Bentley Systems Inc Stock Price, News & Analysis

Bentley Systems (NASDAQ: BSY) has appointed Brock Ballard as Chief Revenue Officer, succeeding Gus Bergsma, who retires after contributing significantly since the company's acquisition of RAM International in 2005. Ballard, who joined Bentley in 2020, previously held sales leadership roles at major firms and is credited with driving considerable ARR growth. Additionally, Eric Boyer joins as Investor Relations Officer, aimed at enhancing investor communications. Boyer brings over 20 years of experience, having helped IHS Markit expand from $8 billion to $44 billion in market cap.

Bentley Systems (Nasdaq: BSY) announced the acquisition of Vetasi, an international consultancy focused on enterprise asset management (EAM) solutions, particularly IBM Maximo. This acquisition enhances Cohesive Group's capabilities, adding over 200 experts across Europe, Africa, and ASEAN. The integration aims to leverage synergies in cloud hosting and low-code development to provide enhanced service delivery. The deal positions Cohesive to better serve clients and expand its geographic reach, particularly in the EMEA and Asia Pacific regions.

Bentley Systems, Incorporated (NASDAQ: BSY) announced a $0.03 per share cash dividend for Q4 2022, payable on December 8, 2022, to stockholders on record as of November 30, 2022.

With annual revenues of approximately $1 billion and over 4,500 employees, Bentley provides infrastructure engineering software to support the design, construction, and operations of various projects globally.

Bentley Systems (NASDAQ: BSY) announced the winners of the 2022 Going Digital Awards in Infrastructure in London, recognizing outstanding projects that leverage Bentley software. This year, nearly 300 nominations were submitted by 180 organizations from 47 countries, with 36 finalists presenting their projects. The awards highlight excellence in various categories, including Bridges and Tunnels, Construction, and others. Bentley’s CEO Greg Bentley also shared insights during the event, emphasizing the importance of digital advancements in infrastructure.

Bentley Systems (Nasdaq: BSY) announced enhancements to its iTwin Platform at the 2022 Year in Infrastructure Conference. The new capabilities aim to extend the interoperability of infrastructure data, enabling better digital twin creation for design, construction, and operational workflows. Key products include iTwin Experience, which offers visualization tools for owner-operators, and iTwin Capture, allowing high-resolution 3D modeling using drones and sensors. With 42% of finalists in the 2022 Going Digital Awards leveraging iTwin, the platform positions Bentley at the forefront of infrastructure engineering innovation.

Bentley Systems (NASDAQ: BSY) introduced its Bentley Infrastructure Cloud at the 2022 Year in Infrastructure Conference, integrating ProjectWise, SYNCHRO, and AssetWise systems for enhanced infrastructure management. This cloud-based platform utilizes the iTwin technology, allowing for real-time data access and digital twin creation throughout infrastructure lifecycles. New features include advanced project analytics, digital twin capabilities, and asset health monitoring solutions. These innovations aim to improve collaboration, reduce risks, and enhance project delivery efficiency for engineering firms.

Bentley Systems has announced significant enhancements to its construction management solutions, introducing SYNCHRO 4D and new applications SYNCHRO Cost and SYNCHRO Perform. These advancements aim to streamline project planning, management, and execution for construction firms, enabling better control over budgets and performance tracking. The tools incorporate advanced modeling capabilities and real-time data access, facilitating improved collaboration and decision-making across project stakeholders. The company's innovative approach addresses challenges such as resource gaps and supply chain disruptions, aiming to enhance profitability.

Bentley Systems (Nasdaq: BSY) announced positive financial results for Q3 2022, showcasing a total revenue of $268.3 million, a 6.7% increase year-over-year. Subscription revenues climbed to $235.3 million, reflecting a 9.4% growth. The company achieved a last twelve-month recurring revenue of $950.4 million, marking a 20.3% yearly growth. GAAP net income reached $37.0 million, compared to a loss of $48.0 million in Q3 2021. Operating income surged to $55.5 million, highlighting a robust recovery from previous losses.

Bentley Systems (Nasdaq: BSY) announced the integration of the Embodied Carbon in Construction Calculator (EC3) into its iTwin platform at COP27. This integration allows for streamlined carbon assessment in infrastructure projects at no cost, promoting transparency and sustainability. The EC3 tool, developed by Building Transparency, enables organizations to benchmark and reduce embodied carbon emissions from construction materials. Bentley's director emphasized the importance of this integration in achieving sustainable development goals, accelerating climate action, and enhancing carbon reporting efficiency.