Page 1

EX - 99.1 2 ptc - ex991_194.htm EX - 99.1 S ptc PTC ANNOUNCES FISCAL FIRST QUARTER 2021 RESULTS Strong ARR , Revenue and Cash Flow Performance Raises FY'21 Guidance BOSTON , MA , Jan 27 , 2021 - PTC ( NASDAQ : PTC ) today reported financial results for its fiscal first quarter ended December 31 , 2020 . " Fiscal 2021 is off to a great start with double - digit top line growth and strong cash flow generation in the first fiscal quarter . PTC's results reflect strong demand across our product portfolio as customers continue to power their digital transformation initiatives with PTC's market - leading solutions , " said James Heppelmann , President and CEO , PTC . " With adoption of cloud and SaaS - based technologies accelerating in the industrial market , we believe our investments in product innovation and strategic acquisitions position PTC to take share and expand our leadership position in the markets we serve . The acquisition of Arena Solutions , which closed this month , together with Onshape , create the leading pure - SaaS CAD and PLM solution set in the market today . We are excited to welcome the Arena team , and pleased to complement our strong momentum in the traditional CAD and PLM markets , " concluded Heppelmann . First quarter 2021 highlights1 Key operating and financial highlights are set forth below . For additional details , please refer to the Q1'21 earnings presentation and financial data tables that have been posted to the Investor Relations section of our website at investor.ptc.com . ARR was $ 1.34 billion , which is growth of 16 % , or 12 % in constant currency , compared to Q1'20 , reflecting strong performance in our Core and Growth businesses and in our global channel . Revenue was $ 429 million compared to $ 356 million in Q1'20 , growth of 20 % , or 17 % in constant currency , driven primarily by strong large - deal results and longer contract durations . Cash flow from operations was $ 114 million and free cash flow was $ 111 million in Q1'21 , compared to Q1'20 cash flow from operations of $ 8 million and free cash flow of $ 3 million . Operating margin was 21 % in Q1'21 , compared to 9 % in Q1'20 ; Q1'21 non - GAAP operating margin was 36 % , compared to 26 % in Q1'20 . Total cash and cash equivalents as of the end of Q1'21 was $ 399 million ; total debt , net of deferred issuance costs , was $ 988 million . Fiscal 2021 Guidance " Given our strong financial performance again this quarter and the acquisition of Arena Solutions in January 2021 , we are updating our fiscal 2021 financial guidance to reflect the effect of Arena Solutions2 , the impact of foreign currency , and our Q1'21 performance , " said Kristian Talvitie , EVP and CFO , PTC . 1 We include operating and non - GAAP financial measures in our operational highlights . The detailed definitions of these items and reconciliations of Non - GAAP financial measures to comparable GAAP measures are included below and in the reconciliation tables at the end of this press release . 2 Our FY'21 financial guidance does not include the effect of purchase accounting and related tax effects for Arena Solutions , which is expected to have a material effect on our financial statements . 1