PTC Inc. (NASDAQ:PTC) Q1 2023 Earnings Call Transcript

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Jim Heppelmann: Yeah. I think maybe a couple of thoughts. One thing I said Jason is that PLM is moving from a nice-to-have to a must-have, and for example, this concept I was talking about earlier model-based enterprise where you’re going to interact with 3D models. And 3D models are too big to e-mail around. By the way, when you’re interacting with a 3D design, it’s not one file, it can be dozens, hundreds or thousands of files and you need a system to find them all and fit them together and present it to you so that you can understand what’s going on. So, I think what’s happening this is all forms of digital transformation is that companies are saying, we’re going to get rid of paper drawings and PDF files. We’re going to go to 3D.

Therefore everybody in the company who interacts with product data is going to need a PLM seat and they’re going to need some type of a 3D seat. It might be a Viewer, it might be CAD, whatever. But it’s driving proliferation of PLM out from the engineering department, where it’s always been into purchasing into manufacturing now into the service technicians. We pretty quickly envision service technicians out in the field on their phone interacting with 3D models when they’re standing in front of a piece of equipment if not augmenting it right onto the piece of equipment. So, I think that’s what’s happening is it’s becoming a true enterprise system versus a departmental system, while at the same time it’s becoming a must-have rather than a nice-to-have.

I think it’s those trends that are really driving this proliferation of PLM, which frankly is good for the whole industry, but I think PTC is taking share in the industry at the same time.

Jason Celino: Okay. Great. I guess we’ll look forward to more at LiveWorx. Thanks.

Jim Heppelmann: Great. Okay. So, let me just wrap up here. Thank you all for spending time with us. In the next quarter, we have quite a busy investor schedule. So, I just want to share with you some of the things happening in case you want to participate. So, Kristian and I together are going tomorrow and Friday, we’re going to — tomorrow at dinner and Friday in the morning we’re going to participate in an RBC roadshow in New York. Then on February 27th, we’re hosting a headquarters visit that JPMorgan is conducting here in Boston. On March 8th, we’re both going to the Morgan Stanley TMT Conference in San Francisco. Meanwhile on my own behalf, I’m going to the Wolfe Conference in New York on February 28th. Kristian additionally is going to the Baird Conference in Utah on March 2nd; to the JPMorgan Global High Yield Conference in Miami on March 6th.

And Kristian’s going on a Barclays Virtual Bus Tour or probably hosting a Barclays Virtual Bus Tour on March 15th. And then one of our executives Kevin Wrenn, who’s our Chief Product Officer is doing the Loop Virtual Conference on March 13th. So, lots of IR touch points here in the coming quarter. Hope to see many of you in the course of one or more of those events. And if not hope to catch you again in about 90 days on our Q2 earnings call. So, thanks again and have a good evening everybody.

Operator: This concludes today’s conference call. Thank you for your participation. You may now disconnect.

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