earnings
confidence high
sentiment positive
materiality 0.70
Bentley Systems Q2 revenues $296.7M (+10.6% YoY); ARR grows 13% constant currency
BENTLEY SYSTEMS INC
2023-Q2 EPS reported
$0.29
revenue$611,160,000
- Total revenues $296.7M, up 10.6% YoY; subscriptions $259.2M, up 11.7% YoY.
- ARR $1,105.9M as of June 30, 2023, constant currency growth 13% YoY; net retention rate 110%.
- GAAP diluted EPS $0.15 vs $0.17; Adjusted EPS $0.24 vs $0.23. Cash flow from operations $80.6M vs $67.0M.
- Narrowing FY2023 ARR growth outlook to 12-13% constant currency; maintaining other financial outlook.
- First half 2023: paid $29M dividends, repurchased $51M shares (dilution offset), repaid $147M net borrowings.