BOSTON, MA, May 2, 2024 – PTC reported financial results for its second fiscal quarter ended March 31, 2024. This quarter’s revenue stood at $603.07M, up 19.2% compared to $506.6M of first fiscal quarter of 2024, with a profit of $114.4M.

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)

“Our ARR and free cash flow results in Q2’24 were solid in a challenging selling environment, driven by the resilience of our subscription business model, consistent execution, operational discipline, and the actions we have taken over time to align our investments with market opportunities. We continue to rapidly de-lever, and our debt to EBITDA ratio was 2.3x at the end of Q2’24,” said Kristian Talvitie, CFO.

“Reflecting our year-to-date performance and our outlook for the second half, we are narrowing the range of our FY’24 constant currency ARR guidance and maintaining our FY’24 free cash flow guidance. For Q3, the ARR guidance range is 11 to 12 percent growth, with free cash flow of approximately $220 million. It’s worth noting that we are updating our FY’24 revenue and EPS guidance consistent with our updated ARR guidance range and also due to the impact of FX. We believe we have set our Q3’24 and FY’24 guidance appropriately,” concluded Talvitie.

A complete chart of the financial results is available here.

About PTC

PTC is a global software company that enables industrial and manufacturing companies to digitally transform how they engineer, manufacture, and service the physical products that the world relies on. Headquartered in Boston, MA, PTC employs over 7,000 people and supports more than 25,000 customers globally.

For more information, please visit www.ptc.com.