Bentley Systems Announces Third Quarter 2025 Results
Bentley Systems Announces Third Quarter 2025 Results Press Release November 5, 2025 EXTON, Pa.- Bentley Systems, Incorporated (Nasdaq: BSY),the infrastructure engineering software company, today announced results for the quarter ended September 30, 2025. Third Quarter 2025 Results Total revenues were $375.5 million, up 12.0% or 10.6% on a constant currency basis, year-over-year; Subscriptions revenues were $344.3 million, up 13.5% or 12.1% on a constant currency basis, year-over-year; Annualized Recurring Revenues (“ARR”) were $1,405.2 million as of September 30, 2025, compared to $1,270.7 million as of September 30, 2024, representing a constant currency ARR growth rate of 10.5%; Last twelve-month recurring revenues dollar-based net retention rate was 109%, consistent with the same period last year; Operating income margin was 22.5%, compared to 20.5% for the same period last year; Adjusted operating income less stock-based compensation expense (“AOI less SBC”) margin was 27.7%, compared to 26.7% for the same period last year; Net income per diluted share was $0.18, compared to $0.13 for the same period last year; Adjusted net income per diluted share (“Adjusted EPS”) was $0.27, compared to $0.24 for the same period last year; Cash flows from operations was $116.4 million, compared to $86.1 million for the same period last year; and Free cash flow was $110.7 million, compared to $84.3 million