PTC Announces Fiscal First Quarter 2021 Results

About PTC (NASDAQ: PTC)
PTC unleashes industrial innovation with award-winning, market-proven solutions that enable companies to differentiate their products and services, improve operational excellence, and increase workforce productivity. With PTC and its partner ecosystem manufacturers can capitalize on the promise of today's new technology to drive digital transformation.

PTC.com            @PTC            Blogs

PTC Investor Relations Contacts  
Tim Fox
tifox@ptc.com 

Emily Walt
ewalt@ptc.com

PTC Inc.


UNAUDITED CONSOLIDATED STATEMENTS OF INCOME


(in thousands, except per share data)



















Three Months Ended



December 31,



December 28,



2020



2019










Revenue:








Recurring revenue

$

384,957



$

305,368


Perpetual license


8,463




8,998


Professional services


35,630




41,744


Total revenue (1)


429,050




356,110










Cost of revenue (2)


86,830




87,405










Gross margin


342,220




268,705










Operating expenses:








Sales and marketing (2)


124,725




107,604


Research and development (2)


70,835




65,308


General and administrative (2)


49,528




44,557


Amortization of acquired intangible assets


6,547




6,777


Restructuring and other charges, net


247




14,034


Total operating expenses


251,882




238,280










Operating income


90,338




30,425


Other expense, net


(12,931)




(11,394)


Income before income taxes


77,407




19,031


Provision (benefit) for income taxes


53,892




(16,424)


Net income

$

23,515



$

35,455










Earnings per share:








Basic

$

0.20



$

0.31


Weighted average shares outstanding


116,401




115,190










Diluted

$

0.20



$

0.31


Weighted average shares outstanding


117,605




115,691


















(1) See supplemental financial data for revenue by license, support, and professional services.


(2) See supplemental financial data for additional information about stock-based compensation.



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