Bentley Systems Inc Stock Price, News & Analysis

Bentley Systems, a leader in infrastructure engineering software, has announced the Year in Infrastructure 2021 Founders’ Honorees. Acknowledging 22 organizations and individuals, this initiative highlights significant contributions to infrastructure and environmental goals. The honorees were selected from 230 nominations, with awards given for categories such as ES(D)G Advocacy and Infrastructure IoT. Notably, the company generates over $800 million in annual revenue, employing more than 4,000 professionals globally.

Bentley Systems, a leading infrastructure engineering software company, announced a cash dividend of $0.03 per share for Q4 2021. The dividend is payable on December 16, 2021 to shareholders of record as of December 9, 2021. With over $800 million in annual revenues and a workforce of more than 4,000 employees, Bentley Systems provides innovative software solutions for the design and operation of infrastructure projects globally.

Bentley Systems (NASDAQ: BSY) announced a definitive agreement to acquire Power Line Systems for approximately $700 million. This move is expected to enhance BSY's software offerings in grid integration and capitalize on the growing demand for modern energy infrastructure. Power Line Systems, recognized for its profitability and cash flow, will operate within BSY’s Grid Integration Group upon closing. The acquisition aligns with market needs surrounding the Infrastructure Investment and Jobs Act, which promises $65 billion in funding.

Bentley Systems (Nasdaq:BSY) reported Q3 2021 revenues of $248.5 million, a 23.7% increase year-over-year. Adjusted revenues rose to $251.4 million, with subscription revenues also up by 24% at $212.2 million. Despite a GAAP net loss of $50.1 million due to a one-time compensation charge, adjusted net income reached $56.3 million. Annualized Recurring Revenue (ARR) stood at $903.8 million, reflecting a 26% growth. The company projects continued growth as infrastructure spending increases, despite challenges from ongoing CAPEX downturns in industrial sectors.

Bentley Systems (Nasdaq: BSY) has announced key executive promotions effective January 1, 2022. Nicholas Cumins will become the new Chief Operating Officer, overseeing sales, marketing, and operations. Werner Andre is promoted to Chief Financial Officer, while David Hollister transitions to Chief Investment Officer. These changes reflect the company's growth and commitment to enhancing its investment strategies amid its evolving infrastructure digital twin ecosystem. CEO Greg Bentley expresses confidence in the team's collaborative leadership.

Bentley Systems (Nasdaq: BSY) has announced the global expansion of its Bentley Education program, providing free access to over 60 software applications for students and educators. This initiative targets middle schools to universities, aimed at developing digital skills for future infrastructure professionals. Since its pilot launch in May 2021, the program attracted over 500,000 users. The Bentley Education portal offers comprehensive training resources and industry insights, aligning with the growing demand for skilled workers in infrastructure.

SewerAI, a leader in sewer condition assessment, has secured $1.5 million in a venture funding round from Bentley Systems through the Bentley iTwin Ventures Fund. This funding aims to enhance SewerAI's AI-based solutions for sewer inspections. The company's cloud platform, AutoCode™, improves the efficiency and accuracy of inspections, addressing a critical need in managing aging sewer infrastructure. With the support of Bentley, SewerAI will further develop its offerings, contributing to environmental health by aiding municipalities in complying with regulations like the Clean Water Act.

Bentley Systems (Nasdaq: BSY) has announced the release date for its third quarter 2021 operating results, which will occur on November 9, 2021, before market opening. A live webinar will be held on the same day at 8:15 a.m. EST. Additionally, key executives will participate in two investor conferences: the JP Morgan Digital Twin Seminar on November 11 and the Nasdaq International Investor Conference on November 30. Bentley Systems specializes in infrastructure engineering software, providing solutions for various sectors.

Bentley Systems (NASDAQ:BSY) has partnered with Strides Engineering to promote a rail predictive maintenance solution in the Asia Pacific region. This collaboration follows the successful implementation of a Predictive Decision Support System (PDSS) for Singapore's MRT North-South and East-West lines, improving reliability metrics and achieving over 1 million kilometers between failure (MKBF). The partnership aims to leverage both companies' strengths to enhance decision-making in rail maintenance while continuing the PDSS rollout on the Circle Line.