Bentley Systems Inc Stock Price, News & Analysis

Bentley Systems (Nasdaq: BSY) announced that CEO Greg Bentley will present virtually at the RBC Global Technology, Internet, Media & Telecom Conference on November 17, 2020, at 4:00 p.m. ET. As a leader in infrastructure engineering software, Bentley Systems provides innovative solutions to enhance global infrastructure across various sectors, including transportation, utilities, and industrial facilities. The company employs over 4,000 individuals and generates annual revenues exceeding $700 million, serving clients in 172 countries.

Bentley Systems has announced a public offering of 10 million shares of its Class B common stock at $32.00 per share. The offering includes 8,103,965 shares from Bentley and 1,896,035 shares from existing stockholders, with a 30-day underwriter option for an additional 1.5 million shares. The offering is set to close on November 17, 2020, subject to standard conditions. Bentley plans to use proceeds to repay existing debt, while it will not receive funds from shares sold by stockholders.

Bentley Systems (Nasdaq: BSY) announced a public offering of 10,000,000 shares of Class B common stock, with 8,103,965 shares sold by the company and 1,896,035 shares from existing stockholders. The underwriters may also purchase an additional 1,500,000 shares within 30 days. Proceeds will be used to repay existing indebtedness. The offering is subject to market conditions, and there are no guarantees regarding its completion or terms.

Bentley Systems (Nasdaq: BSY) has launched the Bentley iTwin Ventures, a $100 million corporate venture capital fund aimed at investing in technology companies that focus on infrastructure digital twin solutions. The fund will co-invest in startups that enhance design, simulation, construction, and operations of infrastructure assets like roads and bridges. Bentley's CEO, Greg Bentley, highlighted the goal of fostering a vibrant ecosystem around the iTwin Platform to support innovations in the digital twin sector.

Bentley Systems (BSY) reported Q3 2020 results with total revenues of $203.0 million, an increase of 8.8% year-over-year. Subscriptions revenues also grew to $173.2 million (+11.6%). Recurring revenues reached $682.7 million, maintaining a 110% dollar-based net retention rate. However, GAAP operating income decreased to $5.3 million from $41.4 million, while GAAP net income fell to $5.8 million. Full-year revenue projections range between $790 million and $800 million (+7.2% to +8.6%).

Bentley Systems (Nasdaq: BSY) is set to release its third quarter 2020 earnings on November 10, 2020, before market opening. A live presentation will be conducted via Zoom at 8:30 a.m. ET on the same day. CEO Greg Bentley will also present at the Baird Global Industrial Virtual Conference on November 11, 2020, at 7:05 a.m. ET. The company, which focuses on infrastructure engineering software, reported annual revenues exceeding $700 million and operates in 172 countries.

Bentley Systems (Nasdaq: BSY) has announced the winners of the Year in Infrastructure 2020 Awards, recognizing outstanding infrastructure projects by its users worldwide. A total of 57 finalists were selected from over 400 nominations submitted by more than 330 organizations across 60 countries. The awards ceremony took place virtually on October 21. Notable awardees include HDR for Advancing Project and Asset Longevity and DPR Construction for 4D Digital Construction. All award winners and finalists will be featured in the forthcoming 2020 Infrastructure Yearbook.

Bentley Systems (Nasdaq: BSY) has successfully filled three key executive positions following its IPO on September 23. This strategic move aims to enhance the company's leadership and operational capabilities. Nicholas Cumins takes on the role of Chief Product Officer, Katriona Lord-Levins becomes Chief Success Officer, and Chris Bradshaw is appointed Chief Marketing Officer. These executives bring extensive experience from leading technology firms, aligning with Bentley's goal of fostering growth and user engagement in its infrastructure engineering software sector.

Bentley Systems announces its investment through The Cohesive Companies, acquiring Professional Construction Strategies Group Ltd (PCSG). This acquisition aims to enhance advisory services in infrastructure digital twins and BIM advancements globally. PCSG, based in the UK, provides expertise in digital transformation for built-environment owners, with over 50 professionals on board. The collaboration is expected to broaden service offerings and improve the digital transformation journey for clients, fortifying Bentley's market presence in advisory services.