BENTLEY SYSTEMS INC

For the period ended Mar 31, 2025. Filed May 7, 2025.

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, 2025 · Filed May 7, 2025

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,
	2025	2024
Revenues:
Subscriptions	$342,318	$307,089
Perpetual licenses	10,792	9,512
Subscriptions and licenses	353,110	316,601
Services	17,432	21,162
Total revenues	370,542	337,763
Cost of revenues:
Cost of subscriptions and licenses	46,498	40,218
Cost of services	19,161	21,612
Total cost of revenues	65,659	61,830
Gross profit	304,883	275,933
Operating expense (income):
Research and development	72,450	68,371
Selling and marketing	63,059	54,386
General and administrative	47,228	46,482
Deferred compensation plan	(1,246)	5,799
Amortization of purchased intangibles	8,208	8,964
Total operating expenses	189,699	184,002
Income from operations	115,184	91,931
Interest expense, net	(3,808)	(6,520)
Other income, net	449	7,137
Income before income taxes	111,825	92,548
Provision for income taxes	(20,488)	(22,247)
Equity in net income of investees, net of tax	1	9
Net income	91,338	70,310
Less: Net income (loss) attributable to noncontrolling interest	(30)	—
Net income attributable to Bentley Systems	$91,368	$70,310
Net income per share attributable to Bentley Systems stockholders:
Basic	$0.29	$0.22
Diluted	$0.28	$0.22
Weighted average shares:
Basic	315,130,071	314,295,102
Diluted	333,441,006	333,623,518

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.