PTC Inc. |
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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS |
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(in thousands) |
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| Three Months Ended |
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| Twelve Months Ended |
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| September 30, |
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| September 30, |
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| September 30, |
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| September 30, |
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| 2024 |
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| 2023 |
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| 2024 |
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| 2023 |
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Cash flows from operating activities: |
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Net income | $ | 126,523 |
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| $ | 45,603 |
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| $ | 376,333 |
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| $ | 245,540 |
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Stock-based compensation |
| 62,219 |
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| 58,891 |
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| 223,461 |
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| 206,459 |
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Depreciation and amortization |
| 26,847 |
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| 27,817 |
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| 108,119 |
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| 104,760 |
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Amortization of right-of-use lease assets |
| 10,145 |
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| 7,697 |
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| 33,288 |
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| 32,402 |
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Operating lease liability |
| 193 |
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| (569) |
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| (13,245) |
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| (1,929) |
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| Accounts receivable |
| (166,051) |
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| (198,128) |
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| (34,629) |
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| (98,607) |
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| Accounts payable and accruals |
| (15,999) |
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| 12,395 |
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| (15,964) |
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| 23,763 |
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| Deferred revenue |
| 73,006 |
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| 37,876 |
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| 81,399 |
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| 56,572 |
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| Income taxes |
| 27,761 |
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| 31,225 |
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| 25,966 |
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| 21,315 |
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| Other |
| (46,530) |
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| 26,962 |
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| (34,744) |
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| 20,586 |
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| Net cash provided by operating activities |
| 98,114 |
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| 49,769 |
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| 749,984 |
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| 610,861 |
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| Capital expenditures |
| (4,537) |
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| (5,779) |
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| (14,378) |
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| (23,814) |
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| Acquisition of businesses, net of cash acquired (1) |
| - |
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| - |
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| (93,457) |
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| (828,271) |
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| Borrowings (payments) on debt, net (2) |
| (63,125) |
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| (43,000) |
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| 45,924 |
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| 343,000 |
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| Deferred acquisition payment (3) |
| - |
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| - |
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| (620,040) |
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| - |
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| Net proceeds associated with issuance of common stock |
| 12,965 |
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| 11,060 |
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| 25,674 |
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| 21,652 |
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| Payments of withholding taxes in connection with vesting of stock-based awards |
| (9,412) |
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| (6,959) |
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| (102,001) |
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| (82,448) |
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| Settlement of net investment hedges |
| (16,904) |
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| 6,602 |
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| (13,078) |
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| (7,602) |
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| Credit facility origination costs |
| - |
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| - |
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| - |
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| (13,355) |
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| Other financing & investing activities |
| (4,183) |
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| (1,119) |
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| (4,183) |
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| (6,964) |
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| Foreign exchange impact on cash |
| 5,226 |
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| (3,984) |
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| 3,223 |
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| 2,851 |
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| Net change in cash, cash equivalents, and restricted cash |
| 18,144 |
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| 6,590 |
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| (22,332) |
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| 15,910 |
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| Cash, cash equivalents, and restricted cash, beginning of period |
| 248,322 |
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| 282,208 |
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| 288,798 |
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| 272,888 |
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| Cash, cash equivalents, and restricted cash, end of period | $ | 266,466 |
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| $ | 288,798 |
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| $ | 266,466 |
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| $ | 288,798 |
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| Supplemental cash flow information: |
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| Cash paid for interest (3) | $ | 24,641 |
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| $ | 37,855 |
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| $ | 137,036 |
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| $ | 89,801 |
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| (1) In FY'24, we acquired pure-systems for $93 million, net of cash acquired. In FY'23, we acquired ServiceMax Inc. for $1,448 million, net of cash acquired. We paid $828 million in FY'23 and the remaining $620 million in Q1'24. |
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| (2) In FY'24, we borrowed $740 million to fund the ServiceMax deferred acquisition payment and the pure-systems acquisition. Subsequently, we've made net payments of $694 million. |
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| (3) In FY'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. |
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PTC ANNOUNCES FOURTH FISCAL QUARTER AND FULL FISCAL YEAR 2024 RESULTS
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