PTC ANNOUNCES FOURTH FISCAL QUARTER AND FULL YEAR 2022 RESULTS

Strong Performance in Fourth Fiscal Quarter and Full Year

BOSTON, Nov. 2, 2022 /PRNewswire/ -- PTC (NASDAQ: PTC) today reported financial results for its fourth fiscal quarter and full year ended September 30, 2022.

"In our fourth fiscal quarter, we again delivered strong results. We reported ARR growth of 7%, organic ARR growth of 6%, and organic constant currency growth of 15%. The Codebeamer business, which we acquired in the third quarter, continued to perform well and added an additional point of ARR growth, taking constant currency ARR growth to 16% for the 4th quarter and full year. In fiscal 2022, our cash from operations was $435 million, up 18% year over year, and our free cash flow was $416 million, up 21% year over year. While currency headwinds have impacted our ARR, our solid execution, the timing of our collections, and prudent cost controls have mitigated the impact on cash flow," said James Heppelmann, President and CEO, PTC.

"Our differentiated product portfolio and industry-leading SaaS capabilities align well to the manufacturing industry's push for digital transformation. Despite challenging economic conditions, the strong resiliency of our business due to our subscription model and our strong market position, coupled with strong execution, has allowed PTC to surpass all of our key guidance measures throughout fiscal 2022. We are positioned for continued solid performance in fiscal 2023," concluded Heppelmann.