PTC appoints former Synopsys CFO to board

BOSTON - PTC Inc. (NASDAQ: PTC), a global software company with a market capitalization of $18.39 billion and impressive gross profit margins of 80.7%, has announced the appointment of Trac Pham to its Board of Directors, with his tenure set to begin on March 17, 2025. According to InvestingPro data, the company maintains a "GOOD" financial health rating, positioning it well for future growth. Pham, recognized for his financial expertise, previously served as the Chief Financial Officer of Synopsys, where he played a pivotal role in scaling the company’s revenue from $2.0 billion to $5.1 billion, while also expanding operating margins. His appointment comes as PTC generates annual revenue of $2.31 billion and demonstrates strong operational efficiency. For deeper insights into PTC’s financial metrics and growth potential, investors can access comprehensive analysis through InvestingPro’s detailed research reports.

In addition to his new role at PTC, Pham is an active member of other boards, including UKG and SiFive, where he chairs the Audit Committee for both companies. His extensive experience in financial and operational management is expected to bring valuable insights to PTC’s Board.

Neil Barua, President and CEO of PTC, expressed his confidence in Pham’s abilities, citing his track record of driving growth and creating value as key reasons for his appointment. Barua anticipates that Pham’s guidance will be instrumental as PTC continues to expand its business and enhance customer support.

Pham also shared his enthusiasm for joining PTC, acknowledging the significant influence the company has on its customers’ ability to design, manufacture, and service products. He is eager to collaborate with the leadership team and fellow board members to further PTC’s strategic objectives and shareholder value.

Before his success at Synopsys, Pham held leadership roles at Juniper Networks, where he was responsible for corporate finance, financial planning, and strategy. His upcoming role on PTC’s Audit Committee is anticipated to leverage his substantial experience in corporate finance and strategy.

PTC, headquartered in Boston, Massachusetts, specializes in digital transformation solutions for industrial and manufacturing companies. The firm employs over 7,000 people and serves more than 30,000 customers worldwide. While currently trading near its 52-week low, the company has demonstrated strong returns over the past five years. InvestingPro subscribers can access over 15 additional ProTips and comprehensive financial metrics to make informed investment decisions.

This board appointment is based on a press release statement and reflects PTC’s ongoing efforts to strengthen its leadership and governance as it navigates the evolving global software industry.

In other recent news, PTC Inc. reported first-quarter earnings that exceeded analyst expectations. The company posted adjusted earnings per share of $1.10, surpassing the consensus estimate of $0.90. Revenue for the quarter came in at $565 million, slightly above the projected $555.42 million and marking a 3% increase year-over-year. However, PTC’s guidance for the upcoming quarter and full fiscal year fell short of analyst expectations, causing concern among investors. For the second quarter, PTC forecasts adjusted EPS of $1.30-$1.50, below the $1.62 consensus, with expected revenue between $590-620 million, missing the $647 million estimate. The full-year guidance also disappointed, with projections of adjusted EPS at $5.30-$6.00 and revenue of $2.43-2.53 billion, both below analyst forecasts. Despite the positive earnings, the outlook suggests potential challenges in maintaining growth. BMO analyst Daniel Jester maintained an Outperform rating but lowered his price target from $225 to $220, citing the need for strong execution for the rest of the year.

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