PTC Inc. Files Q3 2024 10-Q with Financial Updates
Ticker: PTC · Form: 10-Q · Filed: Aug 2, 2024 · CIK: 857005
Sentiment: neutral
Topics: 10-Q, financial-reporting, debt, hedging
TL;DR
PTC's Q3 10-Q is in: Debt details and hedging instruments disclosed. Looks solid.
AI Summary
PTC Inc. filed its 10-Q for the period ending June 30, 2024. The company reported on its financial position, including details on its long-term debt and other assets and liabilities. Specific financial instruments like foreign exchange forward contracts and options were also disclosed, with some designated as hedging instruments.
Why It Matters
This filing provides investors with a detailed look at PTC Inc.'s financial health and debt obligations as of the end of their third fiscal quarter, crucial for understanding the company's stability and future financial strategy.
Risk Assessment
Risk Level: low — The filing is a standard quarterly report with no immediate red flags or significant negative events indicated.
Key Numbers
- 20240630 — Reporting Period End Date (Indicates the financial snapshot date.)
- 0930 — Fiscal Year End (Defines PTC's annual financial cycle.)
Key Players & Entities
- PTC INC. (company) — Filer of the 10-Q
- 20240630 (date) — End of the reporting period
- 0000857005 (company) — Central Index Key for PTC Inc.
- CorinnaLathanMember (person) — Member associated with PTC
- us-gaap:SeniorNotesMember (dollar_amount) — Reference to senior notes
- ptc:LongTermDebtCurrentMember (dollar_amount) — Reference to current long-term debt
- us-gaap:TrademarksMember (dollar_amount) — Reference to trademarks
- ptc:PureSystemsMember (company) — A specific business segment or product
- currency:CAD (dollar_amount) — Canadian Dollar currency designation
- ptc:ForeignExchangeForwardContractAndOptionsMember (dollar_amount) — Financial instruments related to foreign exchange
FAQ
What is the total amount of PTC Inc.'s long-term debt as of June 30, 2024?
The filing references 'ptc:LongTermDebtCurrentMember' and 'us-gaap:SeniorNotesMember', indicating long-term debt is a reported item, but specific dollar amounts are not provided in this excerpt.
What financial instruments did PTC Inc. use for hedging foreign exchange?
PTC Inc. utilized 'ptc:ForeignExchangeForwardContractAndOptionsMember' which were designated as hedging instruments ('us-gaap:DesignatedAsHedging').
When was the company formerly known as Parametric Technology Corp?
The company's name changed from Parametric Technology Corp on 19920703.
What is the SIC code for PTC Inc.?
The Standard Industrial Classification (SIC) code for PTC Inc. is 7372, categorized under SERVICES-PREPACKAGED SOFTWARE.
Are there any specific non-current assets or liabilities mentioned?
Yes, the filing references 'http://fasb.org/us-gaap/2024#OtherAssetsNoncurrent' and 'http://fasb.org/us-gaap/2024#OtherLiabilitiesNoncurrent', indicating these categories are part of the financial reporting.
Filing Stats: 4,374 words · 17 min read · ~15 pages · Grade level 15.4 · Accepted 2024-08-02 16:15:28
Filing Documents
- ptc-20240630.htm (10-Q) — 2827KB
- ptc-ex31_1.htm (EX-31.1) — 12KB
- ptc-ex31_2.htm (EX-31.2) — 12KB
- ptc-ex32.htm (EX-32) — 11KB
- 0000950170-24-089978.txt ( ) — 9837KB
- ptc-20240630.xsd (EX-101.SCH) — 1250KB
- ptc-20240630_htm.xml (XML) — 1771KB
—FINANCIAL INFORMATION
Part I—FINANCIAL INFORMATION Item 1. Unaudited Condensed Consolidated Financial Statements: 1 Consolidated Balance Sheets as of June 30, 2024 and September 30, 2023 1 Consolidated Statements of Operations for the three and nine months ended June 30, 2024 and June 30, 2023 2 Consolidated Statements of Comprehensive Income for the three and nine months ended June 30, 2024 and June 30, 2023 3 Consolidated Statements of Cash Flows for the nine months ended June 30, 2024 and June 30, 2023 4 Consolidated Statements of Stockholders' Equity for the three and nine months ended June 30, 2024 and June 30, 2023 5 Notes to Condensed Consolidated Financial Statements 7 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Item 3.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 30 Item 4.
Controls and Procedures
Controls and Procedures 30
—OTHER INFORMATION
Part II—OTHER INFORMATION Item 1A.
Risk Factors
Risk Factors 31 Item 5. Other Information 31 Item 6. Exhibits 32 Signature 33 Table of Contents
—FINANCI AL INFORMATION
PART I—FINANCI AL INFORMATION
UNAUDITED CONDENSED CONS OLIDATED FINANCIAL STATEMENTS
ITEM 1. UNAUDITED CONDENSED CONS OLIDATED FINANCIAL STATEMENTS PTC Inc. CONSOLIDATED B ALANCE SHEETS (in thousands, except per share data) (unaudited) June 30, 2024 September 30, 2023 ASSETS Current assets: Cash and cash equivalents $ 247,749 $ 288,103 Accounts receivable, net of allowance for doubtful accounts of $ 1,269 and $ 429 at June 30, 2024 and September 30, 2023, respectively 674,959 811,398 Prepaid expenses 109,373 96,016 Other current assets 59,690 81,849 Total current assets 1,091,771 1,277,366 Property and equipment, net 77,535 88,391 Goodwill 3,442,245 3,358,511 Acquired intangible assets, net 910,505 941,249 Deferred tax assets 151,659 123,319 Operating right-of-use lease assets 131,297 143,028 Other assets 323,133 356,978 Total assets $ 6,128,145 $ 6,288,842 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 47,153 $ 43,480 Accrued expenses and other current liabilities 123,090 132,841 Accrued compensation and benefits 161,073 160,431 Accrued income taxes 25,366 14,919 Current portion of long-term debt 518,071 9,375 Deferred acquisition payments — 620,040 Deferred revenue 671,209 665,362 Short-term lease obligations 23,287 24,737 Total current liabilities 1,569,249 1,671,185 Long-term debt 1,293,083 1,686,410 Deferred tax liabilities 37,255 29,508 Long-term deferred revenue 16,405 16,188 Long-term lease obligations 156,987 168,455 Other liabilities 40,487 39,806 Total liabilities 3,113,466 3,611,552 Commitments and contingencies (Note 11) Stockholders' equity: Preferred stock, $ 0.01 par value; 5,000 shares authorized; none issued — — Common stock, $ 0.01 par value; 500,000 shares authorized; 120,049 and 118,846 shares issued and outstanding at June 30, 2024 and September 30, 2023, respectively 1,200 1,188 Additional