Bentley Systems Q4 Earnings Call Highlights

On profitability, Andre reported GAAP operating income of $79 million in Q4 and $363 million for the year. Adjusted operating income less stock-based compensation (SBC) was $94 million in Q4, representing a 24.1% margin, and $430 million for the year, up 16% with a 28.6% margin. He said the full-year result reflected 110 basis points of margin improvement, consistent with the company’s outlook.Other revenue categories were mixed. Andre said perpetual license revenue was essentially flat for both the quarter ...