Bentley Systems Announces First Quarter 2025 Results
Bentley Systems Announces First Quarter 2025 Results Press Release May 7, 2025 EXTON, Pa.- Bentley Systems, Incorporated (Nasdaq: BSY),the infrastructure engineering software company, today announced results for the quarter ended March 31, 2025. First Quarter 2025 Results Total revenues were $370.5 million, up 9.7% or 10.9% on a constant currency basis, year-over-year; Subscriptions revenues were $342.3 million, up 11.5% or 12.7% on a constant currency basis, year-over-year; Annualized Recurring Revenues (“ARR”) were $1,319.3 million as of March 31, 2025, compared to $1,186.5 million as of March 31, 2024, representing a constant currency ARR growth rate of 12%; Last twelve-month recurring revenues dollar-based net retention rate was 110%, compared to 108% for the same period last year; Operating income margin was 31.1%, compared to 27.2% for the same period last year; Adjusted operating income less stock-based compensation expense (“AOI less SBC”) (previously titled Adjusted operating income inclusive of stock-based compensation expense (“Adjusted OI w/SBC”)) margin was 34.1%, compared to 33.3% for the same period last year; Net income per diluted share was $0.28, compared to $0.22 for the same period last year; Adjusted net income per diluted share (“Adjusted EPS”) was $0.35, compared to $0.31 for the same period last year; Cash