secwatch.observer — SEC 8-K summary
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Issuer:     BENTLEY SYSTEMS INC (BSY)
CIK:        0001031308
Form:       8-K
Filed at:   2024-05-07T23:59:59+00:00
Accession:  0001031308-24-000003
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1031308/000103130824000003/0001031308-24-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1031308/000103130824000003/bsy-20240507.htm
  HTML page:      https://secwatch.observer/filing/0001031308-24-000003

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer