PTC Inc.

Good afternoon, ladies and gentlemen. Thank you for standing by and welcome to the PTC 2023 First Quarter Conference Call. During today's presentation, all parties will be in a listen-only mode. Following the presentation, the conference will be open for questions. I would now like to turn the call over to Matt Schimau, PTC's Head of Investor Relations. Please go ahead.

Good afternoon. Thank you, Rob, and welcome to PTC's First Quarter 2023 Conference Call. On the call today are Jim Heppelman, Chief Executive Officer, Christian Talvatia, Chief Financial Officer, and Mike DiTullio, President of our Digital Thread Group. Today's conference call is being broadcast live through an audio webcast, and a replay of the call will be available later today at www.ptc.com. During this call, PTC will be making forward-looking statements, including guidance as to future operating results. Because such statements deal with future events, actual results may differ materially from those projected in the forward-looking statements. Actual information concerning factors that could cause actual results to differ materially from those in the forward-looking statements can be found in PTC's annual report on Form 10-K, Form 10-Q, and other filings with the U.S. Securities and Exchange Commission, as well as in today's press release. The forward-looking statements, including guidance provided during this call, are valid only as of today's date, February 1st, 2023, and PTC assumes no obligation to update these forward-looking statements. During the call, PTC will discuss non-GAAP financial measures. These non-GAAP measures are not prepared in accordance with generally accepted accounting principles. A reconciliation of the non-GAAP financial measures to the most directly comparable GAAP measures can be found in today's press release made available on our website. With that, I'd like to turn the call over to PTC's Chief Executive Officer, Jim Heppelman.

Thanks, Matt. Good afternoon, everyone, and thank you for joining us. Turning to slide four, I'm pleased to report that despite seeing some incremental macro softness, PTC delivered a solid first quarter to kick off fiscal 23. On the top line metric of ARR, we came in at $1.603 billion. which was above the high end of our range and up more than 15% year over year. The strength was broad-based across all product groups and geographies.