Bentley Systems, Incorporated (BSY) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning. Thank you for joining Bentley Systems Q Forum for your 2025 results and 2026 financial outlook. I'm Eric Boyer, Bentley Systems Investor Relations Officer. On the webcast today, we have Bentley Systems Executive Chair Greg Bentley, Chief Executive Officer Nicholas Cummins, and Chief Financial Officer Bernard Andre. This webcast includes forward-looking statements made as of February 26, 2026, regarding the future results of operations and financial position, business strategy, and objectives for future operations of Bentley Systems Incorporated. All such statements made in or contained during this webcast have been statements of historical fact or forward-looking statements. This webcast will be available for reply on Bentley Systems' Investor Relations website at investors.bentley.com on February 26, 2026. After our presentation, we'll conclude with Q&A. And with that, let me introduce the Executive Chair of Bentley Systems, Greg Bentley. Thanks to each of you for your interest and attention. Nicholas will review the factors behind our stalwart 2025 operating results, and Werner will then provide our consistent 2026 outlook, so I'll take a longer-term perspective. First, as I hope we'll be welcoming some new investors, I'll begin with an update on Bentley Systems' financial fundamentals. With 2025 results, I can extend my previous review of our first five years as a public company to now focus on the years since pandemic disruptions. Our business model prioritizes durability and visibility. Our key metric, annual constant currency ARR growth, has been reliably sustained in the low double digits since 2022. This business performance measure excludes the ARR onboarded with our major platform acquisitions, Sequent and Powerline systems. In 2025, the porti...