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Bentley Systems, Incorporated (symbol: BSY) is a global leader in providing comprehensive software solutions designed to support architects, engineers, geospatial professionals, constructors, and owner-operators in the design, construction, and operations of infrastructure. The company's offerings enable users to leverage information mobility across various disciplines and throughout the entire infrastructure lifecycle, ensuring better-performing projects and asset management.
Bentley's key products include MicroStation applications for information modeling, ProjectWise collaboration services for integrated project delivery, and AssetWise operations services to achieve intelligent infrastructure management. These solutions are complemented by Bentley's worldwide professional services and comprehensive managed services, ensuring robust support and service for users globally.
Bentley Systems is renowned for its strong commitment to its user community, delivering not just high-quality and integrated software solutions, but also pairing these products with exceptional service and support. The company offers a broad range of products via the cloud, desktop, and hybrid environments, catering to specific needs such as bridge and rail design.
Despite being relatively smaller than some of its peers, like Autodesk, Bentley Systems excels in its core specialty areas and has established a strong global presence. As of fiscal 2022, approximately 58% of the company's revenue was derived from outside the U.S., with significant contributions from regions such as EMEA (28%) and APAC (18%). The public works and utilities sector stands out as Bentley's largest end market, accounting for about two-thirds of the company's revenue.
With its focus on innovation and user-centric solutions, Bentley Systems continues to advance the infrastructure design and management industry, ensuring that its users can achieve unparalleled efficiency and performance in their projects.
Skydio has launched its 3D Scan software, revolutionizing drone-based asset inspections with advanced AI capabilities that automate data collection, making assessments up to 75% faster. This technology enhances safety and efficiency by eliminating the risks of manual inspections and generating precise datasets for infrastructure management. Bentley Systems has joined as a preferred partner in this ecosystem, enhancing photogrammetry solutions. Early users report significant improvements in data capture speed, team output, and reduced reinspection rates. The software is available for Skydio 2 and will soon be on Skydio X2, starting at $2,999 per year.
Bentley Systems, Incorporated (Nasdaq: BSY) has declared a quarterly cash dividend of $0.03 per share for Q2 2021. This dividend is payable on June 15, 2021, to stockholders on record as of the close of business on June 8, 2021. Bentley Systems is a leader in infrastructure engineering software, generating more than $800 million in annual revenues. The company emphasizes the potential impact of macroeconomic conditions and other factors on future dividends, citing risks related to the ongoing pandemic and changes in business needs.
Bentley Systems (Nasdaq: BSY) reported its Q1 2021 results with total revenues of $222.0 million, marking a 14.0% year-over-year increase. Subscription revenues reached $188.1 million, up 10.5%. The company's net income was $57.0 million, compared to $29.7 million in the same quarter last year, leading to a net income per diluted share of $0.18. Adjusted EBITDA rose to $82.8 million with a margin of 37.3%. Bentley announced the upcoming acquisition of Seequent for $900.0 million, expected to enhance its digital twin offerings.
Bentley Systems (Nasdaq: BSY) has launched the Bentley Education program, aimed at nurturing future infrastructure professionals in engineering, design, and architecture. Initially available in the UK, Australia, and several other countries, the program plans to expand to the US and Latin America by mid-summer. It offers no-cost learning licenses for over 40 Bentley applications, access to industry insights, and a competition called the Future Infrastructure Star Challenge 2021, promoting innovation in infrastructure projects.
Bentley Acceleration Initiatives has acquired Nadhi Information Technologies Pvt. Ltd., a Chennai-based firm specializing in project controls for construction supply chains. This strategic purchase aims to enhance Bentley's presence in the growing Asian infrastructure market, addressing the region's need for digital workflows. Nadhi, established in 2008, has developed mobile-enabled project controls and its nPulse software offers predictive analytics for better project management. While the acquisition will add around 30 employees, Nadhi's financials are not expected to materially impact Bentley's outlook for 2021.
Bentley Systems (Nasdaq: BSY) announced its first quarter 2021 operating results will be released before the market opens on May 11, 2021. A live Zoom webinar to discuss these results will take place at 8:30 a.m. Eastern time on the same day, accessible via registration. Additionally, the chief financial officer will present at the Daiwa Corporate Day on May 24, and CEO Greg Bentley will speak at two upcoming conferences on June 8 and June 15-16. Webcasts of these events will be available on their Investor Relations website.
Bentley Systems (Nasdaq: BSY) has acquired INRO Software, a leader in multimodal transportation planning and traffic simulation, enhancing Bentley's capabilities in mobility digital twins. This strategic move aligns with the anticipated infrastructure investments in the U.S. and the need for transportation systems to adapt to urbanization and carbon reduction. INRO's advanced solutions like Emme, Dynameq, and CityPhi integrate with Bentley's software to optimize mobility planning and infrastructure management across urban and regional scales.
Bentley Systems (Nasdaq: BSY) announced its development of applications on the NVIDIA Omniverse platform for enhanced visualization and simulation of digital twins in industrial and civil infrastructure projects. The integration with the Bentley iTwin platform aims to provide real-time, photorealistic visualization on various devices, enabling users to explore infrastructure digitally. CEO Greg Bentley emphasized that this collaboration will revolutionize infrastructure design and operations, enhancing client outcomes through realistic simulations.
The Cohesive Companies, a unit of Bentley Systems (Nasdaq: BSY), has acquired Ontracks Consulting, a leader in IBM Maximo implementation based in Edmonton, Canada. This acquisition aims to bolster enterprise asset management (EAM) and enhance digital twin capabilities for industries reliant on infrastructure such as energy and transportation. Ontracks brings extensive experience in integrating data from IoT and ERP systems. The strategic acquisition is set to amplify the strength of The Cohesive Companies’ Maximo business, as they focus on improving operational performance for their clients.
Bentley Acceleration Initiatives has launched OpenTower® iQ, a cutting-edge digital twin solution for telecom towers, created in collaboration with Visual Intelligence and Aeroprotechnik. This platform, powered by the Bentley iTwin technology, offers 3D visualization, predictive design, and real-time decision support, particularly for the 5G rollout. OpenTower iQ enhances operational efficiency and revenue assurance through AI-driven data analytics, automated inspections, and improved inventory management, thereby addressing the growing demand for accurate telecom infrastructure solutions.
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