Bentley Systems, Incorporated (BSY) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you. Thank you. Thank you. All such statements made in or contained during this webcast, other than statements of historical fact, are forward-looking statements. This webcast will be available for replay on Bentley Systems' Investor Relations website at investors.bentley.com on May 7, 2025. After our presentation, we will conclude with Q&A. And with that, let me introduce the Executive Chair of Bentley Systems, Greg Bentley. Good morning, and as always, thanks for your interest in BSY. Of course, CEO Nicholas and CFO Werner will report in detail Bentley Systems' excellent operating and financial results for the first quarter of 2025. But given the heightened uncertainties in global markets since we last spoke just two months ago, at which time I reviewed BSY's financial compounding over our almost five years since going public, This time, I will highlight our corresponding and intentional progress in the attributes that make our model resilient against macro vulnerabilities and cyclicality. To this end, we have improved our business mix along the dimensions of infrastructure sectors, infrastructure lifecycle, our commercial models, account scale, and geography. We can track this by comparing, over the period, the charts within our introductory debt for investors, which quantify the distribution of our business footprint. Now, our allocation within infrastructure sectors is so distinctively significant that we start our description with this breakdown of our ARR by end market. Scaled an area within each of these pie charts, here's how our ARR growth has developed from its comparable distribution at the beginning of 2020. Among infrastructure sectors, commercial facilities and industrial are by far most subject to both demand and interest rate cyclicality. For u...