PTC said ARR at the end of Q2'24 was $2.09 billion, up 11% (12% in constant currency) from Q2'23, and revenue rose 11% to $603 million.

1. 01

   PTC said ARR at the end of Q2'24 was $2.09 billion, up 11% (12% in constant currency) from Q2'23, and revenue rose 11% to $603 million.

2. 02

   The company said cash provided by operating activities rose 19% to $251 million in Q2'24, and free cash flow rose 19% to $247 million. It cited higher collections and lower vendor disbursements, and said interest payments rose sharply due to higher debt tied to the ServiceMax acquisition.

3. 03

   PTC said its operating margin rose 720 basis points in Q2'24 compared with Q2'23. It attributed the increase to higher revenue, continued operating discipline and lower acquisition- and transaction-related costs.

4. 04

   PTC paid $620.0 million in the first six months of FY'24 to settle the ServiceMax deferred acquisition payment. To fund that payment and the pure-systems acquisition, it borrowed $739.8 million under its revolving line and repaid $435.7 million, for net borrowings of $304.1 million.

Key figures

Quarter ended March 31, 2024

Revenue

$603M

Operating income

$180M

Net income

$114M

EPS

$0.95

Gross profit

$493M

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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