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Sep 30, 2021
Bentley Systems Q3 2021 Earnings Report
Bentley Systems announced operating results, revealing revenue growth and strategic investments.
Key Takeaways
Bentley Systems reported a 23.7% year-over-year increase in total revenues, reaching $248.5 million (or $251.4 million adjusted). The company's ARR grew to $903.8 million, with a constant currency ARR growth rate of 26%. A GAAP operating loss of $40.4 million was reported due to a one-time compensation charge.
Total revenues increased by 23.7% year-over-year.
ARR reached $903.8 million, with a 26% constant currency growth rate.
GAAP operating loss reported due to a one-time compensation charge.
Investments in User Success and Virtuosity organizations strengthened business performance.
Bentley Systems
Bentley Systems
Forward Guidance
Bentley Systems anticipates infrastructure spending increases and acknowledges the necessity of going digital to sustain growth and resilience.
Positive Outlook
- Infrastructure spending increases are anticipated.
- Public works and utility sectors are expected to benefit.
- Going digital is seen as increasingly necessary.
- Focus on sustaining growth.
- Infrastructure resilience and adaptation are prioritized.
Challenges Ahead
- Industrial and resources 'CAPEX' downturn remains a headwind globally.
- Hiring challenges are anticipated.
- Potential impacts of the COVID‑19 pandemic on the global economy and business.
- Adverse changes in global economic and/or political conditions.
- Failure to retain personnel necessary for the operation of business or those that acquired.