BSYBentley Systems, Incorporated

$11B

Q4 2025 Earnings

Technology Software - Application

Income Statement

Revenue

$392M+11.9% YoY

Gross Profit

$321M81.9% margin

Operating Income

$79M20.0% margin

Net Income

$59M15.0% margin

EPS (Diluted)

$0.18

QoQ Revenue Growth

+4.3%

Cash Flow

Operating Cash Flow

$142M

Free Cash Flow

$136M

Stock-Based Comp.

$18M

Balance Sheet

Total Assets

$3.6B

Total Liabilities

$2.4B

Stockholders' Equity

$1.2B

Cash & Equivalents

$123M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$392M	$350M	+11.9%
Gross Profit	$321M	$282M	+13.8%
Operating Income	$79M	$61M	+27.8%
Net Income	$59M	$50M	+17.1%

Revenue Segments

Subscriptions And Licenses

$371M29%

Subscription and Circulation

$357M27%

Enterprise License Subscriptions

$163M13%

Enterprise License Subscriptions, E365 Subscriptions

$160M12%

Term License Subscriptions

$123M9%

SELECT Subscriptions

$71M5%

Service

$18M1%

Professional Services, Other

$17M1%

Perpetual Licenses

$14M1%

Professional Services, Recurring

$3M0%

Geographic Segments

United States, Canada, And Latin America

$201M51%

EMEA

$117M30%

Asia Pacific

$74M19%