PTC's Investor Relations website. The company emphasizes that statements made during the call may contain forward-looking information subject to various risks and uncertainties.
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