BENTLEY SYSTEMS INC
For the period ended Mar 31, 2026. Filed May 7, 2026.
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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.
Mar 31, 2026 · Filed May 7, 2026
BSY$45.24-0.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows
| Three Months Ended | ||
|---|---|---|
| March 31, | ||
| 2026 | 2025 | |
| Cash flows from operating activities: | ||
| Net income | $95,349 | $91,338 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 16,141 | 15,640 |
| Deferred income taxes | 8,207 | (1,216) |
| Stock-based compensation expense | 20,192 | 17,402 |
| Deferred compensation plan | (1,074) | (1,246) |
| Amortization of deferred debt issuance costs | 1,135 | 1,894 |
| Change in fair value of derivative | (76) | 4,372 |
| Foreign currency remeasurement loss (gain) | 180 | (25) |
| Other | 665 | 175 |
| Changes in assets and liabilities, net of effect from acquisitions: | ||
| Accounts receivable | 4,886 | 14,346 |
| Prepaid and other assets | (5,251) | 2,942 |
| Accounts payable, accruals, and other liabilities | (11,056) | (8,356) |
| Cloud Services Subscription deposits | 65,852 | 74,489 |
| Deferred revenues | (9,994) | (6,538) |
| Income taxes payable, net of prepaid income taxes | 8,252 | 14,198 |
| Net cash provided by operating activities | 193,408 | 219,415 |
| Cash flows from investing activities: | ||
| Purchases of property and equipment and investment in capitalized software | (5,551) | (3,044) |
| Net cash used in investing activities | (5,551) | (3,044) |
| Cash flows from financing activities: | ||
| Proceeds from credit facility | 820,537 | 122,249 |
| Repayments of credit facility | (277,126) | (257,565) |
| Repayment of convertible senior notes | (677,830) | (9,797) |
| Payments of dividends | (21,225) | (21,198) |
| Proceeds from stock purchases under employee stock purchase plan | 5,500 | 5,312 |
| Payments for shares acquired including shares withheld for taxes | (14,226) | (9,436) |
| Repurchases of Class B common stock under approved program | (40,021) | (30,014) |
| Other | (50) | (359) |
| Net cash used in financing activities | (204,441) | (200,808) |
| Effect of exchange rate changes on cash and cash equivalents | (1,535) | 4,065 |
| (Decrease) increase in cash and cash equivalents | (18,119) | 19,628 |
| Cash and cash equivalents, beginning of period | 123,278 | 64,009 |
| Cash and cash equivalents, end of period | $105,159 | $83,637 |
Consolidated Statements of Cash Flows
| Three Months Ended | ||
|---|---|---|
| March 31, | ||
| 2026 | 2025 | |
| Supplemental information: | ||
| Cash paid for income taxes (1) | $6,735 | $8,433 |
| Income tax refunds | $148 | $470 |
| Cash paid for interest | $7,365 | $2,150 |
| Non-cash investing and financing activities: | ||
| Share-settled executive bonus plan awards | $1,428 | $1,062 |
(1)Cash paid for income taxes includes third‑party withholding taxes.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.