Bentley Systems Q1 revenue up 24% to $275.5M; adjusted EPS $0.24 vs $0.20

BENTLEY SYSTEMS INC

2022-Q1 EPS reported $0.18 revenue$275,517,000

Total revenues $275.5M, +24.1% YoY (+27.7% constant currency); subscriptions $241.2M, +28.2%.
GAAP net income $56.4M, diluted EPS $0.18 (flat YoY); adjusted net income $79.6M, EPS $0.24 vs $0.20.
ARR $962.6M, constant currency ARR growth 27% YoY; LTM recurring revenue retention 108%.
Cash from operations $101.7M (down from $132.8M); adjusted EBITDA $97.6M, margin 35.4%.
Completed Power Line Systems acquisition for $696M cash; cited Russia/China headwinds and platform acquisitions.

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