Bentley Systems, Class B ( (BSY) ) has released its Q4 earnings. Here is a breakdown of the information Bentley Systems, Class B presented to its investors.
Bentley Systems, Incorporated is a leading infrastructure engineering software company that provides solutions to design, build, and operate infrastructure across various sectors such as transportation, water, and energy. In its latest earnings report, Bentley Systems announced a strong financial performance for the fourth quarter and full year 2024, with significant growth in subscription revenues and operating margins. The company reported a 12.6% increase in total revenues for the fourth quarter, reaching $349.8 million, and a 10.1% increase for the full year 2024, totaling $1,353.1 million. Subscription revenues saw a notable rise of 15.8% in the fourth quarter and 13.2% for the year, reflecting robust demand for Bentley’s software solutions. Key financial metrics highlighted include an operating income margin improvement to 17.6% in Q4 and 22.3% for the year, alongside a consistent increase in Annualized Recurring Revenues (ARR) by 12%. Despite a decrease in net income per diluted share from $0.54 to $0.16 in Q4, the adjusted EPS improved slightly to $0.21. Looking ahead, Bentley Systems projects continued growth in 2025, with expected total revenues between $1,461 million and $1,490 million and subscription revenue growth of 10.5% to 12.5%. The company remains optimistic about maintaining its growth trajectory, supported by strategic management changes and a focus on infrastructure AI and technology innovation.