PTC Inc. reported its financial results for the first quarter of fiscal year 2025, ending December 31, 2024, revealing a total revenue of $565.1 million, a 3% increase from $550.2 million in the same period last year. The growth was primarily driven by a 9% rise in support and cloud services revenue, which reached $361 million, while license revenue decreased by 6% to $172.8 million. The company's net income for the quarter was $82.2 million, translating to diluted earnings per share of $0.68, a 23% increase compared to $0.55 in the prior year.
In terms of operational metrics, PTC's Annual Run Rate (ARR) grew by 7% to $2.21 billion, with a notable 11% increase when adjusted for constant currency. The company reported a total of over 30,000 customers globally, supported by a workforce of more than 7,000 employees. The geographic breakdown of revenue showed that the Americas contributed $278 million, Europe $196 million, and Asia Pacific $91 million, indicating a stable international presence.
Strategically, PTC has been active in acquisitions, having completed the purchase of pure-systems GmbH for $93.5 million in October 2023. This acquisition is part of PTC's ongoing efforts to enhance its product offerings and market position. The company also reported a decrease in acquisition-related costs, which fell to $0.2 million from $2.5 million in the previous year. Additionally, PTC has been focusing on a go-to-market realignment, which has resulted in increased operating expenses, particularly in sales and marketing, which rose by 15% to $157.5 million.
The company’s balance sheet reflects a total asset value of $6.08 billion, down from $6.38 billion at the end of the previous quarter. Current liabilities decreased to $1.56 billion, while total liabilities stood at $2.85 billion. PTC's cash and cash equivalents were reported at $196.3 million, a decline from $265.8 million in the prior quarter, primarily due to cash used in financing activities, including $75 million for stock repurchases. Looking ahead, PTC anticipates continued growth in its subscription-based revenue model, which is expected to enhance customer engagement and retention, providing a stable foundation for future investments and strategic initiatives.
About PTC INC.
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.