PTC enables global manufacturers to realize double-digit impact with software solutions that enable them to accelerate product and service innovation, improve operational efficiency, and increase workforce productivity. In combination with an extensive partner network, PTC provides customers flexibility in how its technology can be deployed to drive digital transformation – on premises, in the cloud, or via its pure SaaS platform. At PTC, we don't just imagine a better world, we enable it.
PTC Investor Relations Contact
Matt Shimao
SVP, Investor Relations
Email Contact
investor@ptc.com
PTC Inc. |
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UNAUDITED CONSOLIDATED STATEMENTS OF INCOME |
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(in thousands, except per share data) |
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| Three Months Ended |
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| Six Months Ended |
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| March 31, |
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| March 31, |
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| March 31, |
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| March 31, |
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| 2022 |
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| 2021 |
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| 2022 |
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| 2021 |
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Revenue: |
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Recurring revenue | $ | 452,710 |
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| $ | 414,845 |
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| $ | 857,835 |
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| $ | 799,803 |
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Perpetual license |
| 9,540 |
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| 6,922 |
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| 18,008 |
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| 15,385 |
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Professional services |
| 42,977 |
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| 40,018 |
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| 87,105 |
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| 75,648 |
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| Total revenue (1) |
| 505,227 |
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| 461,785 |
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| 962,948 |
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| 890,836 |
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| Cost of revenue (2) |
| 93,337 |
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| 89,448 |
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| 188,455 |
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| 176,278 |
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| Gross margin |
| 411,890 |
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| 372,337 |
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| 774,493 |
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| 714,558 |
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| Operating expenses: |
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| Sales and marketing (2) |
| 116,408 |
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| 129,178 |
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| 241,884 |
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| 253,903 |
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| Research and development (2) |
| 81,935 |
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| 72,545 |
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| 162,469 |
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| 143,380 |
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| General and administrative (2) |
| 47,469 |
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| 60,805 |
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| 99,409 |
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| 110,333 |
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| Amortization of acquired intangible assets |
| 8,450 |
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| 7,650 |
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| 16,934 |
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| 14,197 |
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| Restructuring and other charges, net |
| (1,562) |
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| 469 |
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| 32,429 |
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| 716 |
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| Total operating expenses |
| 252,700 |
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| 270,647 |
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| 553,125 |
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| 522,529 |
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| Operating income |
| 159,190 |
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| 101,690 |
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| 221,368 |
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| 192,029 |
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| Other expense, net |
| (55,624) |
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| (15,333) |
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| (62,426) |
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| (28,265) |
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| Income before income taxes |
| 103,566 |
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| 86,357 |
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| 158,942 |
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| 163,764 |
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| Provision (benefit) for income taxes |
| 13,887 |
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| (22,905) |
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| 23,174 |
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| 30,987 |
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| Net income | $ | 89,679 |
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| $ | 109,262 |
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| $ | 135,768 |
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| $ | 132,777 |
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| Earnings per share: |
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| Basic | $ | 0.77 |
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| $ | 0.94 |
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| $ | 1.16 |
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| $ | 1.14 |
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| Weighted average shares outstanding |
| 117,008 |
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| 116,777 |
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| 117,135 |
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| 116,587 |
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| Diluted | $ | 0.76 |
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| $ | 0.92 |
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| $ | 1.15 |
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| $ | 1.13 |
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| Weighted average shares outstanding |
| 117,811 |
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| 118,331 |
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| 118,162 |
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| 117,966 |
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| (1) See supplemental financial data for revenue by license, support, and professional services. Recurring revenue for the three and six months ended March 31, 2022 includes an adjustment of $0.2 million and $1.3 million, respectively, due to a reduction of acquired deferred revenue; compared to an adjustment in the three and six months ended March 31, 2021 of $3.8 million. |
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| (2) See supplemental financial data for additional information about stock-based compensation. |
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