$PTC
PTC INC.

2023 Q1 Form 10-Q Financial Statement

#000095017023002335 Filed on February 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4
Revenue $542.2M $465.9M
YoY Change 7.31% 1.79%
Cost Of Revenue $113.5M $95.79M
YoY Change 21.61% 0.71%
Gross Profit $428.7M $370.1M
YoY Change 4.08% 2.07%
Gross Profit Margin 79.06% 79.44%
Selling, General & Admin $195.1M $169.4M
YoY Change 21.97% -4.54%
% of Gross Profit 45.52% 45.76%
Research & Development $100.3M $88.18M
YoY Change 22.47% 9.49%
% of Gross Profit 23.41% 23.82%
Depreciation & Amortization $27.71M $21.33M
YoY Change 29.6% -3.44%
% of Gross Profit 6.46% 5.76%
Operating Expenses $306.1M $265.6M
YoY Change 21.15% -11.61%
Operating Profit $122.5M $104.6M
YoY Change -23.02% 68.17%
Interest Expense $41.53M $16.36M
YoY Change 239.28% 25.97%
% of Operating Profit 33.89% 15.64%
Other Income/Expense, Net -$41.47M -$18.48M
YoY Change -4.41% -398.79%
Pretax Income $81.07M $86.42M
YoY Change -21.72% 56.07%
Income Tax $17.57M $11.39M
% Of Pretax Income 21.67% 13.18%
Net Earnings $63.50M $75.04M
YoY Change -29.19% 62.8%
Net Earnings / Revenue 11.71% 16.11%
Basic Earnings Per Share $0.54 $0.64
Diluted Earnings Per Share $0.53 $631.7K
COMMON SHARES
Basic Shares Outstanding 118.3M 117.5M
Diluted Shares Outstanding 119.0M 118.8M

Balance Sheet

Concept 2023 Q1 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $320.5M $387.6M
YoY Change 4.24% 30.66%
Cash & Equivalents $320.5M $387.6M
Short-Term Investments
Other Short-Term Assets $83.62M $66.78M
YoY Change -44.28% -53.96%
Inventory
Prepaid Expenses $119.3M $110.4M
Receivables $643.0M $562.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.166B $949.6M
YoY Change 20.63% -5.91%
LONG-TERM ASSETS
Property, Plant & Equipment $92.00M $243.8M
YoY Change -62.09% 151.71%
Goodwill $3.369B $2.389B
YoY Change 54.11% 9.07%
Intangibles $979.2M $373.8M
YoY Change 2.74%
Long-Term Investments
YoY Change
Other Assets $391.5M $839.9M
YoY Change -37.6% 163.92%
Total Long-Term Assets $5.133B $3.846B
YoY Change 50.47% 12.75%
TOTAL ASSETS
Total Short-Term Assets $1.166B $949.6M
Total Long-Term Assets $5.133B $3.846B
Total Assets $6.300B $4.796B
YoY Change 43.88% 8.49%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $37.69M $38.98M
YoY Change 58.77% 18.41%
Accrued Expenses $272.7M $245.3M
YoY Change 20.33% -12.17%
Deferred Revenue $649.3M $500.2M
YoY Change 7.6%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.593B $516.0M
YoY Change 103.62% -33.84%
LONG-TERM LIABILITIES
Long-Term Debt $1.918B $1.351B
YoY Change 51.53% -6.17%
Other Long-Term Liabilities $32.87M $528.0M
YoY Change -86.44% 1026.07%
Total Long-Term Liabilities $32.87M $1.879B
YoY Change -97.82% 3907.65%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.593B $516.0M
Total Long-Term Liabilities $32.87M $1.879B
Total Liabilities $3.781B $2.395B
YoY Change 64.79% -2.9%
SHAREHOLDERS EQUITY
Retained Earnings $866.3M $802.8M
YoY Change 74.23%
Common Stock $1.182M $1.182M
YoY Change 1.11%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.519B $2.401B
YoY Change
Total Liabilities & Shareholders Equity $6.300B $4.796B
YoY Change 43.88% 8.49%

Cashflow Statement

Concept 2023 Q1 2022 Q4
OPERATING ACTIVITIES
Net Income $63.50M $75.04M
YoY Change -29.19% 62.8%
Depreciation, Depletion And Amortization $27.71M $21.33M
YoY Change 29.6% -3.44%
Cash From Operating Activities $210.9M $180.9M
YoY Change 48.22% 31.35%
INVESTING ACTIVITIES
Capital Expenditures $3.770M -$9.180M
YoY Change -161.28% -373.05%
Acquisitions $0.00
YoY Change
Other Investing Activities -$836.5M -$12.30M
YoY Change -1860.02% -290.0%
Cash From Investing Activities -$840.3M -$21.48M
YoY Change -2130.81% -907.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $0.00
YoY Change
Cash From Financing Activities 561.6M -52.64M
YoY Change -428.77% -68.88%
NET CHANGE
Cash From Operating Activities 210.9M 180.9M
Cash From Investing Activities -840.3M -21.48M
Cash From Financing Activities 561.6M -52.64M
Net Change In Cash -67.68M 106.8M
YoY Change -625.97% -451.24%
FREE CASH FLOW
Cash From Operating Activities $210.9M $180.9M
Capital Expenditures $3.770M -$9.180M
Free Cash Flow $207.2M $190.1M
YoY Change 39.54% 41.47%

Facts In Submission

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CY2022Q4 ptc Interest Coverage Ratio Actual
InterestCoverageRatioActual
14.05
CY2022Q4 us-gaap Debt Instrument Periodic Payment Interest
DebtInstrumentPeriodicPaymentInterest
4800000
CY2021Q4 us-gaap Debt Instrument Periodic Payment Interest
DebtInstrumentPeriodicPaymentInterest
2400000
CY2022Q4 us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.042
CY2021Q4 ptc Collateralized Letters Of Credit Outstanding
CollateralizedLettersOfCreditOutstanding
500000
CY2019Q1 ptc Sublease Income Corporate Headquarters
SubleaseIncomeCorporateHeadquarters
9100000
CY2022Q1 ptc Sublease Income Corporate Headquarters
SubleaseIncomeCorporateHeadquarters
2900000
CY2022Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
8054000
CY2021Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
8860000
CY2022Q4 us-gaap Short Term Lease Cost
ShortTermLeaseCost
763000
CY2021Q4 us-gaap Short Term Lease Cost
ShortTermLeaseCost
540000
CY2022Q4 us-gaap Variable Lease Cost
VariableLeaseCost
2630000
CY2021Q4 us-gaap Variable Lease Cost
VariableLeaseCost
2490000
CY2022Q4 us-gaap Sublease Income
SubleaseIncome
1185000
CY2021Q4 us-gaap Sublease Income
SubleaseIncome
1117000
CY2022Q4 us-gaap Lease Cost
LeaseCost
10262000
CY2021Q4 us-gaap Lease Cost
LeaseCost
10773000
CY2022Q4 us-gaap Operating Lease Payments
OperatingLeasePayments
8261000
CY2021Q4 us-gaap Operating Lease Payments
OperatingLeasePayments
15865000
CY2022Q4 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
217000
CY2021Q4 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
239000
CY2022Q4 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
13375000
CY2021Q4 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
4916000
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P11Y6M
CY2022Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P1Y9M18D
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.053
CY2022Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.030
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
24922000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
29496000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
25934000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
21687000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
18625000
CY2022Q4 ptc Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
150828000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
271492000
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
71574000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
199918000
CY2022Q4 ptc Operating Lease Not Commenced Future Lease Payments
OperatingLeaseNotCommencedFutureLeasePayments
2200000
CY2022Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
15100000
CY2022Q4 ptc Collateralized Letters Of Credit Outstanding
CollateralizedLettersOfCreditOutstanding
500000
CY2021Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
15300000

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