PTC reports Q3 non-GAAP EPS $1.64, consensus $1.21

Reports Q3 revenue $644M, consensus $583.25M. “Q3 was another solid quarter of execution for PTC (PTC). Our strategy of enabling product data foundations and extending the value of that data across the enterprise is resonating with customers across our verticals and geographies,” said Neil Barua, CEO. “In Q3, we continued to advance our go-to-market transformation, and I can say with confidence that we are structurally stronger. We also progressed our five focus areas of CAD, PLM, ALM, SLM, and SaaS with new product offerings and enhancements and key customer wins. While the macroeconomic picture still poses some uncertainty for our customers, we sense that we are past the point of maximum disruption, and look forward to productive customer engagements throughout Q4”. “In Q3, the selling environment remained challenging. Against this backdrop, our constant currency ARR was solid, growing 9.3% year over year. Our Q3 cash flow was also solid, with operating cash flow and free cash flow both growing 14% year over year, driven by our ARR growth, subscription business model, and diligent financial management. Additionally, as planned, we repurchased $75M worth of our stock in Q3,” said Kristian Talvitie, CFO.