Dassault Systèmes: Solid third quarter with strong operational performance: Confirming full-year EPS growth on adjusted revenue outlook
Dassault Systèmes (DASTY) reported a solid Q3 2025 with total revenue up 5% to €1.46B, recurring revenue up 9% and subscription revenue up 16%. 3DEXPERIENCE software revenue rose 16% and 3DEXPERIENCE Cloud grew strongly. Non-IFRS operating margin reached 30.1% (up 100 bps) and non-IFRS diluted EPS was €0.29 (up 10% in constant currency). The group adjusted FY25 revenue growth to 4–6% (from 6–8%) while reaffirming a non-IFRS diluted EPS target of +7–10%. Cash flow and balance-sheet items include €1.33B cash from operations YTD and €3.91B cash and equivalents as of Sept 30, 2025.
Dassault Systèmes (DASTY) ha riportato un solido Q3 2025 con fatturato totale in crescita del 5% a €1,46 miliardi, ricavi ricorrenti in aumento del 9% e ricavi da abbonamenti up del 16%. Il fatturato software 3DEXPERIENCE è salito del 16% e il Cloud 3DEXPERIENCE è cresciuto in modo significativo. Il margine operativo non IFRS ha raggiunto il 30,1% (in aumento di 100 pb) e l’utile per azione diluito non IFRS è stato €0,29 (in crescita del 10% a tassi costanti). Il gruppo ha rettificato la crescita dei ricavi FY25 al 4–6% (dal 6–8%) pur ribadendo un obiettivo EPS diluito non IFRS di +7–10%. I flussi di cassa e gli elementi di bilancio includono €1,33 miliardi di cash flow da operazioni da inizio anno e €3,91 miliardi di cassa e equivalenti al 30 settembre 2025.
Dassault Systèmes (DASTY) informó de un sólido tercer trimestre de 2025 con ingresos totales un 5% más a 1,46 mil millones de euros, ingresos recurrentes un 9% y ingresos por suscripciones un 16%. Los ingresos de software 3DEXPERIENCE subieron un 16% y Cloud de 3DEXPERIENCE creció con fuerza. El margen operativo no IFRS alcanzó un 30,1% (sube 100 puntos básicos) y el beneficio por acción diluido no IFRS fue de €0,29 (un 10% más en moneda constante). El grupo ajustó la tasa de crecimiento de ingresos FY25 a 4–6% (desde 6–8%) mientras reafirmaba un objetivo de EPS diluido no IFRS de +7–10%. El flujo de caja y los elementos del balance incluyen €1,33 mil millones de caja procedente de operaciones en lo que va del año y €3,91 mil millones en efectivo y equivalentes al 30 de septiembre de 2025.
Dassault Systèmes (DASTY)는 2025년 3분기에 매출 총액이 5% 증가한 14.6억 유로, 반복 매출은 9% 증가, 구독 매출은 16% 증가했다고 발표했습니다. 3DEXPERIENCE 소프트웨어 매출은 16% 상승했고 3DEXPERIENCE 클라우드도 강하게 성장했습니다. IFRS 비 적용 지표가 아닌 영업이익률은 30.1%에 도달했고 IFRS 비적용 희석 주당순이익은 €0.29로(통화 고정 기준 10% 상승) 발표되었습니다. 그룹은 FY25 매출 성장 전망을 4–6%로 조정했으며(원래는 6–8%) 비 IFRS 희석 EPS 목표를 +7–10% 로 재확인했습니다. 현금 흐름 및 대차대조표 항목으로는 연초부터의 영업활동 현금흐름 €1.33B와 2025년 9월 30일 기준 현금 및 현금성자산 €3.91B가 포함됩니다.
Dassault Systèmes (DASTY) a annoncé un solide T3 2025 avec un chiffre d’affaires total en hausse de 5% à 1,46 milliard d’euros, des revenus récurrents en hausse de 9% et des revenus d’abonnement en hausse de 16%. Le chiffre d’affaires des logiciels 3DEXPERIENCE a augmenté de 16% et le Cloud 3DEXPERIENCE a fortement crû. La marge opérationnelle non IFRS a atteint 30,1% (en hausse de 100 points de base) et le bénéfice par action dilué non IFRS était de €0,29 (en hausse de 10% à taux de change constants). Le groupe a ajusté la croissance du chiffre d’affaires FY25 à 4–6% (au lieu de 6–8%) tout en réaffirmant un objectif de BPA dilué non IFRS de +7–10%. Le flux de trésorerie et les postes du bilan incluent €1,33B de flux de trésorerie d’exploitation depuis le début de l’année et €3,91B en liquidités et équivalents au 30 septembre 2025.
Dassault Systèmes (DASTY) meldete ein solides Q3 2025 mit insgesamt 5% mehr Umsatz auf €1,46 Mrd., wiederkehrende Einnahmen +9% und Abonnement-Einnahmen +16%. Der Umsatz von 3DEXPERIENCE-Software stieg um 16% und die 3DEXPERIENCE-Cloud wuchs stark. Die nicht IFRS-Operation Margin erreichte 30,1% (plus 100 Basispunkte) und der nicht IFRS-Diluted-EPS betrug €0,29 (10% Anstieg bei konstanten Wechselkursen). Die Gruppe hat das FY25-Umsatzwachstum auf 4–6% angepasst (von 6–8%) und bekräftigte gleichzeitig ein nicht IFRS Diluted EPS-Ziel von +7–10%. Cashflow und Bilanzpositionen umfassen €1,33B Cash from Operations Year-to-Date und €3,91B an Barmitteln und Äquivalenten zum 30. Sep. 2025.
Dassault Systèmes (DASTY) أبلغت عن ربع ثالث قوي لعام 2025 مع إيرادات إجمالية ارتفعت بنسبة 5% إلى 1.46 مليار يورو، وإيرادات متكررة بزيادة 9% وإيرادات اشتراك بارتفاع 16%. إيرادات برمجيات 3DEXPERIENCE ارتفعت 16% وارتفع سحابة 3DEXPERIENCE بشكل قوي. بلغت الهامش التشغيلي غير IFRS 30.1% (ارتفاع بمقدار 100 نقطة أساس) وكان ربح السهم المخفف غير IFRS €0.29 (ارتفاع 10% بثبات سعر الصرف). عدّلت المجموعة نمو الإيرادات FY25 إلى 4–6% (من 6–8%) بينما أعادت التأكيد على هدف ربحية السهم المخفف غير IFRS +7–10%. تتضمن التدفقات النقدية وعناصر الميزانية €1.33B من النقد من العمليات حتى تاريخه و €3.91B من النقد وما يعادله حتى 30 سبتمبر 2025.
达索系统（Dassault Systèmes，DASTY） 报告显示 2025 年第 3 季度表现稳健，总收入同比增长 5%，至 14.6 亿欧元，经常性收入增长 9%，订阅收入增长 16%。3DEXPERIENCE 软件收入增长 16%，3DEXPERIENCE 云端增长强劲。非 IFRS 运营利润率达到 30.1%（上升 100 个基点），非 IFRS 摊薄每股收益为 €0.29（以恒定汇率计增 10%）。集团将 FY25 收入增长目标调整为 4–6%（原为 6–8%），同时重申 非 IFRS 摊薄每股收益目标为 +7–10%。现金流及资产负债表项目包括年初至今经营活动现金流 €1.33B，以及截至 2025 年 9 月 30 日的现金及等价物 €3.91B。
- Total revenue +5% to €1.46B in Q3 2025
- Recurring revenue +9%; subscription revenue +16% in Q3
- 3DEXPERIENCE software revenue +16% in Q3
- Non-IFRS operating margin 30.1%, +100 bps year-over-year
- Cash from operations €1.33B for first nine months 2025
- Full-year revenue outlook trimmed to 4–6% from 6–8%
- Licenses and other software revenue down 13% to €189M in Q3
- Life Sciences software revenue down 3% in Q3
- IFRS diluted EPS down 6% year-to-date to €0.57
Press Release
VELIZY-VILLACOUBLAY, France — October 23, 2025
Dassault Systèmes: Solid third quarter with strong operational performance
Confirming full-year EPS growth on
adjusted revenue outlook
Dassault Systèmes (Euronext Paris: FR0014003TT8, DSY.PA) today reports its IFRS unaudited estimated financial results for the third quarter 2025 and nine months ended September 30, 2025. The Group’s Board of Directors approved these estimated results on October 22, 2025. This press release also includes financial information on a non-IFRS basis and reconciliations with IFRS figures in the Appendix.
Summary Highlights1
(unaudited, IFRS and non-IFRS unless otherwise noted,
all growth rates in constant currencies)
- 3Q25: Total revenue up
5% to€1.46 billion , with software revenue up5% ; - 3Q25: Recurring revenue up
9% , driven by strong subscription revenue up16% ; - 3Q25: 3DEXPERIENCE software revenue up
16% ; - 3Q25: Non-IFRS operating margin of
30.1% , up 100 basis points versus last year; - 3Q25: Non-IFRS diluted EPS up
10% to€0.29 ; - FY25: Adjusting full-year revenue growth outlook to 4
-6% (previously 6-8% ), while reaffirming non-IFRS diluted EPS target of 7-10% growth.
Dassault Systèmes’ Chief Executive Officer Commentary
Pascal Daloz, Dassault Systèmes’ Chief Executive Officer, commented:
“Our third-quarter performance reflects the strength and resilience of our business model. We delivered solid results, with healthy margins, strong EPS, and continued growth in recurring revenue. Our core fundamentals remain robust: strong momentum in Industrial Innovation, accelerating growth in SOLIDWORKS, excellent traction with 3DEXPERIENCE, and a standout performance in Transportation & Mobility, where we continue to expand our footprint, despite ongoing challenges in the sector. These results speak to our disciplined execution and the enduring value we deliver across industries.
In the field of AI, we are shaping the future with a powerful combination of the industry's most comprehensive data sets, scientific rigor, advanced modeling and simulation, and real-world validation. AI is not an add-on — it’s embedded at the core of our 3DEXPERIENCE platform. With innovative AI-powered solutions like Virtual Twin as a Service, Companion, and Generative Experience, we are creating new categories of software to transform the way industries design, produce, and operate the lifecycle.
We are not just participating in the industrial AI revolution; with 3D UNIV+RSES we are leading it. With major developments planned for 2026 and 2027, we’re just getting started”.
Dassault Systèmes’ Chief Financial Officer Commentary
(revenue, operating margin and diluted EPS (“EPS”) growth rates in constant currencies,
data on a non-IFRS basis)
Rouven Bergmann, Dassault Systèmes’ Chief Financial Officer, commented:
“In Q3, we saw the benefits of our productivity measures, driving operating margin to
Total revenue increased
What stands out is the very durable growth in Industrial Innovation, up
Looking at the full-year, our operating model is resilient and we are committed to delivering operating margin expansion. Therefore, we reaffirm our diluted EPS target of 7
Financial Summary
| In millions of Euros, except per share data and percentages | IFRS | IFRS | ||||||||
| Q3 2025 | Q3 2024 | Change | Change in constant currencies | YTD 2025 | YTD 2024 | Change | Change in constant currencies | |||
| Total Revenue | 1,460.1 | 1,463.9 | (0)% | 4,554.7 | 4,459.3 | |||||
| Software Revenue | 1,313.7 | 1,312.4 | 4,119.2 | 4,011.8 | ||||||
| Operating Margin | +1.8pt | (1.0)pt | ||||||||
| Diluted EPS | 0.20 | 0.18 | 0.57 | 0.61 | (6)% | |||||
| In millions of Euros, except per share data and percentages | Non-IFRS | Non-IFRS | ||||||||
| Q3 2025 | Q3 2024 | Change | Change in constant currencies | YTD 2025 | YTD 2024 | Change | Change in constant currencies | |||
| Total Revenue | 1,461.5 | 1,463.9 | ( | 4,557.6 | 4,459.3 | |||||
| Software Revenue | 1,315.1 | 1,312.4 | 4,122.1 | 4,011.8 | ||||||
| Operating Margin | +0.5pt | (0.1)pt | ||||||||
| Diluted EPS | 0.29 | 0.29 | 0.91 | 0.89 | ||||||
Third Quarter 2025 Versus 2024 Financial Comparisons
(unaudited, IFRS and non-IFRS unless otherwise noted,
all revenue growth rates in constant currencies)
- Total Revenue: Total revenue in the third quarter grew
5% to€1.46 billion , and software revenue increased by5% to€1.32 billion in non-IFRS (€1.31 billion in IFRS). Subscription & support revenue rose9% ; recurring revenue represented86% of software revenue, up 3 percentage points compared to last year. Licenses and other software revenue was down13% to€189 million . Services revenue increased1% to€146 million , during the quarter. - Software Revenue by Geography: The Americas revenue increased by
7% , driven by Transportation & Mobility, High-Tech and Aerospace & Defense. The Americas represented41% of software revenue. Europe grew by4% (up3% in IFRS) to36% of software revenue, with solid performance in France and Germany supported by subscription momentum, especially in Aerospace & Defense. In Asia, revenue rose4% led by strong growth in India and double-digit growth in Korea. Asia represented22% of software revenue in the third quarter. - Software Revenue by Product Line:
- Industrial Innovation software revenue rose
9% to€717 million , led by CATIA, DELMIA and ENOVIA. Industrial Innovation software represented55% of software revenue, during the period. - Life Sciences software revenue was down
3% at€257 million , to account for20% of software revenue. MEDIDATA continues to face headwinds due to study starts decline. - Mainstream Innovation software revenue increased by
4% to€341 million (up3% to€340 million in IFRS), and represented26% of software revenue. SOLIDWORKS saw good momentum, and CENTRIC PLM moving towards SaaS.
- Industrial Innovation software revenue rose
- Software Revenue by Industry: Transportation & Mobility, Aerospace & Defense and Industrial Equipment were the best contributors to growth this quarter.
- Key Strategic Drivers: 3DEXPERIENCE software revenue increased
16% and represented40% of 3DEXPERIENCE Eligible software revenue. Cloud software revenue grew8% , representing26% of software revenue during the period. 3DEXPERIENCE Cloud software revenue increased36% in constant currencies. - Operating Income and Margin: IFRS operating income increased
9% , to€302 million , as reported. Non-IFRS operating income rose8% at€440 million , as reported. The IFRS operating margin stood at20.7% compared to18.9% in the third quarter of 2024. The non-IFRS operating margin totaled30.1% , versus29.6% in the same period of last year. - Earnings per Share: IFRS diluted EPS was
€0.20 , increasing10% as reported. Non-IFRS diluted EPS grew to€0.29 , up2% as reported and up10% in constant currencies.
Nine Months Ended 2025 Versus 2024 Financial Comparisons
(unaudited, IFRS and non-IFRS unless otherwise noted,
all revenue growth rates in constant currencies)
- Total Revenue: Total revenue increased
5% to€4.56 billion (up4% to€4.55 billion in IFRS), and software revenue increased5% to€4.12 billion . Subscription and support revenue rose7% to€3.46 billion ; recurring revenue represented84% of total software revenue. Licenses and other software revenue decreased6% to€663 million . Services revenue was down1% to€436 million . - Software Revenue by Geography: The Americas grew
6% while Europe and Asia all grew5% , representing respectively40% ,37% and23% of software revenue. - Software Revenue by Product Line:
- Industrial Innovation software revenue rose
8% to€2.25 billion and represented55% of software revenue. CATIA, SIMULIA, ENOVIA and DELMIA were among the strongest contributors to growth. - Life Sciences software revenue decreased
1% to€818 million , representing20% of software revenue. - Mainstream Innovation software revenue increased by
3% to€1.05 billion . Mainstream Innovation represented25% of software revenue.
- Industrial Innovation software revenue rose
- Software Revenue by Industry: Transport & Mobility, Aerospace & Defense, High Tech and Industrial Equipment were among the strongest contributors to growth.
- Key Strategic Drivers: 3DEXPERIENCE software revenue increased by
18% , representing40% of 3DEXPERIENCE Eligible software revenue. Cloud software revenue grew7% , and represented25% of software revenue. 3DEXPERIENCE Cloud software revenue increased29% in constant currencies. - Operating Income and Margin: IFRS operating income was down
3% , to€848 million , as reported. Non-IFRS operating income increased5% to€1.37 billion , as reported. IFRS operating margin totaled18.6% compared to19.6% for the same period in 2024. Non-IFRS operating margin stood at30.1% in the first nine months of 2025, compared to30.2% in the same period last year. - Earnings per Share: IFRS diluted EPS was
€0.57 , a decrease of6% as reported. Non-IFRS diluted EPS grew by2% to€0.91 , as reported, or6% in constant currencies. - Cash Flow from Operations (IFRS): Cash flow from operations totaled
€1.33 billion for the first nine months of 2025, compared to€1.35 billion last year. Cash flow from operations was principally used for the acquisition of ContentServ for€189 million , net repurchase of Treasury Shares for€337 million , dividend payments for€343 million and increase in the stake in Centric Software for€216 million . - Balance Sheet (IFRS): Dassault Systèmes’ net financial position totaled
€1.32 billion as of September 30, 2025 compared to€1.46 billion for the year ended December 31, 2024. Cash and cash equivalents totaled€3.91 billion as of September 30, 2025.
Financial Objectives for 2025
Dassault Systèmes’ fourth quarter and 2025 financial objectives presented below are given on a non-IFRS basis and reflect the principal 2025 currency exchange rate assumptions for the US dollar and Japanese yen as well as the potential impact from additional non-Euro currencies:
| Q4 2025 | FY 2025 | ||||
| Total Revenue (billion) | |||||
| Growth | (3) - | 1 - | |||
| Growth ex FX | 1 - | 4 - | |||
| Software revenue growth * | 1 - | 4 - | |||
| Of which licenses and other software revenue growth * | (13) - | (8) - | |||
| Of which recurring revenue growth * | 5 - | 7 - | |||
| Services revenue growth * | 5 - | 1 - | |||
| Operating Margin | |||||
| EPS Diluted | |||||
| Growth | 2 - | 2 - | |||
| Growth ex FX | 7 - | 7 - | |||
| US dollar | |||||
| Japanese yen (before hedging) | JPY 170.0 per Euro | JPY 166.7 per Euro | |||
| * Growth in Constant Currencies | |||||
These objectives are prepared and communicated only on a non-IFRS basis and are subject to the cautionary statement set forth below.
The 2025 non-IFRS financial objectives set forth above do not take into account the following accounting elements below and are estimated based upon the 2025 principal currency exchange rates above: contract liabilities write-downs estimated at approximately
The above objectives also do not include any impact from other operating income and expenses, net principally comprised of acquisition, integration and restructuring expenses, and impairment of goodwill and acquired intangible assets; from one-time items included in financial revenue; from one-time tax effects; and from the income tax effects of these non-IFRS adjustments. Finally, these estimates do not include any new acquisitions or restructuring completed after September 30, 2025.
Corporate Announcements
- October 23, 2025: Sanofi Deepens Partnership with MEDIDATA to Expedite the Development of New Therapies with an Improved Patient Journey
- September 18, 2025: Grundfos Chooses Dassault Systèmes’ 3DEXPERIENCE Platform on the Cloud for Its Sustainable Business Transformation
- September 16, 2025: NCC Moves to the Cloud with Dassault Systèmes to Turn Cutting-Edge Research and Technology into Industrial Impact
- September 2, 2025: MEDIDATA Secures a Leader Position in Everest Group’s PEAK Matrix Assessment for eCOA, Driving the New Patient Experience Forward
- August 15, 2025: MEDIDATA Accelerates Business Transformation with Lisa Moneymaker as Chief Strategy Officer
- July 4, 2025: Dassault Systèmes Accelerates Its Factory Virtual Twin Strategy Execution with Acquisition of Automation Technology
- July 4, 2025: Indian Aircraft Manufacturing Company Raphe mPhibr Revolutionizes Unmanned Aerial Vehicle Innovation with Dassault Systèmes’ 3DEXPERIENCE Platform
- July 1, 2025: Unified Data Experience from MEDIDATA Paves Way for New Industry Standard Across Leading Biopharma Companies and Contract Research Organizations
Today’s Webcast and Conference Call Information
Today, Thursday, October 23, 2025, Dassault Systèmes will host in Paris a webcasted presentation at 9:00 AM London Time / 10:00 AM Paris time, and will then host a conference call at 8:30 AM New York time / 1:30 PM London time / 2:30 PM Paris time. The webcasted presentation and conference calls will be available online by accessing investor.3ds.com.
Additional investor information is available at investor.3ds.com or by calling Dassault Systèmes’ Investor Relations at +33.1.61.62.69.24.
Investor Relations Events
- Fourth Quarter 2025 Earnings Release: February 11, 2026
- First Quarter 2026 Earnings Release: April 23, 2026
- Second Quarter 2026 Earnings Release: July 23, 2026
- Third Quarter 2026 Earnings Release: October 28, 2026
Forward-looking Information
Statements herein that are not historical facts but express expectations or objectives for the future, including but not limited to statements regarding the Group’s non-IFRS financial performance objectives are forward-looking statements. Such forward-looking statements are based on Dassault Systèmes management's current views and assumptions and involve known and unknown risks and uncertainties. Actual results or performances may differ materially from those in such statements due to a range of factors.
The Group’s actual results or performance may be materially negatively affected by numerous risks and uncertainties, as described in the “Risk Factors” section 1.9 of the 2024 Universal Registration Document (‘Document d'enregistrement universel’) filed with the AMF (French Financial Markets Authority) on March 18, 2025, available on the Group’s website www.3ds.com.
In particular, please refer to the risk factor “Uncertain Global Environment” in section 1.9.1.1 of the 2024 Universal Registration Document set out below for ease of reference:
“In light of the uncertainties regarding economic, business, social, health and geopolitical conditions at the global level, Dassault Systèmes’ revenue, net earnings and cash flows may grow more slowly, whether on an annual or quarterly basis, mainly due to the following factors:
- the deployment of Dassault Systèmes’ solutions may represent a large portion of a customer’s investments in software technology. Decisions to make such an investment are impacted by the economic environment in which the customers operate. Uncertain global geopolitical, economic and health conditions and the lack of visibility or the lack of financial resources may cause some customers, e.g. within the automotive, aerospace, energy or natural resources industries, to reduce, postpone or cancel their investments, or to reduce or not renew ongoing paid maintenance for their installed base, which impact larger customers’ revenue with their respective sub-contractors;
- the political, economic and monetary situation in certain geographic regions where Dassault Systèmes operates could become more volatile and negatively affect Dassault Systèmes’ business, and in particular its revenue, for example, due to stricter export compliance rules or the introduction of new customs barriers or controls on the exchange of goods and services;
- continued pressure or volatility on raw materials and energy prices could also slow down Dassault Systèmes’ diversification efforts in new industries;
- uncertainties regarding the extent and duration of costs inflation could adversely affect the financial position of Dassault Systèmes; and
- the sales cycle of the Dassault Systèmes’ products – already relatively long due to the strategic nature of such investments for customers – could further lengthen.
The occurrence of crises – health and political crises in particular – could have consequences both for the health and safety of Dassault Systèmes’ employees and for the Company. It could also adversely impact the financial situation or financing and supply capabilities of Dassault Systèmes’ existing and potential customers, commercial and technology partners, some of whom may be forced to temporarily close sites or to cease operations. A deteriorating economic environment could generate increased price pressure and affect the collection of receivables, which would negatively affect Dassault Systèmes’ revenue, financial performance and market position.
Dassault Systèmes makes every effort to take into consideration this uncertain outlook. Dassault Systèmes’ business results, however, may not develop as anticipated. Furthermore, due to factors affecting sales of Dassault Systèmes’ products and services, there may be a substantial time lag between an improvement in global economic and business conditions and an upswing in the Company’s business results.”
In preparing such forward-looking statements, the Group has in particular assumed an average US dollar to euro exchange rate of US
Non-IFRS Financial Information
Readers are cautioned that the supplemental non-IFRS financial information presented in this press release is subject to inherent limitations. It is not based on any comprehensive set of accounting rules or principles and should not be considered in isolation from or as a substitute for IFRS measurements. The supplemental non-IFRS financial information should be read only in conjunction with the Company’s consolidated financial statements prepared in accordance with IFRS. Furthermore, the Group’s supplemental non-IFRS financial information may not be comparable to similarly titled “non-IFRS” measures used by other companies. Specific limitations for individual non-IFRS measures are set forth in the Company’s 2024 Universal Registration Document filed with the AMF on March 18, 2025.
In the tables accompanying this press release the Group sets forth its supplemental non-IFRS figures for revenue, operating income, operating margin, net income and diluted earnings per share, which exclude the effect of adjusting the carrying value of acquired companies’ deferred revenue, share-based compensation expense and related social charges, the amortization of acquired intangible assets and of tangibles reevaluation, certain other operating income and expense, net, including impairment of goodwill and acquired intangibles, the effect of adjusting lease incentives of acquired companies, certain one-time items included in financial revenue and other, net, and the income tax effect of the non-IFRS adjustments and certain one-time tax effects. The tables also set forth the most comparable IFRS financial measure and reconciliations of this information with non-IFRS information.
FOR MORE INFORMATION
Dassault Systèmes’ 3DEXPERIENCE platform, 3D design software, 3D Digital Mock Up and Product Lifecycle Management (PLM) solutions: http://www.3ds.com
ABOUT DASSAULT SYSTÈMES
Dassault Systèmes is a catalyst for human progress. Since 1981, the company has pioneered virtual worlds to improve real life for consumers, patients and citizens. With Dassault Systèmes’ 3DEXPERIENCE platform, 370 000 customers of all sizes, in all industries, can collaborate, imagine and create sustainable innovations that drive meaningful impact.
For more information, visit www.3ds.com.
Dassault Systèmes Investor Relations Team FTI Consulting
Beatrix Martinez: +33 1 61 62 40 73 Arnaud de Cheffontaines: +33 1 47 03 69 48
Jamie Ricketts : +44 20 3727 1600
Dassault Systèmes Press Contacts
Corporate / France Arnaud MALHERBE arnaud.malherbe@3ds.com +33 (0)1 61 62 87 73
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APPENDIX TABLE OF CONTENTS
Due to rounding, numbers presented throughout this and other documents may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.
Glossary of Definitions
Non-IFRS Financial Information
Acquisitions and Foreign Exchange Impact
Condensed consolidated statements of income
Condensed consolidated balance sheet
Condensed consolidated cash flow statement
IFRS – non-IFRS reconciliation
DASSAULT SYSTÈMES - Glossary of Definitions
Information in Constant Currencies
Dassault Systèmes has followed a long-standing policy of measuring its revenue performance and setting its revenue objectives exclusive of currency in order to measure in a transparent manner the underlying level of improvement in its total revenue and software revenue by activity, industry, geography and product lines. The Group believes it is helpful to evaluate its growth exclusive of currency impacts, particularly to help understand revenue trends in its business. Therefore, the Group provides percentage increases or decreases in its revenue and expenses (in both IFRS and non-IFRS) to eliminate the effect of changes in currency values, particularly the U.S. dollar and the Japanese yen, relative to the euro. When trend information is expressed "in constant currencies", the results of the "prior" period have first been recalculated using the average exchange rates of the comparable period in the current year, and then compared with the results of the comparable period in the current year.
While constant currency calculations are not considered to be an IFRS measure, the Group believes these measures are critical to understanding its global revenue results and to compare with many of its competitors who report their financial results in U.S. dollars. Therefore, Dassault Systèmes includes this calculation to compare IFRS and non-IFRS revenue figures for comparable periods. All information at constant currencies is expressed as a rounded percentage and therefore may not precisely reflect the absolute figures.
Information on Growth excluding acquisitions (“organic growth”)
In addition to financial indicators relating to the Group’s entire scope, Dassault Systèmes also provides growth information excluding acquisitions’ effects, and named organic growth. To do so, the Group’s data is restated to exclude acquisitions, from the date of the transaction, over a period of 12 months.
Information on Industrial Sectors
Dassault Systèmes provides broad end-to-end software solutions and services: its 3D UNIV+RSES (made of multiple virtual twin experiences) powered by the 3DEXPERIENCE platform combine modeling, simulation, data science, artificial intelligence and collaborative innovation to support companies in the three sectors it serves, namely Manufacturing Industries, Life Sciences & Healthcare, and Infrastructure & Cities.
These three sectors comprise twelve industries:
- Manufacturing Industries: Transportation & Mobility; Aerospace & Defense; Marine & Offshore; Industrial Equipment; High-Tech; Home & Lifestyle; Consumer Packaged Goods - Retail. In Manufacturing Industries, Dassault Systèmes helps customers virtualize their operations, improve data sharing and collaboration across their organization, reduce costs and time-to-market, and become more sustainable;
- Life Sciences & Healthcare: Life Sciences & Healthcare. In this sector, the Group aims to address the entire cycle of the patient journey to lead the way toward precision medicine. To reach the broader healthcare ecosystem from research to commercial, the Group’s solutions connect all elements from molecule development to prevention to care, and combine new therapeutics, medical practices, and Medtech;
- Infrastructure & Cities: Infrastructure, Energy & Materials; Architecture, Engineering & Construction; Business Services; Cities & Public Services. In Infrastructure & Cities, the Group supports the virtualization of the sector in making its industries more efficient and sustainable, and creating desirable living environments.
Information on Product Lines
The Group’s financial reporting on product lines includes the following information:
- Industrial Innovation software revenue, which includes CATIA, ENOVIA, SIMULIA, DELMIA, GEOVIA, NETVIBES, and 3DEXCITE brands;
- Life Sciences software revenue, which includes MEDIDATA and BIOVIA brands;
- Mainstream Innovation software revenue, which includes its CENTRIC PLM and 3DVIA brands, as well as the SOLIDWORKS brand and its expanded offerings in design, simulation, PLM, and manufacturing.
OUTSCALE has been a Dassault Systèmes brand since 2022, extending the portfolio of software applications. As the first sovereign and sustainable operator on the cloud, OUTSCALE enables governments and corporations from all sectors to achieve digital autonomy through a Cloud experience and with a world-class cyber governance.
GEOs
Eleven GEOs are responsible for driving the development of the Company’s business and implementing its customer‑centric engagement model. Teams leverage strong networks of local customers, users, partners, and influencers.
These GEOs are structured into three groups:
- the “Americas” group, made of two GEOs;
- the “Europe” group, comprising Europe, Middle East and Africa (EMEA) and made of four GEOs;
- the “Asia” group, comprising Asia and Oceania and made of five GEOs.
3DEXPERIENCE Software Contribution
To measure the relative share of 3DEXPERIENCE software in its revenues, Dassault Systèmes calculates the percentage contribution by comparing total 3DEXPERIENCE software revenue to software revenue for all product lines except SOLIDWORKS, MEDIDATA, CENTRIC PLM and other acquisitions (defined as “3DEXPERIENCE Eligible software revenue”).
Cloud revenue
Cloud revenue is generated from contracts that provide access to cloud-based solutions (SaaS), infrastructure as a service (IaaS), cloud solution development and cloud managed services. These offerings are delivered by Dassault Systèmes through its own cloud infrastructure or by third-party cloud providers. They are available through different deployment methods: Dedicated cloud, Sovereign cloud and International cloud. Cloud solutions are generally offered through subscription-based models or perpetual licenses with support and hosting services.
DASSAULT SYSTÈMES
NON-IFRS FINANCIAL INFORMATION
(unaudited; in millions of Euros, except per share data, percentages, headcount and exchange rates)
Non-IFRS key figures exclude the effects of adjusting the carrying value of acquired companies’ contract liabilities (deferred revenue), share-based compensation expense, including related social charges, amortization of acquired intangible assets and of tangible assets revaluation, lease incentives of acquired companies, other operating income and expense, net, including the acquisition, integration and restructuring expenses, and impairment of goodwill and acquired intangible assets, certain one-time items included in financial loss, net, certain one-time tax effects and the income tax effects of these non-IFRS adjustments.
Comparable IFRS financial information and a reconciliation of the IFRS and non-IFRS measures are set forth in the separate tables within this Attachment.
| In millions of Euros, except per share data, percentages, headcount and exchange rates | Non-IFRS reported | |||||||
| Three months ended | Nine months ended | |||||||
| September 30, 2025 | September 30, 2024 | Change | Change in constant currencies | September 30, 2025 | September 30, 2024 | Change | Change in constant currencies | |
| Total Revenue | (0)% | |||||||
| Revenue breakdown by activity | ||||||||
| Software revenue | 1,315.1 | 1,312.4 | 4,122.1 | 4,011.8 | ||||
| Of which licenses and other software revenue | 188.8 | 229.5 | (18)% | (13)% | 662.5 | 719.8 | (8)% | (6)% |
| Of which subscription and support revenue | 1,126.3 | 1,082.9 | 3,459.6 | 3,292.0 | ||||
| Services revenue | 146.4 | 151.5 | (3)% | 435.6 | 447.6 | (3)% | (1)% | |
| Software revenue breakdown by product line | ||||||||
| Industrial Innovation | 717.1 | 684.6 | 2,254.9 | 2,117.9 | ||||
| Life Sciences | 256.6 | 280.1 | (8)% | (3)% | 817.5 | 846.6 | (3)% | (1)% |
| Mainstream Innovation | 341.3 | 347.7 | (2)% | 1,049.7 | 1,047.4 | |||
| Software Revenue breakdown by geography | ||||||||
| Americas | 542.8 | 540.6 | 1,658.9 | 1,619.7 | ||||
| Europe | 479.4 | 470.3 | 1,527.4 | 1,465.4 | ||||
| Asia | 292.9 | 301.5 | (3)% | 935.7 | 926.6 | |||
| Operating income | ||||||||
| Operating margin | ||||||||
| Net income attributable to shareholders | ||||||||
| Diluted earnings per share | ||||||||
| Closing headcount | 26,070 | 25,996 | 26,070 | 25,996 | ||||
| Average Rate USD per Euro | 1.17 | 1.10 | 1.12 | 1.09 | ||||
| Average Rate JPY per Euro | 172.29 | 163.95 | 165.63 | 164.29 | ||||
DASSAULT SYSTÈMES
ACQUISITIONS AND FOREIGN EXCHANGE IMPACT
(unaudited; in millions of Euros)
| In millions of Euros | Non-IFRS reported | o/w growth at constant rate and scope | o/w change of scope impact at current year rate | o/w FX impact on previous year figures | ||
| September 30, 2025 | September 30, 2024 | Change | ||||
| Revenue QTD | 1,461.5 | 1,463.9 | (2.4) | 56.2 | 8.3 | (66.9) |
| Revenue YTD | 4,557.6 | 4,459.3 | 98.3 | 181.7 | 16.3 | (99.7) |
DASSAULT SYSTÈMES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(unaudited; in millions of Euros, except per share data and percentages)
| In millions of Euros, except per share data and percentages | IFRS reported | |||
| Three months ended | Nine months ended | |||
| September 30, | September 30, | September 30, | September 30, | |
| 2025 | 2024 | 2025 | 2024 | |
| Licenses and other software revenue | 188.8 | 229.5 | 662.5 | 719.8 |
| Subscription and Support revenue | 1,125.0 | 1,082.9 | 3,456.7 | 3,292.0 |
| Software revenue | 1,313.7 | 1,312.4 | 4,119.2 | 4,011.8 |
| Services revenue | 146.4 | 151.5 | 435.6 | 447.6 |
| Total Revenue | ||||
| Cost of software revenue (1) | (118.4) | (127.6) | (367.7) | (364.4) |
| Cost of services revenue | (118.6) | (125.3) | (394.2) | (385.0) |
| Research and development expenses | (314.3) | (321.0) | (1,011.7) | (958.5) |
| Marketing and sales expenses | (398.7) | (403.7) | (1,293.1) | (1,247.7) |
| General and administrative expenses | (111.6) | (117.5) | (355.8) | (334.1) |
| Amortization of acquired intangible assets and of tangible assets revaluation | (83.5) | (88.5) | (257.2) | (274.1) |
| Other operating income and expense, net | (13.0) | (4.2) | (26.8) | (19.2) |
| Total Operating Expenses | (1,158.0) | (1,187.7) | (3,706.5) | (3,583.1) |
| Operating Income | ||||
| Financial income (loss), net | 24.9 | 32.1 | 85.1 | 95.5 |
| Income before income taxes | ||||
| Income tax expense | (54.2) | (68.5) | (182.6) | (184.4) |
| Net Income | ||||
| Non-controlling interest | 2.2 | (0.0) | 8.3 | 0.9 |
| Net Income attributable to equity holders of the parent | ||||
| Basic earnings per share | 0.21 | 0.18 | 0.58 | 0.60 |
| Diluted earnings per share | ||||
| Basic weighted average shares outstanding (in millions) | 1,320.3 | 1,313.3 | 1,316.3 | 1,313.4 |
| Diluted weighted average shares outstanding (in millions) | 1,327.6 | 1,323.1 | 1,324.8 | 1,327.0 |
(1) Excluding amortization of acquired intangible assets and of tangible assets revaluation.
| IFRS reported | Three months ended September 30, 2025 | Nine months ended September 30, 2025 | ||
| Change (2) | Change in constant currencies | Change (2) | Change in constant currencies | |
| Total Revenue | (0)% | |||
| Revenue by activity | ||||
| Software revenue | ||||
| Services revenue | (3)% | (3)% | (1)% | |
| Software Revenue by product line | ||||
| Industrial Innovation | ||||
| Life Sciences | (8)% | (3)% | (3)% | (1)% |
| Mainstream Innovation | (2)% | (0)% | ||
| Software Revenue by geography | ||||
| Americas | ||||
| Europe | ||||
| Asia | (3)% | |||
(2) Variation compared to the same period in the prior year.
DASSAULT SYSTÈMES
CONDENSED CONSOLIDATED BALANCE SHEET
(unaudited; in millions of Euros)
| In millions of Euros | IFRS reported | |
| September 30, | December 31, | |
| 2025 | 2024 | |
| ASSETS | ||
| Cash and cash equivalents | 3,909.7 | 3,952.6 |
| Trade accounts receivable, net | 1,548.8 | 2,120.9 |
| Contract assets | 52.9 | 30.1 |
| Other current assets | 463.8 | 464.0 |
| Total current assets | 5,975.2 | 6,567.6 |
| Property and equipment, net | 887.3 | 945.8 |
| Goodwill and Intangible assets, net | 6,952.8 | 7,687.1 |
| Other non-current assets | 334.9 | 345.5 |
| Total non-current assets | 8,174.9 | 8,978.3 |
| Total Assets | ||
| LIABILITIES | ||
| Trade accounts payable | 220.0 | 259.9 |
| Contract liabilities | 1,362.5 | 1,663.4 |
| Borrowings, current | 1,443.3 | 450.8 |
| Other current liabilities | 831.6 | 1,147.4 |
| Total current liabilities | 3,857.4 | 3,521.5 |
| Borrowings, non-current | 1,145.5 | 2,042.8 |
| Other non-current liabilities | 836.5 | 900.9 |
| Total non-current liabilities | 1,982.0 | 2,943.7 |
| Non-controlling interests | 5.5 | 14.1 |
| Parent shareholders' equity | 8,305.3 | 9,066.6 |
| Total Liabilities | ||
DASSAULT SYSTÈMES
CONDENSED CONSOLIDATED CASH FLOW STATEMENT
(unaudited; in millions of Euros)
| In millions of Euros | IFRS reported | |||||
| Three months ended | Nine months ended | |||||
| September 30, | September 30, | Change | September 30, | September 30, | Change | |
| 2025 | 2024 | 2025 | 2024 | |||
| Net income attributable to equity holders of the parent | 275.0 | 239.7 | 35.3 | 759.1 | 788.2 | (29.1) |
| Non-controlling interest | (2.2) | 0.0 | (2.2) | (8.3) | (0.9) | (7.3) |
| Net income | 272.8 | 239.8 | 33.1 | 750.8 | 787.2 | (36.5) |
| Depreciation of property and equipment | 49.8 | 49.4 | 0.4 | 148.7 | 142.1 | 6.6 |
| Amortization of intangible assets | 84.2 | 90.3 | (6.1) | 260.0 | 279.7 | (19.7) |
| Adjustments for other non-cash items | 30.8 | 39.3 | (8.5) | 67.4 | 113.6 | (46.1) |
| Changes in working capital | (251.4) | (201.1) | (50.3) | 106.6 | 25.2 | 81.4 |
| Net Cash From Operating Activities | ||||||
| Additions to property, equipment and intangibles assets | (28.1) | (36.5) | 8.4 | (123.4) | (144.3) | 20.9 |
| Payment for acquisition of businesses, net of cash acquired | (0.6) | (2.6) | 2.0 | (203.5) | (18.3) | (185.2) |
| Other | (0.8) | 0.7 | (1.5) | (35.4) | 23.9 | (59.2) |
| Net Cash Provided by (Used in) Investing Activities | ||||||
| Proceeds from exercise of stock options | 10.1 | 8.8 | 1.3 | 39.7 | 44.0 | (4.3) |
| Cash dividends paid | - | - | (0.0) | (342.6) | (302.7) | (39.9) |
| Repurchase and sale of treasury stock | (111.7) | (65.8) | (45.9) | (336.6) | (373.5) | 36.9 |
| Capital increase | - | - | 0.0 | 111.3 | - | 111.3 |
| Acquisition of non-controlling interests | (217.9) | (0.7) | (217.2) | (218.0) | (3.3) | (214.7) |
| Proceeds from borrowings | 14.1 | 300.0 | (285.9) | 95.1 | 300.0 | (204.9) |
| Repayment of borrowings | - | (700.5) | 700.5 | (18.5) | (700.7) | 682.2 |
| Repayment of lease liabilities | (30.0) | (18.7) | (11.3) | (75.3) | (61.0) | (14.3) |
| Net Cash Provided by (Used in) Financing Activities | ||||||
| Effect of exchange rate changes on cash and cash equivalents | 4.6 | (76.2) | 80.8 | (269.3) | (22.6) | (246.7) |
| Increase (decrease) in cash and cash equivalents | ||||||
| Cash and cash equivalents at beginning of period | ||||||
| Cash and cash equivalents at end of period | ||||||
DASSAULT SYSTÈMES
SUPPLEMENTAL NON-IFRS FINANCIAL INFORMATION
IFRS – NON-IFRS RECONCILIATION
(unaudited; in millions of Euros, except per share data and percentages)
Readers are cautioned that the supplemental non-IFRS information presented in this press release is subject to inherent limitations. It is not based on any comprehensive set of accounting rules or principles and should not be considered as a substitute for IFRS measurements. Also, the Group’s supplemental non-IFRS financial information may not be comparable to similarly titled “non-IFRS” measures used by other companies. Further specific limitations for individual non-IFRS measures, and the reasons for presenting non-IFRS financial information, are set forth in the Group’s Document d’Enregistrement Universel for the year ended December 31, 2024 filed with the AMF on March 18, 2025. To compensate for these limitations, the supplemental non-IFRS financial information should be read not in isolation, but only in conjunction with the Group’s consolidated financial statements prepared in accordance with IFRS.
| In millions of Euros, except per share data and percentages | Three months ended September 30, | Change | ||||||
| 2025 | Adjustment(1) | 2025 | 2024 | Adjustment(1) | 2024 | IFRS | Non-IFRS(2) | |
| IFRS | Non-IFRS | IFRS | Non-IFRS | |||||
| Total Revenue | - | (0)% | (0)% | |||||
| Revenue breakdown by activity | ||||||||
| Software revenue | 1,313.7 | 1.3 | 1,315.1 | 1,312.4 | - | 1,312.4 | ||
| Licenses and other software revenue | 188.8 | - | 188.8 | 229.5 | - | 229.5 | (18)% | (18)% |
| Subscription and Support revenue | 1,125.0 | 1.3 | 1,126.3 | 1,082.9 | - | 1,082.9 | ||
| Recurring portion of Software revenue | ||||||||
| Services revenue | 146.4 | - | 146.4 | 151.5 | - | 151.5 | (3)% | (3)% |
| Software Revenue breakdown by product line | ||||||||
| Industrial Innovation | 717.1 | - | 717.1 | 684.6 | - | 684.6 | ||
| Life Sciences | 256.6 | - | 256.6 | 280.1 | - | 280.1 | (8)% | (8)% |
| Mainstream Innovation | 340.0 | 1.3 | 341.3 | 347.7 | - | 347.7 | (2)% | (2)% |
| Software Revenue breakdown by geography | ||||||||
| Americas | 542.7 | - | 542.8 | 540.6 | - | 540.6 | ||
| Europe | 478.2 | 1.2 | 479.4 | 470.3 | - | 470.3 | ||
| Asia | 292.9 | 0.1 | 292.9 | 301.5 | - | 301.5 | (3)% | (3)% |
| Total Operating Expenses | (3)% | (1)% | ||||||
| Share-based compensation expense and related social charges | (39.6) | 39.6 | - | (63.4) | 63.4 | - | ||
| Amortization of acquired intangible assets and of tangible assets revaluation | (83.5) | 83.5 | - | (88.5) | 88.5 | - | ||
| Lease incentives of acquired companies | (0.3) | 0.3 | - | (0.4) | 0.4 | - | ||
| Other operating income and expense, net | (13.0) | 13.0 | - | (4.2) | 4.2 | - | ||
| Operating Income | ||||||||
| Operating Margin | ||||||||
| Financial income (loss), net | 24.9 | 0.5 | 25.4 | 32.1 | 0.6 | 32.6 | (22)% | (22)% |
| Income tax expense | (54.2) | (23.4) | (77.6) | (68.5) | (15.8) | (84.3) | (21)% | (8)% |
| Non-controlling interest | 2.2 | (0.4) | 1.8 | (0.0) | (0.9) | (0.9) | N/A | (290)% |
| Net Income attributable to shareholders | ||||||||
| Diluted Earnings Per Share (3) | ||||||||
(1) In the reconciliation schedule above, (i) all adjustments to IFRS revenue data reflect the exclusion of the effect of adjusting the carrying value of acquired companies’ contract liabilities (deferred revenue); (ii) adjustments to IFRS operating expense data reflect the exclusion of the amortization of acquired intangible assets and of tangible assets revaluation, share-based compensation expense, including related social charges, lease incentives of acquired companies, as detailed below, and other operating income and expense, net including acquisition, integration and restructuring expenses, and impairment of goodwill and acquired intangible assets; (iii) adjustments to IFRS financial loss, net reflect the exclusion of certain one-time items included in financial loss, net, and; (iv) all adjustments to IFRS income data reflect the combined effect of these adjustments, plus with respect to net income and diluted earnings per share, certain one-time tax effects and the income tax effect of the non-IFRS adjustments.
| In millions of Euros, except percentages | Three months ended Sept 30, | Change | ||||||||
| 2025 IFRS | Share-based compensation expense and related social charges | Lease incentives of acquired companies | 2025 Non-IFRS | 2024 IFRS | Share-based compensation expense and related social charges | Lease incentives of acquired companies | 2024 Non-IFRS | IFRS | Non- IFRS | |
| Cost of revenue | (236.9) | (1.2) | 0.1 | (238.0) | (252.9) | 3.3 | 0.1 | (249.5) | (6)% | (5)% |
| Research and development expenses | (314.3) | 19.6 | 0.1 | (294.6) | (321.0) | 20.4 | 0.2 | (300.4) | (2)% | (2)% |
| Marketing and sales expenses | (398.7) | 6.8 | 0.1 | (391.8) | (403.7) | 18.9 | 0.0 | (384.8) | (1)% | |
| General and administrative expenses | (111.6) | 14.4 | 0.0 | (97.2) | (117.5) | 20.8 | 0.0 | (96.6) | (5)% | |
| Total | ||||||||||
(2) The non-IFRS percentage increase (decrease) compares non-IFRS measures for the two different periods. In the event there is non-IFRS adjustment to the relevant measure for only one of the periods under comparison, the non-IFRS increase (decrease) compares the non-IFRS measure to the relevant IFRS measure.
(3) Based on a weighted average 1,327.6 million diluted shares for Q3 2025 and 1,323.1 million diluted shares for Q3 2024, and, for IFRS only, a diluted net income attributable to the shareholders of
DASSAULT SYSTÈMES
SUPPLEMENTAL NON-IFRS FINANCIAL INFORMATION
IFRS – NON-IFRS RECONCILIATION
(unaudited; in millions of Euros, except per share data and percentages)
Readers are cautioned that the supplemental non-IFRS information presented in this press release is subject to inherent limitations. It is not based on any comprehensive set of accounting rules or principles and should not be considered as a substitute for IFRS measurements. Also, the Group’s supplemental non-IFRS financial information may not be comparable to similarly titled “non-IFRS” measures used by other companies. Further specific limitations for individual non-IFRS measures, and the reasons for presenting non-IFRS financial information, are set forth in the Group’s Document d’Enregistrement Universel for the year ended December 31, 2024 filed with the AMF on March 18, 2025. To compensate for these limitations, the supplemental non-IFRS financial information should be read not in isolation, but only in conjunction with the Group’s consolidated financial statements prepared in accordance with IFRS.
| In millions of Euros, except per share data and percentages | Nine months ended September 30, | Change | ||||||
| 2025 | Adjustment(1) | 2025 | 2024 | Adjustment(1) | 2024 | IFRS | Non-IFRS(2) | |
| IFRS | Non-IFRS | IFRS | Non-IFRS | |||||
| Total Revenue | - | |||||||
| Revenue breakdown by activity | ||||||||
| Software revenue | 4,119.2 | 2.9 | 4,122.1 | 4,011.8 | - | 4,011.8 | ||
| Licenses and other software revenue | 662.5 | - | 662.5 | 719.8 | - | 719.8 | (8)% | (8)% |
| Subscription and Support revenue | 3,456.7 | 2.9 | 3,459.6 | 3,292.0 | - | 3,292.0 | ||
| Recurring portion of Software revenue | ||||||||
| Services revenue | 435.6 | - | 435.6 | 447.6 | - | 447.6 | (3)% | (3)% |
| Software Revenue breakdown by product line | ||||||||
| Industrial Innovation | 2,254.9 | - | 2,254.9 | 2,117.9 | - | 2,117.9 | ||
| Life Sciences | 817.5 | - | 817.5 | 846.6 | - | 846.6 | (3)% | (3)% |
| Mainstream Innovation | 1,046.8 | 2.9 | 1,049.7 | 1,047.4 | - | 1,047.4 | (0)% | |
| Software Revenue breakdown by geography | ||||||||
| Americas | 1,658.8 | 0.1 | 1,658.9 | 1,619.7 | - | 1,619.7 | ||
| Europe | 1,524.8 | 2.6 | 1,527.4 | 1,465.4 | - | 1,465.4 | ||
| Asia | 935.5 | 0.2 | 935.7 | 926.6 | - | 926.6 | ||
| Total Operating Expenses | ||||||||
| Share-based compensation expense and related social charges | (235.8) | 235.8 | - | (175.9) | 175.9 | - | ||
| Amortization of acquired intangible assets and of tangible assets revaluation | (257.2) | 257.2 | - | (274.1) | 274.1 | - | ||
| Lease incentives of acquired companies | (1.1) | 1.1 | - | (1.5) | 1.5 | - | ||
| Other operating income and expense, net | (26.8) | 26.8 | - | (19.2) | 19.2 | - | ||
| Operating Income | (3)% | |||||||
| Operating Margin | ||||||||
| Financial income (loss), net | 85.1 | 1.6 | 86.8 | 95.5 | 2.1 | 97.6 | (11)% | (11)% |
| Income tax expense | (182.6) | (77.8) | (260.4) | (184.4) | (83.8) | (268.2) | (1)% | (3)% |
| Non-controlling interest | 8.3 | (6.0) | 2.3 | 0.9 | (2.8) | (1.9) | N/A | (221)% |
| Net Income attributable to shareholders | (4)% | |||||||
| Diluted Earnings Per Share (3) | (6)% | |||||||
(1) In the reconciliation schedule above, (i) all adjustments to IFRS revenue data reflect the exclusion of the effect of adjusting the carrying value of acquired companies’ contract liabilities (deferred revenue); (ii) adjustments to IFRS operating expense data reflect the exclusion of the amortization of acquired intangible assets and of tangible assets revaluation, share-based compensation expense, including related social charges, lease incentives of acquired companies, as detailed below, and other operating income and expense, net including acquisition, integration and restructuring expenses, and impairment of goodwill and acquired intangible assets; (iii) adjustments to IFRS financial loss, net reflect the exclusion of certain one-time items included in financial loss, net, and; (iv) all adjustments to IFRS income data reflect the combined effect of these adjustments, plus with respect to net income and diluted earnings per share, certain one-time tax effects and the income tax effect of the non-IFRS adjustments.
| In millions of Euros, except percentages | Nine months ended September 30, | Change | ||||||||
| 2025 IFRS | Share-based compensation expense and related social charges | Lease incentives of acquired companies | 2025 Non-IFRS | 2024 IFRS | Share-based compensation expense and related social charges | Lease incentives of acquired companies | 2024 Non-IFRS | IFRS | Non- IFRS | |
| Cost of revenue | (761.9) | 17.6 | 0.4 | (743.9) | (749.4) | 11.2 | 0.4 | (737.8) | ||
| Research and development expenses | (1,011.7) | 81.0 | 0.4 | (930.3) | (958.5) | 58.7 | 0.7 | (899.1) | ||
| Marketing and sales expenses | (1,293.1) | 71.0 | 0.3 | (1,221.9) | (1,247.7) | 55.7 | 0.2 | (1,191.8) | ||
| General and administrative expenses | (355.8) | 66.2 | 0.1 | (289.5) | (334.1) | 50.3 | 0.1 | (283.7) | ||
| Total | ||||||||||
(2) The non-IFRS percentage increase (decrease) compares non-IFRS measures for the two different periods. In the event there is non-IFRS adjustment to the relevant measure for only one of the periods under comparison, the non-IFRS increase (decrease) compares the non-IFRS measure to the relevant IFRS measure.
(3) Based on a weighted average 1,324.8 million diluted shares for YTD 2025 and 1,327.0 million diluted shares for YTD 2024, and, for IFRS only, a diluted net income attributable to the shareholders of
1 IFRS figures for 3Q25: Total revenue of
Attachment
FAQ
What were Dassault Systèmes (DASTY) Q3 2025 total revenue and growth?
How did recurring and subscription revenue perform for DASTY in Q3 2025?
What guidance change did Dassault Systèmes announce on October 23, 2025?
What margin and EPS did Dassault Systèmes report on a non-IFRS basis for Q3 2025?
How much cash did Dassault Systèmes report as of September 30, 2025?
Which product line led growth for Dassault Systèmes in Q3 2025?
