BENTLEY SYSTEMS INC reported three months ended March 31, 2026 results: revenue $424.2 million, EPS $0.30.
“First Quarter 2026 Results • Total revenues were $424.2 million, up 14.5% or 11.9% on a constant currency basis, year-over-year; • Subscriptions revenues were $392.5 million, up 14.7% or 12.2% on a constant currency basis, year-over-year; • Annualized Recurring Revenues (“ARR”) were $1,494.5 million as of March 31, 2026, compared to $1,319.3 million as of March 31, 2025; Constant currency ARR growth rate was 11.5%; • Last twelve-month recurring revenues dollar-based net retention rate was 109%, compared to 110% for the same period last year; • Operating income margin was 29.8%, compared to 31.1% for the same period last year; • Adjusted operating income less operating stock-based compensation expense (“AOI less Operating SBC”) margin was 33.2%, compared to 34.6% for the same period last year; • Net income per diluted share was $0.30, compared to $0.28 for the same period last year; • Adj”
Material Agreements
BENTLEY SYSTEMS INC amended First Amendment and Incremental Facility Agreement with PNC Bank, National Association, as administrative agent valued at $550 million senior secured term loan maturing October 18, 2029, with interest at Alternate Base Rat (effective 2026-04-23).
“On April 23, 2026, Bentley Systems, Incorporated (the “ Company ”) entered into a First Amendment and Incremental Facility Agreement, dated as of April 23, 2026 (the “ First Amendment ”), by and among the Company, the subsidiary loan parties thereto, the lenders party thereto and PNC Bank, National Association, as administrative agent, which amends that certain Second Amended and Restated Credit Agreement, dated as of October 18, 2024 (the “ Credit Agreement ”), by and among the Company, the lenders party thereto and PNC Bank, National Association, as administrative agent.”
James Lee was appointed as Chief Operating Officer at BENTLEY SYSTEMS INC.
“Effective January 13, 2025, James Lee was appointed the Chief Operating Officer of Bentley Systems, Incorporated”
Nicholas H. Cumins was appointed as director at BENTLEY SYSTEMS INC.
“appointed Nicholas H. Cumins, the Company’s Chief Executive Officer, as a director of the Company in addition to his current role.”
Earnings Releases
BENTLEY SYSTEMS INC reported first quarter ended March 31, 2024 results: revenue $337.8 million, EPS $0.22.
“BSY), the infrastructure engineering software company, today announced results for its first quarter ended March 31, 2024. First Quarter 2024 Results • Total revenues were $337.8 million, up 7.4% or 7.2% on a constant currency basis, year-over-year; • Subscriptions revenues were $307.1 million, up 10.5% or 10.3% on a constant currency basis, year-over-year; •”
Thomas F. Trimback was appointed as Chief Accounting Officer at BENTLEY SYSTEMS INC.
“Thomas F. Trimback was appointed the Company’s Chief Accounting Officer, taking over the role from Werner Andre, who will remain the Company’s Chief Financial Officer.”
Nicholas H. Cumins was appointed as Chief Executive Officer at BENTLEY SYSTEMS INC.
“Upon the effectiveness of Mr. Bentley’s transition, the Board will appoint Nicholas H. Cumins, the Company’s Chief Operating Officer, as Chief Executive Officer.”
Gregory S. Bentley changed role as Executive Chair at BENTLEY SYSTEMS INC.
“effective July 1, 2024, he will transition from the Company’s Chief Executive Officer to become Executive Chair of the Board.”
Earnings Releases
BENTLEY SYSTEMS INC updated its the three months and year ended December 31, 2023 guidance (reaffirmed).
“On February 27, 2024 , Bentley Systems, Incorporated (the “Company”) issued a press release announcing its financial results for the three months and year ended December 31, 2023.”
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