The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Bentley Systems, Incorporated (BSY) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.Bentley Systems, Incorporated is one of 607 individual stocks in the Computer and Technology sector. Collectively, these compani ...

Following my coverage on Bentley Systems (NASDAQ: BSY ), which I recommended a buy rating due to valuation having turned cheap, and I expected an upgrade when growth accelerates, this post is to provide an updateI take a fundamentals-based approach to value investing.I disagree with the common misconception held by many investors that low multiple stocks must be cheap. I look for companies that offer the best long-term durability at the most affordable prices. Consequently, I have a propensity to be drawn t ...

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, 2025 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: 001-39548 ___________________________________ BENTLEY SYSTE ...

Bentley Systems First Quarter 2025 Results © 2025 Bentley Systems, Incorporated. All rights reserved. May 7, 2025 1 Agenda Perspectives from the Executive Chair 01 © 2025 Bentley Systems, Incorporated. All rights reserved. 2 Perspectives from the CEO 02 Perspectives from the CFO 03 Appendix 04 Disclaimer This presentation includes forward-looking statements regarding the future results of operations and financial position, business strategy, and plans and objectives for future operations of Bentley Systems, ...

Bentley Systems, Incorporated (BSY) came out with quarterly earnings of $0.35 per share, beating the Zacks Consensus Estimate of $0.30 per share. This compares to earnings of $0.31 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 16.67%. A quarter ago, it was expected that this company would post earnings of $0.23 per share when it actually produced earnings of $0.21, delivering a surprise of -8.70%. Over the last four quarter ...

Financial Data and Key Metrics Changes - Total revenues for Q1 2025 were $371 million, up 10% year over year, and 11% on a constant currency basis [29] - Subscription revenues grew 11% year over year, now representing 92% of total revenues, up one percentage point from the same period last year [29][30] - Last twelve months recurring revenues increased by 13% year over year, representing 92% of total revenues, up two percentage points year over year [31] - GAAP operating income was $115 million for Q1, with adjusted operating income less stock-based compensation at $126 million, up 12% year over year [32][34] - Free cash flow for the quarter was $216 million, up 7% year over year [35] Business Line Data and Key Metrics Changes - The ARR from infrastructure owner operators has reached parity with ARR from project supply chain engineering and construction contractors [8] - Professional services revenues declined 18% year over year, now representing 5% of total revenues [30] - The E365 program continues to be a growth driver, contributing 300 basis points of ARR growth from new logos, mainly from SMB [18] Market Data and Key Metrics Changes - ARR growth was 12% year over year, with 12.5% excluding the impact of China [17] - Growth was solid across the Americas, particularly in Latin America, while the US market outlook remains bright [21] - In Europe, significant investments are expected from the EU's Rearm Europe Plan and Germany's infrastructure fund [24][94] Company Strategy and Development Direction - The company is focusing on enhancing its business mix across infrastructure sectors, life cycles, and geographies to improve resilience against macro vulnerabilities [4][6] - The introduction of new platforms like Sequen EVO aims to unlock geoscience data potential, particularly in the mining sector [20] - The company is leveraging AI to improve productivity and efficiency in engineering tasks, such as automating drawing production [110][112] Management's Comments on Operating Environment and Future Outlook - Management remains confident in delivering solid results despite global macro uncertainties, citing strong demand for infrastructure and a critical shortage of engineers [16][17] - The company anticipates that permitting reforms will positively impact its business, particularly in the PowerLine Systems and mining sectors [76][78] - The outlook for 2025 remains positive, with expectations for continued growth driven by infrastructure investments [39] Other Important Information - The company has halved its exposure to China, now representing only about 2.5% of revenues, with growth compensating in other regions [13] - The partnership with Google aims to enhance asset analytics offerings, leveraging Google Street View data for improved planning and operations [25][66] Q&A Session Summary Question: How does the business skew towards state versus federal infrastructure activity? - Management indicated a slight dependence on federal funding, particularly for highway funds, which are matched by states [44][45] Question: Are there signs of macro pressure in sensitive areas like commercial facilities? - Management noted that commercial facilities are sensitive to demand and interest rates, but there is positive sentiment in industrial sectors due to manufacturing initiatives [53][55] Question: What is the expected linearity of ARR growth through the year? - Management expects seasonal growth, with Q2 typically higher and Q3 being the seasonal low due to timing of renewals and acquisitions [62] Question: How is the partnership with Google progressing? - The partnership is advancing well, with Google data being integrated into asset analytics, enhancing the company's offerings [66][68] Question: What is the outlook for European customers amid defense and infrastructure stimulus? - Management highlighted solid growth in Europe, driven by significant investments at both the European and country levels, particularly in defense and infrastructure [92][94]

Exhibit 99.1 Bentley Systems Announces First Quarter 2025 Results EXTON, PA – May 7, 2025 – Bentley Systems, Incorporated (Nasdaq: BSY), the infrastructure engineering software company, today announced results for the quarter ended March 31, 2025. First Quarter 2025 Results • Total revenues were $370.5 million, up 9.7% or 10.9% on a constant currency basis, year-over-year; • Subscriptions revenues were $342.3 million, up 11.5% or 12.7% on a constant currency basis, year-over-year; • Annualized Recurring Rev ...

The upcoming report from Bentley Systems, Incorporated (BSY) is expected to reveal quarterly earnings of $0.30 per share, indicating a decline of 3.2% compared to the year-ago period. Analysts forecast revenues of $364.69 million, representing an increase of 8% year over year.Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Prior to a company's earnings an ...

He also leads the investing group IPO Edge , which offers actionable information on growth stocks through first-look IPO filings, previews on upcoming IPOs, an IPO calendar for tracking what’s on the horizon, a database of U.S. IPOs, and a guide to IPO investing to walk you through the entire IPO lifecycle - from filing to listing to quiet period and lockup expiration dates.Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to init ...

Revenue Performance - Total revenues for the year ended December 31, 2024, were $1,353,095, representing a 10.1% increase compared to the prior year[188]. - Subscription revenues increased to $1,223,362 for the year ended December 31, 2024, up 13.2% from the previous year[188]. - Annual Recurring Revenue (ARR) reached $1,283,256 as of December 31, 2024, reflecting a constant currency ARR growth rate of 12%[188]. - Revenues from the Americas increased to $717,002 for the year ended December 31, 2024, a growth of 10.2% compared to the prior year[199]. - EMEA revenues rose to $388,384 for the year ended December 31, 2024, reflecting a 9.9% increase from the previous year[199]. - APAC revenues reached $247,709 for the year ended December 31, 2024, marking a 10.6% increase compared to the prior year[199]. - Recurring revenues represented 91% of total revenues for the twelve months ended December 31, 2024[248]. Operating Income and Expenses - Operating income for the year ended December 31, 2024, was $302,150, compared to $230,542 for the prior year[188]. - Cash flows from operations amounted to $435,292 for the year ended December 31, 2024, compared to $416,696 for the prior year[188]. - Total cost of revenues decreased by 3.1% to $257,767 million compared to $266,083 million in 2023, with a constant currency growth of 12.3%[207]. - Cost of subscriptions and licenses increased by 2.3% to $173,340 million in 2024, primarily due to a rise in cloud-related costs of $10,859 million[209]. - Research and development expenses rose by 2.4% to $281,247 million in 2024, driven by an increase in headcount-related costs of $9,513 million[215]. - Selling and marketing expenses increased by 13.7% to $255,177 million in 2024, mainly due to higher headcount-related costs of $23,408 million and promotional costs of $5,449 million[218]. - General and administrative expenses grew by 16.4% to $210,374 million in 2024, influenced by an increase in headcount-related costs of $11,048 million and higher charitable contributions of $4,143 million[220]. Net Income and Taxation - Income before income taxes for 2024 was $293,055 million, significantly higher than $183,527 million in 2023[229]. - The effective tax rate for 2024 was 20.0%, up from a negative 78.0% in 2023, primarily due to a discrete tax benefit recognized from internal legal entity restructuring[229]. Cash Flow and Financing - Total cash and cash equivalents decreased to $64,009 in 2024 from $68,412 in 2023[261]. - Net cash provided by operating activities for the year ended December 31, 2024, was $435,292, an increase of $18,596 compared to $416,696 in 2023[265]. - Net cash used in investing activities increased to $(143,267) in 2024, primarily due to higher acquisition-related payments of $104,384[267]. - Net cash used in financing activities decreased to $(289,850) in 2024, with lower net paydowns of credit facilities by $111,856[268]. - Long-term debt as of December 31, 2024, was $1,388,088, down from $1,518,403 in 2023[269]. - The company entered into a new Credit Facility on October 18, 2024, providing a $1,300,000 revolving credit facility[270]. - As of December 31, 2024, the company had $1,164,535 available under the Credit Facility and was in compliance with all covenants[271]. Shareholder Returns - The company repurchased 1,292,733 shares for $64,359 under the Stock Repurchase Program during the year ended December 31, 2024[274]. - Quarterly dividends increased to $0.06 per share in 2024 from $0.05 per share in 2023[277]. Market and Currency Exposure - Approximately 58% of total revenues for the year ended December 31, 2024, were derived from outside the U.S., with 34% denominated in currencies other than the U.S. dollar[295]. - A 10% strengthening of the U.S. dollar against other currencies would have lowered the 2024 annual operating income by approximately $1.5 million[295]. - Approximately 66% of total revenues in 2024 were denominated in U.S. dollars, with the remaining in euros, British pounds, Canadian dollars, and other currencies[295]. Future Outlook and Strategic Focus - The company anticipates continued substantial investments in research and development to leverage opportunities in the infrastructure engineering software market[214]. - The company plans to continue focusing on account retention and growth in recurring revenues through new accounts and acquisitions[241].