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Mar 31, 2025
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.
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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