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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 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.
Bentley Systems reported strong financial results for Q2 and the first half of 2022. Total revenues increased to $268.3 million, a 19.8% rise, with subscription revenues at $232.2 million, up 24.5%. The ARR reached $971.9 million, an annual growth of 14%. GAAP net income grew to $55.7 million, translating to a GAAP net income margin of 20.8%. Adjusted EBITDA was $86.5 million, with a margin of 32.2%. The company also initiated a $200 million stock repurchase program to enhance shareholder value. Despite currency fluctuations, the outlook remains positive for the upcoming year.
Teralytics has acquired the Streetlytics mobility data business from Bentley Systems (BSY), enhancing its analytics capabilities in North America. Led by Michael Clarke, Streetlytics specializes in mobility analytics for advertising, real estate, and transportation planning. This strategic acquisition, which includes an investment from Bentley and integration of technology stacks, aims to create a global insights powerhouse in mobility analytics, benefiting various industries. The partnership is set to improve decision-making and operational efficiency in transportation systems.
Bentley Systems (Nasdaq: BSY) commends the Texas Department of Transportation (TxDOT) for its Bridge Digital Delivery initiative, which leverages Bentley's OpenBridge software for enhanced infrastructure projects starting June 1, 2022. This initiative employs Digital Twin models to optimize bidding and construction through intelligent 3D designs, promising improved project outcomes. TxDOT aims to deliver better mobility and economic opportunities while enhancing quality of life for Texans. Bentley expresses pride in partnering with TxDOT to advance infrastructure innovation in Texas.
Bentley Systems (NASDAQ: BSY) will release its second quarter 2022 operating results on August 9, 2022, before market opening. A live webinar will start at 8:15 a.m. EDT on the same day, accessible via a direct registration link. The company will also participate in various upcoming investor conferences, including the Wolfe TMT Conference on September 8, 2022, and the Goldman Sachs Communacopia Conference on September 15, 2022.
Bentley Systems, Incorporated (BSY) has declared a cash dividend of $0.03 per share for Q2 2022, payable on June 23, 2022, to stockholders of record as of June 9, 2022. The company, specializing in infrastructure engineering software, generates annual revenues of approximately $1 billion and employs over 4,500 staff in 186 countries. The announcement highlights Bentley's ongoing commitment to returning value to its shareholders through dividends, though future dividend payments depend on the company's financial condition and operational results.
Bentley Systems (NASDAQ: BSY) has authorized a stock repurchase program allowing up to
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.
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