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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.
Accenture (NYSE: ACN) has collaborated with Vivienne Westwood to implement a new retail product lifecycle management (PLM) platform based on PTC's FlexPLM® solution. This platform enhances product development and sourcing, improving operational efficiency by integrating data sources and providing visibility across product categories. The initiative aims to streamline communication internally and with supply chain partners, previously hampered by manual processes. Accenture's expertise was noted as pivotal in delivering swift business value.
PTC (Nasdaq: PTC) announced participation in several upcoming virtual investor conferences this fall, starting with Citi's Global Technology Virtual Conference on September 13, 2021, at 8:50 AM ET. Other conferences include the BofA Industrial Software & Automation Summit on September 22, and the Berenberg CEO Conference on November 9, followed by the J.P. Morgan Digital Twin Seminar on November 10, and the RBC Global Technology Conference on November 16. Investors can access webcasts and replays through PTC's investor relations page.
PTC reported strong fiscal Q3 2021 results, achieving revenue of $436 million, a 24% increase year-over-year. The company's Annual Recurring Revenue (ARR) reached $1.42 billion, up 18%, reflecting a positive demand for its CAD and PLM solutions alongside new SaaS offerings. Operating margin stood at 17%, while non-GAAP operating margin improved to 31%. Free cash flow was $85 million. PTC maintained its fiscal year guidance, projecting ARR growth of 10%-12% and a GAAP EPS range of $1.59-$1.84, demonstrating solid operational execution amidst ongoing macroeconomic recovery.
Kalypso, a professional services firm, has been named PTC System Integrator Partner of the Year for demonstrating excellence in helping clients accelerate digital transformation. The firm also received the award for Greatest Growth of ACV, indicating significant growth in the sale of PTC solutions. Kalypso's collaboration with PTC and Rockwell Automation has led to substantial impacts for clients, focusing on delivering real business results. This recognition showcases Kalypso's commitment to PTC technologies as essential for business growth.
ServiceMax has announced a business combination with Pathfinder Acquisition Corporation (NASDAQ: PFDR), which will enable ServiceMax to become publicly traded under the symbol 'SMAX'. The transaction values ServiceMax at approximately $1.4 billion and is expected to generate about $335 million in gross proceeds. Additionally, ServiceMax plans to acquire LiquidFrameworks for $145 million, enhancing its position in field service management, particularly in the oil and gas sectors. The merger is anticipated to close in Q4 2021, subject to shareholder approval.
PTC (NASDAQ: PTC) will announce its fiscal Q3 2021 results on July 28, 2021, after market close. Following the release, a live conference call will take place at 5:00 PM ET to discuss the results. Interested parties can access the webcast at PTC Investor Relations. The company emphasizes that statements made during the call may include forward-looking statements, which are subject to risks and uncertainties that could impact actual results.
On May 27, 2021, PTC (NASDAQ: PTC) announced the launch of Vuforia Instruct, a new Software as a Service (SaaS) offering integrated with the Vuforia Enterprise AR Suite. This innovative tool allows manufacturers to create and scale interactive AR work instructions using 3D CAD data. Approximately 67% of manufacturers still use outdated paper processes, leading to inefficiencies and quality issues. Vuforia Instruct aims to enhance productivity, quality, and reduce downtime by providing real-time inspection feedback and contextual guidance for front-line workers.
PTC has announced a long-term strategic collaboration with Technion – Israel Institute of Technology, establishing a new Research & Development center at its Haifa campus. PTC will invest ₪15 million (approximately $5 million) to enhance research in fields like industrial IoT, augmented reality, and generative design. This initiative aims to improve learning processes in advanced manufacturing technology. The collaboration builds on a previous partnership since 2014, emphasizing the importance of academic and industry synergy.
PTC reported strong financial results for Q2 2021, with revenue reaching $462 million, a 28% increase compared to the previous year. Annual Recurring Revenue (ARR) grew to $1.39 billion, reflecting an 18% increase year-over-year. Notably, the company highlighted exceptional growth in its pure-SaaS CAD and PLM solutions, indicating robust demand in the market. The operating margin also improved significantly to 22%, up from 14% in Q2 2020. PTC's updated FY 2021 guidance anticipates continued growth despite currency fluctuations.
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