BENTLEY SYSTEMS Reports Q2 Earnings Results for FY2023 on August 8th
August 14, 2023
🌥️Earnings Overview
On August 8, 2023, BENTLEY SYSTEMS ($NASDAQ:BSY) released their financial results for the second quarter of FY2023, ending June 30, 2023. Total revenue for the quarter was USD 296.8 million, showing a 10.6% growth compared to the same period in the prior year. Despite this, net income came in at USD 48.7 million, a 12.6% decrease from the same quarter in the year prior.
Share Price
On Tuesday, August 8th, BENTLEY SYSTEMS reported their second quarter earnings results for fiscal year 2023. BENTLEY SYSTEMS stock opened at $52.8 and closed at $50.6, down 0.8% from the prior closing price of $51.0. The strong performance of the software and consulting services segments drove the company to deliver improved results during the quarter. The company’s cloud-based software solutions were a key contributor to its success during the quarter.
Overall, BENTLEY SYSTEMS reported a strong performance in the second quarter of FY2023. The company’s software and consulting services segments delivered strong year-over-year growth that enabled it to achieve improved financial results for the quarter. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Bentley Systems. More…
| Total Revenues | Net Income | Net Margin |
| 1.17k | 156.87 | 12.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Bentley Systems. More…
| Operations | Investing | Financing |
| 362.41 | -75.91 | -298.71 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Bentley Systems. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.16k | 2.52k | 2.19 |
Key Ratios Snapshot
Some of the financial key ratios for Bentley Systems are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 14.9% | 7.2% | 19.5% |
| FCF Margin | ROE | ROA |
| 29.1% | 22.6% | 4.5% |
Analysis
GoodWhale has conducted an analysis of BENTLEY SYSTEMS‘s financials and our findings suggest that they are in a strong position. According to the Star Chart, BENTLEY SYSTEMS has a high health score of 8/10, indicating that they are well able to sustain future operations in times of crisis. Given the strength of BENTLEY SYSTEMS’s financials, we believe that it will be attractive to many types of investors. In particular, those looking for growth, profitability, and dividends may find this company a good investment. While BENTLEY SYSTEMS may be weaker in its asset holdings, the overall health score still indicates that it is a well-managed and profitable business. More…
Peers
The competition in the enterprise software market is heating up, with Bentley Systems, Inc. taking on iCetana Ltd, Jamf Holding Corp, and Sage Group (The) PLC. All three companies offer a suite of enterprise software products, and all are gunning for a share of the market. Bentley Systems has the advantage of being a well-established player in the market, with a suite of products that are well-regarded by customers. iCetana, Jamf, and Sage all have their own strengths and weaknesses, but all three are viable competitors that Bentley Systems will have to watch out for in the coming years.
– iCetana Ltd ($ASX:ICE)
Cetana Ltd is a publicly traded company with a market capitalization of 8.97 million as of 2022. The company has a return on equity of -90.79%. Cetana Ltd is engaged in the business of providing software and services to the energy sector. The company’s products and services include software for energy trading, risk management, and operation optimization; and consulting services for energy market analysis, energy policy, and regulation.
– Jamf Holding Corp ($NASDAQ:JAMF)
Jamf Holding Corp is a publicly traded company that provides enterprise management software for the Apple platform. The company has a market capitalization of $2.77 billion and a negative return on equity of 19.67%. Jamf Holding Corp’s products are used by organizations of all sizes to manage Apple devices and apps. The company’s software includes tools for managing apps, devices, and users; deploying and managing software updates; and protecting data.
– Sage Group (The) PLC ($LSE:SGE)
The Sage Group is a global provider of enterprise software and services. It has a market capitalization of 7.15 billion as of 2022 and a return on equity of 26.88%. The company offers a broad range of software and services for businesses of all sizes, including accounting, payroll, human resources, and customer relationship management. Sage also provides cloud-based solutions and mobile apps. The company has operations in over 24 countries and serves over 6 million customers worldwide.
Summary
BENTLEY SYSTEMS has reported its FY2023 Q2 earnings results with total revenue of USD 296.8 million, a 10.6% increase compared to the prior year. Despite the increase in revenue, net income has decreased 12.6% to USD 48.7 million. Investors should analyze the company’s position in the market, anticipate its future growth potential, and understand its financials to evaluate the sustainability of its performance. By analyzing the company’s financials, investors can make informed decisions on whether BENTLEY SYSTEMS is a suitable investment for their portfolio.
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