Bentley Systems Q2 2021 Earnings Report
Key Takeaways
Bentley Systems announced operating results for the second quarter and six months ended June 30, 2021. Total revenues were $222.9 million, up 21.0% year-over-year. GAAP net income was $44.9 million, compared to $39.1 million for the same period last year.
Total revenues were $222.9 million, up 21.0% year-over-year.
Subscriptions revenues were $185.5 million, up 17.6% year-over-year.
ARR was $882.4 million as of June 30, 2021, representing a constant currency ARR growth rate of 23% from June 30, 2020.
GAAP net income was $44.9 million, compared to $39.1 million for the same period last year.
Bentley Systems
Bentley Systems
Forward Guidance
The Company updated its full-year financial outlook for the year ending December 31, 2021, reflecting first half performance, current business developments, and notably, the Seequent acquisition.
Positive Outlook
- Total revenues $945 – $960 million
- Constant currency ARR growth rate 22% – 24%
- Adjusted EBITDA $305 – $310 million
- Effective tax rate <15%