BENTLEY SYSTEMS INC

For the period ended Dec 31, 2023. Filed Feb 27, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 27, 2024

BSY$45.40+1.7%Stored close · as of Nov 9, 2026

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Contents

Consolidated Statements of Operations F-

	Year Ended December 31,
	2023	2022	2021
Revenues:
Subscriptions	$1,080,307	$960,220	$812,807
Perpetual licenses	46,038	43,377	53,080
Subscriptions and licenses	1,126,345	1,003,597	865,887
Services	102,068	95,485	99,159
Total revenues	1,228,413	1,099,082	965,046
Cost of revenues:
Cost of subscriptions and licenses	169,406	147,578	124,321
Cost of services	96,677	89,435	92,218
Total cost of revenues	266,083	237,013	216,539
Gross profit	962,330	862,069	748,507
Operating expense (income):
Research and development	274,619	257,856	220,915
Selling and marketing	224,336	195,622	162,240
General and administrative	180,738	174,647	150,116
Deferred compensation plan	13,580	(15,782)	95,046
Amortization of purchased intangibles	38,515	41,114	25,601
Total operating expenses	731,788	653,457	653,918
Income from operations	230,542	208,612	94,589
Interest expense, net	(39,793)	(34,635)	(11,221)
Other (expense) income, net	(7,222)	24,298	9,961
Income before income taxes	183,527	198,275	93,329
Benefit (provision) for income taxes	143,241	(21,283)	3,448
Gain (loss) from investments accounted for using the equity method, net of tax	19	(2,212)	(3,585)
Net income	$326,787	$174,780	$93,192
Per share information:
Net income per share, basic	$1.05	$0.57	$0.30
Net income per share, diluted	$1.00	$0.55	$0.30
Weighted average shares, basic	312,358,823	309,226,677	305,711,345
Weighted average shares, diluted	332,503,633	331,765,158	314,610,814

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.