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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.
Seequent, a Bentley Systems company, has unveiled Seequent Evo, a revolutionary cloud-based platform for geoscience collaboration and data management. The platform integrates data from both Seequent and third-party applications into a unified source, enabling seamless sharing and improved decision-making.
Two new applications have been launched alongside Evo: BlockSync, which manages and analyzes block model data in real-time, and Driver, a cloud-based tool utilizing machine learning for geological structure analysis. The platform features open APIs and will support AI functionality and custom integrations.
The launch addresses critical challenges in the mining industry, particularly the increasing demand for critical minerals and the shortage of geologists. Seequent's software is currently used by eight of the world's top 10 mining companies. The platform will be showcased at the PDAC Convention in Toronto from March 2-5, 2025.
Bentley Systems (BSY) reported strong Q4 2024 results with total revenues of $349.8M, up 12.6% year-over-year. Subscriptions revenues reached $315.6M, increasing 15.8%, while Annualized Recurring Revenues (ARR) grew to $1,283.3M.
For full-year 2024, total revenues were $1,353.1M, up 10.1%, with subscription revenues of $1,223.4M, up 13.2%. Operating income margin improved to 22.3% from 18.8% in 2023. The company maintained a healthy net retention rate of 110%.
Looking ahead to 2025, BSY expects total revenues between $1,461M-$1,490M, with subscription revenue growth of 10.5-12.5% in constant currency. The company increased its quarterly dividend to $0.07 per share, payable March 27, 2025.
Bentley Systems (Nasdaq: BSY) has opened nominations for its 2025 Going Digital Awards, a global program recognizing digital advancements in infrastructure. The awards ceremony will take place during the Year in Infrastructure Conference in Amsterdam on October 14-15, 2025.
The program, which has recognized over 5,250 infrastructure projects in its 20+ year history, features 12 categories including Bridges and Tunnels, Construction, Energy Production, and Water and Wastewater. Three finalists from each category will be selected by independent jurors to present their projects at the conference.
Finalists will receive an all-expenses-paid trip to Amsterdam to present their projects before industry peers and media. Winners will be announced on October 15, and featured projects will be published in Bentley's Infrastructure Yearbook. The nomination deadline is March 31, 2025.
Bentley Systems (Nasdaq: BSY), the infrastructure engineering software company, has scheduled its fourth quarter and full year 2024 financial results announcement for February 26, 2025, before market opening. The company's senior management will host a webcast at 8:15 a.m. ET to discuss the results. The earnings press release and webcast link will be accessible through the company's investor relations website prior to the event. A replay and transcript will be made available later the same day.
Bentley Systems (Nasdaq: BSY) has announced the appointment of James Lee as Chief Operating Officer. Lee joins from Google, where he served as General Manager for startups and artificial intelligence at Google Cloud. His prior experience includes 12 years at SAP, where he held COO positions for SAP Ariba, Fieldglass, and SAP Greater China.
The company is also consolidating its product development under Chief Technology Officer Julien Moutte. As a result, the Chief Product Officer role has become redundant, leading to Mike Campbell's departure from the company. This restructuring aims to better align product execution with technology strategy, particularly focusing on infrastructure AI opportunities.
Lee will be responsible for strengthening cross-functional alignment, driving operational excellence, and overseeing operations in China, Japan, and portfolio development, including Bentley Asset Analytics initiatives.
Bentley Systems (BSY) has announced a quarterly dividend declaration. The company's Board of Directors has approved a $0.06 per share dividend for the fourth quarter of 2024. The dividend will be paid on December 12, 2024, to stockholders of both Class A and Class B common stock who are on record as of the close of business on December 3, 2024.
Seequent and the International Geothermal Association (IGA) have announced a strategic partnership to promote geothermal energy as a sustainable renewable energy source. Seequent's software currently supports over half of the world's geothermal electricity production. The partnership aims to build clear messaging for the industry and promote best practices, with Seequent becoming a Diamond Sponsor for the 2026 World Geothermal Congress.
The collaboration focuses on advancing geothermal energy's role in providing reliable baseload power, particularly for AI-enabled data centers. According to recent UN reports, geothermal energy has greater potential for mitigating emissions by 2035 than carbon capture, bioenergy, or reducing coal mining methane emissions. The European geothermal capacity could grow eight-fold by 2050, while the US Department of Energy predicts a 26-fold increase.
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.