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Dec 31, 2024
Bentley Systems Q4 2024 Earnings Report
Bentley Systems reported increased revenues and strong operating income for Q4 2024.
Key Takeaways
Bentley Systems reported total revenues of $349.8 million for Q4 2024, a 12.6% increase year-over-year. The company achieved an adjusted EPS of $0.21 and an operating income margin of 17.6%. Subscription revenues drove growth, increasing by 15.8% compared to the prior year.
Total revenues of $349.8 million, up 12.6% year-over-year.
Adjusted EPS of $0.21, up from $0.20 in the same period last year.
Operating income margin of 17.6%.
Annualized recurring revenues (ARR) increased to $1,283.3 million.
Revenue by Segment
Forward Guidance
For 2025, Bentley Systems expects revenue between $1,461 million and $1,490 million, with sustained growth in subscriptions and operating income.
Positive Outlook
- Expected ARR growth of 10.5% to 12.5%.
- Anticipated operating income margin improvement.
- Strong growth forecasted in subscription revenues.
- Free cash flow expected to range between $415 million to $455 million.
- Capital expenditures planned at approximately $20 million.
Challenges Ahead
- Flat growth projected for perpetual license revenue.
- Flat growth projected for services revenue.
- Decline in free cash flow conversion year-over-year.
- Potential headwinds in the APAC region.
- Increased expenses related to stock-based compensation.
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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