BOSTON, MA, Aug 1, 2024 – PTC reported financial results for its third fiscal quarter ended June 30, 2024. This quarter’s revenue stood at $518.6M, down 14% compared to $603.07M of second quarter of 2024, with a profit of $68.9M.
“In our third fiscal quarter, we again delivered solid ARR and cash flow, with year-over-year ARR growth in the low double-digits and cash flow growth above 20%. We have a differentiated strategy that leverages our unique product portfolio to help product companies accelerate time to market and manage increasing complexity. It’s an exciting time because our products are at the epicenter of driving business transformation at our customers. We are strengthening our ability to scale our business by continuing to align our resources with our five focus areas,” said Neil Barua, CEO, PTC.
“In a selling environment that continued to be challenging, our Q3’24 ARR grew 10% year over year, and constant currency ARR grew 12% year over year, driven by our differentiated product portfolio, the resilience of our subscription business model, operational discipline, and the actions we have taken over time to align our investments with market opportunities. Our Q3’24 free cash flow growth of 29% was also solid, although slightly below our guidance due to timing. Reflecting our year-to-date performance and our outlook for the fourth quarter, we are updating our FY’24 constant currency ARR guidance range to 11 to 12 percent growth and maintaining our FY’24 free cash flow guidance. We believe we have set our guidance appropriately,” said Kristian Talvitie, CFO.
A complete chart of the financial results is available here.
About PTC
PTC is a global software company that enables industrial and manufacturing companies to digitally transform how they engineer, manufacture, and service the physical products that the world relies on. Headquartered in Boston, MA, PTC employs over 7,000 people and supports more than 25,000 customers globally.
For more information, please visit ptc.com.
