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Mar 31, 2024
Bentley Systems Q1 2024 Earnings Report
Bentley Systems' Q1 2024 results were announced, demonstrating revenue growth and strong ARR.
Key Takeaways
Bentley Systems reported a 7.4% increase in total revenues, reaching $337.8 million for Q1 2024. The company's ARR grew by 11% to $1,186.5 million, and adjusted EPS increased to $0.31. Profitability and operating cash flow exceeded expectations, positioning the company well for the full year.
Total revenues increased by 7.4% year-over-year to $337.8 million.
ARR reached $1,186.5 million, reflecting an 11% year-over-year growth.
Adjusted EPS rose to $0.31, compared to $0.25 in the previous year.
Operating income margin was 27.2%, up from 20.9% in the same period last year.
Revenue by Segment
Forward Guidance
Bentley Systems is well-positioned to achieve its full-year outlook, driven by strong operating margin and cash flow performance.
Positive Outlook
- Strong start to the year positions the company well for full-year outlook.
- Strong operating margin performance.
- Strong cash flow performance.
- De-leveraged by 0.5 times Adjusted EBITDA in the quarter.
- All remaining debt protected from high or rising interest rates.
Challenges Ahead
- Professional services business unrelated to Bentley Systems software has declined significantly from 2023.
- Exposure to risks related to global economic and political conditions.
- Potential impacts from sanctions, embargoes, and other similar laws.
- Risks associated with retaining personnel and managing succession.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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