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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.
Revenue by Segment
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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