PTC reports Q4 non-GAAP EPS $1.20, consensus $1.14

Reports Q4 revenue $547M, consensus $557.97M. “In our Q4, we again delivered solid ARR and cash flow results. We reported ARR growth of 26%, organic ARR growth of 15%, and organic constant currency ARR growth of 13%. Our ServiceMax business contributed an additional 11 points of ARR growth, taking constant currency ARR growth to 23%. Our operating cash flow was $50M in Q4, up 29% year over year, and $611M in FY’23, up 40%. Our free cash flow was $44M in Q4, up 52% year over year, and $587M in FY’23, up 41%,” said James Heppelmann, CEO. “Our differentiated product portfolio and our industry-leading SaaS capabilities align well to the manufacturing industry’s push for digital transformation. On a constant currency basis, Creo and Windchill ARR continued to grow at a double-digit pace, growing 10% and 16% respectively; ServiceMax ended FY23 at the $170M of ARR we guided to previously; and our Codebeamer ARR has more than doubled since we acquired the business six quarters ago. Our strong market position and solid execution, coupled with our subscription model, position PTC to continue delivering durable and consistent ARR and cash flow growth”.