NASDAQ$BSY
Bentley Systems, Incorporated · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
Bentley Systems' operating results announced for the third quarter of 2022, demonstrating growth in revenues and ARR.
Bentley Systems reported a 6.7% increase in total revenues, reaching $268.3 million. The company's ARR grew to $983.7 million, with a constant currency ARR growth rate of 14%. GAAP net income improved to $37.0 million, a significant turnaround from the previous year's net loss.
- Total revenues increased by 6.7% year-over-year, reaching $268.3 million.
- ARR reached $983.7 million, representing a 14% constant currency growth rate.
- GAAP net income was $37.0 million, a significant improvement from the net loss in the same period last year.
- The last twelve-month recurring revenues dollar-based net retention rate was 110%.
Headline financials
Revenue & EPS history
Bentley Systems · Revenue · Quarterly
$268M
Revenue by segment
Bentley Systems · $33M total across 2 segments · Q3 2022
- Services$23.6M—71.4%
- Perpetual Licenses$9.46M—28.6%
Forward guidance
Bentley Systems reaffirmed its full-year 2022 financial outlook in constant currency metrics, including total revenues growth of 16.9% to 20.1% and constant currency ARR growth rate of 14% to 16%.
Tailwinds
- Total revenues growth of 16.9% to 20.1% in constant currency is expected.
- Constant currency ARR growth rate of 14% to 16% is anticipated.
- New business is accelerating noticeably in the U.S.
- Civil engineering organizations are growing globally.
- Enterprise success teams are increasing ARR accretion within the E365 program.
Headwinds
- Reported revenues are subject to foreign exchange fluctuations.
- The ongoing impact of volatile exchange rates will negatively impact full year total revenues.
- Full year outlook for 2022 adjusted EBITDA margin of 33% may be affected by exchange rates.
- Losses from Russia are affecting the outlook.
- Circumstantially fewer programmatic acquisitions during 2022 to date.
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 Q3 2022
-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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