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 Q2 results for the fiscal year 2022, with ARR reaching $1.56 billion, up 13% year-over-year. Q2 revenue was $505 million, a 9% increase from Q2 2021, and cash from operations grew by 17% to $142 million. Due to this performance, PTC raised its fiscal 2022 guidance for ARR and free cash flow. The adjusted free cash flow also rose 22% to $158 million. However, GAAP earnings per share decreased to $0.76 due to non-cash charges. The company expects continued growth despite foreign exchange headwinds and exiting the Russian market.
PTC (NASDAQ: PTC) and ITC Infotech announced a partnership to enhance digital transformation initiatives through the adoption of PTC's Windchill PLM SaaS. ITC Infotech will acquire part of PTC's PLM implementation services and establish a new unit, DxP Services, merging PLM experts from both firms. This collaboration aims to streamline Windchill services for existing customers and facilitate the transition to SaaS. The deal is anticipated to close in PTC's fiscal Q3, with financial impacts discussed in the Q2 earnings call on April 27, 2022.
PTC has announced its intention to acquire Intland Software for approximately $280 million. This acquisition aims to enhance PTC's Application Lifecycle Management (ALM) capabilities, specifically targeting safety-critical and regulated industries. The deal is set to close in PTC's fiscal third quarter, pending regulatory approvals. Codebeamer™, Intland's cloud-ready ALM solution, will be integrated with PTC's existing offerings. The acquisition is expected to provide significant synergies and support PTC's strategy in digital transformation across various sectors.
PTC has launched Windchill+, a new product lifecycle management (PLM) software delivered via a modern SaaS model. This upgrade aims to enhance collaboration and speed up product development for manufacturers, who invested over $450 billion in digital transformation in 2021. Windchill+ simplifies deployment, facilitates secure external collaborations, and reduces reliance on legacy systems. The new architecture allows for continuous updates and improvement in PLM capabilities, supporting manufacturers' digital transformation initiatives.
PTC (Nasdaq: PTC) will release its fiscal 2022 second quarter results on April 27 after market close. A live webcast and conference call will follow at 5 PM ET. The earnings press release, presentation, and financial data will be available on the Company’s Investor Relations site. It is noted that forward-looking statements regarding financial results may differ due to various risks.
PTC (NASDAQ: PTC) has announced the appointment of Amar Hanspal to its Board of Directors, effective April 1, 2022. With over 30 years of experience, Hanspal previously served as CEO of Bright Machines and played a key role at Autodesk as Chief Product Officer and co-CEO. His expertise in digital transformation and SaaS model transition is expected to enhance PTC's strategic direction. Hanspal expressed enthusiasm for PTC's current SaaS transformation and aims to help maximize the company's potential.
BOSTON, March 2, 2022 /PRNewswire/ -- PTC (NASDAQ: PTC) announced participation in multiple virtual conferences in 2022. Key events include the KeyBanc Capital Markets' Emerging Tech Summit on March 8, J.P. Morgan's 50th Annual Conference on May 23, Baird's Global Consumer Conference on June 6, Stifel's Cross Sector Insight Conference on June 8, and the Nasdaq Investor Conference on June 14. Webcast details for these conferences are available online. PTC emphasizes that any forward-looking statements are subject to risks and uncertainties.
On February 2, 2022, PTC was named the overall leader in the enterprise augmented reality (AR) platforms market by ABI Research. The report highlighted PTC's Vuforia® Enterprise AR Solution Suite, emphasizing its strengths in innovation and implementation. The company excelled in areas such as computer vision, AI, and machine learning, along with a strong partner network and support for various AR hardware. This marks the second consecutive year PTC has received this recognition, solidifying its position in the AR market.
PTC reported strong Q1 2022 financial results with a constant currency ARR growth of 16%, reaching $1.51 billion. Operating cash flow was $138 million and adjusted free cash flow hit $145 million. Revenue increased to $458 million, a rise of 7% year-over-year. Operating margin was 14%, impacted by $34 million in restructuring costs. EPS rose to $0.39, compared to $0.20 last year. PTC raised its ARR guidance for FY 2022, reflecting strong demand for its SaaS offerings.
PTC has announced a strategic alliance with Schaeffler to standardize on PTC's solutions for an integrated IT landscape. This partnership enhances Schaeffler's digital transformation initiatives under their Roadmap 2025. The collaboration is built upon a successful 20-year relationship focusing on CAD and PLM solutions, crucial for developing digital twins and 3D models. The alliance aims for enterprise-wide integration, improving responses to market demands, innovation, and compliance with safety regulations.
FAQ
What is the current stock price of PTC (PTC)?
What is the market cap of PTC (PTC)?
What does PTC, Inc. specialize in?
Where is PTC, Inc. headquartered?
Who are some of PTC, Inc.'s notable clients?
What is the ThingWorx® platform?
How does PTC, Inc. contribute to digital transformation?
What financial growth has PTC, Inc. recently reported?
What are some of PTC, Inc.’s core products?
How many employees does PTC, Inc. have?
What is PTC, Inc.’s approach to technology deployment?
Who can I contact for investor relations information?
