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Bentley Systems Announces Fourth Quarter and Full Year 2025 Results and 2026 Financial Outlook
Declares Quarterly Dividend EXTON, Pa.--(BUSINESS WIRE)-- Bentley Systems, Incorporated (Nasdaq: BSY), the infrastructure engineering software company, today
About this update from Bentley Systems, Incorporated
[{"type":"text","content":"\nDeclares Quarterly Dividend\n\n\n EXTON, Pa.--(BUSINESS WIRE)--\nBentley Systems, Incorporated (Nasdaq: BSY), the infrastructure engineering software company, today announced results for the quarter ended December 31, 2025 and its financial outlook for 2026.\n\n\nFourth Quarter 2025 Results\n\n\n\nTotal revenues were $391.6 million, up 11.9% or 9.7% on a constant currency basis, year-over-year;\n\n\n\nSubscriptions revenues were $356.6 million, up 13.0% or 10.8% on a constant currency basis, year-over-year;\n\n\n\nAnnualized Recurring Revenues (“ARR”) were $1,462.1 million as of December 31, 2025, compared to $1,283.3 million as of December 31, 2024; Constant currency ARR growth rate was 11.5%;\n\n\n\nLast twelve-month recurring revenues dollar-based net retention rate was 109%, compared to 110% for the same period last year;\n\n\n\nOperating income margin was 20.0%, compared to 17.6% for the same period last year;\n\n\n\nAdjusted operating income less stock-based compensation expense (“AOI less SBC”) margin was 24.1%, compared to 21.5% for the same period last year;\n\n\n\nNet income per diluted share was $0.18, compared to $0.16 for the same period last year;\n\n\n\nAdjusted net income per diluted share (“Adjusted EPS”) was $0.27, compared to $0.21 for the same period last year;\n\n\n\nCash flows from operating activities were $141.6 million, compared to $81.6 million for the same period last year; and\n\n\n\nFree cash flow was $136.2 million, compared to $76.1 million for the same period last year.\n\n\n\nFull Year 2025 Results\n\n\n\nTotal revenues were $1,501.8 million, up 11.0% or 10.1% on a constant currency basis over 2024;\n\n\n\nSubscriptions revenues were $1,376.7 million, up 12.5% or 11.7% on a constant currency basis over 2024;\n\n\n\nOperating income margin was 24.1%, compared to 22.3% for 2024;\n\n\n\nAOI less SBC margin was 28.6%, compared to 27.5% for 2024;\n\n\n\nNet income per diluted share was $0.85, compared to $0.72 for 2024;\n\n\n\nAdjusted EPS was $1.21, compared to $1.07 for 2024;\n\n\n\nCash flows from operating activities were $538.5 million, compared to $435.3 million for 2024; and\n\n\n\nFree cash flow was $520.2 million, compared to $421.2 million for 2024.\n\n\n\nExecutive Chair Greg Bentley said, “BSY’s stalwart operating results and strategic acquisitions in 2025 set the stage for what I expect...