secwatch.observer — SEC 8-K summary
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Issuer:     BENTLEY SYSTEMS INC (BSY)
CIK:        0001031308
Form:       8-K
Filed at:   2022-11-08T23:59:59+00:00
Accession:  0001628280-22-028750
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bentley Systems Q3 2022: revenue $268.3M (+6.7% reported, +14.7% CC); adj. EPS $0.19 vs $0.17
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- Subscriptions revenue $235.3M (+9.4% reported, +17.6% CC); GAAP net income $37.0M ($0.12 diluted) vs loss $48.0M a year ago.
- Adjusted Net Income $61.8M ($0.19/diluted share) vs $56.3M ($0.17) last year; Adjusted EBITDA $89.7M, margin 33.4%.
- ARR $983.7M as of Sep 30, 2022 with constant currency ARR growth of 14% from Sep 30, 2021.
- Full-year 2022 constant currency guidance reaffirmed: total revenue growth 16.9%-20.1%, ARR growth 14%-16%; forex may reduce reported revenue by ~$40M.
- Business performance ARR growth 11.5% (excludes Russia write-down and platform acquisitions); net retention rate 110% vs 106% last year.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1031308/000162828022028750/0001628280-22-028750-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1031308/000162828022028750/bsy-20221108.htm
  HTML page:      https://secwatch.observer/filing/0001628280-22-028750

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