PTC Inc. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) |
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| Three Months Ended |
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| Nine Months Ended |
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| June 30, |
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| June 30, |
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| June 30, |
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| June 30, |
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| 2022 |
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| 2021 |
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| 2022 |
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| 2021 |
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Cash flows from operating activities: |
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Net income | $ | 70,476 |
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| $ | 51,203 |
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| $ | 206,244 |
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| $ | 183,980 |
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Stock-based compensation |
| 49,420 |
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| 43,068 |
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| 133,283 |
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| 133,896 |
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Depreciation and amortization |
| 21,987 |
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| 22,501 |
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| 65,456 |
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| 62,670 |
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Amortization of right-of-use lease assets |
| 8,612 |
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| 9,075 |
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| 26,149 |
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| 28,031 |
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| Loss (gain) on investment |
| (2,993) |
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| - |
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| 31,854 |
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| - |
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| Gain on divestiture of business |
| (29,808) |
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| - |
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| (29,808) |
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| - |
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| Operating lease liability |
| (7,184) |
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| (3,124) |
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| (10,544) |
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| (13,106) |
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| Accounts receivable |
| 12,918 |
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| 5,744 |
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| 25,228 |
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| (4,110) |
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| Accounts payable and accruals |
| 23,165 |
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| 16,851 |
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| (16,768) |
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| 15,955 |
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| Deferred revenue |
| (28,975) |
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| (21,477) |
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| 18,038 |
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| 30,733 |
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| Income taxes |
| 12,403 |
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| (8,580) |
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| 6,124 |
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| (13,524) |
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| Other |
| (13,255) |
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| (27,227) |
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| (58,429) |
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| (101,037) |
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| Net cash provided by operating activities |
| 116,766 |
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| 88,034 |
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| 396,827 |
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| 323,488 |
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| Capital expenditures |
| (4,470) |
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| (3,420) |
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| (9,979) |
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| (11,662) |
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| Acquisition of businesses, net of cash acquired (1) |
| (274,974) |
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| (581) |
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| (274,974) |
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| (717,779) |
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| Purchase of intangible assets |
| (999) |
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| - |
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| (5,453) |
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| (550) |
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| Borrowings (payments) on debt, net |
| 159,000 |
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| (30,000) |
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| (16,000) |
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| 472,000 |
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| Repurchases of common stock |
| - |
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| - |
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| (125,000) |
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| - |
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| Net proceeds associated with issuance of common stock |
| - |
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| - |
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| 10,857 |
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| 10,484 |
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| Payments of withholding taxes in connection with vesting of stock-based awards |
| (12,261) |
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| (14,973) |
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| (62,856) |
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| (42,215) |
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| Net proceeds from marketable securities (2) |
| - |
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| - |
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| - |
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| 58,469 |
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| Net proceeds from sale of investments (3) |
| 4,213 |
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| - |
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| 46,906 |
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| - |
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| Divestiture of business, net (4) |
| 32,518 |
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| - |
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| 32,518 |
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| - |
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| Other financing & investing activities |
| 6,736 |
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| (488) |
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| 17,804 |
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| (3,570) |
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| Foreign exchange impact on cash |
| (10,915) |
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| 1,103 |
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| (14,654) |
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| 1,646 |
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| Net change in cash, cash equivalents, and restricted cash |
| 15,614 |
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| 39,675 |
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| (4,004) |
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| 90,311 |
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| Cash, cash equivalents, and restricted cash, beginning of period |
| 307,428 |
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| 326,596 |
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| 327,046 |
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| 275,960 |
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| Cash, cash equivalents, and restricted cash, end of period | $ | 323,042 |
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| $ | 366,271 |
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| $ | 323,042 |
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| $ | 366,271 |
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| (1) In the three months ended June 30, 2022, we acquired Intland for approximately $275.0 million, net of cash acquired. In the three months ended March 31, 2021, we acquired Arena for approximately $715 million, net of cash acquired. |
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| (2) In the three months ended December 31, 2020, we sold all of our available-for-sale securities. |
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| (3) In the three months ended March 31, 2022, we sold an equity investment in a publicly-traded company for $42.7 million. |
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| (4) In the three months ended June 30, 2022, we sold a portion of our PLM services business. |
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PTC Announces Third fiscal Quarter 2022 Results
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