Bentley Systems Inc Stock Price, News & Analysis

Bentley Systems (Nasdaq: BSY) reported its third quarter 2024 results, highlighting a 9.3% increase in total revenues to $335.2 million and a 12.0% rise in subscription revenues to $303.2 million. The company's ARR grew by 12% to $1,270.7 million. However, the operating income margin decreased to 20.5% from 24.0% last year. Net income per diluted share dropped to $0.13 from $0.16, while adjusted EPS increased to $0.24 from $0.22. Cash flows from operations improved to $86.1 million from $72.8 million. For the first nine months of 2024, total revenues were $1,003.3 million, up 9.3%, with subscription revenues at $907.8 million, up 12.4%. The company also announced a strategic partnership with Google and the acquisition of 3D geospatial company Cesium.

Blyncsy, a Bentley Systems (Nasdaq: BSY) company, has achieved the Google Cloud Ready - Sustainability designation in the Google Cloud Partner Advantage Program. The recognition comes for their AI-powered road maintenance and asset inventory technology, which helps state DOT agencies conduct automated roadway inspections using crowdsourced dash camera imagery and AI analytics.

The technology reduces carbon emissions by eliminating the need for manual road inspections, potentially removing thousands of pounds of carbon emissions annually per vehicle. Blyncsy's solution utilizes crowdsourced imagery from over 1 million vehicles, machine learning, and AI to provide intelligent roadway insights and automated asset management to local governments and state DOTs.

Blyncsy, a Bentley Systems (Nasdaq: BSY) company, has published a comprehensive public map of U.S. interstate highways displaying key roadway assets. The map utilizes AI image analysis of crowdsourced dash camera footage from over 1 million vehicles to detect more than 40 different road conditions and asset inventory issues in near-real time. This includes guardrail damage, missing signage, and road striping problems.

The system provides state DOTs with an efficient, cost-effective solution for monitoring highway safety and maintenance through an open API, offering advantages over traditional methods like LiDAR or manual road inspections. The data helps agencies better address safety, maintenance, and repair operations, particularly during natural disasters.

Bentley Systems announced the winners of the 2024 Going Digital Awards at their Year in Infrastructure event in Vancouver, Canada. The awards honor innovative use of Bentley software in infrastructure projects. 250 projects from 36 countries were nominated, with winners selected from 36 finalists across 12 categories.

Key winners include:

• JMT for Bridges and Tunnels
• Proicere for Construction
• Mott MacDonald and HDR for Facilities, Campuses, and Cities
• PowerChina Zhongnan Engineering for Process and Power Generation
• Department of Public Works and Highways for Roads and Highways

Additionally, Bentley recognized 16 projects with Founders' Honors, chosen by the company's founders to reflect their mission of advancing infrastructure for better quality of life.

Bentley Systems has announced the general availability of new Carbon Analysis capabilities in iTwin Experience to assess and reduce carbon impacts for more sustainable infrastructure. These capabilities enable infrastructure engineers to simplify carbon reporting, visualize embodied carbon, and rapidly explore alternatives for better designs.

The new features deliver a 'cradle-to-gate' assessment of a design's carbon footprint, from raw material extraction until it leaves the factory's gate. They seamlessly integrate design data with chosen carbon assessment tools, allowing professionals to link carbon footprints directly to design choices and see impacts dynamically change across iterations.

Key benefits include automated material quantification, easy reporting, and in-content 3D visualizations. WSP, an early user, reported significant time savings in creating carbon reports, reducing feedback loops from months to days.

Bentley Systems (Nasdaq: BSY) has unveiled OpenSite+, a groundbreaking generative AI application for civil site design. This innovative software promises to deliver optimized, accurate site designs up to 10 times faster than traditional methods. Key features include:

1. Enhanced Design Experience with Copilot: Enables real-time design changes through natural language interactions.
2. Layout Optimization: AI-powered design layout agent evaluates thousands of options in real-time.
3. Automated Drawing Production: Accelerates drawing production by up to 10 times with AI-powered annotation and labeling.
4. Smart Design Tools: Intelligent, editable objects for faster project completion.

OpenSite+ is built on Bentley's iTwin platform, ensuring seamless collaboration and data-centric workflows. Early adopter Joe Viscuso from Pennoni praised the software as a 'game-changer' for streamlining workflows and improving project completion times.

Bentley Systems unveiled its vision for open data ecosystems to advance infrastructure engineering at its Year in Infrastructure 2024 conference. CEO Nicholas Cumins emphasized the importance of open, flexible, and collaborative data sharing to address global infrastructure challenges. Bentley introduced its Base Infrastructure Schema, an open-source framework for structuring and organizing infrastructure data.

The company announced a partnership with Google to integrate geospatial data with Bentley's software, building on its recent acquisition of Cesium. Cumins highlighted AI as a paradigm shift for the industry, introducing OpenSite+ with generative AI capabilities and Bentley Asset Analytics, a new product portfolio leveraging AI for infrastructure asset management.

Bentley Systems has announced a strategic partnership with Google to integrate Google's high-quality geospatial content with Bentley's infrastructure engineering software and digital twin platform. This collaboration aims to improve infrastructure design, construction, and operation.

Key points of the partnership include:

• Integration of Google Maps Platform's geospatial content, including Photorealistic 3D Tiles, into Bentley software
• Collaboration with Google Cloud for AI-driven asset analytics insights
• Leveraging Bentley's recent acquisition of Cesium, creator of the 3D Tiles open standard used by Google

The partnership is expected to enhance digital workflows, address climate risk and aging infrastructure challenges, and improve project resilience and sustainability.

Bentley Systems (Nasdaq: BSY) has acquired 3D geospatial company Cesium, enhancing its digital twin capabilities. Cesium's open platform for 3D geospatial applications and its widely adopted 3D Tiles standard will be integrated with Bentley's iTwin Platform. This combination enables developers to create comprehensive digital twins of infrastructure networks and assets, offering enhanced visualization and decision-making tools.

The acquisition aims to provide a seamless alignment of 3D geospatial data with engineering, subsurface, IoT, reality, and enterprise data. Cesium's CEO, Patrick Cozzi, joins Bentley as chief platform officer. The move is expected to benefit clients like Komatsu, expanding their access to advanced digital twin technology for construction site monitoring and management.