Stock in the Spotlight: PTC Inc. (NASDAQ:PTC)

Shares of PTC Inc. (NASDAQ:PTC) negotiated 770,100 shares against it an average volume of 974,798 shares. The stock concluded the recent trade at $93.70 with upbeat trend move of +0.29%. The company has total market value of 11.041B. The company has got a 52-week exceptional price of $100.79 and reached a 52-week lowest of the share price at $52.20. The stock price is moving down from its 20 days moving average with -2.11% and isolated negatively from 50 days moving average with -0.52%.

PTC (PTC) recently stated financial results for its fiscal third quarter ended June 30, 2018.

  • Third quarter total revenue was $315M
  • Third quarter GAAP net income was $17M or $0.14 per diluted share; non-GAAP net income was $42M or $0.36 per diluted share
  • Third quarter license and subscription bookings were $113M and subscription mix was 78%
  • Total deferred revenue, billed and unbilled, was $1.21B, an raise of 33% from the same period last year
  • Third quarter subscription Annualized Recurring Revenue (ARR) was $509M, an raise of $207M or 69% from the same period last year

“Our third quarter results continued the solid performance we have been driving across our product portfolio,” stated James Heppelmann, President and CEO, PTC. “Despite currency headwinds in the quarter, recurring software revenue grew 15% year over year, reflecting the strength of our subscription model, and new bookings were strong.”

Heppelmann added, “Through the first three quarters of the fiscal year, CAD bookings grew double-digits, far outpacing market growth, PLM bookings grew above-market, ThingWorx continued to gain important traction across a broad set of vertical markets, and interest in our augmented reality (AR) solutions accelerated.”

  • THIRD QUARTER’18 license and subscription bookings were $113M, up 26% year over year. On a year-to-date basis, bookings were $316M, up 15% year over year.
  • THIRD QUARTER’18 software revenue was $274M, an raise of 10% year over year, despite a 1,400 basis point raise in the subscription mix contrast to the same period last year.
  • About 91% of third quarter software revenue came from recurring revenue streams, up from 87% in the same period last year.
  • Annualized Recurring Revenue (ARR) was $994M, an raise of 15% year over year and the sixth consecutive quarter of double-digit year-over-year growth.
  • Total deferred revenue – billed and unbilled – raised $301M or 33% year-over-year. Billed deferred revenue raised 4% year-over year to $484M, despite THIRD QUARTER this year not including July 1st, whereas July 1stfell in THIRD QUARTER in FY’17. Recurring billings on July 1, 2018 were about $39M. Billed deferred revenue can fluctuate quarterly based upon the contractual billing dates in our recurring revenue contracts, the timing of our fiscal reporting periods, and Fx rates.
  • GAAP operating margin in the third quarter was 7%, contrast to 4% in the same period last year; non-GAAP operating margin was 18%, contrast to 15% in the same period last year.
  • Operating cash flow in the third quarter was $49M and free cash flow was $42M. Year-to-date free cash flow was $167M, up 100% contrast to the same period last year. Free cash flow includes cash payments of about $1M for the quarter and $2M year-to-date related to our past restructuring plans, contrast to $6M in THIRD QUARTER’17 and $35M for the first three quarters of FY’17.
  • Total cash, cash equivalents, and marketable securities as of the end of the third quarter was $321M and total debt, net of deferred issuance costs, was $693M. During the quarter, we borrowed $150M in part to finance the share repurchase described below, $100M of which was repaid previous to quarter end.
  • As part of our before reported share repurchase program, we completed a $100M accelerated stock repurchase contract during the quarter and stepped down 1.15M shares in the quarter.

PTC Inc.’s has price-to-cash ratio of 37.42 and price to sale ratio of 8.75. The company net profit margin is 4.60% and gross profit margin is 73.20%. A look on the firm performance, its monthly performance is -3.45% and a quarterly performance of 6.94%.

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Gary Williams

Written by Gary Williams

Gary Williams:- Technology

I am Gary Williams and I’m passionate about business and finance news with over 9 years in the industry starting as a writer working my way up into senior positions. I am the driving force behind with a vision to broaden the company’s readership throughout 2015. I am an editor and reporter of “Technology” category.

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