(1) | Cash from operations and free cash flow include ~$15 million of restructuring payments, and free cash flow is net of capital expenditures of ~$25 million. |
(2) | The FY'21 non-GAAP guidance excludes the estimated items outlined in the table below, as well as any tax effects and discrete tax items (which are not known or reflected). |
In millions |
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| FY'21 |
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Intangible asset amortization expense |
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| $53 |
Stock-based compensation expense |
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| $175 |
Total Estimated Pre-Tax GAAP adjustments |
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| $228 |
PTC's Fiscal Fourth Quarter and Fiscal Year 2020 Results Conference Call, Prepared Remarks and Data Tables
Prepared remarks and financial data tables have been posted to the Investor Relations section of our website at ptc.com. The Company will host a conference call to discuss results at 5:00 pm ET on Wednesday, October 28, 2020.
To access the live webcast, we recommend you visit PTC's Investor Relations website at investor.ptc.com 15 minutes before the scheduled start time to download any necessary audio or plug-in software, and the accompanying Prepared Remarks document.
To participate in the live conference call, dial 866-987-6881 or 270-215-9571 and provide the conference ID: 6168834. The call will be recorded, and replay will be available via webcast on PTC's Investor Relations website.
PTC Inc. | |||||||||
UNAUDITED CONSOLIDATED STATEMENTS OF INCOME | |||||||||
(in thousands, except per share data) | |||||||||
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| Three Months Ended |
| Twelve Months Ended | ||||
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| September 30, |
| September 30, |
| September 30, |
| September 30, |
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| 2020 |
| 2019 |
| 2020 |
| 2019 |
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Revenue: |
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| Recurring revenue | $ 350,097 |
| $ 282,584 |
| $ 1,281,949 |
| $ 1,017,398 | |
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| Perpetual license | 8,680 |
| 9,347 |
| 32,668 |
| 70,702 | |
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| Professional services | 32,204 |
| 43,073 |
| 143,798 |
| 167,531 | |
Total revenue(1) | 390,981 |
| 335,004 |
| 1,458,415 |
| 1,255,631 | ||
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| Cost of revenue (2) | 84,615 |
| 85,417 |
| 334,271 |
| 325,378 | ||
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| Gross margin | 306,366 |
| 249,587 |
| 1,124,144 |
| 930,253 | ||
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| Operating expenses: |
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| Sales and marketing (2) | 115,815 |
| 101,307 |
| 435,451 |
| 417,449 | |
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| Research and development (2) | 69,884 |
| 64,113 |
| 256,575 |
| 246,888 | |
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| General and administrative (2) | 45,931 |
| 25,911 |
| 159,826 |
| 127,919 | |
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| Amortization of acquired intangible assets | 7,346 |
| 6,055 |
| 28,713 |
| 23,841 | |
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| Restructuring and other charges, net | 378 |
| 5,650 |
| 32,716 |
| 51,114 | |
| Total operating expenses | 239,354 |
| 203,036 |
| 913,281 |
| 867,211 | ||
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| Operating income | 67,012 |
| 46,551 |
| 210,863 |
| 63,042 | ||
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| Other expense, net | (11,631) |
| (12,767) |
| (76,157) |
| (42,742) | |
| Income before income taxes | 55,381 |
| 33,784 |
| 134,706 |
| 20,300 | ||
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| Provision for income taxes | 1,975 |
| 23,958 |
| 4,011 |
| 47,760 | |
| Net income (loss) | $ 53,406 |
| $ 9,826 |
| $ 130,695 |
| $ (27,460) | ||
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| Earnings (loss) per share: |
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| Basic | $ 0.46 |
| $ 0.09 |
| $ 1.13 |
| $ (0.23) | |
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| Weighted average shares outstanding | 116,069 |
| 115,025 |
| 115,663 |
| 117,724 |
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| Diluted | $ 0.46 |
| $ 0.08 |
| $ 1.12 |
| $ (0.23) | |
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| Weighted average shares outstanding | 117,097 |
| 115,897 |
| 116,267 |
| 117,724 |
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| (1) | See supplemental financial data for revenue by license, support, and professional services. | |||||||
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| (2) | See supplemental financial data for additional information about stock-based compensation. | |||||||
