PTC ANNOUNCES SECOND FISCAL QUARTER 2022 RESULTS

About PTC (NASDAQ: PTC)

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.com  @PTC  Blogs

PTC Investor Relations Contact 
Matt Shimao
SVP, Investor Relations 
Email Contact
investor@ptc.com

PTC Inc.


UNAUDITED CONSOLIDATED STATEMENTS OF INCOME


(in thousands, except per share data)



































Three Months Ended



Six Months Ended



March 31,



March 31,



March 31,



March 31,



2022



2021



2022



2021


















Revenue:
















     Recurring revenue

$

452,710



$

414,845



$

857,835



$

799,803


     Perpetual license


9,540




6,922




18,008




15,385


     Professional services


42,977




40,018




87,105




75,648


Total revenue (1)


505,227




461,785




962,948




890,836


















Cost of revenue (2)


93,337




89,448




188,455




176,278


















Gross margin


411,890




372,337




774,493




714,558


















Operating expenses:
















     Sales and marketing (2)


116,408




129,178




241,884




253,903


     Research and development (2)


81,935




72,545




162,469




143,380


     General and administrative (2)


47,469




60,805




99,409




110,333


     Amortization of acquired intangible assets


8,450




7,650




16,934




14,197


     Restructuring and other charges, net


(1,562)




469




32,429




716


Total operating expenses


252,700




270,647




553,125




522,529


















Operating income


159,190




101,690




221,368




192,029


     Other expense, net


(55,624)




(15,333)




(62,426)




(28,265)


Income before income taxes


103,566




86,357




158,942




163,764


     Provision (benefit) for income taxes


13,887




(22,905)




23,174




30,987


Net income

$

89,679



$

109,262



$

135,768



$

132,777


















Earnings per share:
















     Basic

$

0.77



$

0.94



$

1.16



$

1.14


          Weighted average shares outstanding


117,008




116,777




117,135




116,587


















     Diluted

$

0.76



$

0.92



$

1.15



$

1.13


          Weighted average shares outstanding


117,811




118,331




118,162




117,966


































(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.


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



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