Press release
PTC ANNOUNCES FOURTH FISCAL QUARTER AND FULL YEAR 2022 RESULTS
Strong Performance in Fourth Fiscal Quarter and Full Year BOSTON, Nov. 2, 2022 /PRNewswire/ -- PTC (NASDAQ: PTC) today reported financial results for its
About this update from Ptc Inc.
[{"type":"text","content":"Strong Performance in Fourth Fiscal Quarter and Full Year\nBOSTON, Nov. 2, 2022 /PRNewswire/ -- PTC (NASDAQ: PTC) today reported financial results for its fourth fiscal quarter and full year ended September 30, 2022. \n\n \n \n \n \n \n \n\n \n\"In our fourth fiscal quarter, we again delivered strong results. We reported ARR growth of 7%, organic ARR growth of 6%, and organic constant currency growth of 15%. The Codebeamer business, which we acquired in the third quarter, continued to perform well and added an additional point of ARR growth, taking constant currency ARR growth to 16% for the 4th quarter and full year. In fiscal 2022, our cash from operations was $435 million, up 18% year over year, and our free cash flow was $416 million, up 21% year over year. While currency headwinds have impacted our ARR, our solid execution, the timing of our collections, and prudent cost controls have mitigated the impact on cash flow,\" said James Heppelmann, President and CEO, PTC.\n\"Our differentiated product portfolio and industry-leading SaaS capabilities align well to the manufacturing industry's push for digital transformation. Despite challenging economic conditions, the strong resiliency of our business due to our subscription model and our strong market position, coupled with strong execution, has allowed PTC to surpass all of our key guidance measures throughout fiscal 2022. We are positioned for continued solid performance in fiscal 2023,\" concluded Heppelmann.\nFourth Quarter 2022 and Full Year Highlights[1]\nKey operating and financial highlights are set forth below. For additional details, please refer to the Q4'22 earnings presentation and financial data tables that have been posted to the Investor Relations section of our website at investor.ptc.com. Revenue and, as a result, operating margin, operating profit, and earnings per share are impacted by revenue recognition under ASC 606.\nARR as reported was $1,572 million at the end of Q4'22, up 7% compared to $1,468 million in Q4'21. On a constant currency basis, Q4'22 ARR was $1,706 million, up 16%, compared to $1,468 million in Q4'21, and exceeded guidance. On an organic basis (excluding Codebeamer, which was acquired in Q3'22), Q4'22 ARR was $1,556 million, up 6% compared to $1,468 million in Q4'21. On an organic constant currency basis, Q4'22 ARR was $1,688 million, up ...