Bentley Systems Q2 revenue up 11.3%, EPS $0.22, CEO transition to Cumins

BENTLEY SYSTEMS INC

2024-Q2 EPS reported $0.44 revenue$668,100,000

Total revenues $330.3M (+11.3% YoY; +11.9% constant currency); subscriptions $297.4M (+14.7%).
GAAP EPS $0.22 (vs $0.15); adjusted EPS $0.31 (vs $0.24); operating margin 24.3% (vs 18.0%).
ARR $1,215.9M (+11% constant currency); net retention rate 108%.
Cash flow from operations $62.6M (vs $80.6M); six-month cash flow $267.6M (vs $256.8M).
CEO transition: Greg Bentley becomes Executive Chair; Nicholas Cumins promoted to CEO effective July 1.

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