Earnings ·
Bentley Systems reports Q3 revenue of $421.5M and raises ARR growth outlook to 12.5-13.5%
BSYBentley Systems Inc
Bentley Systems reported third-quarter total revenues of $421.5 million, a 12.2% increase year-over-year, driven by subscription revenue growth of 12.4%. Annualized Recurring Revenues (ARR) reached $1,582.8 million, reflecting 13% constant currency growth. The company raised its full-year constant currency ARR growth outlook to 12.5-13.5%, excluding the impact from the recent divestiture of Cohesive. Adjusted net income per diluted share was $0.36, up from $0.27 in the prior year period. These results follow the completion of the Eliis acquisition and the divestment of Cohesive to Naviam. Bentley Systems is an infrastructure engineering software company.