Press release
PTC ANNOUNCES FIRST FISCAL QUARTER 2023 RESULTS
Raising Cash Flow Guidance and Narrowing Constant Currency ARR Guidance Range for FY'23 BOSTON, Feb. 1, 2023 /PRNewswire/ -- PTC (NASDAQ: PTC) today reported
About this update from Ptc Inc.
[{"type":"text","content":"Raising Cash Flow Guidance and Narrowing Constant Currency ARR Guidance Range for FY'23\nBOSTON, Feb. 1, 2023 /PRNewswire/ -- PTC (NASDAQ: PTC) today reported financial results for its first fiscal quarter ended December 31, 2022.\n\n \n \n \n \n \n \n\n \n\"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 $172 million, up 28% year over year,\" said James Heppelmann, President and CEO, PTC.\n\"Our product portfolio, now increasingly differentiated with the acquisition of ServiceMax, and our industry-leading SaaS capabilities align well to the manufacturing industry's push for digital transformation. Despite uncertain macroeconomic conditions, the resiliency of our business due to our subscription model and our strong market position, coupled with solid execution and prudent financial management, position PTC for continued solid financial performance in fiscal 2023,\" concluded Heppelmann.\nFirst Quarter 2023 Highlights\nKey operating and financial highlights are set forth below. For additional details, please refer to the Q1'23 earnings presentation and financial data tables that have been posted to the Investor Relations section of our website at investor.ptc.com. The definitions of our operating and non-GAAP financial measures and reconciliations of non-GAAP financial measures to comparable GAAP measures are included below and in the reconciliation tables at the end of this press release.\n$ In millions\nQ1'23\nQ1'22\nYoY Change\nQ1'23 Guidance\nARR as reported\n$1,663\n$1,496\n11 %\nARR at constant currency\n$1,603\n$1,389\n15 %\n$1,580 - $1,600\nOrganic ARR as reported\n$1,645\n$1,496\n10 %\nOrganic ARR at constant currency\n$1,586\n$1,389\n14 %\nCash from operations\n$181\n$138\n31 %\n~$170\nFree cash flow\n$172\n$134\n28 %\n~$165\nRevenue1\n$466\n$458\n2 %\nOperating margin1\n23 %\n14 %\n900 bps\nNon-GAAP operating margin1\n36 %\n35 %\n100 bps\nEarnings per share1\n$0.63\n$0.392\n63 %\nNon-GAAP earnings per share1\n$0...