Here's What Key Metrics Tell Us About Bentley Systems (BSY) Q3 Earnings

Core Insights - Bentley Systems, Incorporated (BSY) reported revenue of $335.17 million for the quarter ended September 2024, reflecting a year-over-year growth of 9.3% [1] - The earnings per share (EPS) for the quarter was $0.24, an increase from $0.22 in the same quarter last year [1] - The reported revenue was below the Zacks Consensus Estimate of $339.93 million by 1.40%, and the EPS fell short of the consensus estimate of $0.25 by 4.00% [1] Revenue Performance - Total revenue growth year-over-year was 9.3%, compared to the average estimate of 10.8% from three analysts [3] - Annualized Recurring Revenues (ARR) reached $1.27 billion, slightly above the two-analyst average estimate of $1.25 billion [3] - Subscription revenue grew by 12% year-over-year, but was below the average estimate of 12.9% from two analysts [3] - Total revenues from subscriptions and licenses were reported at $314.51 million, compared to the three-analyst average estimate of $316.17 million [3] - Service revenues were $20.66 million, which is a decline of 13.8% year-over-year and below the average estimate of $23.54 million from three analysts [3] - Subscription revenues amounted to $303.24 million, slightly below the two-analyst average estimate of $305.61 million, with a year-over-year increase of 12% [3] - Revenues from perpetual licenses were $11.27 million, exceeding the two-analyst average estimate of $11 million, but reflecting a year-over-year decline of 5.2% [3] Stock Performance - Over the past month, shares of Bentley Systems have returned +2%, while the Zacks S&P 500 composite has seen a +3.2% change [4] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [4]