Bentley Systems Q2 Earnings Beat Estimates, Revenues Rise Y/Y

Bentley Systems, Incorporated BSY reported second-quarter 2025 earnings of 32 cents per share, beating the Zacks Consensus Estimate by 10.3%. BSY’s second-quarter earnings grew 3.2% year over year.

BSY’s revenues increased 10.2% year over year to $364.1 million and beat the Zacks Consensus Estimate by 0.28%. Despite posting better-than-expected results, BSY stock lost 3.21% on Wednesday.

BSY’s Q2 Results in Detail

Segment-wise, BSY’s Subscriptions and licenses revenues were $343.6 million, which decreased 11.5% year over year, led by an increase in Subscriptions, offset by a decline in Perpetual licenses business. BSY’s Services revenues were $20.5 million, which decreased 7.1% year over year.

Geographically, BSY’s revenues from the Americas accounted for $194 million, accounting for 53.3% of the total revenues in the second quarter, which increased 10.1% year over year. Europe, the Middle East, and Africa (EMEA) revenues accounted for $105.4 million, representing 29% of the total revenues, up 10% year over year. Revenues from Asia-Pacific (APAC) accounted for $64.6 million, representing 17.8% of the total revenues, up 11.1% year over year.

Bentley Systems, Incorporated Price, Consensus and EPS Surprise

Bentley Systems, Incorporated price-consensus-eps-surprise-chart | Bentley Systems, Incorporated Quote

For the second quarter, BSY posted a gross profit of $295.3 million, representing an increase of 10.6% from the year-ago quarter’s $267.1 million. BSY’s gross margin in the second quarter of 2025 was 81.1%, up 20 basis points year over year.

BSY’s non-GAAP operating income increased to $124.5 million year over year from an operating income of $117.1 million in the year-ago quarter. The non-GAAP net income increased to $105.5 million from the year-ago quarter’s net income of $101.8 million.

BSY’s Balance Sheet & Cash Flow

BSY exited the reported quarter with cash and cash equivalents of $89.6 million compared with $83.6 million at the end of the prior quarter, with a long-term debt of $1.25 billion as ofJune 30, 2025.

Operating and free cash flow for the reported quarter were $61.1 million and $57 million, respectively.

BSY 2025 Guidance

For fiscal 2025, Bentley Systems expects total revenues to be in the range of $1,461 million to $1,490 million, or $1,481 million to $1,510 million in constant currency. The Zacks Consensus Estimates for BSY’s 2025 revenues is pegged at $1.48 billion, indicating year-over-year growth of 9.41%.

The company expects adjusted operating income less stock-based compensation margin to be approximately 28.5%, reflecting an annual improvement of 100 basis points.

Free cash flows are projected between $430 million and $470 million, up from the prior outlook range of $415-$455 million. Capital expenditures are expected to be approximately $20 million.

The Zacks Consensus Estimate for BSY’s 2025 earnings is pegged at $1.19, indicating year-over-year growth of 11.21%.

Zacks Rank & Stocks to Consider

BSY currently has a Zacks Rank #3 (Hold).

Alkami Technology ALKT, Arista Networks ANET and Amphenol APH are some better-ranked stocks that investors can consider in the broader Zacks Computer & Technology sector. While ANET and ALKT carry a Zacks Rank #2 (Buy) each, APH sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Alkami Technology shares have lost 41.7% year to date. The Zacks Consensus Estimate for Alkami Technology’s full-year 2025 earnings is pegged at 15 cents per share, up by 2 cents over the past 30 days, implying growth of 51.7% from the year-ago quarter’s reported figure.

Arista Networks shares have lost 25.6% year to date. The Zacks Consensus Estimate for ANET’s full-year fiscal 2025 earnings is pegged at 65 cents per share, up by a penny in the past 30 days, indicating year-over-year growth of 13.66%.

Amphenol shares have gained 57.7% year to date. The Zacks Consensus Estimate for Amphenol’s full-year 2025 earnings has been revised upward to $2.69 per share in the past seven days, indicating year-over-year growth of 42.33%.

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