PTC Q1 Revenue Down 8% to $466M with $75M Profit

BOSTON, MA, Feb 2, 2023 – PTC reported financial results for its first fiscal quarter ended December 31, 2022. This quarter’s revenue stood at $465.9M, compared to $507.9M of fourth quarter of fiscal 2022, with a profit of $75M.

Comparative analysis based on PTC’s financial results in the last 12 quarters (Result source PTC website)

Comparative analysis based on PTC’s financial results in the last 12 quarters (Result source PTC website)

“In our first fiscal quarter, we again delivered strong ARR and cash flow results that exceeded our guidance ranges. We reported ARR growth of 11%, organic ARR growth of 10%, and organic constant currency ARR growth of 14%. The Codebeamer business, which we acquired in Q3’22, added an additional point of ARR growth, taking constant currency ARR growth to 15%. In Q1, our cash from operations was $181 million, up 31% year over year, and our free cash flow was $172 million, up 28% year over year,” said James Heppelmann, president and CEO, PTC.

“Our product portfolio, now increasingly differentiated with the acquisition of ServiceMax, and our industry-leading SaaS capabilities align well to the manufacturing industry’s push for digital transformation. Despite uncertain macroeconomic conditions, the resiliency of our business due to our subscription model and our strong market position, coupled with solid execution and prudent financial management, position PTC for continued solid financial performance in fiscal 2023,” concluded Heppelmann.

A complete chart of the financial results is available here.

About 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.

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