Alexei Gogolev
JPMorgan Chase & Co, Research Division

Great. Hello, everyone. Welcome to JPMorgan Boston TMC Conference. My name is Alexei Gogolev, Head of Vertical SaaS team here at JPMorgan. And today, I'm delighted to be hosting PTC management. We've got Neil Barua, company CEO; and Jen DiRico, CFO of PTC. Neil, Jen, welcome.

Neil Barua
President, CEO & Director

Thank you.

Alexei Gogolev
JPMorgan Chase & Co, Research Division

First, if I may begin the conversation with your intelligent product life cycle and state? Neil, when you describe the intelligent product life cycle, what does the target enterprise architecture look like in practice? And what are the most common customer missteps on that journey?

Neil Barua
President, CEO & Director

Sure. Thanks for having us. Maybe taking a step back around what PTC does in relation to the intelligent product life cycle. The companies we serve, our customers, they build the most amazing products in the world. Our solutions, our software solutions are fundamental to the entire product life cycle of those products, whether it be design, engineer, configure, make and service those products. And so we sell and have a set of solutions across CAD, PLM, ALM and SLM solutions to fulfill our customers' desire to really speed up and make their product life cycle effective so they can build and have great products that we all consume out in the world.

The intelligent product life cycle is around making sure our customers actually adopt these technologies so that