PTC Announces Second Fiscal Quarter 2024 Results

 

PTC Inc.


UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS


(in thousands)







































Three Months Ended



Six Months Ended



March 31,



March 31,



March 31,



March 31,



2024



2023



2024



2023














Cash flows from operating activities:












Net income

$

114,445



$

63,504



$

180,832



$

138,539


Stock-based compensation


54,191




52,246




113,204




93,750


Depreciation and amortization


26,922




27,709




54,144




49,037


Amortization of right-of-use lease assets


7,735




8,510




15,459




16,564


Operating lease liability


(5,340)




(2,910)




(10,293)




4,985


Accounts receivable


(46,443)




(19,034)




107,507




86,478


Accounts payable and accruals


(109)




2,492




(64,796)




(7,358)


Deferred revenue


70,065




55,727




40,971




36,092


Income taxes


4,620




4,667




18,087




(12,169)


Other


24,644




18,037




(17,044)




(14,049)


Net cash provided by operating activities


250,730




210,948




438,071




391,869














Capital expenditures


(3,639)




(3,770)




(8,202)




(12,950)


Acquisition of businesses, net of cash acquired (1)


-




(828,271)




(93,457)




(828,271)


Borrowings (payments) on debt, net (2)


(254,230)




566,000




304,174




566,000


Deferred acquisition payment (3)


-




-




(620,040)




-


Net proceeds associated with issuance of common stock


12,709




10,592




12,709




10,592


Payments of withholding taxes in connection with vesting of stock-based awards


(20,858)




(3,599)




(71,184)




(56,022)


Settlement of net investment hedges


5,123




(1,749)




(2,224)




(12,544)


Purchases of investments


-




(5,823)




-




(5,823)


Credit facility origination costs


-




(12,005)




-




(13,355)


Other financing & investing activities


-




-




-




(371)


Foreign exchange impact on cash


(5,860)




565




829




9,181














Net change in cash, cash equivalents, and restricted cash


(16,025)




(67,112)




(39,324)




48,306


Cash, cash equivalents, and restricted cash, beginning of period


265,499




388,306




288,798




272,888


Cash, cash equivalents, and restricted cash, end of period

$

249,474



$

321,194



$

249,474



$

321,194














Supplemental cash flow information:












Cash paid for interest (3)

$

49,263



$

24,546



$

94,020



$

29,370














(1) In Q1'24, we acquired pure-systems for $93 million, net of cash acquired. In Q2'23, we acquired ServiceMax Inc. for $1,448
million, net of cash acquired. We paid $828 million in Q2'23 and the remaining $620 million in Q1'24.


(2) In Q1'24, we borrowed $740 million to fund the ServiceMax deferred acquisition payment and the pure-systems acquisition.
We made $181 million in payments on our debt in Q1'24 and $254 million in Q2'24.


(3) In Q1'24, we made a payment of $650 million to settle the ServiceMax deferred acquisition payment liability, of which $620
million is a financing outflow and $30 million is an operating outflow and included in cash paid for interest.



« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9  Next Page »



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us
ShareCG™ is a trademark of Internet Business Systems, Inc.

Report a Bug Report Abuse Make a Suggestion About Privacy Policy Contact Us User Agreement Advertise