Welcome to our dedicated page for Bentley Systems news (Ticker: BSY), a resource for investors and traders seeking the latest updates and insights on Bentley Systems stock.
Bentley Systems develops infrastructure engineering software used by engineering firms and owner-operators to design, build, and operate assets across transportation, water, energy, cities, and related infrastructure markets. Company news commonly covers quarterly results, annualized recurring revenue, non-GAAP operating measures, outlook commentary, dividends, repurchases, debt activity, and acquisition-driven expansion of its software portfolios.
Recurring product updates include digital twin and asset analytics software, ProjectWise connected data environments, OpenGround geotechnical data management, Seequent subsurface technology, and Blyncsy AI roadway analytics. Announcements also address cloud security authorizations, public-sector customer deployments, and Bentley’s Year in Infrastructure program recognizing use of its software in major infrastructure projects.
Bentley Systems reported strong first-quarter results for 2022, with total revenues of $275.5 million, representing a 24.1% increase year-over-year. Subscription revenues rose 28.2% to $241.2 million. Last twelve-month recurring revenues reached $885.9 million with a net retention rate of 108%. Adjusted net income increased to $79.6 million, while adjusted EBITDA was $97.6 million. However, GAAP net income slightly decreased to $56.4 million due to external pressures, including impacts from Russia.
Bentley Systems (Nasdaq: BSY) will announce its first quarter 2022 operating results on May 10, 2022, before market opening. A live Zoom webinar will occur at 8:15 a.m. EDT, accessible via the Investor Relations website. Additionally, CEO Greg Bentley and CFO Werner Andre will present at the Nasdaq International Investor Conference and Berenberg Design Software Conference in London on June 14-15, 2022. Live webcasts and replays will be available on the company’s website.
Bentley Systems (Nasdaq: BSY) announced the call for nominations for the 2022 Going Digital Awards in Infrastructure, aimed at celebrating exemplary infrastructure projects that leverage digital advancements. Nominations are open until May 23, 2022, across multiple categories, including Bridges, Construction, and Water Management. This awards program has recognized over 4,400 projects globally since its inception in 2004. Finalists will be honored at a ceremony in location value='LU/gb.eng.london'London in Q4 2022, providing visibility to their digital innovations.
Bentley Systems has acquired ADINA R & D Inc., a leader in finite element analysis software, enhancing infrastructure resilience and digital twins. The acquisition integrates ADINA’s robust simulation capabilities with Bentley's iTwin platform, allowing for comprehensive safety and performance studies. Founded by Dr. Klaus-Jürgen Bathe, ADINA's software is utilized globally across civil and structural engineering sectors. Bentley aims to leverage this acquisition to advance infrastructure modeling, increasing efficiency and reliability in engineering applications.
Summary not available.
Bentley Systems, the infrastructure engineering software company (Nasdaq: BSY), reported strong fourth-quarter results for 2021, with revenues of $267.7 million, marking a 21.9% year-over-year increase. Subscription revenues rose 25.2% to $223.1 million. However, GAAP net income decreased to $38.6 million from $51.9 million in the previous year. The company announced a positive 2022 outlook, expecting revenues between $1,110 million and $1,140 million, a growth of 15% to 18%. Recent acquisitions, including Power Line Systems, aim to enhance its market position.
Bentley Systems, a leading infrastructure engineering software company, has declared a cash dividend of $0.03 per share for Q1 2022. This dividend is payable on March 15, 2022, to all stockholders of record as of March 8, 2022. Bentley Systems, which generates over $800 million annually and employs more than 4,000 staff globally, continues to provide innovative software solutions for infrastructure design and management.
Bentley Systems (NASDAQ: BSY) has successfully completed its acquisition of Power Line Systems for approximately $700 million in cash. Power Line Systems specializes in software for designing overhead electric power transmission lines. The acquisition, finalized with TA Associates, is expected to enhance Bentley's infrastructure engineering software portfolio. Bentley will provide a full-year financial outlook, including the impact of this acquisition, on March 1, 2022.
Bentley Systems (Nasdaq: BSY) announced promotions for Nicholas Cumins as COO and Werner Andre as CFO, effective January 2022, alongside CEO Greg Bentley's remarks on the positive impact of the U.S. Infrastructure Investment and Jobs Act. The company will report its fourth-quarter and full-year 2021 results and discuss its 2022 outlook on March 1, 2022, via a live webinar. Bentley Systems is focused on digital transformation in infrastructure engineering, with more than $800 million in annual revenues and a global presence in 172 countries.
Bentley Systems (Nasdaq:BSY) has acquired Advanced Resources and Risk Technology, LLC (AR2Tech), a Denver-based company specializing in geostatistical software. This acquisition enhances Seequent's capabilities in geostatistics, supporting its existing geological modeling solutions. The integration of AR2Tech's advanced algorithms is expected to improve workflows for mining, environmental sciences, and energy sectors, facilitating complex geospatial problem-solving. This strategic move aims to accelerate the development of new geostatistics solutions and expand Seequent's offerings.