PTC Inc. | ||||||||
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||
(in thousands) | ||||||||
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| Three Months Ended |
| Twelve Months Ended | ||||
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| September 30, |
| September 30, |
| September 30, |
| September 30, |
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| 2020 |
| 2019 |
| 2020 |
| 2019 |
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Cash flows from operating activities: |
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| Net income (loss) | $ 53,406 |
| $ 9,826 |
| $ 130,695 |
| $ (27,460) |
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| Stock-based compensation | 41,544 |
| 14,792 |
| 115,149 |
| 86,400 |
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| Depreciation and amortization | 20,140 |
| 19,190 |
| 80,817 |
| 77,824 |
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| Amortization of right-of-use lease assets | 9,220 |
| - |
| 38,687 |
| - |
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| Accounts receivable | (87,027) |
| (58,808) |
| (32,365) |
| 29,446 |
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| Accounts payable and accruals | 14 |
| 23,420 |
| 5,147 |
| 4,102 |
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| Deferred revenue | 13,689 |
| 20,550 |
| 17,046 |
| 45,875 |
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| Income taxes | (6,812) |
| 14,717 |
| (51,257) |
| 1,940 |
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| Other | (10,200) |
| 11,529 |
| (70,111) |
| 67,018 |
Net cash provided by operating activities | 33,974 |
| 55,216 |
| 233,808 |
| 285,145 | |
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| Capital expenditures | (4,784) |
| (4,832) |
| (20,196) |
| (64,411) | |
| Acquisition of businesses, net of cash acquired (1) | (14,958) |
| - |
| (483,478) |
| (86,737) | |
| Purchase of intangible assets | - |
| - |
| (11,050) |
| - | |
| Borrowings (payments) on debt, net | (120,000) |
| (30,000) |
| 344,875 |
| 25,000 | |
| Net proceeds associated with issuance of common stock | 9,402 |
| 8,817 |
| 18,382 |
| 12,975 | |
| Repurchases of common stock | - |
| (24,999) |
| - |
| (114,994) | |
| Payments of withholding taxes in connection with |
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| vesting of stock-based awards | (508) |
| (175) |
| (33,740) |
| (44,366) |
| Purchase of investment | - |
| - |
| - |
| (7,500) | |
| Debt issuance costs | (24) |
| - |
| (17,107) |
| - | |
| Debt early redemption premium | - |
| - |
| (15,000) |
| - | |
| Other financing & investing activities | (9,224) |
| 2,388 |
| (11,248) |
| 7,049 | |
| Foreign exchange impact on cash | 4,152 |
| (4,708) |
| 25 |
| (2,565) | |
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| Net change in cash, cash equivalents, and restricted cash | (101,970) |
| 1,707 |
| 5,271 |
| 9,596 | |
| Cash, cash equivalents, and restricted cash, beginning of period | 377,930 |
| 268,982 |
| 270,689 |
| 261,093 | |
| Cash, cash equivalents, and restricted cash, end of period | $ 275,960 |
| $ 270,689 |
| $ 275,960 |
| $ 270,689 | |
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| Three Months Ended |
| Twelve Months Ended | ||||
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| September 30, |
| September 30, |
| September 30, |
| September 30, |
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| 2020 |
| 2019 |
| 2020 |
| 2019 |
| Cash provided by operating activities | 33,974 |
| 55,216 |
| 233,808 |
| 285,145 | |
| Capital expenditures | (4,784) |
| (4,832) |
| (20,196) |
| (64,411) | |
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| Free cash flow (2) | 29,190 |
| 50,384 |
| 213,612 |
| 220,734 |
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| (1) | In the first quarter of 2020 and the first quarter of 2019, we acquired Onshape for $469 million, net of cash acquired and Frustum for $70 million, net of cash acquired, respectively. In addition, we made a $15M acquisition in the fourth quarter of 2020. | |||||||
| (2) | Free cash flow includes $7.2 million and $42.0 million of restructuring and other related payments in the three and twelve months ended September 30, 2020, respectively, compared with $3.3 million and $24.7 million in the three and twelve months ended September 30, 2019. Free cash flow includes$0.8 million and $9.6 million of acquisition-related payments for the three and twelve months ended September 30, 2020, respectively. | |||||||
Important Disclosures
