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Mar 31
Bentley Systems Q1 2025 Earnings Report
reported strong first quarter results with robust revenue growth and profitability.
Key Takeaways
Bentley Systems delivered a strong Q1 2025, achieving solid revenue growth and profitability driven by increased subscription revenues and sustained ARR expansion.
Total revenue reached $370,542,000, driven by 11.5% YoY growth in subscriptions revenue.
Net income rose to $91,368,000, translating to $0.28 per diluted share.
ARR increased to $1,319,300,000, reflecting a 12% constant currency growth rate.
Free cash flow improved to $216,371,000, supporting continued investments and shareholder returns.
Bentley Systems
Bentley Systems
Bentley Systems Revenue by Segment
Forward Guidance
Management reaffirmed confidence in the FY2025 outlook despite macroeconomic uncertainties, supported by robust ARR and cash flow.
Positive Outlook
- Strong ARR performance at 12% constant currency growth.
- Free cash flow sufficient to fund dividends, buybacks, and growth.
- Subscription revenue growth sustained in Q1.
- Improved operating income margin to 31.1%.
- Management notes solid positioning for remainder of FY25.
Challenges Ahead
- Uncertainty due to global economic conditions.
- Tariff-related caution among customers.
- Slight YoY decline in services revenue.
- Stock-based compensation remains significant.
- Limited revenue growth from perpetual licenses.
Revenue & Expenses
Visualization of income flow from segment revenue to net income