Loading...
•
Jun 30, 2023
Bentley Systems Q2 2023 Earnings Report
Bentley Systems' operating results for Q2 2023 were announced, showcasing revenue growth and strong ARR.
Key Takeaways
Bentley Systems reported a 10.6% increase in total revenues, reaching $296.7 million, with subscription revenues up by 11.7%. The company's ARR grew to $1,105.9 million, representing a 13% constant currency growth rate. Adjusted EPS was reported at $0.24, compared to $0.23 in the same period last year.
Total revenues increased by 10.6% year-over-year, reaching $296.7 million.
ARR reached $1,105.9 million, with a constant currency ARR growth rate of 13%.
The last twelve-month recurring revenues dollar-based net retention rate was 110%.
Adjusted EPS increased to $0.24, compared to $0.23 for the same period last year.
Bentley Systems
Bentley Systems
Bentley Systems Revenue by Segment
Revenue by Segment
Perpetual Licenses Revenue
CapyFin.comServices Revenue
CapyFin.com Forward Guidance
Bentley Systems narrowed its 2023 ARR growth outlook (constant currency business performance) to a range of 12% to 13% due to the momentum underlying a strong first half, offset by lower expectations for programmatic acquisition contributions this year, and particularly by the business model shift in China (from ARR) due to prevailing geopolitical concerns.
Revenue & Expenses
Visualization of income flow from segment revenue to net income