Press release
PTC Announces Fiscal Fourth Quarter And Fiscal 2020 Results
BOSTON, Oct. 28, 2020 /PRNewswire/ -- PTC (NASDAQ: PTC) today reported financial results for its fiscal fourth quarter and fiscal year ended September 30,
About this update from Ptc Inc.
[{"type":"text","content":"BOSTON, Oct. 28, 2020 /PRNewswire/ -- PTC (NASDAQ: PTC) today reported financial results for its fiscal fourth quarter and fiscal year ended September 30, 2020. \n\n \n \n \n \n \n \n\n \n\"Continued solid execution by our global team overcame challenges related to the ongoing pandemic, leading to strong bookings in our fourth quarter. The pandemic has helped customers recognize the value PTC can unlock through our digital transformation solutions – from enabling global team collaboration across the product development process, to remote asset management, to remote support and front-line worker training, to the growing importance of SaaS-based technologies,\" said James Heppelmann, President and CEO, PTC.\n\"We believe that our fourth quarter performance and robust pipeline points to a promising start to our fiscal 2021, despite ongoing macro uncertainty. While consensus around the timing and shape of a broader economic recovery remains uncertain, it is clear that PTC is very well positioned to continue to drive new innovations across our product portfolio, enable significant customer value in the new normal, and deliver strong sustainable growth,\" concluded Heppelmann.\nFourth quarter and fiscal year 2020 highlights1\nKey operating and financial highlights are set forth below. For additional details, please refer to the prepared remarks and financial data tables that have been posted to the Investor Relations section of our website at investor.ptc.com.\nARR was $1.27 billion. Year-over-year growth of 14%, or 11% in constant currency, reflects solid performance in our Core and Growth businesses, in our global channel, and, as expected, contribution from our Rockwell Automation Strategic Alliance. Revenue was $391 million in Q4'20 and $1,458 million in FY'20. Q4'20 growth of 17% compared to Q4'19, and FY'20 growth of 16% compared to FY'19, was driven by strength across our Core and Growth businesses, as well as the impact of ASC 606 and related business policy changes. Cash flow from operations was $34 million in Q4'20, compared to $55 million in Q4'19, partly reflecting the impact of interest payments in Q4'20. For FY'20, cash flow from operations was $234 million, compared to $285 million in FY'19. Free cash flow was $29 million in Q4'20, compared to $50 million in Q4'19. For FY'20, free cash flow was $214 million, compared to...