Asia Value & Moat Stocks is a research service for value investors seeking Asia-listed stocks with a huge gap between price and intrinsic value, leaning towards deep value balance sheet bargains (i.e. buying assets at a discount e.g. net cash stocks, net-nets, low P/B stocks, sum-of-the-parts discounts) and wide moat stocks (i.e. buying earnings power at a discount in great companies like "Magic Formula" stocks, high-quality businesses, hidden champions and wide moat compounders). Sign up here to get starte ...

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 ...

Financial Data and Key Metrics Changes - Total revenues for Q2 2024 were $330 million, an increase of 11% year-over-year and 12% in constant currency [26] - Subscription revenues grew 15% year-over-year, representing 90% of total revenues, up from 87% in Q2 2023 [26] - Adjusted operating income with stock-based compensation was $95 million for the quarter, up 30% year-over-year, with a margin of 28.8%, up 410 basis points [30] - Operating cash flow was $63 million for the quarter and $268 million for the first half of 2024 [32] Business Line Data and Key Metrics Changes - The E365 program remains a major growth driver, with continued conversions from the select subscription program [18] - Perpetual license revenues for the quarter were $11 million, down $1 million year-over-year, making up only 3% of total revenues [27] - Professional services revenues declined by $4 million, down 15% year-over-year, primarily due to delays in IBM Maximo-related implementation [27] Market Data and Key Metrics Changes - ARR growth was 11% year-over-year, with contributions from programmatic acquisitions becoming negligible [18] - China now represents only 2.5% of total ARR, down from 3% a year ago, reflecting ongoing economic challenges [28] - The Americas was the fastest-growing region, driven by strong infrastructure spending, particularly in North America [20] Company Strategy and Development Direction - The company is focusing on AI as a major driver for future growth, particularly in asset analytics and infrastructure lifecycle management [15][16] - The transition to a new CEO is seen as an opportunity to perpetuate a growth mindset culture and ensure long-term success [10][12] - The company aims to leverage its digital twin technology and AI capabilities to enhance productivity and efficiency in infrastructure projects [16][49] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong demand for infrastructure services, despite challenges in resource availability [38] - The sentiment among infrastructure engineering organizations is positive, with concerns primarily around capacity rather than demand [37] - The company expects ARR growth to accelerate in the second half of the year, particularly due to E365 renewal timing [35] Other Important Information - The company has reduced its outstanding senior debt to $85 million at the end of the quarter, reflecting strong cash flow generation [33] - The board finalized a new CEO compensation plan designed to align long-term incentives with company performance [10][11] Q&A Session Summary Question: Confidence around E365 renewals in the second half - Management noted that sentiment among infrastructure engineering organizations is focused on capacity, not demand, indicating strong backlogs and visibility [37][38] Question: Opportunities for Bentley to grow at enterprise accounts - The extended timeline for project starts due to IIJA funding is seen as beneficial for engaging with enterprise accounts [40][42] Question: Update on SMB retention rates - Retention in the SMB segment is high, with existing accounts using software beyond their subscription terms [43] Question: Impact of AI on traditional portfolio - The company is seeing traction with AI-based asset analytics solutions, which are expected to complement existing applications [45][46] Question: Status of Phase 2 of product development - Phase 2 involves leveraging iTwin capabilities across existing applications, with ongoing development of next-generation engineering applications [48][49] Question: Growth of Power Line Systems (PLS) fundamentals - Strong growth in PLS is noted, with expectations for further expansion as permitting reforms take effect [51][52] Question: ARR growth guidance for the year - The company is optimistic about reaching the high end of its ARR growth range, driven by asset analytics and E365 renewals [54][56]

Bentley Systems, Incorporated (BSY) reported $330.34 million in revenue for the quarter ended June 2024, representing a year-over-year increase of 11.3%. EPS of $0.31 for the same period compares to $0.24 a year ago. The reported revenue represents a surprise of +1.62% over the Zacks Consensus Estimate of $325.08 million. With the consensus EPS estimate being $0.24, the EPS surprise was +29.17%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expe ...

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 ...

Core Viewpoint - Kaskela Law LLC is investigating Bentley Systems, Inc. on behalf of the company's shareholders to determine potential violations of securities laws or breaches of fiduciary duties by the company's officers and directors [3]. Group 1: Investigation Details - The investigation aims to assess whether Bentley and its leadership acted inappropriately regarding recent corporate actions that may have affected investors [3]. - Shareholders of Bentley are encouraged to reach out to Kaskela Law LLC for more information about their legal rights and options [2]. Group 2: Current Stock Performance - Bentley's common stock is currently trading significantly below its 52-week high of $57.19 per share, indicating potential concerns among investors [7].