Bentley Systems Inc Stock Price, News & Analysis

FUKUI COMPUTER has formed a strategic partnership with Bentley Systems (BSY) to enhance digital transformation in Japan's infrastructure sector. This collaboration aims to address labor shortages and improve productivity by leveraging Bentley's iTwin platform and other advanced digital technologies. FUKUI COMPUTER plans to launch innovative digital solutions, including a new road design application using Bentley’s OpenRoads Designer. The partnership aligns with Japan's Ministry of Land, Infrastructure, Transport, and Tourism's efforts to modernize infrastructure management.

Bentley Systems (NASDAQ: BSY) has partnered with Genesys International to launch India's first 3D City Digital Twin Solution, utilizing Bentley's OpenCities 365 technology. This innovative project aims to map and survey urban India comprehensively, enhancing government and corporate services. Digital twins will facilitate improvements in urban governance, disaster management, and infrastructure efficiency. The initiative is expected to drive digital technology adoption across the infrastructure sector.

Bentley Systems announces finalists for the 2022 Going Digital Awards in Infrastructure, recognizing innovative projects by Bentley software users globally. The awards will honor 36 finalists selected from over 300 nominations spanning 12 categories, with winners announced on November 15 in London. This event aims to celebrate advancements in infrastructure design, construction, and operations. Bentley’s COO, Nicholas Cumins, expressed excitement for the in-person reunion after previous virtual events.

Bentley Systems (Nasdaq: BSY) has appointed Michael Campbell as chief product officer, enhancing its leadership in infrastructure engineering software. Joining from PTC (Nasdaq: PTC), Campbell will direct product strategy and development. Additionally, James Lawton becomes chief digital officer, while Claire Rutkowski transitions to SVP, CIO champion. Suzanne Little is promoted to chief colleague success officer. Bentley aims to leverage these leadership changes for sustained innovation and to advance its digital engineering applications.

Bentley Systems (NASDAQ: BSY) announced a $0.03 per share cash dividend for Q3 2022, payable on September 14, 2022, to stockholders of record as of September 8, 2022. With approximately $1 billion in annual revenues, Bentley provides infrastructure engineering software to various sectors globally. The company emphasizes that future dividend payments depend on their financial health and many factors, including macroeconomic conditions and regulatory changes.

Bentley Systems reported strong financial results for Q2 and the first half of 2022. Total revenues increased to $268.3 million, a 19.8% rise, with subscription revenues at $232.2 million, up 24.5%. The ARR reached $971.9 million, an annual growth of 14%. GAAP net income grew to $55.7 million, translating to a GAAP net income margin of 20.8%. Adjusted EBITDA was $86.5 million, with a margin of 32.2%. The company also initiated a $200 million stock repurchase program to enhance shareholder value. Despite currency fluctuations, the outlook remains positive for the upcoming year.

Teralytics has acquired the Streetlytics mobility data business from Bentley Systems (BSY), enhancing its analytics capabilities in North America. Led by Michael Clarke, Streetlytics specializes in mobility analytics for advertising, real estate, and transportation planning. This strategic acquisition, which includes an investment from Bentley and integration of technology stacks, aims to create a global insights powerhouse in mobility analytics, benefiting various industries. The partnership is set to improve decision-making and operational efficiency in transportation systems.

Bentley Systems (Nasdaq: BSY) commends the Texas Department of Transportation (TxDOT) for its Bridge Digital Delivery initiative, which leverages Bentley's OpenBridge software for enhanced infrastructure projects starting June 1, 2022. This initiative employs Digital Twin models to optimize bidding and construction through intelligent 3D designs, promising improved project outcomes. TxDOT aims to deliver better mobility and economic opportunities while enhancing quality of life for Texans. Bentley expresses pride in partnering with TxDOT to advance infrastructure innovation in Texas.

Bentley Systems (NASDAQ: BSY) will release its second quarter 2022 operating results on August 9, 2022, before market opening. A live webinar will start at 8:15 a.m. EDT on the same day, accessible via a direct registration link. The company will also participate in various upcoming investor conferences, including the Wolfe TMT Conference on September 8, 2022, and the Goldman Sachs Communacopia Conference on September 15, 2022.