NASDAQ$BSY
Bentley Systems, Incorporated · Q4 2021 earnings
Q4 2021 earnings · · Investor relations
Briefing
Bentley Systems' Q4 2021 operating results were announced, showcasing revenue growth and strong performance in key metrics.
Bentley Systems reported a strong Q4 2021 with a 21.9% year-over-year increase in total revenues, reaching $267.7 million. The company's ARR grew significantly, and it provided a positive financial outlook for 2022, including revenue and Adjusted EBITDA growth.
- Total revenues increased by 21.9% year-over-year, reaching $267.7 million.
- ARR reached $921.2 million, demonstrating a constant currency ARR growth rate of 26%.
- GAAP net income was $38.6 million, or $0.12 per diluted share.
- Adjusted EBITDA was $88.2 million, representing 32.9% of total revenue.
Headline financials
Revenue & EPS history
Bentley Systems · Revenue · Quarterly
$268M
Revenue by segment
Bentley Systems · $44.6M total across 2 segments · Q4 2021
- Services$24.9M+25.0%55.8%
- Perpetual Licenses$19.7M-7.7%44.2%
Forward guidance
The Company is sharing the following outlook for the year ending December 31, 2022. Total revenues in the range of $1,110 million to $1,140 million, representing growth of 15.0% to 18.1% (16.9% to 20.1% in constant currency); Constant currency ARR growth rate of 14% to 16% (1); Adjusted EBITDA in the range of $370 million to $380 million, representing growth of 13.9% to 16.9% (16.3% to 19.5% in constant currency), and Adjusted EBITDA margin of approximately 33%; and Effective tax rate of less than 15%.
Tailwinds
- Total revenues in the range of $1,110 million to $1,140 million, representing growth of 15.0% to 18.1%
- Constant currency ARR growth rate of 14% to 16%
- Adjusted EBITDA in the range of $370 million to $380 million, representing growth of 13.9% to 16.9%
- Adjusted EBITDA margin of approximately 33%
- Effective tax rate of less than 15%
Headwinds
- Geopolitical complications are adding uncertainties
- The 2022 outlook is forward-looking, subject to significant business, economic, regulatory, and competitive uncertainties and contingencies
- Many uncertainties are beyond the control of the Company and its management
- Based upon assumptions with respect to future decisions, which are subject to change
- Actual results may vary and those variations may be material
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 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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