Ansys Inc ( (ANSS) ) has released its Q3 earnings. Here is a breakdown of the information Ansys Inc presented to its investors.
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Ansys Inc. is a leading provider of engineering simulation software, serving industries that require advanced simulation technologies for product design and process optimization. The company operates primarily in the software industry, offering a range of simulation solutions that help companies innovate and improve product performance.
Ansys Inc. has reported strong financial results for the third quarter of 2024, with revenue reaching $601.9 million, marking a 31% increase compared to the same period last year. The company achieved diluted earnings per share of $1.46 on a GAAP basis and $2.58 on a non-GAAP basis, reflecting significant growth from prior year figures.
Key financial highlights include a substantial 18% growth in Annual Contract Value (ACV) and robust operating profit margins of 26.8% GAAP and 45.8% non-GAAP. The company also generated operating cash flows of $174.2 million. Ansys continues to see strong lease growth, driven by a significant $88 million contract in the high-tech industry, contributing to its multi-year lease revenue.
In addition to its financial performance, Ansys is in the process of being acquired by Synopsys, Inc., with the transaction expected to close in the first half of 2025, pending regulatory approvals. This strategic move is anticipated to enhance Ansys’ market position and expand its capabilities.
Looking ahead, Ansys remains optimistic about achieving double-digit ACV growth for the full year of 2024. Despite the ongoing acquisition process, the company appears well-positioned to continue its trajectory of growth and innovation in the simulation software market.
