Bentley Systems, Incorporated (BSY) came out with quarterly earnings of $0.31 per share, beating the Zacks Consensus Estimate of $0.24 per share. This compares to earnings of $0.24 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 29.17%. A quarter ago, it was expected that this company would post earnings of $0.26 per share when it actually produced earnings of $0.31, delivering a surprise of 19.23%. Over the last four quarter ...

Financial Performance - Total revenues for Q2 2024 were $330.3 million, an increase of 11.3% year-over-year, and 11.9% on a constant currency basis[2] - Subscription revenues reached $297.4 million, up 14.7% year-over-year, and 15.3% on a constant currency basis[2] - Annualized Recurring Revenues (ARR) as of June 30, 2024, was $1,215.9 million, reflecting an 11% growth rate on a constant currency basis compared to the previous year[2] - The company reported a total revenue of $668.1 million for the first half of 2024, a 9.3% increase year-over-year[3] - Total revenues for the three months ended June 30, 2024, were $330,337,000, an increase of 11.3% compared to $296,749,000 for the same period in 2023[13] - Subscription revenues increased to $297,444,000 for the three months ended June 30, 2024, up 14.7% from $259,243,000 in the same period of 2023[13] - Net income for the three months ended June 30, 2024, was $72,046,000, a 48.0% increase compared to $48,685,000 for the same period in 2023[13] - Adjusted net income for Q2 2024 was $101,875,000, compared to $78,734,000 in Q2 2023, reflecting a 29.4% growth[16] - Total revenues for Q2 2024 reached $330,337,000, a 11.3% increase from $296,749,000 in Q2 2023[18] - Subscription revenues for Q2 2024 were $297,444,000, up from $259,243,000 in Q2 2023, indicating a 14.7% increase[18] Profitability Metrics - Operating income margin improved to 24.3%, up from 18.0% year-over-year[2] - Adjusted operating income margin, including stock-based compensation, was 28.8%, compared to 24.7% for the same period last year[2] - Net income per diluted share increased to $0.22, up from $0.15 year-over-year[2] - Adjusted operating income with stock-based compensation for the three months ended June 30, 2024, was $95,293,000, up 30.1% from $73,257,000 in the same period of 2023[15] - Adjusted EBITDA for Q2 2024 was $121,610,000, compared to $95,549,000 in Q2 2023, marking a 27.3% rise[17] Cash Flow and Expenses - Cash flows from operations were $62.6 million, down from $80.6 million in the same period last year[2] - Cash flows from operating activities for the six months ended June 30, 2024, were $267,555,000, compared to $256,819,000 for the same period in 2023[14] - Cash flow from operations for Q2 2024 was $62,586,000, down from $80,596,000 in Q2 2023, a decrease of 22.4%[17] - The company reported a decrease in cash and cash equivalents to $51,278,000 at the end of June 2024, down from $82,716,000 at the end of June 2023[14] - The company incurred total operating expenses of $186,967,000 for the three months ended June 30, 2024, compared to $177,018,000 for the same period in 2023[13] - Research and development expenses for the three months ended June 30, 2024, were $65,709,000, a decrease from $70,117,000 in the same period of 2023[13] - The company reported cash acquisition expenses of $1,935,000 for Q2 2024, down from $4,237,000 in Q2 2023, a reduction of 54.4%[17] Leadership Changes - The transition of Greg Bentley to Executive Chair and Nicholas Cumins to CEO is expected to enhance leadership and strategic direction[6] Share Metrics - The weighted average shares outstanding for diluted earnings per share were 333,780,984 for the three months ended June 30, 2024, compared to 332,352,725 for the same period in 2023[13] - The adjusted weighted average shares, diluted, for Q2 2024 were 333,780,984, compared to 332,352,725 in Q2 2023[16] Future Outlook - The company anticipates continued growth in subscription revenues and overall revenues for the upcoming quarters[18]

Wall Street analysts expect Bentley Systems, Incorporated (BSY) to post quarterly earnings of $0.24 per share in its upcoming report, which indicates no change from the year-ago quarter. Revenues are expected to be $325.08 million, up 9.6% from the year-ago quarter. Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe. Ahead of a company's ...

PHILADELPHIA, June 12, 2024 /PRNewswire/ -- Kaskela Law LLC announces that it is investigating Bentley Systems, Inc. (NASDAQ: BSY) ("Bentley") on behalf of the company's shareholders. Bentley shareholders are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (484) 229 – 0750 or (888) 715 – 1740 for additional information about this investigation and their legal rights and options, or by clicking on the following link (or if necessary, copying and pasting the link into ...

A downtrend has been apparent in Bentley Systems, Incorporated (BSY) lately with too much selling pressure. The stock has declined 7.2% over the past four weeks. However, given the fact that it is now in oversold territory and Wall Street analysts are majorly in agreement about the company's ability to report better earnings than they predicted earlier, the stock could be due for a turnaround. Here is How to Spot Oversold Stocks We use Relative Strength Index (RSI), one of the most commonly used technical i ...

Most Powerful Force Impacting Stock Prices The change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings estimates to calculate the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply res ...

FORM 10-Q ___________________________________ BENTLEY SYSTEMS, INCORPORATED (Exact name of registrant as specified in its charter) ___________________________________ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. ...

Bentley Systems, Incorporated (NASDAQ:BSY) Q1 2024 Earnings Conference Call May 7, 2024 8:15 AM ET Company Participants Eric Boyer - IR Greg Bentley - CEO Nicholas Cumins - COO Werner Andre - CFO Conference Call Participants Matthew Hedberg - RBC Capital Markets Joseph Vruwink - Robert W. Baird Jason Celino - KeyBanc Capital Markets Sitikantha Panigrahi - Mizuho Securities Clarke Jeffries - Piper Sandler Kristen Owen - Oppenheimer & Co. Jay Vleeschhouwer - Griffin Securities Michael Funk - Bank of America S ...

For the quarter ended March 2024, Bentley Systems, Incorporated (BSY) reported revenue of $337.76 million, up 7.4% over the same period last year. EPS came in at $0.31, compared to $0.25 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $335 million, representing a surprise of +0.83%. The company delivered an EPS surprise of +19.23%, with the consensus EPS estimate being $0.26.While investors closely watch year-over-year changes in headline numbers -- revenue and earni ...

24Q1 Results May 7, 2024 | © 2024 Bentley Systems, Incorporated 2 © 2024 Bentley Systems, Incorporated | The forward-looking statements made in this presentation are made as of May 7, 2024. If this presentation is reviewed after May 7, 2024, even if made available by us, on our website or otherwise, it may not contain current or accurate information. We disclaim any obligation to update or revise any forward-looking statement based on new information, future events, or otherwise. Please refer to the Appendi ...