Bentley Systems Inc Stock Price, News & Analysis

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.

Bentley Systems, Incorporated (Nasdaq: BSY), an infrastructure engineering software company, has announced a $0.06 per share dividend for the third quarter of 2024. This cash dividend will be payable on September 26, 2024, to all stockholders of record of Class A and Class B common stock as of the close of business on September 17, 2024. The declaration of this dividend by the Board of Directors demonstrates the company's commitment to returning value to shareholders and may indicate confidence in the company's financial stability and future prospects.

Bentley Systems (Nasdaq: BSY) has announced the finalists for the 2024 Going Digital Awards, showcasing innovative infrastructure projects worldwide. 36 finalists across 12 categories were selected from over 250 nominations from 36 countries. The winners will be revealed on October 9, 2024, at the JW Marriott Parq Vancouver during Bentley's Year in Infrastructure event.

The awards highlight projects utilizing advanced technologies like AI, digital twins, and immersive visualizations to enhance infrastructure development. Finalists represent diverse sectors including bridges, construction, facilities, power generation, rail, roads, structural engineering, and water management. The event celebrates the extraordinary work of Bentley's global users in advancing infrastructure for improved quality of life.

Bentley Systems (Nasdaq: BSY) reported strong Q2 2024 results with total revenues up 11.3% to $330.3 million. Subscription revenues grew 14.7% to $297.4 million, while Annualized Recurring Revenue (ARR) increased to $1,215.9 million, representing 11% constant currency growth. The company's operating income margin improved to 24.3% from 18.0% year-over-year, and adjusted EPS rose to $0.31 from $0.24.

Key growth drivers included Public Works/Utilities and North America, with rapid addition of new small and medium-sized accounts. The company highlighted traction in AI-based solutions for asset analytics. With the leadership transition, Greg Bentley became Executive Chair and Nicholas Cumins was promoted to CEO, expressing confidence in sustaining performance and exploring long-term growth initiatives.

Bentley Systems (Nasdaq: BSY) has been selected by the Pennsylvania Department of Transportation (PennDOT) for state-wide civil design solutions, extending their long-standing relationship. PennDOT has transitioned to Bentley's OpenRoads 3D design software and ProjectWise for CADD data management to support various engineering disciplines. This contract aims to accelerate infrastructure projects funded by the Infrastructure Investment and Jobs Act (IIJA).

Bentley has partnered with Pennsylvania firms Cedarville Engineering Group and Honor Engineer Company for this contract. PennDOT officials, including Secretary Mike Carroll, visited Bentley's headquarters to discuss the department's embrace of digital capabilities to improve project delivery.