PTC Announces Fiscal Third Quarter 2021 Results

PTC Investor Relations Contact              

Emily Walt
Senior Director, Investor Relations
ewalt@ptc.com

PTC Inc.


UNAUDITED CONSOLIDATED STATEMENTS OF INCOME


(in thousands, except per share data)









































Three Months Ended



Nine Months Ended





June 30,



June 27,



June 30,



June 27,





2021



2020



2021



2020




















Revenue:
















Recurring revenue

$

387,175



$

310,621



$

1,186,978



$

931,852


Perpetual license


7,259




6,773




22,644




23,988


Professional services


41,234




34,327




116,882




111,594


Total revenue (1)


435,668




351,721




1,326,504




1,067,434




















Cost of revenue (2)


95,077




79,224




271,355




249,656




















Gross margin


340,591




272,497




1,055,149




817,778




















Operating expenses:
















Sales and marketing (2)


134,412




104,594




388,315




319,636


Research and development (2)


78,134




61,429




221,514




186,691


General and administrative (2)


47,084




35,709




157,417




113,895


Amortization of acquired intangible assets


7,511




7,302




21,708




21,367


Restructuring and other charges, net


(132)




62




584




32,338


Total operating expenses


267,009




209,096




789,538




673,927




















Operating income


73,582




63,401




265,611




143,851


Other expense, net


(15,113)




(18,885)




(43,378)




(64,526)


Income before income taxes


58,469




44,516




222,233




79,325


Provision for income taxes


7,266




9,838




38,253




2,036


Net income

$

51,203



$

34,678



$

183,980



$

77,289




















Earnings per share:
















Basic

$

0.44



$

0.30



$

1.58



$

0.67


Weighted average shares outstanding


116,934




115,759




116,702




115,521




















Diluted

$

0.43



$

0.30



$

1.56



$

0.67


Weighted average shares outstanding


118,611




116,229




118,181




115,981







































(1)

See supplemental financial data for revenue by license, support, and professional services. FY'21 recurring revenue includes a $6.9 million adjustment related to the fair value of acquired deferred revenue.



(2)

See supplemental financial data for additional information about stock-based compensation.



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