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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________ Title of each class Trading Symbol Name of each exchange on which registered Class B Common Stock, $0.01 Par Value BSY The Nasdaq Stock Market LLC 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 September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF TH ...

Core Viewpoint - Bentley Motors is delaying its target to exclusively offer all-electric vehicles until at least 2035 due to changing market conditions and low demand from current customers [2][3]. Group 1: Company Strategy - Bentley has an ambition to build only fully electric cars from 2035, but this timeline has been adjusted in response to market dynamics [2]. - The company plans to continue focusing on plug-in hybrid electric vehicles until the revised target date [1]. Group 2: Market Demand and Legislation - Current demand for electric vehicles (EVs) from Bentley's existing customer base is low, prompting the need for a revised strategy [2][3]. - Legislation and competition are significant factors driving the need for electrification in the automotive industry [3]. Group 3: Historical Context - Bentley initially announced plans to exclusively offer all-electric vehicles by the end of this decade in 2020, but these plans have faced delays [3]. - The former CEO indicated that the timeline would be pushed back by a few years without specifying a new timeframe [3].

For the quarter ended September 2024, Bentley Systems, Incorporated (BSY) reported revenue of $335.17 million, up 9.3% over the same period last year. EPS came in at $0.24, compared to $0.22 in the year-ago quarter.The reported revenue represents a surprise of -1.40% over the Zacks Consensus Estimate of $339.93 million. With the consensus EPS estimate being $0.25, the EPS surprise was -4.00%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they comp ...

Group 1: Earnings Performance - Bentley Systems reported quarterly earnings of $0.24 per share, missing the Zacks Consensus Estimate of $0.25 per share, but showing an increase from $0.22 per share a year ago, representing an earnings surprise of -4% [1] - The company posted revenues of $335.17 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 1.40%, compared to year-ago revenues of $306.61 million [2] - Over the last four quarters, Bentley Systems has surpassed consensus EPS estimates three times and topped consensus revenue estimates two times [2] Group 2: Stock Performance and Outlook - Bentley Systems shares have lost about 4.3% since the beginning of the year, while the S&P 500 has gained 24.3% [3] - The company's earnings outlook will be crucial for future stock movements, with current consensus EPS estimates at $0.25 for the coming quarter and $1.10 for the current fiscal year [4][7] - The estimate revisions trend for Bentley Systems is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Group 3: Industry Context - The Internet - Software industry, to which Bentley Systems belongs, is currently in the top 25% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

Exhibit 99.1 Bentley Systems Announces Third Quarter 2024 Results EXTON, PA – November 7, 2024 – Bentley Systems, Incorporated (Nasdaq: BSY), the infrastructure engineering software company, today announced results for the quarter ended September 30, 2024. Third Quarter 2024 Results • Total revenues were $335.2 million, up 9.3% or 9.1% on a constant currency basis, year-over-year; • Subscriptions revenues were $303.2 million, up 12.0% or 11.8% on a constant currency basis, year-over-year; • Annualized Recur ...

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The Internet Software and Services space is gathering momentum owing to robust IT spending on solutions that support hybrid operating environments. The level of technology adoption by businesses and the proliferation of connected consumer devices, which might help people connect and do business online, is also accelerating the industry's growth. Outstanding penetration of mobile devices among users makes sense for businesses to invest heavily in webbased infrastructure, applications and security software. W ...

Investors might want to bet on Bentley Systems, Incorporated (BSY) , as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices. A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and fol ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________ Title of each class Trading Symbol Name of each exchange on which registered Class B Common Stock, $0.01 Par Value BSY The Nasdaq Stock Market LLC 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 June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SEC ...