First quarter FY’17 GAAP revenue was $286 million. They recorded a GAAP net loss of $9 million or $0.08 per share.
“Despite foreign currency headwinds, bookings of $90 million and subscription bookings mix of 65% demonstrate a continuation of the momentum we have been building over the past year,” said James Heppelmann, president and CEO, PTC. “In particular, we are very pleased with the first quarter results of our IoT business, which continued to capitalize on our technology and market leadership to deliver bookings well above our expectations. Continued improvements in focus and execution drove solid performance in our Solutions business, led by CAD bookings growth in the double-digits.”
Heppelmann added, “Note that there were significant changes in foreign currencies since we provided guidance in October 2016. Despite these currency headwinds, we are maintaining our FY’17 bookings guidance due to the Q1’17 over performance, and we are reducing revenue and EPS guidance by less than the estimated currency impact.”
Heppelmann continued, “We remain focused on creating significant long-term value for our customers and shareholders through our transition to a subscription business model. It is important to note that a higher subscription mix relative to guidance for the current quarter negatively impacts near-term reported revenue and earnings, as we will record a greater proportion of our revenue on a ratable basis.”
A complete chart of the financial results is available here.
PTC has the most robust Internet of Things technology in the world. In 1986 we revolutionized digital 3D design, and in 1998 were first to market with Internet-based PLM. Now our leading IoT and AR platform and field-proven solutions bring together the physical and digital worlds to reinvent the way you create, operate, and service products. With PTC, global manufacturers and an ecosystem of partners and developers can capitalize on the promise of the IoT today and drive the future of innovation.
For more information, visit www.ptc.com.