secwatch.observer — SEC 8-K summary
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Issuer:     BENTLEY SYSTEMS INC (BSY)
CIK:        0001031308
Form:       8-K
Filed at:   2022-03-01T23:59:59+00:00
Accession:  0001628280-22-004357
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bentley Systems reports Q4 2021 revenues up 21.9% YoY; ARR $921.2M; provides 2022 outlook
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- Q4 total revenues $267.7M (+21.9% YoY); subscriptions revenues $223.1M (+25.2% YoY).
- ARR $921.2M as of Dec 31, 2021; constant currency ARR growth 26% from Dec 31, 2020.
- Adjusted net income Q4 $72.0M ($0.23 diluted) vs $52.3M ($0.17); full year $266.9M ($0.85) vs $192.8M ($0.64).
- GAAP net income Q4 $38.6M ($0.12) vs $51.9M ($0.17); full year $93.2M ($0.30) vs $126.5M ($0.42); 2021 includes $83.4M tax-effected deferred comp charge.
- 2022 outlook: revenues $1.11-1.14B; constant currency ARR growth 14-16%; Adjusted EBITDA $370-380M. Power Line Systems acquisition closed Jan 31 for ~$700M cash.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1031308/000162828022004357/0001628280-22-004357-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1031308/000162828022004357/bsy-20220301.htm
  HTML page:      https://secwatch.observer/filing/0001628280-22-004357

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