PTC's Earnings And Revenues Breeze Past Estimates In Q1
Zacks Investment Research | Jan 22, 2020 09:47PM ET
PTC Inc. (NASDAQ:PTC) reported first-quarter fiscal 2020 non-GAAP earnings of 57 cents per share, up 1.8% on a year-over-year basis, beating the Zacks Consensus Estimate by 26.7%.
Revenues came in at $356.1 million, up 6.4% year over year, surpassing the Zacks Consensus Estimate of $346 million. Solid AR and IoT bookings and synergies from Onshape acquisition drove growth.
Top-Line in Detail
Recurring revenues of $305.4 million improved 21.4% year over year. Perpetual license of almost $9 million declined 78.5% from the year-ago quarter’s figure, owing to “end of perpetual license sales on Jan 1, 2019.”
Revenues by License, Support and Services
License revenues (34.7% of total revenues) were $123.4 million, up 17.2% over the year-ago quarter’s figure.
Support and cloud services revenues (53.6%) of $190.9 million, improved 1.6% year over year.
Professional services revenues (11.7%) of $41.7 million, increasing 0.7% year over year.
Revenues by Product Group
Revenues from Core Product Group, which includes computer-aided design (CAD) & Product Lifecycle Management (PLM) offerings, came in at $830 million, up 9% (up 10% at cc).
Revenues from Growth Product Group (which includes IoT, AR & Onshape) came in at $48 million, up 36% year over year (37% on a cc basis).
Revenues from Focused Solutions Group (FSG) came in at $45 million, down 6% year over year (5% on a cc basis).
ARR Performance
Annualized recurring revenues (ARR) were $1.16 billion, up 11% year over year, driven by strength in Core and Growth product groups.
ARR from Core Product Group (CAD & PLM) came in at $830 million, up 9% (up 10% at cc). Growth was driven by strength in PLM ad robust performance across China and Europe.
ARR from Growth Product Group (IoT, AR & Onshape) came in at $151 million, up 35% year over year, (36% on a cc basis). Year-over-year growth can be attributed to improvement in AR and IoT bookings and strength across Europe and APAC. Synergies from Onshape acquisition aided performance.
ARR from FSG came in at $178 million, up 1% year over year on a cc basis.
PTC Inc. Price, Consensus and EPS Surprise
Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.