Press release
PTC Announces Third fiscal Quarter 2022 Results
Strong Q3 performance; Raising FY'22 constant currency ARR and Cash Flow guidance BOSTON, July 27, 2022 /PRNewswire/ -- PTC (NASDAQ: PTC) today reported
About this update from Ptc Inc.
[{"type":"text","content":"Strong Q3 performance; Raising FY'22 constant currency ARR and Cash Flow guidance\nBOSTON, July 27, 2022 /PRNewswire/ -- PTC (NASDAQ: PTC) today reported financial results for its third fiscal quarter ended June 30, 2022. \n\n \n \n \n \n \n \n\n \n\"In our third fiscal quarter, we again delivered strong results. We reported ARR growth of 9% and 15% on an organic constant currency basis. In addition, our recently acquired Codebeamer business had an outstanding quarter and added an additional point of ARR growth, taking constant currency ARR growth to 16%. In Q3, our cash from operations was $117 million, up 33% year over year, and our adjusted free cash flow was $132 million, up 23% year over year. The strength in Q3 was broad-based across all segments and geographic regions, driven by demand for digital transformation and SaaS,\" said James Heppelmann, President and CEO, PTC.\n\"Our differentiated product portfolio and leading SaaS capabilities position PTC to drive superior value for customers. Given the high resiliency of our business due to our subscription model coupled with our strong market position, as well as the strong execution of our teams, we are raising our key guidance measures for fiscal 2022 for the third time this year,\" concluded Heppelmann.\nThird Quarter 2022 Highlights[1]\nKey operating and financial highlights are set forth below. For additional details, please refer to the Q3'22 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 $1,544 million at the end of Q3'22, up 9% compared to Q3'21, including $15 million related to the acquisition of Codebeamer. On a constant currency basis (including $16 million related to Codebeamer), ARR was $1,625 million, up 16%, compared to Q3'21. On an organic constant currency basis (excluding $16 million related to Codebeamer), ARR was $1,610 million, up 15% compared to Q3'21, and above guidance of $1,580 million to $1,595 million. Foreign exchange rate fluctuations had an $81 million negative impact on our Q3'22 reported ARR. ARR at the end of Q3'22 includes a $4 million reduction associated with discontinuing our business operati...