Ansys Announces Q4 and FY 2024 Financial Results

Core Insights - ANSYS, Inc. reported Q4 2024 revenue of $882.2 million, a 10% increase in reported currency and 11% in constant currency compared to Q4 2023 [2] - For FY 2024, revenue grew by 12% in reported currency and 13% in constant currency compared to FY 2023 [2] - The company reported diluted earnings per share of $3.21 (GAAP) and $4.44 (non-GAAP) for Q4 2024, compared to $3.14 and $3.94 for Q4 2023 [2][6] - Annual Contract Value (ACV) for Q4 2024 was $1.1 billion, contributing 43% to the full year 2024 ACV of $2.56 billion, with an expected double-digit growth for FY 2025 [2][6] Financial Performance - Q4 2024 GAAP operating profit margin was 40.3%, while non-GAAP operating profit margin was 53.3% [6] - FY 2024 GAAP diluted earnings per share increased to $6.55 from $5.73 in FY 2023, while non-GAAP diluted earnings per share rose to $10.91 from $8.80 [2][6] - Operating cash flows for Q4 2024 were $258.0 million, with unlevered operating cash flows at $266.8 million [6] Growth Metrics - The company achieved ACV growth of 15% in Q4 2024 and 11% for FY 2024 in reported currency, or 16% and 13% in constant currency, respectively [2][6] - Cumulative unlevered operating cash flows from FY 2022 to FY 2024 reached $2.2 billion, with FY 2024 unlevered operating cash flows of $834.6 million [10] Acquisition Update - ANSYS entered into a definitive agreement with Synopsys, Inc. for acquisition, with regulatory reviews ongoing in various jurisdictions [3] - The transaction is expected to close in the first half of 2025, pending regulatory approvals [3] Revenue Breakdown - Q4 2024 revenue by license type included $441.1 million from subscription leases (50% of total revenue), $102.3 million from perpetual licenses, and $319.4 million from maintenance [15] - For FY 2024, subscription lease revenue was $948.8 million, accounting for 37.3% of total revenue [15] Geographic Revenue Distribution - In Q4 2024, revenue from the Americas was $457.8 million (51.9% of total), while Germany contributed $98.5 million (11.2%) [16] - For FY 2024, the Americas accounted for 51.0% of total revenue, with a significant increase of 17.3% compared to FY 2023 [17]