Company: PTC
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0000950170-25-015530
Chunk: 22

Company: PTC INC.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 2
Chunk 22
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66.4

    Stock-based compensation

    55.9

    59.0

    Amortization of acquired intangible assets

    19.7

    19.9

    Acquisition and transaction-related charges

    0.2

    2.5

    Restructuring and other credits, net

    —

    (0.8
    )

    Income tax adjustments(1)

    (24.7
    )

    (14.0
    )

    Non-GAAP net income
     
    $
    133.3

    $
    133.0

    GAAP diluted earnings per share
     
    $
    0.68

    $
    0.55

    Stock-based compensation

    0.46

    0.49

    Amortization of acquired intangible assets

    0.16

    0.17

    Acquisition and transaction-related charges

    0.00

    0.02

    Restructuring and other credits, net

    —

    (0.01
    )

    Income tax adjustments(1)

    (0.20
    )

    (0.12
    )

    Non-GAAP diluted earnings per share
     
    $
    1.10

    $
    1.11

    Cash provided by operating activities
     
    $
    238.4

    $
    187.3

    Capital expenditures

    (2.8
    )

    (4.6
    )

    Free cash flow
     
    $
    235.7

    $
    182.8

(1)Income tax adjustments reflect the tax effects of non-GAAP adjustments which are calculated by applying the applicable tax rate by jurisdiction to the non-GAAP adjustments listed above. Additionally, adjustments exclude a $5.4 million benefit in Q1’25 and $3.6 million charge in Q1’24 related to the non-cash tax impact of tax reserves related to prior years in foreign jurisdictions.

Operating margin impact of non-GAAP adjustments:

    Three months ended

    December 31, 2024

    December 31, 2023

    GAAP operating margin

    20.4
    %

    21.6
    %

    Stock-based compensation

    9.9
    %

    10.7
    %

    Amort