Revenue Growth - ARR increased by 14% to $2,254.7 million in FY'24 compared to $1,978.6 million in FY'23[126] - Total recurring revenue grew by 12% to $2,134.0 million in FY'24[126] - PLM software revenue grew by 12% to $1,333.4 million in FY'24, driven by growth in Europe and the contribution from ServiceMax[134] - CAD software revenue increased by 9% to $832.8 million in FY'24, primarily driven by growth in Europe and Asia Pacific[134] Operating Performance - Operating income increased by 28% to $588.1 million in FY'24[126] - Non-GAAP operating income for FY'24 is $894.3 million, compared to $758.9 million in FY'23[181] - Non-GAAP operating margin for FY'24 is 38.9%, compared to 36.2% in FY'23[182] - Income before income taxes increased by 41% to $469.0 million in FY'24 compared to $332.6 million in FY'23[145] - Effective income tax rate decreased to 20% in FY'24 from 26% in FY'23, impacted by a $14.4 million tax benefit[145] Cash Flow and Liquidity - Free cash flow increased to $735.6 million in FY'24 from $587.0 million in FY'23[126] - Net cash provided by operating activities increased by $139.1 million to $750.0 million in FY'24[147] - Cash used in investing activities decreased to $124.8 million in FY'24, driven by the acquisition of pure-systems for $93.5 million[151] - Cash and cash equivalents decreased to $265.8 million in FY'24 from $288.1 million in FY'23[147] Expenses and Compensation - Operating expenses increased by 6% to $1,265.6 million in FY'24, driven by higher compensation and benefits expense[142] - Stock-based compensation expense for FY'24 is $223.5 million, compared to $206.5 million in FY'23[181] - Amortization of acquired intangible assets for FY'24 is $80.5 million, up from $75.7 million in FY'23[181] Debt and Interest - Total debt increased to $1,752.6 million in FY'24 from $1,702.0 million in FY'23[153] - Interest expense decreased by 8% to $119.7 million in FY'24, due to lower aggregate average of debt and deferred acquisition payment liability balances[143] - The company had $753 million outstanding under its credit facility as of September 30, 2024, with a weighted average annual interest rate of 6.9%[218] - A 100 basis point per annum change in interest rate would have an $8 million impact on annual earnings and cash flows based on the borrowings outstanding as of September 30, 2024[218] Foreign Currency and Hedging - Approximately 50% of the company's revenue and 35% of its expenses were transacted in currencies other than the U.S. Dollar, with significant exposure to the Euro and Japanese Yen[212] - A $0.10 change in the USD to EUR exchange rate and a 10 Yen change in the Yen to USD exchange rate would impact operating income by approximately $38 million and $6 million, respectively[212] - The company's foreign currency hedging program primarily uses forward contracts denominated in the Euro, Swiss Franc, and Swedish Krona, with maturities of less than four months[214] - The total value of currency hedged as of September 2024 was $1,058,478 thousand, with the Euro/U.S. Dollar accounting for $781,398 thousand of the total[217] - Changes in foreign currencies relative to the U.S. Dollar had a favorable impact of $3.2 million on the company's consolidated cash balances in FY'24, driven by changes in the Brazilian Real, Swedish Krona, Chinese Renminbi, and New Taiwan Dollar[220] Tax and Valuation Allowances - Unrecognized tax benefits as of September 30, 2024, are $65.0 million[195] - Valuation allowance against net deferred tax assets in the U.S. is $17.4 million as of September 30, 2024[196] - Valuation allowance against net deferred tax assets in certain foreign jurisdictions is $4.4 million as of September 30, 2024[197] Stock Repurchase and Obligations - The company plans to repurchase approximately $300 million of common stock in FY'25[157] - Purchase obligations as of September 30, 2024, were $163.2 million, with $88.2 million expected to be paid in FY'25[161] Non-GAAP Financials - Non-GAAP net income for FY'24 is $613.4 million, up from $517.6 million in FY'23[181] - Non-GAAP diluted earnings per share for FY'24 is $5.08, compared to $4.34 in FY'23[181] Internal Controls and Audits - The company's internal control over financial reporting was assessed as effective as of September 30, 2024, based on COSO criteria[226] - The effectiveness of the company's internal control over financial reporting as of September 30, 2024, was audited by PricewaterhouseCoopers LLP[227] Geographic Cash Holdings - The company held $36 million in cash and cash equivalents in the United States, $127 million in Europe, $86 million in Asia Pacific (including India), and $17 million in other non-U.S. countries as of September 30, 2024[219] Professional Services - Professional services revenue decreased by 12% to $132.2 million in FY'24 as the company leveraged partners for service delivery[132] Other Income and Expenses - Interest income decreased by 19% to $4.4 million in FY'24 compared to $5.4 million in FY'23[144] - Other income, net decreased by 84% to $0.6 million in FY'24 due to a $2.0 million impairment loss[144] Intangible Assets - The company's identifiable intangible assets acquired include purchased software, trademarks, customer lists, and contracts, valued using discounted cash flow models[201] Headcount - Total headcount increased by 4% between September 30, 2023 and September 30, 2024[141]

- First-ever FDA approval for gene therapy directly administered to the brain -- Priority review voucher granted -- Broad label including children and adults -- PTC pioneers new approach for CNS drug delivery -WARREN, N.J., Nov. 13, 2024 /PRNewswire/ -- PTC Therapeutics, Inc. (NASDAQ: PTCT) announced today the U.S. Food and Drug Administration (FDA) accelerated approval of its gene therapy for the treatment of AADC deficiency, the first-ever gene therapy approved in the United States that is directly admini ...

– Strong revenue performance, supporting increase in full-year revenue guidance to $750-800 million – – Regulatory filings for sepiapterin, Translarna™ and AADC gene therapy under review by FDA –– On track to achieve remaining 2024 clinical and regulatory milestones, including NDA submission for vatiquinone –WARREN, N.J., Nov. 7, 2024 /PRNewswire/ -- PTC Therapeutics, Inc., (NASDAQ: PTCT) today announced a corporate update and financial results for the third quarter ending September 30, 2024. "I am proud of ...

PTC Inc (PTC) reported fourth-quarter fiscal 2024 non-GAAP earnings per share (EPS) of $1.54, up 28% year over year. The figure beat the Zacks Consensus Estimate by 7.7%.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Quarterly revenues soared 15% year over year to $627 million. The Zacks Consensus Estimate for revenues was pegged at $620.5 million. The top line neared the high end of PTC’s guidance, driven by continued demand for its product lifecycle management (PLM) and computer- ...

Financial Data and Key Metrics Changes - In fiscal 2024, free cash flow grew by 25% year-over-year, reaching $736 million [8][34] - Constant currency ARR increased by 12% year-over-year, totaling $2.207 billion at the end of Q4 [8][33] - Operating efficiency improved by 370 basis points to 42% compared to 38% in fiscal 2023 [34] Business Line Data and Key Metrics Changes - In Q4, constant currency ARR growth was 10% in CAD and 13% in PLM, indicating strong performance in these segments [41] - The company reported solid results in areas like APAC and its reseller channel, while Western Europe showed relative weakness [9][41] Market Data and Key Metrics Changes - Organic constant currency ARR growth was solid across the Americas, Europe, and APAC, with growth rates in the low to mid-double digits [42] - The automotive sector in Western Europe is under pressure, affecting deal sizes and timelines, but there is a push for digital transformation [89][90] Company Strategy and Development Direction - The company is focusing on five key areas: PLM (Windchill), ALM (Codebeamer), SLM (ServiceMax), CAD (Creo), and SaaS [11][12] - A new Chief Revenue Officer will be hired to enhance focus and accountability in a vertically oriented go-to-market model [19][21] - The go-to-market structure is being realigned around key verticals to improve specialization and effectiveness [20][22] Management's Comments on Operating Environment and Future Outlook - Management acknowledges macroeconomic headwinds and geopolitical uncertainty but remains confident in the long-term trajectory due to a shift in key verticals [9][10] - There is a strong demand for digital transformation among customers, which the company's offerings are well-positioned to address [12][15] Other Important Information - A $2 billion share repurchase authorization was announced, reflecting confidence in the business and commitment to enhancing shareholder value [10][45] - The company expects free cash flow to grow faster than ARR over the medium term, with operating expenses growing at roughly half the rate of ARR [34][35] Q&A Session Summary Question: Go-to-market disruption and growth rates - Management is not expecting significant disruption from the go-to-market changes and has mechanisms in place to minimize any potential impact [78][79] Question: Market performance and product focus - Strong performance is expected in PLM and CAD, with a focus on expanding Windchill and Codebeamer in key verticals [82][84] Question: Demand in Western Europe - There is pressure in the automotive sector, but this is driving urgency for digital transformation, which could benefit the company [88][90] Question: Timing of go-to-market changes and potential demand recovery - The company is prepared for potential demand increases and is aligning its operations to capitalize on opportunities as they arise [92][94] Question: Performance across other verticals - The federal, aerospace, and defense sectors are experiencing significant demand, while med tech and life sciences are also seeing a need for faster product development [99][100]

PTC Inc. (PTC) reported $626.55 million in revenue for the quarter ended September 2024, representing a yearover-year increase of 14.6%. EPS of $1.54 for the same period compares to $1.20 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $620.49 million, representing a surprise of +0.98%. The company delivered an EPS surprise of +7.69%, with the consensus EPS estimate being $1.43. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- a ...

Q4'24 AND FY'24 FINANCIAL RESULTS Neil Barua CEO Kristian Talvitie CFO November 6, 2024 FORWARD LOOKING STATEMENTS 2 This presentation includes forward looking statements regarding PTC's future financial performance, strategic outlook and expectations, anticipated future operations, expected effects of strategic investments and initiatives, and share repurchase expectations. Because such statements deal with future events, actual results may differ materially from those projected in the forward-looking stat ...

PTC Inc. (PTC) came out with quarterly earnings of $1.54 per share, beating the Zacks Consensus Estimate of $1.43 per share. This compares to earnings of $1.20 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 7.69%. A quarter ago, it was expected that this product development software maker would post earnings of $0.98 per share when it actually produced earnings of $0.98, delivering no surprise.Over the last four quarters, the ...

Solid ARR and Cash Flow in Fourth Fiscal Quarter and Full Fiscal YearBOSTON, Nov. 6, 2024 /PRNewswire/ -- PTC (NASDAQ: PTC) today reported financial results for its fourth fiscal quarter and full fiscal year ended September 30, 2024."In fiscal year 2024, we again delivered solid ARR and cash flow, with year-over-year ARR growth in the low double-digits and cash flow growth above 20%. We have a differentiated strategy that leverages our unique portfolio to help product companies accelerate their time to mark ...

BOSTON, Nov. 6, 2024 /PRNewswire/ -- PTC (NASDAQ: PTC) today announced that its Board of Directors has authorized the repurchase of up to $2 billion worth of PTC common stock through September 30, 2027."This repurchase authorization demonstrates the Board's confidence in PTC's ability to drive customer value while enhancing shareholder returns, and supports PTC's capital allocation strategy," said Janice Chaffin, Chair of the Board."PTC intends to repurchase approximately $300 million of our common stock in ...