PTC Inc. | |||
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS | |||
(in thousands) | |||
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| December 31, |
| September 30, |
|
| 2021 |
| 2021 |
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ASSETS |
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Cash and cash equivalents | $ 296,125 |
| $ 326,532 |
Accounts receivable, net | 478,673 |
| 541,072 |
Property and equipment, net | 96,848 |
| 100,237 |
Goodwill and acquired intangible assets, net | 2,553,757 |
| 2,570,854 |
Lease assets, net | 150,261 |
| 152,337 |
Other assets | 844,956 |
| 816,528 |
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Total assets | $ 4,420,620 |
| $ 4,507,560 |
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LIABILITIES AND STOCKHOLDERS' EQUITY |
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Deferred revenue | $ 481,070 |
| $ 497,677 |
Debt, net of deferred issuance costs | 1,440,014 |
| 1,439,471 |
Lease obligations | 206,032 |
| 208,799 |
Other liabilities | 339,692 |
| 323,145 |
Stockholders' equity | 1,953,812 |
| 2,038,468 |
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Total liabilities and stockholders' equity | $ 4,420,620 |
| $ 4,507,560 |
PTC Inc. | |||||
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||
(in thousands) | |||||
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| Three Months Ended | ||
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| December 31, |
| December 31, |
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| 2021 |
| 2020 |
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Cash flows from operating activities: |
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| ||
| Net income | $ 46,089 |
| $ 23,515 | ||
| Stock-based compensation | 45,942 |
| 46,088 | ||
| Depreciation and amortization | 22,088 |
| 18,835 | ||
| Amortization of right-of-use lease assets | 8,860 |
| 9,391 | ||
| Accounts receivable | 57,316 |
| 10,315 | ||
| Accounts payable and accruals | 15,812 |
| 3,129 | ||
| Deferred revenue | (13,696) |
| (851) | ||
| Income taxes | (8,328) |
| 44,537 | ||
| Other | (36,347) |
| (41,197) | ||
| Net cash provided by operating activities | 137,736 |
| 113,762 | ||
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| ||
| Capital expenditures | (3,362) |
| (2,857) | ||
| Purchase of intangible assets | (450) |
| (550) | ||
| Borrowings (payments) on debt, net | - |
| (18,000) | ||
| Repurchases of common stock | (119,739) |
| - | ||
| Payments of withholding taxes in connection with vesting of stock-based awards | (49,165) |
| (24,500) | ||
| Settlement of net investment hedges | 6,473 |
| (7,359) | ||
| Net proceeds from (purchases of) marketable securities (1) | - |
| 58,469 | ||
| Other financing & investing activities | (239) |
| (1,279) | ||
| Foreign exchange impact on cash | (1,661) |
| 5,553 | ||
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| Net change in cash, cash equivalents, and restricted cash | (30,407) |
| 123,239 | ||
| Cash, cash equivalents, and restricted cash, beginning of period | 327,046 |
| 275,960 | ||
| Cash, cash equivalents, and restricted cash, end of period | $ 296,639 |
| $ 399,199 | ||
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| Three Months Ended | ||||
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| December 31, |
| December 31, | ||
|
| 2021 |
| 2020 | ||
| Cash provided by operating activities | $ 137,736 |
| $ 113,762 | ||
| Capital expenditures | (3,362) |
| (2,857) | ||
| Free cash flow | 134,374 |
| 110,905 | ||
| Restructuring and other related payments | 10,511 |
| 7,267 | ||
| Acquisition-related payments | - |
| 2,880 | ||
| Adjusted free cash flow | $ 144,885 |
| $ 121,052 | ||
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| (1) In the first quarter of 2021, we sold all of our available-for-sale securities. | |||||
