PTC reports Q2 non-GAAP EPS $1.16,consensus $1.14

Reports Q2 revenue $542.18M, consensus $539.14M. "In our Q2, we again delivered strong ARR and cash flow results that exceeded our guidance ranges. We reported ARR growth of 23%, organic ARR growth of 11%, and organic constant currency ARR growth of 13%. Our ServiceMax and Codebeamer businesses added 13 points of ARR growth, taking constant currency ARR growth to 26%. In Q2, our cash from operations was $211M, up 48% year over year, and our free cash flow was $207M, up 48% year over year," said James Heppelmann, CEO. "Our diverse product portfolio, now increasingly differentiated with the addition of ServiceMax, and our industry-leading SaaS capabilities align well to the manufacturing industry’s push for digital transformation. Our subscription model and strong market position, coupled with solid execution, position PTC to deliver financial performance at peer-leading levels. We look forward to building on our momentum with customers and partners at our LiveWorx conference in May in Boston, and invite investors to join us," concluded Heppelmann.