PTC Announces Fiscal First Quarter 2021 Results

 

PTC Inc.


SUPPLEMENTAL FINANCIAL DATA FOR REVENUE AND STOCK-BASED COMPENSATION


(in thousands, except per share data)


















Revenue by license, support and services is as follows:









Three Months Ended



December 31,



December 28,



2020



2019


License revenue (1)

$

177,175



$

123,430


Support and cloud services revenue


216,245




190,936


Professional services revenue


35,630




41,744


Total revenue

$

429,050



$

356,110










(1)  License revenue includes the portion of subscription revenue allocated to license.










The amounts in the income statement include stock-based compensation as follows:











Three Months Ended



December 31,



December 28,



2020



2019


Cost of revenue

$

4,434



$

3,043


Sales and marketing


14,999




7,452


Research and development


8,443




6,932


General and administrative


18,212




10,509


Total stock-based compensation

$

46,088



$

27,936


 

PTC Inc.


NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS (UNAUDITED)


(in thousands, except per share data)











Three Months Ended



December 31,



December 28,



2020



2019










GAAP gross margin

$

342,220



$

268,705


Stock-based compensation


4,434




3,043


Amortization of acquired intangible assets included in cost of revenue


6,267




6,799


Non-GAAP gross margin

$

352,921



$

278,547










GAAP operating income

$

90,338



$

30,425


Stock-based compensation


46,088




27,936


Amortization of acquired intangible assets


12,814




13,576


Acquisition-related and other transactional charges


3,916




7,129


Restructuring and other charges, net


247




14,034


Non-GAAP operating income (1)

$

153,403



$

93,100










GAAP net income

$

23,515



$

35,455


Stock-based compensation


46,088




27,936


Amortization of acquired intangible assets


12,814




13,576


Acquisition-related and other transactional charges


3,916




7,129


Restructuring and other charges, net


247




14,034


Income tax adjustments (2)


27,151




(31,966)


Non-GAAP net income

$

113,731



$

66,164










GAAP diluted earnings per share

$

0.20



$

0.31


Stock-based compensation


0.39




0.24


Amortization of acquired intangibles


0.11




0.12


Acquisition-related and other transactional charges


0.03




0.06


Restructuring and other charges, net


-




0.12


Income tax adjustments


0.23




(0.28)


Non-GAAP diluted earnings per share

$

0.97



$

0.57










(1) Operating margin impact of non-GAAP adjustments:




Three Months Ended



December 31,



December 28,



2020



2019


GAAP operating margin


21.1

%



8.5

%

Stock-based compensation


10.7

%



7.8

%

Amortization of acquired intangibles


3.0

%



3.8

%

Acquisition-related and other transactional charges


0.9

%



2.0

%

Restructuring and other charges, net


0.1

%



3.9

%

Non-GAAP operating margin


35.8

%



26.1

%



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