PTC Inc. |
| ||||||||||||||
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS |
| ||||||||||||||
(in thousands) |
| ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
| Three Months Ended |
|
| Nine Months Ended |
| ||||||||||
|
| June 30, |
|
| June 30, |
|
| June 30, |
|
| June 30, |
| ||||
|
| 2024 |
|
| 2023 |
|
| 2024 |
|
| 2023 |
| ||||
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
Cash flows from operating activities: |
|
|
|
|
|
|
|
|
|
|
| ||||
Net income | $ | 68,978 |
|
| $ | 61,398 |
|
| $ | 249,810 |
|
| $ | 199,937 |
|
Stock-based compensation |
| 48,038 |
|
|
| 53,818 |
|
|
| 161,242 |
|
|
| 147,568 |
|
Depreciation and amortization |
| 27,128 |
|
|
| 27,906 |
|
|
| 81,272 |
|
|
| 76,943 |
|
Amortization of right-of-use lease assets |
| 7,684 |
|
|
| 8,141 |
|
|
| 23,143 |
|
|
| 24,705 |
|
| Operating lease liability |
| (3,145) |
|
|
| (6,345) |
|
|
| (13,438) |
|
|
| (1,360) |
|
| Accounts receivable |
| 23,915 |
|
|
| 13,043 |
|
|
| 131,422 |
|
|
| 99,521 |
|
| Accounts payable and accruals |
| 64,831 |
|
|
| 18,726 |
|
|
| 35 |
|
|
| 11,368 |
|
| Deferred revenue |
| (32,578) |
|
|
| (17,396) |
|
|
| 8,393 |
|
|
| 18,696 |
|
| Income taxes |
| (19,882) |
|
|
| 2,259 |
|
|
| (1,795) |
|
|
| (9,910) |
|
| Other |
| 28,830 |
|
|
| 7,673 |
|
|
| 11,786 |
|
|
| (6,376) |
|
| Net cash provided by operating activities |
| 213,799 |
|
|
| 169,223 |
|
|
| 651,870 |
|
|
| 561,092 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
| Capital expenditures |
| (1,639) |
|
|
| (5,085) |
|
|
| (9,841) |
|
|
| (18,035) |
|
| Acquisition of businesses, net of cash acquired (1) |
| - |
|
|
| - |
|
|
| (93,457) |
|
|
| (828,271) |
|
| Borrowings (payments) on debt, net (2) |
| (195,125) |
|
|
| (180,000) |
|
|
| 109,049 |
|
|
| 386,000 |
|
| Deferred acquisition payment (3) |
| - |
|
|
| - |
|
|
| (620,040) |
|
|
| - |
|
| Net proceeds associated with issuance of common stock |
| - |
|
|
| - |
|
|
| 12,709 |
|
|
| 10,592 |
|
| Payments of withholding taxes in connection with vesting of stock-
|
| (21,405) |
|
|
| (19,467) |
|
|
| (92,589) |
|
|
| (75,489) |
|
| Settlement of net investment hedges |
| 6,050 |
|
|
| (1,660) |
|
|
| 3,826 |
|
|
| (14,204) |
|
| Net proceeds from sale (purchases) of investments |
| - |
|
|
| 349 |
|
|
| - |
|
|
| (5,474) |
|
| Credit facility origination costs |
| - |
|
|
| - |
|
|
| - |
|
|
| (13,355) |
|
| Other financing & investing activities |
| - |
|
|
| - |
|
|
| - |
|
|
| (371) |
|
| Foreign exchange impact on cash |
| (2,832) |
|
|
| (2,346) |
|
|
| (2,003) |
|
|
| 6,835 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
| Net change in cash, cash equivalents, and restricted cash |
| (1,152) |
|
|
| (38,986) |
|
|
| (40,476) |
|
|
| 9,320 |
|
| Cash, cash equivalents, and restricted cash, beginning of period |
| 249,474 |
|
|
| 321,194 |
|
|
| 288,798 |
|
|
| 272,888 |
|
| Cash, cash equivalents, and restricted cash, end of period | $ | 248,322 |
|
| $ | 282,208 |
|
| $ | 248,322 |
|
| $ | 282,208 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
| Supplemental cash flow information: |
|
|
|
|
|
|
|
|
|
|
| ||||
| Cash paid for interest (3) | $ | 18,375 |
|
| $ | 22,576 |
|
| $ | 112,394 |
|
| $ | 51,946 |
|
|
|
| ||||||||||||||
| (1) In Q1'24, we acquired pure-systems for $93 million, net of cash acquired. In Q2'23, we acquired ServiceMax Inc. for $1,448 million, net of cash acquired. We paid $828 million in Q2'23 and the remaining $620 million in Q1'24. |
| ||||||||||||||
| (2) In Q1'24, we borrowed $740 million to fund the ServiceMax deferred acquisition payment and the pure-systems acquisition. Subsequently, we've made net payments of $631 million. |
| ||||||||||||||
| (3) In Q1'24, 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. |
| ||||||||||||||
