BENTLEY SYSTEMS INC
For the period ended Jun 30, 2024. Filed Aug 6, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 6, 2024
BSY$45.24-0.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 1. Consolidated Statements of Operations
Consolidated Statements of Operations
| Three Months Ended · Six Months Ended | ||||
|---|---|---|---|---|
| June 30, | June 30, | |||
| 2024 | 2023 | 2024 | 2023 | |
| Revenues: | ||||
| Subscriptions | $297,444 | $259,243 | $604,533 | $537,088 |
| Perpetual licenses | 10,863 | 11,718 | 20,375 | 21,265 |
| Subscriptions and licenses | 308,307 | 270,961 | 624,908 | 558,353 |
| Services | 22,030 | 25,788 | 43,192 | 52,807 |
| Total revenues | 330,337 | 296,749 | 668,100 | 611,160 |
| Cost of revenues: | ||||
| Cost of subscriptions and licenses | 42,432 | 41,156 | 82,650 | 82,087 |
| Cost of services | 20,761 | 25,270 | 42,373 | 51,523 |
| Total cost of revenues | 63,193 | 66,426 | 125,023 | 133,610 |
| Gross profit | 267,144 | 230,323 | 543,077 | 477,550 |
| Operating expenses: | ||||
| Research and development | 65,709 | 70,117 | 134,080 | 137,917 |
| Selling and marketing | 57,129 | 54,364 | 111,515 | 106,505 |
| General and administrative | 54,854 | 39,258 | 101,336 | 86,065 |
| Deferred compensation plan | 883 | 3,777 | 6,682 | 7,923 |
| Amortization of purchased intangibles | 8,392 | 9,502 | 17,356 | 20,050 |
| Total operating expenses | 186,967 | 177,018 | 370,969 | 358,460 |
| Income from operations | 80,177 | 53,305 | 172,108 | 119,090 |
| Interest expense, net | (5,100) | (9,484) | (11,620) | (20,576) |
| Other income, net | 2,280 | 965 | 9,417 | 1,254 |
| Income before income taxes | 77,357 | 44,786 | 169,905 | 99,768 |
| (Provision) benefit for income taxes | (5,330) | 3,899 | (27,577) | (5,593) |
| Equity in net income of investees, net of tax | 19 | — | 28 | — |
| Net income | $72,046 | $48,685 | $142,356 | $94,175 |
| Per share information: | ||||
| Net income per share, basic | $0.23 | $0.16 | $0.45 | $0.30 |
| Net income per share, diluted | $0.22 | $0.15 | $0.44 | $0.29 |
| Weighted average shares, basic | 314,980,580 | 311,914,602 | 314,660,906 | 311,366,371 |
| Weighted average shares, diluted | 333,780,984 | 332,352,725 | 333,725,315 | 331,831,973 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.