PTC to preview Windchill AI and Document Vault AI agent PTC to demonstrate agentic AI across the product digital thread with Windchill AI, Codebeamer AI, and ServiceMax AI PTC demonstrations available in Hall 17, Stand D40 from March 31 – April 4, 2025 BOSTON, March 25, 2025 /PRNewswire/ -- PTC (NASDAQ: PTC) will preview its Windchill® AI product lifecycle management (PLM) assistant, a generative AI-powered PLM offering, at Hannover Messe 2025. Windchill AI leverages all product data stored in Windchill to ...

BOSTON, March 13, 2025 /PRNewswire/ -- PTC (NASDAQ: PTC) today announced that it has appointed Trac Pham to its Board of Directors, effective March 17, 2025.Pham is the former Chief Financial Officer of Synopsys, a recognized leader in electronic design automation and semiconductor development. During his tenure as CFO, Pham led Synopsys through two significant transformations that helped scale the company from $2.0B to $5.1B in revenue while expanding operating margins. He is currently on the Board of Dire ...

Group 1 - PTC Therapeutics is facing declining revenues and profitability but is preparing for a turnaround [1] - The company has potential asymmetric upside due to several regulatory catalysts expected in 2025, including the FDA review of vatiquinone for Friedreich's ataxia and sepiapterin [1]

Core Viewpoint - PTC Inc. has reported a mixed performance in its recent earnings, with a notable earnings beat but a decline in share price, raising questions about future performance leading up to the next earnings release [1][2]. Financial Performance - PTC reported Q1 fiscal 2025 non-GAAP EPS of $1.10, exceeding the Zacks Consensus Estimate by 20.9% [2]. - Revenues reached $565 million, reflecting a 3% year-over-year increase, and beating the consensus estimate by 2.4% [3]. - Recurring revenues were $524.3 million, up 3.6% year over year, while perpetual licenses increased by 11.4% to $9.4 million [5]. - License revenues constituted 30.6% of total revenues at $172.8 million, down 6.1% from the previous year, while support and cloud services revenues increased by 9.2% to $361 million [6]. - Professional services revenues decreased by 12.1% year over year to $31.4 million [7]. - PLM revenues were $353 million, up 1% year over year, and CAD revenues were $212 million, up 5% year over year [8]. Annualized Recurring Revenue (ARR) - ARR was reported at $2.205 billion, a 7% increase year over year, with constant currency ARR at $2.277 billion, up 11% year over year [9]. - PLM and CAD ARR were $1,357 million and $848 million, rising 8% and 5% year over year, respectively [9]. Operating Metrics - Non-GAAP gross margin remained stable at 82.7% year over year [10]. - Total operating expenses increased by $17 million year over year to $338 million, while operating income fell by 4% year over year to $191 million [10]. - Operating margin on a non-GAAP basis improved by 240 basis points year over year to 34% [11]. Balance Sheet and Cash Flow - As of December 31, 2024, cash and cash equivalents were $196 million, down from $266 million as of September 30, 2024 [12]. - Total debt decreased to $1.544 billion from $1.748 billion [12]. - Cash provided by operating activities was $238 million, compared to $187 million in the prior year, and free cash flow was $236 million, up from $183 million [12]. Financial Outlook - For Q2 fiscal 2025, PTC estimates revenues between $590 million and $620 million, with non-GAAP EPS projected in the range of $1.30 to $1.50 [13]. - Full-year fiscal 2025 revenue projections are now between $2,430 million and $2,530 million, indicating a 6-10% year-over-year increase [14]. - Non-GAAP EPS for fiscal 2025 is estimated to be between $5.30 and $6.00, suggesting a 4-18% increase [14]. - Cash from operations is projected to be between $850 million and $865 million, indicating a 13% to 15% year-over-year increase [15]. Market Sentiment - Estimates for PTC have trended downward recently, with a consensus estimate shift of -8.27% [16]. - PTC holds a Zacks Rank 3 (Hold), indicating expectations for an in-line return in the coming months [18].

Company Announcements - PTC Therapeutics, Inc. will participate in fireside chats at two upcoming investor conferences: TD Cowen 45th Annual Health Care 2025 Conference on March 4 at 11:10 a.m. ET and Barclays 27th Annual Global Healthcare Conference on March 11 at 12:30 p.m. ET [1] - The presentations will be available for live webcast on PTC's website and will be archived for 30 days after the event [1] Company Overview - PTC Therapeutics is a global biopharmaceutical company focused on discovering, developing, and commercializing clinically differentiated medicines for rare disorders [2] - The company's innovation in identifying new therapies and its ability to globally commercialize products are key drivers of its investment in a diverse pipeline of transformative medicines [2]

Core Insights - PTC Therapeutics has received FDA acceptance for the New Drug Application (NDA) for vatiquinone, targeting a PDUFA action date of August 19, 2025, for the treatment of Friedreich's ataxia (FA) [1][2] - Vatiquinone, if approved, would be the first therapy for pediatric patients with FA and a potential treatment alternative for adults, addressing a significant unmet need [2][4] - The NDA is based on data from the MOVE-FA study and two long-term studies, showing significant evidence of slowing disease progression and demonstrating safety across all age groups [2][5] Company Overview - PTC Therapeutics is a global biopharmaceutical company focused on developing and commercializing medicines for rare disorders, with a robust and diversified pipeline [7] - The company has submitted four approval applications to the FDA in 2024, all of which have been accepted for review [3] Product Information - Vatiquinone is a first-in-class selective inhibitor of 15-Lipoxygenase, aimed at alleviating mitochondrial dysfunction and oxidative stress associated with Friedreich's ataxia [4] - The MOVE-FA trial enrolled 146 patients, primarily under 18 years, and while the primary endpoint was not statistically significant, a significant effect was observed on the upright stability subscale [5] Disease Context - Friedreich's ataxia is a rare, debilitating neuromuscular disorder affecting coordination and muscle strength, primarily caused by a genetic defect in the frataxin gene [6] - Approximately 25,000 individuals are affected by Friedreich's ataxia globally, with symptoms including poor balance, difficulty in speech and swallowing, and serious heart conditions [6]

WARREN, N.J., Feb. 13, 2025 /PRNewswire/ -- PTC Therapeutics, Inc. (NASDAQ: PTCT) today announced that the company will host a webcast conference call to report its fourth quarter and full year 2024 financial results and provide an update on the company's business and outlook on Thursday, Feb. 27, at 4:30 p.m. EST.To access the call by phone, please click here to register and you will be provided with dial-in details. To avoid delays, we recommend participants dial in 15 minutes prior to the start of the ca ...

Core Insights - PTC has launched ServiceMax AI, a field service management assistant powered by generative artificial intelligence (GenAI) to enhance technician productivity and streamline service operations [1][2][6] - The new AI capabilities allow technicians to automate documentation, scheduling tasks, and receive proactive maintenance recommendations based on comprehensive asset history [1][6] Company Overview - PTC is a global software company headquartered in Boston, Massachusetts, with over 7,000 employees and more than 30,000 customers worldwide [4] - The company focuses on enabling manufacturers and product companies to digitally transform their design, manufacturing, and service processes [4] Technology and Features - ServiceMax AI utilizes extensive field service expertise and GenAI technology to modernize workflows and improve technician experiences [2][6] - The solution intelligently searches manuals, troubleshooting guides, and service history to provide answers to technician inquiries and recommend service resolutions [6]

Revenue Growth - ARR grew 7% (11% constant currency) to $2.21 billion as of the end of Q1'25 compared to Q1'24[89] - Revenue increased by 3% (2% constant currency) to $565 million in Q1'25 compared to Q1'24, driven by growth in support and cloud services revenue[91] - Total recurring revenue rose by 4% to $524.3 million in Q1'25 compared to Q1'24[94] - PLM ARR grew 8% (11% constant currency) from Q1'24 to Q1'25[106] - CAD ARR increased by 5% (9% constant currency) from Q1'24 to Q1'25[106] Cash Flow and Operating Activities - Cash provided by operating activities grew 27% to $238 million in Q1'25 compared to Q1'24[90] - Free cash flow increased by 29% to $236 million in Q1'25 compared to Q1'24[90] - Cash provided by operating activities increased by $51.1 million to $238.4 million in Q1'25 compared to $187.3 million in Q1'24, driven by higher collections and lower vendor disbursements[132] - Cash provided by operating activities rose to $238.4 million in Q4 2024, compared to $187.3 million in Q4 2023, marking an increase of 27.3%[151] - Free cash flow improved to $235.7 million in Q4 2024, up from $182.8 million in Q4 2023, representing a growth of 29.0%[151] Earnings and Profitability - Diluted earnings per share rose 23% to $0.68 in Q1'25 compared to $0.55 in Q1'24[91] - Income before income taxes increased by 9% to $93.2 million in Q1'25 compared to $85.6 million in Q1'24, while the provision for income taxes decreased by 43% to $10.9 million[121] - GAAP diluted earnings per share increased to $0.68 in Q4 2024 from $0.55 in Q4 2023, reflecting a growth of 23.6%[151] - Non-GAAP net income for Q4 2024 was $133.3 million, slightly up from $133.0 million in Q4 2023, indicating a stable performance[151] Expenses and Margins - Total operating expenses increased by 5% to $337.8 million in Q1'25 from $321.5 million in Q1'24, driven by a $20 million increase in compensation expenses and a $5 million increase in outside services[113][114] - Total gross margin increased by 3% to $453.3 million in Q1'25 compared to Q1'24[109] - Professional services revenue decreased by 12% to $31.4 million in Q1'25 compared to Q1'24[102] - Professional services gross margin decreased in Q1'25 compared to Q1'24, primarily due to higher compensation costs related to severance from go-to-market realignment[111] - Non-GAAP operating margin decreased to 33.9% in Q4 2024 from 36.2% in Q4 2023, showing a decline of 6.3%[152] Debt and Financing - Total debt decreased to $1,547.5 million as of December 31, 2024, from $1,752.6 million, with $524.9 million classified as current debt[135][136] - Interest expense decreased by 38% to $22.0 million in Q1'25 from $35.3 million in Q1'24 due to lower aggregate debt[117] - Cash used in financing activities in Q1'25 included $205.1 million in net payments on the credit facility and $75.0 million for common stock repurchases[134] Taxation - The effective income tax rate for Q1'25 was 12%, down from 22% in Q1'24, primarily due to changes in the geographic mix of income[121] Capital Expenditures - Capital expenditures for Q4 2024 were $(2.8) million, a decrease from $(4.6) million in Q4 2023, indicating improved capital efficiency[151] Market Risk - The company reported no significant changes in market risk exposure as per the 2024 Annual Report[153]

Core Viewpoint - PTC's shares declined by 8.8% following a disappointing first-quarter 2025 earnings report, but the underlying metrics suggest a potential buying opportunity [1] Group 1: Earnings Performance - Q1 earnings aligned with management's previous guidance, indicating that the earnings themselves were not the issue [2] - The updated full-year guidance raised concerns among investors, particularly due to the company's reorganization of its go-to-market strategy [2][3] Group 2: Full-Year Guidance Changes - PTC's full-year 2025 revenue guidance was revised down from $2,430 million to $2,530 million to a new range of $2,505 million to $2,605 million [4] - Non-GAAP earnings per share guidance was also lowered from $5.30 to $6 to a new range of $5.60 to $6.30 [4] - Annual run rate (ARR) growth and free cash flow guidance remained unchanged, indicating stability in these metrics [4] Group 3: Financial Metrics and Future Outlook - PTC emphasizes free cash flow (FCF) and annual run rate (ARR) as key indicators of progress, which remain on track for 2025 [5][6] - The company argues that traditional accounting standards complicate revenue and earnings forecasting, particularly for on-premise subscription sales [5] - Given the maintained guidance for FCF and ARR, there is potential for stock recovery in the future [6]