Welcome to our dedicated page for Bentley Systems news (Ticker: BSY), a resource for investors and traders seeking the latest updates and insights on Bentley Systems stock.
Bentley Systems develops infrastructure engineering software used by engineering firms and owner-operators to design, build, and operate assets across transportation, water, energy, cities, and related infrastructure markets. Company news commonly covers quarterly results, annualized recurring revenue, non-GAAP operating measures, outlook commentary, dividends, repurchases, debt activity, and acquisition-driven expansion of its software portfolios.
Recurring product updates include digital twin and asset analytics software, ProjectWise connected data environments, OpenGround geotechnical data management, Seequent subsurface technology, and Blyncsy AI roadway analytics. Announcements also address cloud security authorizations, public-sector customer deployments, and Bentley’s Year in Infrastructure program recognizing use of its software in major infrastructure projects.
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.