PTC Q1 2023 Earnings Report
Key Takeaways
PTC reported strong ARR and cash flow results for Q1 2023, exceeding guidance ranges. ARR grew by 11%, with organic constant currency ARR growth at 14%. Free cash flow increased by 28% year-over-year. The company is raising its cash flow guidance and narrowing its constant currency ARR guidance range for fiscal year 2023.
ARR growth of 11% and organic constant currency ARR growth of 14% were reported.
Cash from operations was $181 million, a 31% increase year-over-year.
Free cash flow reached $172 million, up 28% year-over-year.
Fiscal year 2023 cash flow guidance was raised, and constant currency ARR guidance range was narrowed.
PTC
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PTC Revenue by Segment
Forward Guidance
PTC raised its cash flow guidance and narrowed the ARR guidance range for FY'23, including the ServiceMax acquisition.
Positive Outlook
- ARR at Constant Currency: $1,910 - $1,960 million
- Cash from Operations: ~$595 million
- Free Cash Flow: ~$575 million
- Revenue: $2,070 - $2,150 million