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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.
Bentley Systems (NASDAQ: BSY) introduced its Bentley Infrastructure Cloud at the 2022 Year in Infrastructure Conference, integrating ProjectWise, SYNCHRO, and AssetWise systems for enhanced infrastructure management. This cloud-based platform utilizes the iTwin technology, allowing for real-time data access and digital twin creation throughout infrastructure lifecycles. New features include advanced project analytics, digital twin capabilities, and asset health monitoring solutions. These innovations aim to improve collaboration, reduce risks, and enhance project delivery efficiency for engineering firms.
Bentley Systems has announced significant enhancements to its construction management solutions, introducing SYNCHRO 4D and new applications SYNCHRO Cost and SYNCHRO Perform. These advancements aim to streamline project planning, management, and execution for construction firms, enabling better control over budgets and performance tracking. The tools incorporate advanced modeling capabilities and real-time data access, facilitating improved collaboration and decision-making across project stakeholders. The company's innovative approach addresses challenges such as resource gaps and supply chain disruptions, aiming to enhance profitability.
Bentley Systems (Nasdaq: BSY) announced positive financial results for Q3 2022, showcasing a total revenue of $268.3 million, a 6.7% increase year-over-year. Subscription revenues climbed to $235.3 million, reflecting a 9.4% growth. The company achieved a last twelve-month recurring revenue of $950.4 million, marking a 20.3% yearly growth. GAAP net income reached $37.0 million, compared to a loss of $48.0 million in Q3 2021. Operating income surged to $55.5 million, highlighting a robust recovery from previous losses.
Bentley Systems (Nasdaq: BSY) announced the integration of the Embodied Carbon in Construction Calculator (EC3) into its iTwin platform at COP27. This integration allows for streamlined carbon assessment in infrastructure projects at no cost, promoting transparency and sustainability. The EC3 tool, developed by Building Transparency, enables organizations to benchmark and reduce embodied carbon emissions from construction materials. Bentley's director emphasized the importance of this integration in achieving sustainable development goals, accelerating climate action, and enhancing carbon reporting efficiency.
Bentley Systems (Nasdaq: BSY) announced the release date for its third quarter 2022 operating results, set for November 8, 2022, before market opening. A live Zoom webinar will follow at 8:15 a.m. EST. The company will also participate in investor conferences, including the J.P. Morgan Digital Twin Seminar on November 9, and the Nasdaq International Investor Conference in London on December 6, followed by the Berenberg European Conference on December 7. All presentations will be accessible via their Investor Relations website.
FUKUI COMPUTER has formed a strategic partnership with Bentley Systems (BSY) to enhance digital transformation in Japan's infrastructure sector. This collaboration aims to address labor shortages and improve productivity by leveraging Bentley's iTwin platform and other advanced digital technologies. FUKUI COMPUTER plans to launch innovative digital solutions, including a new road design application using Bentley’s OpenRoads Designer. The partnership aligns with Japan's Ministry of Land, Infrastructure, Transport, and Tourism's efforts to modernize infrastructure management.
Bentley Systems (NASDAQ: BSY) has partnered with Genesys International to launch India's first 3D City Digital Twin Solution, utilizing Bentley's OpenCities 365 technology. This innovative project aims to map and survey urban India comprehensively, enhancing government and corporate services. Digital twins will facilitate improvements in urban governance, disaster management, and infrastructure efficiency. The initiative is expected to drive digital technology adoption across the infrastructure sector.
Bentley Systems announces finalists for the 2022 Going Digital Awards in Infrastructure, recognizing innovative projects by Bentley software users globally. The awards will honor 36 finalists selected from over 300 nominations spanning 12 categories, with winners announced on November 15 in London. This event aims to celebrate advancements in infrastructure design, construction, and operations. Bentley’s COO, Nicholas Cumins, expressed excitement for the in-person reunion after previous virtual events.
Bentley Systems (Nasdaq: BSY) has appointed Michael Campbell as chief product officer, enhancing its leadership in infrastructure engineering software. Joining from PTC (Nasdaq: PTC), Campbell will direct product strategy and development. Additionally, James Lawton becomes chief digital officer, while Claire Rutkowski transitions to SVP, CIO champion. Suzanne Little is promoted to chief colleague success officer. Bentley aims to leverage these leadership changes for sustained innovation and to advance its digital engineering applications.
Bentley Systems (NASDAQ: BSY) announced a $0.03 per share cash dividend for Q3 2022, payable on September 14, 2022, to stockholders of record as of September 8, 2022. With approximately $1 billion in annual revenues, Bentley provides infrastructure engineering software to various sectors globally. The company emphasizes that future dividend payments depend on their financial health and many factors, including macroeconomic conditions and regulatory changes.
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