Support for OpenUSD and Integration of Ansys AVxcelerate Sensors within NVIDIA DRIVE Sim, powered by NVIDIA Omniverse, improves development and validation of AV perception systems / Key Highlights In Q1 2024, Ansys AVxcelerate Sensors will be accessible within NVIDIA DRIVE Sim, a scenario-based autonomous vehicle (AV) simulator powered by NVIDIA Omniverse Ansys will augment NVIDIA DRIVE Sim's powerful scenario generation capabilities to enhance advanced driver assistance systems (ADAS) and AV perception de ...

Ansys simulation solutions optimized mission planning and lunar lander design, increasing likelihood of success / Key Highlights Ansys multiphysics and digital mission engineering (DME) solutions enabled Astrobotic to predict many categories of the spacecraft's performance indicators throughout all phases of the mission, from plotting the orbital trajectory to analyzing communication system performance Astrobotic's Peregrine lunar lander will carry 20 payloads from seven nations, and five NASA payloads in s ...

Key PointsAnsys stock surged 18% on Synopsys acquisition news.Fellow software maker Altair, also seen as a potential acquisition target, advanced 11.48%.Analysts predict a 2024 M&A surge, despite potential antitrust challenges.5 stocks we like better than ANSYSShareholders of engineering simulation software maker Ansys Inc. NASDAQ: ANSS got a holiday gift as the stock rallied more than 18% on December 22 on news that Synopsys Inc. NASDAQ: SNPS was in discussions to acquire the company. According to a report ...

The shares of Synopsys have run up more than 70% this year as investors pile into companies that could benefit from a boom in the use of artificial intelligence. Photo: David Paul Morris/Bloomberg NewsSynopsys is in talks to acquire Ansys in a move that would create a new design-software giant and mark one of the first big merger deals of the new year. An acquisition of Ansys, which has a market value of nearly $30 billion, could be struck early in 2024, according to people familiar with the matter. The tal ...

ANSYS, Inc. (NASDAQ:ANSS) Q3 2023 Earnings Conference Call November 2, 2023 8:30 AM ET Company Participants Kelsey DeBriyn – Vice President-Investor Relations Ajei Gopal – President and Chief Executive Officer Nicole Anasenes – Chief Financial Officer Conference Call Participants Jay Vleeschhouwer – Griffin Securities Joe Vruwink – Baird Jason Celino – KeyBanc Capital Markets Ken Wong – Oppenheimer & Company Steven Tusa – JPMorgan Mike Richards – Stifel Tyler Radke – Citi Operator Ladies and gentlemen, than ...

Revenue Performance - Revenue declined by 2.9% (GAAP) and 3.1% (Non-GAAP) for the three months ended September 30, 2023, primarily due to reductions in subscription lease and perpetual license revenue[94] - Revenue increased by 6.8% (GAAP) and 6.3% (Non-GAAP) for the nine months ended September 30, 2023, driven by growth in maintenance and subscription lease license revenue[94] - In constant currency, revenue declined by 4.2% (GAAP) and 4.4% (Non-GAAP) for the three months ended September 30, 2023[98] - Total revenue for the nine months ended September 30, 2023, increased by 6.8%, with a 7.6% increase on a constant currency basis[106] - Revenue for the quarter ended September 30, 2023 decreased by 2.9% (or 4.2% in constant currency) compared to the same quarter in 2022, with total revenue at $458.8 million[114] - Total revenue for the nine months ended September 30, 2023 increased by 6.8% to $1.46 billion, or 7.6% in constant currency, driven by maintenance revenue growth of 10.5%[134] - Total GAAP revenue for the nine months ended September 30, 2023 was $1.46 billion, with a gross profit of $1.26 billion (86.3% gross margin)[155] Operating Income and Expenses - Operating income decreased by 43.4% (GAAP) and 19.5% (Non-GAAP) for the three months ended September 30, 2023, reflecting increased personnel costs[94] - In constant currency, operating income decreased by 45.4% (GAAP) and 21.0% (Non-GAAP) for the three months ended September 30, 2023[98] - Operating income decreased by 43.4% (or 45.4% in constant currency) to $69.8 million, primarily due to increased operating expenses[125] - Operating income for the nine months ended September 30, 2023 decreased by 11.9% to $293.1 million, primarily due to increased operating expenses[143] - Total non-GAAP operating income for the nine months ended September 30, 2023 was $539.70 million, with a 36.8% operating margin[155] Earnings and Profitability - Diluted earnings per share declined by 41.8% (GAAP) and 20.3% (Non-GAAP) for the three months ended September 30, 2023[94] - Net income for the three months ended September 30, 2023 decreased to $55.5 million from $96.0 million in the same period in 2022, with diluted earnings per share dropping to $0.64 from $1.10[131] - Net income for the nine months ended September 30, 2023 was $225.65 million, a decrease from $265.76 million in the same period in 2022[149] - Diluted earnings per share for the nine months ended September 30, 2023 was $2.58, down from $3.04 in the same period in 2022[149] - Non-GAAP net income for the nine months ended September 30, 2023 was $423.99 million, with non-GAAP diluted EPS of $4.85[155] Regional Revenue Performance - Americas region revenue grew by 14.0% for the nine months ended September 30, 2023, while Asia-Pacific revenue declined by 3.1%[106] - EMEA region revenue grew by 6.0% for the nine months ended September 30, 2023, but declined by 5.2% on a constant currency basis for the three months ended September 30, 2023[106] - International revenue accounted for 55.4% of total revenue in Q3 2023, down from 57.4% in Q3 2022[118] - International revenue accounted for 54.8% of total revenue for the nine months ended September 30, 2023, down from 57.3% in 2022[138] Subscription and License Revenue - Subscription lease licenses revenue decreased by 24.1% (or 25.0% in constant currency) to $103.6 million, driven by a $35.6 million decrease in multi-year licenses[114] - Perpetual license revenue decreased by 18.7% (or 19.8% in constant currency) to $58.8 million, primarily due to a 17.6% decrease in average deal size[114] - Maintenance revenue increased by 12.3% (or 10.7% in constant currency) to $278.1 million, driven by growth in maintenance associated with lease licenses[114] - Subscription lease license revenue increased by 6.5% to $386.5 million, while perpetual license revenue decreased by 5.8% to $200.0 million[134] - Maintenance revenue grew by $77.8 million, with $68.1 million attributed to lease licenses and $9.7 million to perpetual sales[134] Cash Flow and Financial Position - Cash, cash equivalents, and short-term investments increased by $24.9 million (4.1%) to $639.5 million as of September 30, 2023, compared to $614.6 million as of December 31, 2022[169] - Working capital increased by $38.8 million (4.5%) to $908.1 million as of September 30, 2023, compared to $869.3 million as of December 31, 2022[169] - Net cash provided by operating activities increased by $27.4 million (6.0%) to $484.4 million for the nine months ended September 30, 2023, compared to $457.0 million for the same period in 2022[173] - Net cash used in investing activities decreased by $38.5 million (14.9%) to $220.2 million for the nine months ended September 30, 2023, compared to $258.6 million for the same period in 2022[174] - Net cash used in financing activities increased by $34.6 million (17.5%) to $232.6 million for the nine months ended September 30, 2023, compared to $198.0 million for the same period in 2022[175] - The company repurchased 650,000 shares at an average price of $302.34 per share, totaling $196.5 million, during the nine months ended September 30, 2023[179] - The company has a $755.0 million unsecured term loan facility and a $500.0 million unsecured revolving loan facility under the 2022 Credit Agreement[176] - The company plans capital spending of $25.0 million to $30.0 million during fiscal year 2023, compared to $24.4 million spent in fiscal year 2022[174] - The company's operating lease commitments total $136.6 million, with $26.2 million due in the next twelve months[178] - The company's foreign cash, cash equivalents, and short-term investments increased by $24.8 million (8.6%) to $312.6 million as of September 30, 2023, compared to $287.8 million as of December 31, 2022[171] Currency and Interest Rate Impact - The U.S. Dollar was 3.1% weaker against foreign currencies in Q3 2023 compared to Q3 2022, impacting revenue[186] - The U.S. Dollar was 1.8% stronger against foreign currencies in the nine months ended September 30, 2023, compared to the same period in 2022[186] - Currency fluctuations resulted in a net adverse impact of $1.757 million on revenue from the Japanese Yen in Q3 2023[187] - Currency fluctuations resulted in a net adverse impact of $10.256 million on revenue from the Japanese Yen in the nine months ended September 30, 2023[187] - A hypothetical 10% strengthening in the U.S. Dollar would decrease revenue by $19.8 million in Q3 2023 and $63.6 million in the nine months ended September 30, 2023[188] - Interest income was $4.9 million in Q3 2023 and $12.4 million in the nine months ended September 30, 2023[189] - Interest expense was $12.3 million in Q3 2023 and $34.6 million in the nine months ended September 30, 2023[189] - Outstanding term loan borrowings as of September 30, 2023, were $755.0 million[190] - A hypothetical 100 basis point increase in interest rates would increase interest expense by $7.7 million over the next twelve months[190] - The Sustainability Rate Adjustment range is +/- 0.05% and will go into effect in Q1 2024 based on 2023 KPIs[190] Legal and Regulatory Risks - The company is subject to various claims, investigations, and legal proceedings that could have a significant adverse effect on financial statements and cause reputational damage[196] - The resolution of pending legal matters is not expected to have a material adverse effect on the company's financial position, results of operations, or cash flows[196] Market and Industry Trends - The engineering simulation software market is growing, driven by trends such as electrification, autonomy, connectivity, and sustainability[89] - The company continues to see strong demand for simulation solutions in high-tech, aerospace, and automotive industries, particularly for advanced chips, 5G/6G technology, and electric vehicles[104] Strategic Initiatives - The company's strategy focuses on expanding product offerings, increasing user accessibility, and driving more computations through larger and more complex simulations[87] - The company is investing in global sales and marketing organizations and infrastructure to drive growth, despite challenges in the competitive labor market[111] Non-GAAP Financial Measures - The company uses non-GAAP financial measures to evaluate performance, set targets, allocate resources, and determine variable compensation[158] - Non-GAAP financial measures exclude items like acquisition-related deferred revenue adjustments, stock-based compensation, and amortization of intangible assets[159][160] - Stock-based compensation expense for the nine months ended September 30, 2023 was $158.53 million, representing 10.7% of operating income[155] - Amortization of intangible assets from acquisitions for the nine months ended September 30, 2023 was $77.00 million, representing 5.3% of operating income[155] Tax and Compensation - The effective tax rate for the three months ended September 30, 2023 decreased to 11.3% from 18.7% in 2022, primarily due to reduced U.S. federal tax expense on foreign earnings and increased R&D credits[130] - The effective tax rate for the nine months ended September 30, 2023 was 15.6%, down from 16.7% in the same period in 2022, primarily due to increased benefits from R&D credits and foreign tax planning[148] Deferred Revenue and Backlog - Deferred revenue and backlog as of September 30, 2023 totaled $1.21 billion, with $370.4 million in deferred revenue and $835.2 million in backlog[120] Internal Controls and Compliance - No changes in internal control over financial reporting during the three months ended September 30, 2023 that materially affected the company's internal control[194] U.S. Export Restrictions - The U.S. export restrictions on sales to certain Chinese entities negatively impacted revenue and annual contract value (ACV) by $20.0 million in Q3 2023, with an expected headwind of $25.0 million for fiscal year 2023[96] Annual Contract Value (ACV) - ACV for the nine months ended September 30, 2023, was $1,345,305, representing a 10.8% increase compared to the same period in 2022[102] - Recurring ACV for the trailing twelve months ended September 30, 2023, was $1,804,517, a 15.7% increase from the previous year[103] Revenue Fluctuations and Risks - Revenue fluctuations are influenced by the timing and duration of multi-year subscription lease contracts, which can cause significant quarterly variations[106] - The company faces risks from macroeconomic conditions, including inflation, recessionary pressures, and foreign exchange volatility, which could impact future results[110] - Cybersecurity threats and data breaches are identified as potential risks that could affect the company's operations and reputation[110] Employee Count - The company employed 6,100 people as of September 30, 2023, up from 5,600 as of December 31, 2022[86]

ANSYS, Inc. (NASDAQ:ANSS) Q2 2023 Earnings Conference Call August 3, 2023 8:30 AM ET Company Participants Kelsey DeBriyn - VP, IR Ajei Gopal - President and CEO Nicole Anasenes - CFO Conference Call Participants Joe Vruwink - Baird Jay Vleeschhouwer - Griffin Securities Andrew Obin - Bank of America Tyler Radke - Citi Andrew DeGasperi - Berenberg Steve Tusa - JPMorgan Operator Ladies and gentlemen, thank you for standing by, and welcome to the ANSYS Second Quarter 2023 Earnings Conference Call. With us toda ...

Revenue Performance - Total revenue for the six months ended June 30, 2023, was $1,006,046 thousand, compared to $898,927 thousand for the same period in 2022, representing an increase of 11.9%[20] - Total revenue for the six months ended June 30, 2023 was $1,006.046 million, a 12% increase from $898.927 million in 2022[39] - Revenue growth for the three months ended June 30, 2023 was 4.8% GAAP and 4.4% non-GAAP, while for the six months ended June 30, 2023, it was 11.9% GAAP and 11.2% non-GAAP[103] - Revenue for the quarter ended June 30, 2023 increased by 4.8% (5.5% in constant currency) to $496.6 million compared to the same period in 2022[123] - Revenue for the six months ended June 30, 2023, increased by 11.9% to $1,006,046 thousand compared to the same period in 2022, with subscription lease license revenue growing by 24.9%[145] - Total GAAP revenue for the period was $473.85 million, with a gross profit of $411.36 million, representing a gross margin of 86.8%[167] - Non-GAAP revenue for the period was $475.89 million, with a non-GAAP gross profit of $433.10 million, representing a non-GAAP gross margin of 91.0%[167] - For the six months ended June 30, 2023, total GAAP revenue was $1.01 billion, with a gross profit of $870.05 million, representing a gross margin of 86.5%[169] - Non-GAAP revenue for the six months ended June 30, 2023 was $1.01 billion, with a non-GAAP gross profit of $916.41 million, representing a non-GAAP gross margin of 91.1%[169] Net Income and Earnings - Net income for the six months ended June 30, 2023, was $170,148 thousand, slightly higher than $169,788 thousand for the same period in 2022[20] - Net income for the six months ended June 30, 2023 was $98.8 million, compared to $70.988 million for the same period in 2022[30] - Net income for the six months ended June 30, 2023, was $170.1 million, with basic and diluted earnings per share of $1.96 and $1.95, respectively[57] - Net income for Q2 2023 decreased to $69,526 thousand, compared to $98,800 thousand in Q2 2022, with diluted earnings per share declining from $1.13 to $0.80[143] - Net income for the first six months of 2023 was $170.15 million, with diluted earnings per share of $1.95, compared to $169.79 million and $1.94 per share in the same period in 2022[162] - Total GAAP net income was $98.80 million, with diluted EPS of $1.13, while non-GAAP net income was $154.58 million, with non-GAAP diluted EPS of $1.77[167] - Total GAAP net income for the six months ended June 30, 2023 was $170.15 million, with diluted EPS of $1.95, while non-GAAP net income was $301.09 million, with non-GAAP diluted EPS of $3.45[169] Operating Income and Expenses - Operating income for the three months ended June 30, 2023 decreased by 25.3% GAAP and 6.8% non-GAAP, but increased by 6.8% GAAP and 12.1% non-GAAP for the six months ended June 30, 2023[103] - Operating income for Q2 2023 decreased by 25.3% to $95,624 thousand compared to Q2 2022, primarily due to increased operating expenses[136] - Operating income grew by 6.8% to $223.32 million in the first six months of 2023, with an operating margin of 22.2%, down from 23.3% in the same period in 2022[154] - Total GAAP operating income was $128.01 million, representing an operating margin of 27.0%, while non-GAAP operating income was $193.63 million, representing a non-GAAP operating margin of 40.7%[167] - Total GAAP operating income for the six months ended June 30, 2023 was $223.32 million, representing an operating margin of 22.2%, while non-GAAP operating income was $383.46 million, representing a non-GAAP operating margin of 38.1%[169] Cash Flow and Financial Position - Net cash provided by operating activities for the six months ended June 30, 2023, was $323,632 thousand, slightly lower than $329,880 thousand in the same period in 2022[26] - Net cash provided by operating activities decreased by $6.2 million (1.9%) to $323.6 million for the six months ended June 30, 2023[188] - Net cash used in investing activities decreased by $36.0 million (14.3%) to $215.6 million for the six months ended June 30, 2023[189] - Net cash used in financing activities increased by $36.4 million (17.5%) to $244.0 million for the six months ended June 30, 2023, primarily due to increased stock repurchases[190] - Cash, cash equivalents, and short-term investments decreased by $136.6 million (22.2%) from $614.6 million as of December 31, 2022, to $478.0 million as of June 30, 2023[184] - Domestic cash holdings decreased to 29.9% of total cash, while foreign cash holdings increased to 70.1% as of June 30, 2023[186] Acquisitions and Intangible Assets - The company completed the acquisition of Diakopto for $83.3 million and DYNAmore for $139.2 million in 2023 to expand its simulation portfolio[45] - Acquisition-related expenses for the six months ended June 30, 2023 were $4.3 million[46] - The fair value of consideration for the combined acquisitions in 2023 was $222.448 million, including $217.392 million in cash[47] - Developed software and core technologies acquired in 2023 have a weighted-average useful life of 5 years and were valued using the relief-from-royalty or multiperiod excess earnings method[51] - Trade names acquired in 2023 have a weighted-average useful life of 5 years and were valued using the relief-from-royalty method with a royalty rate of 1.0% to 2.0%[51] - The company completed acquisitions totaling $401.7 million in 2022, with a net purchase price of $390.8 million after deducting cash acquired[52] - Intangible assets subject to amortization totaled $883.7 million as of June 30, 2023, with estimated future amortization expenses of $53.3 million for the remainder of 2023 and $112.0 million for 2024[60] - Goodwill increased from $3.66 billion at the beginning of 2023 to $3.79 billion by June 30, 2023, due to acquisitions and currency translation adjustments[63] Foreign Currency Impact - Foreign currency translation adjustments for the six months ended June 30, 2023, were $21,287 thousand, compared to a loss of $70,735 thousand in the same period in 2022[22] - The company's revenue and operating income were negatively impacted by a stronger U.S. Dollar, with adverse impacts of $3.452 million on revenue and $1.740 million on operating income for the three months ended June 30, 2023[105] - The U.S. Dollar was 1.5% stronger against foreign currencies in Q2 2023 compared to Q2 2022, resulting in a $3.5 million adverse currency impact[123][124] - The impact of currency fluctuations resulted in a $17,343 thousand adverse effect on revenue for the six months ended June 30, 2023, with the Japanese Yen contributing the largest negative impact[147] - The U.S. Dollar was 4.0% stronger against foreign currencies for the six months ended June 30, 2023, resulting in a $17.3 million adverse impact on revenue[200][201] - A hypothetical 10% strengthening in the U.S. Dollar would decrease revenue by $43.8 million and operating income by $15.2 million for the six months ended June 30, 2023[202] Stock-Based Compensation and Share Repurchases - Stock-based compensation expense for the six months ended June 30, 2023, was $100,472 thousand, up 33.7% from $75,149 thousand in the same period in 2022[26] - The company repurchased 650,000 shares during the six months ended June 30, 2023 at an average price of $302.34 per share, for a total cost of $196.5 million[84] - The company repurchased 650,000 shares at an average price of $302.34 per share, totaling $196.5 million, during the six months ended June 30, 2023[194] - Stock-based compensation expense for the six months ended June 30, 2023 was $100.47 million, representing 10.0% of revenue[169] Legal and Regulatory Matters - The company is subject to various legal proceedings, including commercial disputes, labor matters, and intellectual property claims, which could have adverse financial or reputational impacts[210] - Resolution of pending legal matters is not expected to have a material adverse effect on the company's financial position, results of operations, or cash flows[210] Market and Strategic Outlook - The company's strategy of Pervasive Insights focuses on deepening the use of simulation in its core market, extending accessibility to a broader set of users, and driving growth through more products, users, and computations[96] - The engineering simulation software market is growing, driven by trends such as electrification, autonomy, connectivity, the industrial internet of things, and sustainability[98] - The company plans to continue its strategic and disciplined acquisition strategy to grow its business and extend simulation into other ecosystems and customer R&D workflows[99] Regional Revenue Performance - Revenue from the United States for the six months ended June 30, 2023 was $457.1 million, up from $384.8 million in the same period in 2022[88] - Americas region revenue grew by 12.5% (12.5% in constant currency) for the three months ended June 30, 2023[114] - Asia-Pacific region revenue decreased by 3.2% but grew by 0.3% in constant currency for the three months ended June 30, 2023[114] - International revenue accounted for 57.6% of total revenue in Q2 2023, down from 60.5% in Q2 2022[127] - International revenue accounted for 54.6% of total revenue in the first six months of 2023, down from 57.2% in the same period in 2022, while domestic revenue increased to 45.4% from 42.8%[150] Cost of Sales and Gross Profit - Total cost of sales for Q2 2023 was $68,340 thousand, representing 13.8% of revenue, an increase of 9.4% compared to Q2 2022[132] - Gross profit for Q2 2023 was $428,259 thousand, an increase of 4.1% compared to Q2 2022, driven by higher revenue partially offset by increased cost of sales[132] - Total cost of sales increased by 6.9% to $135.99 million in the first six months of 2023, driven by higher software license costs ($3.6 million increase in third-party royalties) and amortization expenses ($5.03 million increase due to newly acquired intangible assets)[152] - Gross profit increased by 12.7% to $870.05 million in the first six months of 2023, with a gross margin of 86.5%, up from 85.8% in the same period in 2022[152] Research and Development Expenses - Research and development expenses for the six months ended June 30, 2023, were $245,358 thousand, up 14.5% from $214,215 thousand in the same period in 2022[20] - Research and development expenses increased by 14.8% to $125,023 thousand in Q2 2023, driven by higher salaries and stock-based compensation[136] Tax and Interest Expenses - The effective tax rate for Q2 2023 decreased to 17.2% from 19.6% in Q2 2022, primarily due to lower U.S. federal tax expense on foreign earnings and increased R&D credits[142] - The effective tax rate increased to 16.9% in the first six months of 2023, up from 15.5% in the same period in 2022, primarily due to decreased benefits related to stock-based compensation[160] - Interest income increased significantly to $7.5 million in the first six months of 2023, compared to $0.8 million in the same period in 2022, driven by higher interest rates[156] - Interest income was $7.5 million, and interest expense was $22.3 million for the six months ended June 30, 2023[203] Lease and Debt Obligations - The company's lease liability cost for the six months ended June 30, 2023, was $14.1 million, with total lease costs reaching $16.7 million[72] - Operating cash flows from operating leases for the three months ended June 30, 2023 were $(6.9 million), compared to $(6.6 million) in the same period in 2022[73] - The weighted-average remaining lease term of operating leases as of June 30, 2023 was 6.6 years, down from 7.3 years as of June 30, 2022[73] - Total future lease payments as of June 30, 2023 were $142.7 million, with a present value of $128.5 million after discounting[74] - The company had $755.0 million in borrowings outstanding under the term loan facility as of June 30, 2023, with a carrying value of $753.7 million[79] - The weighted average interest rate under the 2022 Credit Agreement was 5.88% for the three months ended June 30, 2023, up from 1.90% in the same period in 2022[78] - Outstanding term loan borrowings of $755.0 million as of June 30, 2023, with variable interest rates based on Term SOFR or base rate plus applicable margin[204] - A hypothetical 100 basis points increase in interest rates would result in an additional $7.7 million in interest expense over the next twelve months[204] Employee and Workforce - The company employed 6,000 people as of June 30, 2023, up from 5,600 as of December 31, 2022[95] Financial Controls and Reporting - Disclosure controls and procedures evaluated as effective by the Chief Executive Officer and Chief Financial Officer[206] - Financial statements and other financial information fairly present the company's financial condition, results of operations, and cash flows[207] - No changes in internal control over financial reporting during the three months ended June 30, 2023, that materially affected financial reporting[208] Capital Spending and Market Risk - The company plans capital spending of $28.0 million to $38.0 million during fiscal year 2023, compared to $24.4 million spent in fiscal year 2022[189] - No material changes in market risk since December 31, 2022[204] Deferred Revenue and Backlog - Deferred revenue balance as of June 30, 2023 was $396.506 million, compared to $383.622 million in 2022[41] - Total revenue allocated to remaining performance obligations as of June 30, 2023 was $1,295.798 million, with $810.219 million expected to be recognized in the next 12 months[42] - Deferred revenue and backlog as of June 30, 2023, totaled $1,295,798 thousand, with $810,219 thousand classified as current and $485,579 thousand as long-term[129] Maintenance and Service Revenue - Maintenance and service revenue for the six months ended June 30, 2023, was $581,997 thousand, an increase of 9.3% from $532,501 thousand in the same period in 2022[20] - Maintenance revenue grew by 10.5% (11.1% in constant currency) to $273.7 million, driven by existing customer base[123] - Maintenance revenue for the six months ended June 30, 2023, increased by 9.6% to $542,285 thousand, driven by growth in maintenance associated with lease licenses[145] - Service revenue increased by 4.5% (4.3% in constant currency) to $18.0 million in Q2 2023[123] Software Licenses Revenue - Software licenses revenue for the six months ended June 30, 2023, was $424,049 thousand, up 15.7% from $366,426 thousand in the same period in 2022[20] - Perpetual license revenue decreased by 5.5% (4.9% in constant currency) to $69.9 million due to a 4.5% decrease in deal volume and 1.0% decrease in average deal size[123] - Subscription lease licenses revenue remained stable at $135.0 million, with a 1.1% increase in constant currency[123] Comprehensive Income and Other Financial Metrics - Comprehensive income for the six months ended June 30, 2023, was $191,435 thousand, significantly higher than $99,053 thousand in the same period in 2022[22] - The company's Annual Contract Value (ACV) for the three months ended June 30,

ANSYS, Inc. (NASDAQ:ANSS) Q1 2023 Earnings Conference Call May 4, 2023 8:30 AM ET Company Participants Alex Di Ruzza - Investor Relations Manager Ajei Gopal - President & Chief Executive Officer Nicole Anasenes - Chief Financial Officer & Senior Vice President-Finance\ Conference Call Participants Jay Vleeschhouwer - Griffin Securities Jason Celino - KeyBanc Capital Markets Steve Tusa - JPMorgan Ken Wong - Oppenheimer Mike Richards - Stifel Joe Vruwink - Baird Blair Abernethy - Rosenblatt Securities Josh Ti ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission File Number: 0-20853 ANSYS, Inc. | --- | --- | --- | |---------------------------------------------------------------------- ...