secwatch.observer — SEC 8-K summary
======================================

Issuer:     BENTLEY SYSTEMS INC (BSY)
CIK:        0001031308
Form:       8-K
Filed at:   2022-08-09T23:59:59+00:00
Accession:  0001628280-22-021735
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bentley Systems Q2 revenue $268M (+20% YoY); ARR $972M; adj. EBITDA margin 32.2%
--------------------------------------------------------------------------------

- Q2 total revenues $268.3M (+19.8% YoY; +26.2% cc); subscriptions $232.2M (+24.5%; +31.3% cc).
- ARR $971.9M at June 30, 2022, up 14% from June 30, 2021; constant-currency ARR growth 11.5% incl. Russia write-down.
- GAAP net income $55.7M ($0.17 diluted EPS) vs $45.6M ($0.14); adjusted net income $73.8M ($0.22) vs $74.5M ($0.23).
- Adjusted EBITDA $86.5M (32.2% margin) vs $69.3M (31.0%); cash from operations $67.0M vs $16.2M YoY.
- CFO guides FY2022 revenue may be ~$25M lower if current FX persists, but adj. EBITDA margin remains ~33%; outlook unchanged.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1031308/000162828022021735/0001628280-22-021735-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1031308/000162828022021735/bsy-20220809.htm
  HTML page:      https://secwatch.observer/filing/0001628280-22-021735

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