Ptc Inc Stock Price, News & Analysis

PTC (NASDAQ: PTC) has appointed Rob Bernshteyn to its Board of Directors, effective September 9, 2024. Bernshteyn, a veteran with over 30 years of experience in enterprise software, notably served as CEO and Chairman of Coupa Software for 14 years. During his tenure, he led Coupa's transformation into a high-growth industry leader and its successful IPO in 2016. Currently a General Partner at ICONIQ Growth, Bernshteyn brings valuable expertise in executive management, product development, and go-to-market strategies.

PTC's CEO, Neil Barua, expressed confidence in Bernshteyn's ability to contribute to the company's growth and customer delivery. Bernshteyn, who holds an MBA from Harvard Business School, will serve on PTC's Board's Compensation & People Committee.

PTC (Nasdaq: PTC) has announced its participation in four upcoming investor conferences in 2024. These include:

• Citi's 2024 Global TMT Conference on September 4th at 8:20am ET
• 2024 RBCCM Global TIMT Conference on November 19th
• Barclays 22nd Annual Global Technology Conference on December 11th
• Nasdaq 51st Investor Conference on December 11th

Webcasts and replays of these conferences will be available on PTC's investor relations website. The company notes that statements made during these conferences are accurate as of the event date, and PTC is not obligated to update any live statements or archived calls. Discussions may include forward-looking statements.

PTC reported solid Q3 2024 results with 10% year-over-year ARR growth to $2.126 billion and 29% free cash flow growth to $212 million. Revenue declined 4% to $519 million, while non-GAAP EPS was $0.98, down 1% year-over-year. For FY2024, PTC updated guidance to 11-12% constant currency ARR growth and maintained free cash flow guidance of ~$725 million.

Key highlights:

• Q3 constant currency ARR grew 12% year-over-year
• Operating cash flow increased 26% to $214 million
• Non-GAAP operating margin was 32%, down ~240 bps
• Gross debt reduced 23% year-over-year to $1.816 billion

PTC cited its differentiated product portfolio and subscription business model as drivers of growth despite a challenging selling environment. The company is focusing investments on five key areas to drive future expansion.

PTC (Nasdaq: PTC) has announced that it will release its fiscal 2024 third-quarter results on Wednesday, July 31st, 2024, after the close of the stock market.

Following the release, senior management will host a live webcast and conference call at 5:00 PM Eastern Time to discuss the results.

Investors can access the earnings press release, presentation, and financial data tables on the Investor Relations section of PTC's website.

A replay of the webcast will also be available for those who are unable to attend the live event.

SyBridge Technologies has launched SyBridge Studio, a cutting-edge manufacturing insights app, on the PTC Onshape App Store as of June 10, 2024. This tool integrates SyBridge's extensive expertise in injection mold tooling and production-grade additive manufacturing. Leveraging advanced AI algorithms, the app offers automated Design for Manufacturability (DFM) checks, injection mold action identification, and part thickness analysis. The app aims to help engineers and designers optimize designs, validate manufacturability, and shorten time to market. Future enhancements will include cost insights, material recommendations, and on-demand part purchasing.

PTC announced solid results for Q2 of Fiscal 2024, reflecting ARR growth, cash flow stability, and earnings per share increase. The company updated mid-term targets with low double-digit ARR growth. Operating cash flow, free cash flow, and revenue showed significant improvement year over year. Despite a decline in gross debt, revenue and EPS performed well, demonstrating a positive outlook. The company's focus on expanding operating efficiency and delivering value to customers is evident in the financial results.