Introduction
PTC (PTC) is in the midst of transitioning its revenue from perpetual license to subscription license. On October 3, 2016, PTC reported that its preliminary bookings for the fourth quarter that ended on September 20, 2016, are expected to be between $139 million and $142 million, well above their previous guidance of $11 million to $121 million.
They had two deals over $5 million in bookings, one for their PLM product and the other for their service parts management solution. But James Heppelmann, CEO of PTC, has set his sights on moving the company from depending on slow-growth CAD and PLM software to potential high-growth, high-risk opportunities extended by the Internet of Things (NYSEMKT:IOT). Mr. Heppelmann believes so much in that opportunity that PTC has even changed their logo.
