---
schema_version: "secwatch.filing_event.v1"
accession: "0001031308-25-000012"
form_type: "8-K"
ticker: "BSY"
cik: "0001031308"
company_name: "BENTLEY SYSTEMS INC"
filed_at: "2025-11-05T23:59:59+00:00"
generated_at: "2026-05-17T00:09:18.741626+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Bentley Systems Q3 2025 revenue up 12% YoY; ARR growth 10.5% constant currency; adjusted EPS $0.27

## Summary
- Total revenues $375.5M (+12% YoY); subscriptions $344.3M (+13.5% YoY); ARR $1,405.2M (+10.5% CC).
- GAAP EPS $0.18 vs $0.13 YoY; adjusted EPS $0.27 vs $0.24; operating margin 22.5% (20.5% prior).
- Cash from ops $116.4M vs $86.1M; free cash flow $110.7M vs $84.3M; nine-month CFO $396.9M.
- Management highlights AI product announcements at Year in Infrastructure conference; expects growth in programmatic consumption.
- Balance sheet strength supports stock repurchases to offset SBC dilution, dividend, and potential M&A (CFO commentary).

## SEC filing metadata
- accession: 0001031308-25-000012
- form_type: 8-K
- ticker: BSY
- cik: 0001031308
- company_name: BENTLEY SYSTEMS INC
- filed_at: 2025-11-05T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1031308/000103130825000012/0001031308-25-000012-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1031308/000103130825000012/bsy-20251105.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001031308-25-000012
- JSON: https://secwatch.observer/filing/0001031308-25-000012.json
- Plain text: https://secwatch.observer/filing/0001031308-25-000012.txt

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