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 (NASDAQ: PTC) has secured a five-year contract with the United States Air Force (USAF) to expand its Servigistics Service Parts Management SaaS solution. This expansion is potentially worth up to $95 million if all options are exercised, supporting the USAF's ESCAPE supply chain program. The contract aims to enhance asset availability and optimize the service parts supply chain valued at $76 billion. PTC's solution is expected to improve readiness and reduce legacy system reliance.
PTC (NASDAQ: PTC) will release its fiscal 2022 first quarter results on January 26 after market close. A live webcast and conference call with senior management will follow at 5 PM ET on the same day to discuss the results. Access to the earnings press release and financial data will be available on the company's Investor Relations page prior to the call. This announcement prepares investors for potential insights into PTC's financial performance, product development, and market positioning.
BOSTON, Dec. 13, 2021 /PRNewswire/ -- PTC (NASDAQ: PTC) announced the appointment of Michal Katz to its Board of Directors, effective February 8, 2022. Katz brings over 20 years of Wall Street experience, currently leading Investment and Corporate Banking at Mizuho Americas. Her expertise in corporate finance and mergers and acquisitions is expected to enhance PTC's growth strategy. CEO Jim Heppelmann emphasized that Katz's insights will support PTC's continued innovation and shareholder value creation as the company embarks on its next phase of transformation towards SaaS.
On November 23, 2021, PTC and Rockwell Automation refuted a Berenberg Capital Markets report alleging Rockwell is severing financial ties with PTC and selling its 8.98% stake. Both companies confirmed that the strategic alliance remains intact, providing value-added solutions to manufacturing customers. Since 2018, Rockwell's substantial $1 billion investment in PTC allows for potential share sales under certain conditions. A new resale registration statement has been filed by PTC to comply with contractual obligations, further securing the ongoing partnership.
PTC (Nasdaq: PTC) announced its participation in several upcoming virtual investor conferences. Key events include the Nasdaq 43rd Investor Conference on November 30, 2021, at 8:30 am ET and the Barclays Global TMT Conference on December 8, 2021, at 8:35 am ET. Additionally, PTC will host its FY22 Investor Day on December 15, 2021, from 10:00 am to 1:00 pm ET, featuring discussions on the company's outlook and a Q&A session. More details and webcasts are available on PTC's investor relations website.
PTC reported strong fiscal Q4 and full-year results for 2021, achieving a 23% increase in Q4 revenue to $481 million and 24% to $1.807 billion for the year. The company experienced a 16% growth in ARR to $1.47 billion and substantial operating cash flow growth of 58%. PTC is accelerating its SaaS transition, expecting 10-13% ARR growth for FY22, with significant investments in its Atlas platform. EPS surged to $2.46 in Q4 from $0.46, bolstered by a $69 million gain on Matterport investment. However, the company anticipates $45 to $50 million in restructuring charges in Q1 FY22.
On November 1, 2021, PTC announced its recognition as a Leader in multiple industry reports related to Industrial IoT, including ABI Research's Smart Manufacturing Platforms, Forrester Wave, IDC MarketScape, and Gartner Magic Quadrant. PTC is the only vendor to achieve this status across all four assessments, reinforcing its commitment to the market. CEO Jim Heppelmann emphasized the accomplishment as validation of PTC's strategies. The firm continues to develop its ThingWorx platform to address evolving manufacturing needs.
PTC has launched the ThingWorx Digital Performance Management Solution (DPM) at the Manufacturing Live virtual event, aimed at enhancing efficiency for manufacturing companies. This unique offering allows real-time performance insights, simplifying complex data into easily understandable hours for all levels of staff. It aids with identifying production bottlenecks and validating transformation outcomes through real-time data. The company positions this software as a significant step in its IIoT growth strategy, promising rapid results within 90 days.
PTC (Nasdaq: PTC) will report its fiscal 2021 Q4 and full-year results on November 3, 2021, after market close. The senior management team will host a live webcast and conference call at 5 PM Eastern Time on the same day to discuss the results. Investors can access the earnings release, financial data, and the presentation in advance via the PTC Investor Relations website. Upcoming statements may include forward-looking financial results and product development, while actual results may differ due to risks outlined in SEC filings.
PTC and Volvo Group have announced a strategic collaboration focused on digital engineering, unifying their CAD platforms. This partnership positions PTC's Windchill® PLM and Creo® CAD software as the primary tools for Volvo Group's vehicle design. The collaboration aims to enhance product data reuse and promote a digital thread strategy, ultimately transforming product innovation processes. This initiative is expected to give Volvo a competitive edge in sustainable transportation solutions.
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