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PTC Inc. (PTC+0.52%) has submitted its 10-K filing for the fiscal year ended September 30, 2024.
The filing includes financial statements for the year, showing an increase in total revenue to $2,298.5 million from $2,097.1 million in the previous year. This growth was driven by an increase in both software and professional services revenue.
Operating income for the year was reported at $588.1 million, up from $458.5 million in the previous year, with the increase attributed to higher revenue and cost management.
The company reported a net income of $376.3 million for the year, compared to $245.5 million in the previous year. Earnings per share were $3.12, up from $2.06 in the previous year.
Cash provided by operating activities increased to $750 million, compared to $610.9 million in the previous year. Free cash flow was reported at $735.6 million, up from $587 million.
PTC's total debt as of September 30, 2024, was approximately $1,752.6 million, with a weighted average interest rate of 5.1%. The company had cash and cash equivalents of $266.5 million at the end of the fiscal year.
The company continues to focus on its subscription model, with 93% of its 2024 revenue being recurring in nature. PTC's ARR grew 14% to $2.25 billion by the end of the fiscal year.
PTC completed the acquisition of pure-systems GmbH for $93.5 million in October 2023, expanding its product lifecycle management offerings.
The company identified various risks, including competition, cybersecurity threats, and compliance with international regulations, which could impact its business operations and financial results.
PTC's Board of Directors has authorized a share repurchase program of up to $2 billion through September 30, 2027, with intentions to repurchase approximately $300 million of common stock in FY'25.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the PTC Inc. annual 10-K report dated November 14, 2024. To report an error, please email earnings@qz.com.