---
schema_version: "secwatch.filing_event.v1"
accession: "0001031308-24-000003"
form_type: "8-K"
ticker: "BSY"
cik: "0001031308"
company_name: "BENTLEY SYSTEMS INC"
filed_at: "2024-05-07T23:59:59+00:00"
generated_at: "2026-06-02T15:28:53.608713+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Bentley Systems Q1 revenue $337.8M, up 7.4% YoY; CEO transition to Cumins on July 1

## Summary
- Total revenues $337.8M (+7.4% YoY); subscription rev $307.1M (+10.5%); ARR $1,186.5M (+11% constant currency).
- GAAP EPS $0.22 vs $0.14; adjusted EPS $0.31 vs $0.25; operating cash flow $205.0M vs $176.2M.
- CEO Greg Bentley becomes Executive Chair; COO Nicholas Cumins to succeed as CEO on July 1, 2024.
- Full-year 2024 outlook reaffirmed; profitability and cash flow ahead of expected pace.

## SEC filing metadata
- accession: 0001031308-24-000003
- form_type: 8-K
- ticker: BSY
- cik: 0001031308
- company_name: BENTLEY SYSTEMS INC
- filed_at: 2024-05-07T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1031308/000103130824000003/0001031308-24-000003-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1031308/000103130824000003/bsy-20240507.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001031308-24-000003
- JSON: https://secwatch.observer/filing/0001031308-24-000003.json
- Plain text: https://secwatch.observer/filing/0001031308-24-000003.txt

## Key facts
- Earnings Releases
  BENTLEY SYSTEMS INC reported first quarter ended March 31, 2024 results: revenue $337.8 million, EPS $0.22.
  - Period: first quarter ended March 31, 2024
  - Revenue: $337.8 million
  - EPS: $0.22
  - Result: reported results
  source text: BSY), the infrastructure engineering software company, today announced results for its first quarter ended March 31, 2024. First Quarter 2024 Results • Total revenues were $337.8 million, up 7.4% or 7.2% on a constant currency basis, year-over-year; • Subscriptions revenues were $307.1 million, up 10.5% or 10.3% on a constant currency basis, year-over-year; •
  evidence_url: https://www.sec.gov/Archives/edgar/data/1031308/000103130824000003/0001031308-24-000003-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.