*Note: Used Financial Summary based on ASC 606

PTC (NASDAQ: PTC) reported Q2 EPS of $0.22, $0.13 worse than the analyst estimate of $0.35. Revenue for the quarter came in at $290 million versus the consensus estimate of $314.01 million.

Financial Summary - ASC 606 (1)

• Revenue of $290 million
• GAAP net loss was $44 million or ($0.37) per diluted share; non-GAAP net income was $26 million or $0.22 per diluted share
• GAAP operating margin of (8%); non-GAAP operating margin of 15%

Financial Summary ASC 605 (1)

• Revenue of $315 million
• GAAP net loss was $12 million or ($0.10) per diluted share; non-GAAP net income was $45 million or $0.38 per diluted share
• GAAP operating margin of 0%; non-GAAP operating margin of 21%

“We are pleased with our second quarter financial performance with revenue, margin and EPS at or above the high end of our guidance range,” said James Heppelmann, President and CEO, PTC. “Bookings growth of 18% year over year in constant currency was driven by a strong quarter for IoT, with IoT bookings growth well above the estimated 30-40% market growth rate. With our subscription business model transition complete, we were pleased to deliver Subscription bookings mix above 90%.”

GUIDANCE:

PTC sees Q3 2019 EPS of $0.20-$0.30, versus the consensus of $0.40. PTC sees Q3 2019 revenue of $288-303 million, versus the consensus of $331.74 million.

PTC sees FY2019 EPS of $1.45-$1.70, versus the consensus of $1.80. PTC sees FY2019 revenue of $1.25-1.28 billion, versus the consensus of $1.33 billion.

For earnings history and earnings-related data on PTC (PTC) click here.