BSYBentley Systems, Incorporated

$11B

Q1 2023 Earnings

Technology Software - Application

Income Statement

Revenue

$314M+14.1% YoY

Gross Profit

$247M78.6% margin

Operating Income

$66M20.9% margin

Net Income

$45M14.5% margin

EPS (Diluted)

$0.14

QoQ Revenue Growth

+9.6%

Cash Flow

Operating Cash Flow

$176M

Free Cash Flow

$172M

Stock-Based Comp.

$19M

Balance Sheet

Total Assets

$3.2B

Total Liabilities

$2.6B

Stockholders' Equity

$613M

Cash & Equivalents

$94M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$314M	$276M	+14.1%
Gross Profit	$247M	$220M	+12.5%
Operating Income	$66M	$57M	+16.2%
Net Income	$45M	$56M	-19.3%

Revenue Segments

Subscriptions And Licenses

$287M29%

Subscription and Circulation

$278M28%

Term License Subscriptions

$111M11%

Enterprise License Subscriptions

$104M10%

Enterprise License Subscriptions, E365 Subscriptions

$94M9%

SELECT Subscriptions

$63M6%

Service

$27M3%

Professional Services, Other

$23M2%

Perpetual Licenses

$10M1%

Professional Services, Recurring

$4M0%

Geographic Segments

United States, Canada, And Latin America

$168M54%

EMEA

$93M30%

Asia Pacific

$53M17%