Bentley(US:BSY)2024-02-26 16:00Financial Performance - Adjusted operating income including stock-based compensation expense was $324,677 for the year ended December 31, 2023, compared to $273,929 for the prior year, representing a growth of approximately 18.5%[120] - Cash flow from operations was $416,696 for the year ended December 31, 2023, compared to $274,324 for the prior year, indicating an increase of approximately 52%[120] Revenue Sources - Over 70% of total revenues for the years ended December 31, 2023, 2022, and 2021 were generated from organizations that have been accounts for over ten years[122] - Approximately 58% of total revenues in 2023 were derived from outside the U.S., with 35% of revenues denominated in foreign currencies[134] Currency Impact - A 10% strengthening of the U.S. dollar against other currencies would have lowered the 2023 annual operating income by approximately $1.5 million[134] Cash Position - Cash and cash equivalents were $68.4 million as of December 31, 2023, down from $71.7 million in 2022[442] Workforce - The company has approximately 5,200 full-time colleagues globally, with 2,000 in the Americas, 1,500 in EMEA, and 1,700 in APAC[117] Acquisitions - The company has strategically acquired and integrated numerous software assets and businesses since its founding, although future acquisition opportunities may be limited[129] Dividends - The company declared a $0.06 per share dividend for the first quarter of 2024, payable on March 28, 2024[449] Internal Controls - The company’s internal control over financial reporting was assessed as effective as of December 31, 2023[446]