Bentley Systems reported second quarter revenue of $410.7 million, an increase of 12.8% year-over-year, while adjusted EPS grew to $0.35 from $0.32 in the prior-year period. The results were driven by consistent performance in the company's subscription-based model and continued end-market strength.

Key Highlights

  • Annualized Recurring Revenues (ARR) reached $1.536 billion, reflecting a constant currency growth rate of 12% year-over-year.
  • Subscriptions revenues grew 13.6% year-over-year to $378.6 million, now accounting for over 92% of total revenue.
  • The company's last twelve-month recurring revenues dollar-based net retention rate was 109%, remaining consistent with the same period last year.