NASDAQ$BSY
Bentley Systems, Incorporated · Q1 2021 earnings
Q1 2021 earnings · · Investor relations
Briefing
Bentley Systems' Q1 2021 operating results were announced, revealing revenue growth and improved profitability.
Bentley Systems reported a 14% year-over-year increase in total revenues, reaching $222.0 million for Q1 2021. The company's GAAP net income rose to $57.0 million, with adjusted EBITDA reaching $82.8 million.
- Total revenues increased by 14.0% year-over-year, reaching $222.0 million.
- ARR reached $760.2 million, reflecting a 10% constant currency growth rate.
- GAAP net income increased to $57.0 million, compared to $29.7 million in the same period last year.
- Adjusted EBITDA was $82.8 million, with an adjusted EBITDA margin of 37.3%.
Headline financials
Revenue & EPS history
Bentley Systems · Revenue · Quarterly
$222M
Revenue by segment
Bentley Systems · $33.9M total across 2 segments · Q1 2021
- Services$23.8M+73.5%70.1%
- Perpetual Licenses$10.1M-6.5%29.9%
Forward guidance
The company anticipates closing the Seequent acquisition in Q2 2021 and will update the full-year 2021 financial outlook to reflect the acquisition's impact.
Tailwinds
- Market demand for applications within newly-targeted ‘SMB’ prospects.
- Virtuosity subscriptions have attracted over a thousand accounts new to Bentley Systems, since inception less than a year ago.
- Long-term potential of infrastructure digital twins will be accelerated by the programmatic acquisitions.
- Acquisition of INRO to add multi-modal and dynamic simulation capabilities for mobility digital twins.
- Acquisition of sensemetrics and Vista Data Vision to extend iTwin platform for infrastructure IoT.
Headwinds
- Macroeconomic conditions.
- Pandemic consequences.
- Any costs or delays attributable to obtaining required regulatory approvals for the acquisition.
- Adverse changes in the capital markets environment and Bentley’s ability to access additional financing on terms acceptable to it or at all.
- Changes in Seequent’s customer base or geographic footprint.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2021
-0.5%
Avg return
Earnings day
+0.4%
Avg return
5 days after
+4.0%
Avg return
30 days after
55%
16 / 29 earnings
Positive
+14.2%
Q4 2025
Best reaction
-23.4%
Q1 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +4.8% | +1.8% | +2.6% | |
| Q4 2025 | +14.2% | +19.3% | +7.0% | |
| Q3 2025 | -1.0% | -5.4% | -11.8% | |
| Q1 2025 | +5.6% | +9.0% | +13.7% | |
| Q4 2024 | -2.3% | -6.2% | -13.1% | |
| Q3 2024 | -2.7% | -1.1% | -0.4% | |
| Q2 2024 | +4.6% | +8.0% | +8.6% | |
| Q1 2024 | +1.5% | +3.6% | -5.9% | |
| Q4 2023 | -3.2% | -2.5% | -0.5% | |
| Q3 2023 | +7.0% | +8.1% | +5.5% | |
| Q2 2023 | -6.2% | -8.4% | -2.5% | |
| Q1 2023 | +9.1% | +7.1% | +19.0% | |
| Q4 2022 | +1.7% | +8.3% | +7.8% | |
| Q3 2022 | +1.7% | +14.4% | +16.3% | |
| Q2 2022 | +1.1% | +1.1% | -6.0% | |
| Q1 2022 | -23.4% | -11.3% | -5.4% | |
| Q4 2021 | +6.1% | -0.9% | +15.1% | |
| Q3 2021 | -5.5% | -5.9% | -21.3% | |
| Q2 2021 | -3.6% | -1.2% | +6.6% | |
| Q1 2021 | +8.1% | +9.5% | +39.6% | |
| Q1 2020 | +8.1% | +9.5% | +39.6% | |
| Q4 2020 | +3.8% | +6.0% | +7.7% | |
| Q2 2020 | +3.8% | +6.0% | +7.7% | |
| Q4 2018 | +3.8% | +6.0% | +7.7% | |
| Q3 2019 | -10.2% | -12.5% | -4.2% | |
| Q2 2019 | -10.2% | -12.5% | -4.2% | |
| Q3 2020 | -10.2% | -12.5% | -4.2% | |
| Q4 2019 | -10.2% | -12.5% | -4.2% | |
| Q1 2019 | -10.2% | -12.5% | -4.2% |
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