NASDAQ$BSY
Bentley Systems, Incorporated · Q4 2020 earnings
Q4 2020 earnings · · Investor relations
Briefing
Bentley Systems' Q4 2020 financial results were announced, showing revenue growth and increased profitability.
Bentley Systems reported an 8.2% year-over-year increase in total revenues for Q4 2020, reaching $219.6 million. GAAP net income increased to $51.9 million, or $0.17 per diluted share, compared to $36.3 million, or $0.13 per diluted share, for the same period last year. The company's ARR grew to $752.7 million, representing a constant currency ARR growth rate of 8%.
- Total revenues increased by 8.2% year-over-year to $219.6 million.
- Subscriptions revenues grew by 9.4% year-over-year to $178.3 million.
- GAAP net income rose to $51.9 million, or $0.17 per diluted share.
- ARR reached $752.7 million, with a constant currency ARR growth rate of 8%.
Headline financials
Revenue & EPS history
Bentley Systems · Revenue · Quarterly
$220M
Revenue by segment
Bentley Systems · $220M total across 3 segments · Q4 2020
- Subscriptions$178M—81.2%
- Perpetual Licenses$21.4M-0.4%9.7%
- Services$19.9M+7.7%9.1%
Forward guidance
The Company is providing the following outlook for the year ending December 31, 2021. The 2021 guidance herein is premised on COVID‑19 pandemic-related business impacts generally abating gradually by year end, however, the ultimate impacts of COVID‑19 on the Company's financial outlook remain uncertain.
Tailwinds
- Total revenues in the range of $895 million to $920 million, representing growth of 11.7% to 14.8%.
- Constant currency ARR growth rate of 8% to 10%.
- Adjusted EBITDA in the range of $285 million to $295 million, representing growth of 7.1% to 10.8%, and Adjusted EBITDA margin of approximately 32%.
- Its effective tax rate to be approximately 20%.
- The Company does not provide quarterly guidance, but will update its full-year financial outlook when announcing quarterly operating results during 2021 to the extent expectations materially change.
Headwinds
- The 2021 guidance herein is premised on COVID‑19 pandemic-related business impacts generally abating gradually by year end, however, the ultimate impacts of COVID‑19 on the Company's financial outlook remain uncertain.
- The 2021 outlook information provided above includes Constant currency ARR growth rate, Adjusted EBITDA, and Adjusted EBITDA margin guidance, which are non-GAAP financial measures management uses in measuring performance.
- The Company is unable to reconcile these forward-looking non-GAAP measures to GAAP without unreasonable efforts because it is not possible to predict with a reasonable degree of certainty the actual impact of certain items and unanticipated events, including stock‑based compensation charges, depreciation and amortization of capitalized software costs and of acquired intangible assets, realignment expenses, and other items, which would be included in GAAP results.
- The impact of such items and unanticipated events could be potentially significant.
- The 2021 outlook is forward-looking, subject to significant business, economic, regulatory, and competitive uncertainties and contingencies, many of which are beyond the control of the Company and its management, and based upon assumptions with respect to future decisions, which are subject to change.
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 Q4 2020
-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% |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro