BENTLEY SYSTEMS INC

For the period ended Mar 31, 2024. Filed May 7, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2024 · Filed May 7, 2024

BSY$45.24-0.4%Stored close · as of Nov 10, 2026

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Contents

Item 1. Consolidated Statements of Operations

Consolidated Statements of Operations

	Three Months Ended
	March 31,
	2024	2023
Revenues:
Subscriptions	$307,089	$277,845
Perpetual licenses	9,512	9,547
Subscriptions and licenses	316,601	287,392
Services	21,162	27,019
Total revenues	337,763	314,411
Cost of revenues:
Cost of subscriptions and licenses	40,218	40,931
Cost of services	21,612	26,253
Total cost of revenues	61,830	67,184
Gross profit	275,933	247,227
Operating expenses:
Research and development	68,371	67,800
Selling and marketing	54,386	52,141
General and administrative	46,482	46,807
Deferred compensation plan	5,799	4,146
Amortization of purchased intangibles	8,964	10,548
Total operating expenses	184,002	181,442
Income from operations	91,931	65,785
Interest expense, net	(6,520)	(11,092)
Other income, net	7,137	289
Income before income taxes	92,548	54,982
Provision for income taxes	(22,247)	(9,492)
Equity in net income of investees, net of tax	9	—
Net income	$70,310	$45,490
Per share information:
Net income per share, basic	$0.22	$0.15
Net income per share, diluted	$0.22	$0.14
Weighted average shares, basic	314,295,102	310,758,802
Weighted average shares, diluted	333,623,518	331,251,884

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.