BENTLEY SYSTEMS INC
For the period ended Sep 30, 2024. Filed Nov 7, 2024.
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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.
Sep 30, 2024 · Filed Nov 7, 2024
BSY$45.24-0.4%Stored close · as of Nov 10, 2026
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Item 1. Consolidated Statements of Operations
Consolidated Statements of Operations
| Three Months Ended · Nine Months Ended | ||||
|---|---|---|---|---|
| September 30, | September 30, | |||
| 2024 | 2023 | 2024 | 2023 | |
| Revenues: | ||||
| Subscriptions | $303,239 | $270,751 | $907,772 | $807,839 |
| Perpetual licenses | 11,274 | 11,887 | 31,649 | 33,152 |
| Subscriptions and licenses | 314,513 | 282,638 | 939,421 | 840,991 |
| Services | 20,660 | 23,974 | 63,852 | 76,781 |
| Total revenues | 335,173 | 306,612 | 1,003,273 | 917,772 |
| Cost of revenues: | ||||
| Cost of subscriptions and licenses | 44,220 | 42,088 | 126,870 | 124,175 |
| Cost of services | 20,612 | 22,588 | 62,985 | 74,111 |
| Total cost of revenues | 64,832 | 64,676 | 189,855 | 198,286 |
| Gross profit | 270,341 | 241,936 | 813,418 | 719,486 |
| Operating expense (income): | ||||
| Research and development | 70,068 | 65,465 | 204,148 | 203,382 |
| Selling and marketing | 64,940 | 53,757 | 176,455 | 160,262 |
| General and administrative | 51,359 | 42,678 | 152,695 | 128,743 |
| Deferred compensation plan | 6,983 | (3,160) | 13,665 | 4,763 |
| Amortization of purchased intangibles | 8,361 | 9,517 | 25,717 | 29,567 |
| Total operating expenses | 201,711 | 168,257 | 572,680 | 526,717 |
| Income from operations | 68,630 | 73,679 | 240,738 | 192,769 |
| Interest expense, net | (4,669) | (10,047) | (16,289) | (30,623) |
| Other (expense) income, net | (5,087) | 5,953 | 4,330 | 7,207 |
| Income before income taxes | 58,874 | 69,585 | 228,779 | 169,353 |
| Provision for income taxes | (16,522) | (16,514) | (44,099) | (22,107) |
| Equity in net (losses) income of investees, net of tax | (14) | (44) | 14 | (44) |
| Net income | $42,338 | $53,027 | $184,694 | $147,202 |
| Per share information: | ||||
| Net income per share, basic | $0.13 | $0.17 | $0.59 | $0.47 |
| Net income per share, diluted | $0.13 | $0.16 | $0.57 | $0.46 |
| Weighted average shares, basic | 315,207,216 | 313,069,132 | 314,820,679 | 311,915,808 |
| Weighted average shares, diluted | 333,789,636 | 332,825,186 | 333,724,425 | 332,144,893 |
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