PTC ANNOUNCES FIRST FISCAL QUARTER 2022 RESULTS

About PTC (NASDAQ: PTC)
PTC unleashes industrial innovation with award-winning, market-proven solutions that enable companies to differentiate their products and services, improve operational excellence, and increase workforce productivity. With PTC and its partner ecosystem manufacturers can capitalize on the promise of today's new technology to drive digital transformation.

PTC.com            @PTC            Blogs

PTC Investor Relations Contact              
Matt Shimao
SVP, Investor Relations
mshimao@ptc.com
investor@ptc.com


1 We include operating and non-GAAP financial measures in our operational highlights. The detailed definitions of these items and reconciliations of Non-GAAP financial measures to comparable GAAP measures are included below and in the reconciliation tables at the end of this press release.

 

PTC Inc.

UNAUDITED CONSOLIDATED STATEMENTS OF INCOME

(in thousands, except per share data)
















Three Months Ended




December 31,


December 31,




2021


2020







Revenue:




Recurring revenue

$                                              405,125


$                                             384,957

Perpetual license

8,468


8,463

Professional services

44,128


35,630

Total revenue(1)

457,721


429,050







Cost of revenue (2)

95,118


86,830







Gross margin

362,603


342,220







Operating expenses:




Sales and marketing (2)

125,476


124,725

Research and development (2)

80,534


70,835

General and administrative (2)

51,940


49,528

Amortization of acquired intangible assets 

8,484


6,547

Restructuring and other charges, net

33,991


247

Total operating expenses

300,425


251,882







Operating income

62,178


90,338

Other income (expense), net

(6,802)


(12,931)

Income before income taxes

55,376


77,407

Provision for income taxes

9,287


53,892

Net income

$                                                46,089


$                                                 23,515







Earnings per share:




Basic

$                                                      0.39


$                                                      0.20

Weighted average shares outstanding

117,347


116,401







Diluted

$                                                      0.39


$                                                      0.20

Weighted average shares outstanding

118,598


117,605













(1) See supplemental financial data for revenue by license, support, and professional services.

(2) See supplemental financial data for additional information about stock-based compensation.


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