Dassault Systemes Se · EURONEXT:DSY
Dassault Systemes — Q3 2026 Earnings Presentation
59 slides from Dassault Systemes's earnings presentation, Oct 28, 2026
Slide 1: 3Q26 Earnings Presentation
© Dassault Systèmes | Confidential Information | 2026 Pascal Daloz DASSAULT SYSTÈMES CEO & Chairman 3Q26 Earnings Presentation October 28th 2026 Rouven Bergmann CFO
Slide 2: Forward-Looking Information
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
Slide 3: Non-IFRS Information
NON-IFRS INFORMATION Readers are cautioned that the supplemental non-IFRS financial information presented in this presentation 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 substit
Slide 4: Glossary of Definitions
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
Slide 5: Glossary of Definitions
GLOSSARY OF DEFINITIONS 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
Slide 6: Glossary of Definitions
GLOSSARY OF DEFINITIONS Annual Run Rate (ARR) ARR is the annual value of all active subscription software, SaaS, hosting & support contracts as of the end of the reporting period. • The value of active contracts is annualized by dividing the total active contract value by the contract duration in da
Slide 7: Agenda
AGENDA Strategy & Operational Highlights © Dassault Systèmes | Confidential Information | 2026 Financial Highlights & Objectives Financial Information Appendix 7
Slide 8: Building the Foundation for Sustainable Growth
BUILDING THE FOUNDATION FOR SUSTAINABLE GROWTH INDUSTRY EXPERIENCE HUMAN METAMORPHOSIS © Dassault Systèmes | Confidential Information | 2026 1981 1999 2020 3D Design 3D PLM*** Virtual Twin Experience of Humans 1989 2012 3D DMU* 3DEXPERIENCE® 3D PDM** platform 2026 FOUNDATION YEAR TO TURN AI INTO AI
Slide 9: Strong Q3 Performance with Improved FY26 Objectives
STRONG Q3 PERFORMANCE WITH IMPROVED FY26 OBJECTIVES 3Q26 FY26 Delivering +5% +8% Improving Improving +4-5% +6-7% at high end of objectives TOTAL REVENUE EPS objectives © Dassault Systèmes | Confidential Information | 2026 TOTAL REVENUE EPS objectives vs +3-5% prev. vs +3-6% prev. Transforming existi
Slide 10: Scaling Globally Through Strategic Platform Cooperation
2026 OBJECTIVES SCALING GLOBALLY THROUGH STRATEGIC PLATFORM COOPERATION Transforming existing clients Conquering new frontiers Expanding 3D UNIV+RSES © Dassault Systèmes | Confidential Information | 2026 10
Slide 11: Transforming Business Model Through Platform Approach
2026 OBJECTIVES TRANSFORMING BUSINESS MODEL THROUGH PLATFORM APPROACH Transforming existing clients Conquering new frontiers Expanding 3D UNIV+RSES © Dassault Systèmes | Confidential Information | 2026 11
Slide 12: Accelerating AI Factory Design and Deployment
2026 OBJECTIVES ACCELERATING AI FACTORY DESIGN AND DEPLOYMENT Transforming existing clients Conquering new frontiers Expanding 3D UNIV+RSES © Dassault Systèmes | Confidential Information | 2026 12
Slide 13: New AI-Native Products
NEW AI-NATIVE PRODUCTS © Dassault Systèmes | Confidential Information | 2026 Illustrative, non-exhaustive selection 13
Slide 14: 3D UNIV+RSES Adoption: Enabling Industries to Become AI-Native
3D UNIV+RSES ADOPTION: ENABLING INDUSTRIES TO BECOME AI-NATIVE ~100 Strategic Customer Partnerships © Dassault Systèmes | Confidential Information | 2026 … /… 14
Slide 15: Showcasing AI-Native Industries
SHOWCASING AI-NATIVE INDUSTRIES | at 3DX AGENTIC PLATFORM VIRTUAL TWIN FOR PHYSICAL AI © Dassault Systèmes | Confidential Information | 2026 [Video: long-running agents] AUTONOMOUS LONG-RUNNING AGENTS PHYSICAL AI ROBOTS operating in an RUNNING learning inside a EMBODIED AGENTIC HARNESS PHYSICS-BASED
Slide 16: A Step Change in Life Sciences
A STEP CHANGE IN LIFE SCIENCES: A UNIFIED AI PLATFORM FROM MOLECULE TO PATIENT, BACK TO SCIENCE © Dassault Systèmes | Confidential Information | 2026 Research & Clinical Manufacturing Regulatory & Integrating Development Patient & clinical Industrial execution and Safety real-world evidence lifecycl
Slide 17: New Operating Model for Life Sciences & Healthcare
NEW OPERATING MODEL FOR LIFE SCIENCES & HEALTHCARE Life Sciences & Healthcare Leadership © Dassault Systèmes | Confidential Information | 2026 Unified go-to-market Unified offer 3DX Sales Marketing Services Agentic Platform Applications AI Companions Domain expertise Discovery Lab Clinical Manufactu
Slide 18: Dr. Ashwini Zenooz Joined to Lead Life Sciences & Healthcare
DR. ASHWINI ZENOOZ JOINED DASSAULT SYSTEMES TO LEAD LIFE SCIENCES & HEALTHCARE MANDATE One AI-native platform connecting molecules, patients and real-world outcomes, back to science © Dassault Systèmes | Confidential Information | 2026 • Leading strategy, integration, go-to-market and sales for MEDI
Slide 19: Mission: Smarter Treatment for Healthier People
MISSION: SMARTER TREATMENT FOR HEALTHIER PEOPLE Patient-centric 15m 60m+ 6bn+ Trial patients Real-world patients Patient reach © Dassault Systèmes | Confidential Information | 2026 Multi- Multi- Therapeutics Modalities 50%+ 80% 50% Outcome-based Oncology & Immunology Small molecules of drugs & of 20
Slide 20: Capital Markets Day
upcoming CAPITAL MARKETS DAY NOVEMBER 17, 2026 - PARIS © Dassault Systèmes | Confidential Information | 2026 20
Slide 21: Agenda
AGENDA Strategy & Operational Highlights © Dassault Systèmes | Confidential Information | 2026 Financial Highlights & Objectives Financial Information Appendix 21
Slide 22: Q3 Profitable Growth Converting to Strong Cash Flow Growth
Q3 PROFITABLE GROWTH CONVERTING TO STRONG CASH FLOW GROWTH Executing our growth model TOPLINE OPERATING MARGIN CASH CONVERSION PERFORMANCE © Dassault Systèmes | Confidential Information | 2026 +6% +150 bps 111% +8% EPS ARR Operating Margin YTD26 Total revenue Operating Profit +20% Operating Cash +5%
Slide 23: Performance at a Glance
PERFORMANCE AT A GLANCE Non-IFRS – All growth ex-FX P&L 3Q26 YTD26 Revenue growth 3Q26 YTD26 Recurring % Software © Dassault Systèmes | Confidential Information | 2026 Total Revenue (€M) €1,552 €4,617 Software Revenue +5% +4% 2 83% +5% +4% Upfront License Revenue +14% +7% 84% in YTD25 Operating Marg
Slide 24: Annual Run Rate
ANNUAL RUN RATE All growth and data ex-FX ARR YoY evolution ARR QoQ evolution 3Q25 4Q25 1Q26 2Q26 3Q26 © Dassault Systèmes | Confidential Information | 2026 Beginning ARR 4,197 4,243 4,335 4,371 4,443 Ending ARR 4,243 4,335 4,371 4,443 4,505 Sequential 46 93 35 73 62 Net ARR growth 3Q25 3Q26 ex-FX g
Slide 25: Growth Drivers: 3DEXPERIENCE & Cloud
GROWTH DRIVERS: 3DEXPERIENCE & CLOUD Non-IFRS - All growth ex-FX % YTD26 Software revenue Software revenue growth 3Q26 YTD26 1 +25% +15% © Dassault Systèmes | Confidential Information | 2026 40% in YTD25 +46% +46% 3DEXPERIENCE Cloud +14% +12% 25% in YTD25 CLOUD 1 Eligible Software Revenue excludes S
Slide 26: Software Revenue by Region
SOFTWARE REVENUE BY REGION Non-IFRS - All growth ex-FX EUROPE 3Q26: +9% | YTD26: +5% Strong quarter despite weakness in Central & Southern Europe Broad based performance across industries driven © Dassault Systèmes | Confidential Information | 2026 by 3DEXPERIENCE adoption 1 AMERICAS ASIA 3Q26: -3%
Slide 27: Software Revenue by Product Line
SOFTWARE REVENUE BY PRODUCT LINE Non-IFRS - All growth ex-FX 3Q26 YTD26 Quarterly Highlights Solid performance from 3DEXPERIENCE and Cloud, with ENOVIA leading © Dassault Systèmes | Confidential Information | 2026 Industrial Innovation +5% +3% the momentum SOLIDWORKS solid broad based growth Mainstr
Slide 28: YTD26 Cash Performance
YTD26 CASH PERFORMANCE IFRS unless otherwise noted Operating Cash Flow Free Cash Flow Cash Conversion (Operating Cash Flow/Operating Income1) © Dassault Systèmes | Confidential Information | 2026 +20% ex-FX +25% ex-FX 111% 97% 1,567 1,388 1,334 1303 1,135 1,110 YTD25 YTD25 YTD26 YTD25 YTD25 YTD26 YT
Slide 29: Change in Cash and Debt Position as at September 30, 2026
CHANGE IN CASH AND DEBT POSITION AS AT SEPTEMBER 30, 2026 +197 +295 +406 -37 +903 © Dassault Systèmes | Confidential Information | 2026 -1,682 -75 -38 +77 Operating cash flow: +€1,567 M vs. +€1,334 M -357 in 3Q 2025 YTD (+€233 M / +18%) (+€264 M / +20% ex-FX) ** R B F 4,125 X oe 3,814 3,814 rr pi mo
Slide 30: 4Q26 and FY26 Objectives
Non-IFRS – All growth ex-FX (unless otherwise noted) 4Q26 FY26 1,782 – 1842 Total Revenue (€M) 6,399 – 6,459 © Dassault Systèmes | Confidential Information | 2026 +5 – 8% Total Revenue +4 – 5% +5 – 8% Software Revenue +4 – 5% +8 – 14% Service Revenue +6 – 8% 37.2 – 37.8% Operating Margin (%) 32.5 –
Slide 31: Agenda
AGENDA Strategy & Operational Highlights © Dassault Systèmes | Confidential Information | 2026 Financial Highlights & Objectives Financial Information Appendix 31
Slide 32: Constant Currency Annual Run Rate (ARR)
CONSTANT CURRENCY ANNUAL RUN RATE (ARR) • © Dassault Systèmes | Confidential Information | 2026 • FX rates 1Q25 2Q25 3Q25 4Q25 1.10€/$ Ending ARR using FY25 Plan foreign exchange rates 4,248 4,338 4,392 4,497 155.00€/¥ 1.18€/$ Ending ARR using FY26 Plan foreign exchange rates 4,109 4,197 4,243 4,335
Slide 33: Annual Run Rate (ARR) – Illustrative Example
ANNUAL RUN RATE (ARR) – ILLUSTRATIVE EXAMPLE Case 1: Multi Year on premise deal 5 Years Year 1 Year 2 Year 3 Year 4 Year 5 TCV: 100M Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Revenue 52,5 2,5 2,5 2,5 2,5 2,5 2,5 2,5 2,5 2,5 2,5 2,5 2,5 2,5 2,5 2,5 2,5 2,5 2,5 2,5 Order Value 20 20
Slide 34: Software Revenue by Region (IFRS)
SOFTWARE REVENUE BY REGION IFRS Growth Growth in MEUR 3Q26 3Q25 Growth YTD26 YTD25 Growth ex FX ex FX Americas 539 543 (1)% (3)% 1,609 1,659 (3)% +1% Europe 528 478 +10% +10% 1,595 1,525 +5% +5% © Dassault Systèmes | Confidential Information | 2026 Asia 327 293 +12% +12% 964 936 +3% +8% Software rev
Slide 35: Software Revenue by Region (Non-IFRS)
SOFTWARE REVENUE BY REGION Non - IFRS Growth Growth in MEUR 3Q26 3Q25 Growth YTD26 YTD25 Growth ex FX ex FX Americas 539 543 (1)% (3)% 1,609 1,659 (3)% +1% Europe 528 479 +10% +9% 1,596 1,527 +4% +5% © Dassault Systèmes | Confidential Information | 2026 Asia 327 293 +12% +12% 964 936 +3% +8% Softwar
Slide 36: Software Revenue by Product Line (IFRS)
SOFTWARE REVENUE BY PRODUCT LINE IFRS Growth Growth in MEUR 3Q26 3Q25 Growth YTD26 YTD25 Growth ex FX ex FX Industrial Innovation SW revenue 753 717 +5% +5% 2,271 2,255 +1% +3% Life Sciences SW revenue 266 257 +4% +1% 777 818 (5)% (2)% © Dassault Systèmes | Confidential Information | 2026 Mainstream
Slide 37: Software Revenue by Product Line (Non-IFRS)
SOFTWARE REVENUE BY PRODUCT LINE Non - IFRS Growth Growth in MEUR 3Q26 3Q25 Growth YTD26 YTD25 Growth ex FX ex FX Industrial Innovation SW revenue 753 717 +5% +5% 2,271 2,255 +1% +3% Life Sciences SW revenue 266 257 +4% +1% 777 818 (5)% (2)% © Dassault Systèmes | Confidential Information | 2026 Main
Slide 38: Software Revenue Evolution
SOFTWARE REVENUE EVOLUTION Non - IFRS Growth Growth in MEUR 3Q26 3Q25 Growth YTD26 YTD25 Growth ex FX ex FX Recurring Subscription and Support revenue 1,174 1,126 +4% +3% 3,478 3,460 +1% +3% of which Subscription revenue 582 542 +7% +6% 1,729 1,689 +2% +6% © Dassault Systèmes | Confidential Informat
Slide 39: IFRS Income Statement
Three months ended September 30, Nine months ended September 30, (In € million, except % and per share data) 2026 2025 YoY 2026 2025 YoY Software revenue 1,393.5 1,313.7 +6% 4,169.0 4,119.2 +1% Licenses and Other software revenue 219.3 188.8 +16% 691.1 662.5 +4% © Dassault Systèmes | Confidential In
Slide 40: IFRS Income Statement, % of Revenue
Three months ended September 30, Nine months ended September 30, 2026 2025 2026 2025 % of revenue % of revenue Software revenue 89.8% 90.0% 90.3% 90.4% Licenses and Other software revenue 14.1% 12.9% 15.0% 14.5% © Dassault Systèmes | Confidential Information | 2026 Subscription and Support revenue 7
Slide 41: Non-IFRS Income Statement
Three months ended September 30, Nine months ended September 30, (In € million, except % and per share data) 2026 2025 YoY 2026 2025 YoY Software revenue 1,393.5 1,315.1 +6% 4,169.5 4,122.1 +1% Licenses and Other software revenue 219.3 188.8 +16% 691.1 662.5 +4% © Dassault Systèmes | Confidential In
Slide 42: Non-IFRS Income Statement, % of Revenue
Three months ended September 30, Nine months ended September 30, 2026 2025 2026 2025 % of revenue % of revenue Software revenue 89.8% 90.0% 90.3% 90.4% Licenses and Other software revenue 14.1% 12.9% 15.0% 14.5% © Dassault Systèmes | Confidential Information | 2026 Subscription and Support revenue 7
Slide 43: Revenue and Gross Margin Reconciliation
Revenue and Gross Margin Three months ended September 30, Increase (Decrease) 2026 2026 2025 2025 (In € million, except %) Adjustment Adjustment IFRS Non-IFRS IFRS Non-IFRS IFRS Non-IFRS Total Revenue 1,551.9 - 1,551.9 1,460.1 1.3 1,461.5 +6% +6% Total Revenue breakdown by activity © Dassault Systèm
Slide 44: Expenses & Earnings Reconciliation
Expenses & Earnings Three months ended September 30, Increase (Decrease) 2026 2026 2025 2025 (In € million, except % and per share data) Adjustment Adjustment IFRS Non-IFRS IFRS Non-IFRS IFRS Non-IFRS Total Operating Expenses (1,226.9) 165.2 (1,061.7) (1,158.0) 136.5 (1,021.6) +6% +4% Share-based co
Slide 45: IFRS – Non-IFRS Reconciliation YTD
IFRS – NON-IFRS RECONCILIATION YTD Revenue and Gross Margin Nine months ended September 30, Increase (Decrease) 2026 2026 2025 2025 (In € million, except %) Adjustment Adjustment IFRS Non-IFRS IFRS Non-IFRS IFRS Non-IFRS Total Revenue 4,617.0 0.5 4,617.4 4,554.7 2.9 4,557.6 +1% +1% Total Revenue bre
Slide 46: IFRS – Non-IFRS Reconciliation YTD
IFRS – NON-IFRS RECONCILIATION YTD Expenses & Earnings Nine months ended September 30, Increase (Decrease) 2026 2026 2025 2025 (In € million, except % and per share data) Adjustment Adjustment IFRS Non-IFRS IFRS Non-IFRS IFRS Non-IFRS Total Operating Expenses (3,586.1) 382.5 (3,203.6) (3,706.5) 520.
Slide 47: Financial Income (Loss), Net
FINANCIAL INCOME (LOSS), NET Non - IFRS Three months ended September 30, Nine months ended September 30, (In € million) 2026 2025 YoY 2026 2025 YoY Interest Income 46.3 36.9 9.5 120.9 117.5 3.4 Interest Expense (13.7) (5.0) (8.7) (25.7) (15.4) (10.3) Interest Expense on cap lease (IFRS 16) (4.6) (4.
Slide 48: Exchange Rate Evolution
EXCHANGE RATE EVOLUTION From assumptions to actual data – Non-IFRS Breakdown of P&L by currency for YTD 26 Average Exchange rates Revenue Operating Expenses 2025 2026 % change EUR/USD 1.17 1.15 (2)% USD 47.1% 44.6% QTD EUR/JPY 172.29 183.25 +6% © Dassault Systèmes | Confidential Information | 2026 E
Slide 49: Reported vs Guidance Bridge
Non – IFRS Operating In € million, except % Revenue Operating Income Operating Margin Expenses 3Q26 Guidance MID 1,517.1 (1,045.9) 471.2 31.1% © Dassault Systèmes | Confidential Information | 2026 Growth YoY +3.8% +2.4% +7.1% +1.0pt USD impact 19.0 (12.5) 6.5 +0.0pt JPY impact (7.5) 1.9 (5.6) (0.2)p
Slide 50: Actual FX Impact on 3Q26 – 1/2
ACTUAL FX IMPACT ON 3Q26 – 1/2 Non – IFRS QTD YTD Operating Operating Revenue Expenses Operating Margin In € million, except % Revenue Expenses Operating Margin Income Income 1,461.5 (1,021.6) 439.9 30.1% 2025 4,557.6 (3,185.6) 1,372.1 30.1% © Dassault Systèmes | Confidential Information | 2026 10.9
Slide 51: Actual FX Impact on 3Q26 – 2/2
ACTUAL FX IMPACT ON 3Q26 – 2/2 Non – IFRS QTD YTD Net Income EPS In € million, except % Net Income EPS 389.6 0.29 2025 1,200.7 0.91 © Dassault Systèmes | Confidential Information | 2026 4.1 0.0 FX Impact on Operating Income Adjustment (47.6) (0.0) 0.7 0.0 FX Impact on Financial Revenue Adjustment (3
Slide 52: Balance Sheet (IFRS)
IFRS End of End of Variation (in millions of €) Sep-26 Dec-25 Sep-26 / Dec-25 Cash and cash equivalents 3,814.0 4,125.4 -311.4 Trade accounts receivable, net 1,772.7 2,168.4 -395.7 Contract assets 68.3 37.3 +31.0 Other current assets 463.9 454.4 +9.5 © Dassault Systèmes | Confidential Information |
Slide 53: Cash Flow Statement (IFRS)
IFRS In millions of € YTD 26 YTD 25 Variation Net income attributable to equity holders of the parent 902.7 759.1 143.7 Non-controlling interest (0.1) (8.3) 8.2 Net income 902.6 750.8 151.8 Non-cash items 405.6 476.2 (70.5) Net income adjusted for non-cash items 1,308.3 1,226.9 81.3 Operating workin
Slide 54: Operating Cash Flow and Working Capital
IFRS € million YTD26 YTD25 Changes YTD26 YTD25 Changes Operating Cash Flow exFX +1,567 +1,303 +264 Up +20% year over year +1,567 +1,303 +264 Operating Cash Flow – reported +1,567 +1,334 +233 Up +18% year over year +1,567 +1,334 +233 Net income adjusted for non cash items +1,308 +1,227 +81 Up +7% yea
Slide 55: DSO Evolution
© Dassault Systèmes | Confidential Information | 2026 55 IFRS 98 3Q25 117 Q425 in days 105 DSO 1Q26 107 2Q26 106 3Q26
Slide 56: Headcount Overview
Overview At Closing - TOTAL 3Q26 3Q25 % growth M&S + COR Ser 12,676 12,250 +3.5% © Dassault Systèmes | Confidential Information | 2026 R&D + COR SW 12,155 11,717 +3.7% G&A 2,168 2,103 +3.1% Total 26,999 26,070 +3.6% 56
Slide 57: IFRS 2026 Financial Objectives
IFRS 2026 FINANCIAL OBJECTIVES Accounting elements not included in the non-IFRS 2026 Objectives • FY 2026 estimated contract liabilities write-down: not significant • FY 2026 estimated share-based compensation expense, including related social charges: ~€116 M, these estimates do not include any new
Slide 58: Virtual Worlds for Real Life
© Dassault Systèmes | Confidential Information | 2026 for Real Life Virtual Worlds
Slide 59: Discover More on 3DS.com
© Dassault Systèmes | Confidential Information | 2026 59 ON 3DS.COM DISCOVER MORE