Bentley Systems Incorporated (BSY) Financial Statements (2025 and earlier)

Company Profile

Business Address 685 STOCKTON DRIVE
EXTON, PA 19341
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 7372 - Prepackaged Software (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments68,41271,684329,337122,006
Cash and cash equivalents68,41271,684329,337122,006
Receivables293,536287,073235,266190,023
Prepaid expense12,81218,40616,8803,535
Contract with customer, asset, after allowance for credit loss  575336446
Other undisclosed current assets44,79738,15734,01224,248
Total current assets:419,557415,895615,831340,258
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization   31343
Operating lease, right-of-use asset38,47640,24950,81846,128
Long-term investments and receivables2,43696  
Long-term investments2,43696  
Intangible assets, net (including goodwill)2,518,1232,529,4551,834,311626,801
Goodwill2,269,3362,237,1841,588,477581,174
Intangible assets, net (excluding goodwill)248,787292,271245,83445,627
Deferred income tax assets212,83152,63671,37639,224
Other noncurrent assets67,28372,24948,64639,519
Other undisclosed noncurrent assets61,14454,42538,23033,762
Total noncurrent assets:2,900,2932,749,1102,043,412785,777
TOTAL ASSETS:3,319,8503,165,0052,659,2431,126,035
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities475,442377,224346,782246,651
Taxes payable6,6963,366
Accounts payable18,09415,17616,48316,492
Accrued liabilities457,348362,048323,603226,793
Deferred revenue253,785226,955224,610202,294
Debt 10,0005,0005,098197
Other undisclosed current liabilities21,13619,17917,38416,413
Total current liabilities:760,363628,358593,874465,555
Noncurrent Liabilities
Long-term debt and lease obligation1,518,4031,775,6961,466,266277,767
Long-term debt, excluding current maturities1,518,4031,775,6961,430,992246,000
Liabilities, other than long-term debt157,102187,497189,88141,114
Accounts payable and accrued liabilities7,3378,1057,7257,883
Deferred revenue15,86216,1187,9837,020
Deferred compensation liability, classified88,18177,01494,890 
Deferred income tax liabilities9,71851,23565,01410,849
Other liabilities5,3787,35514,26915,362
Operating lease, liability30,62627,67035,27431,767
Total noncurrent liabilities:1,675,5051,963,1931,656,147318,881
Total liabilities:2,435,8682,591,5512,250,021784,436
Equity
Equity, attributable to parent880,315572,750409,222341,599
Common stock  2,8902,8252,722
Additional paid in capital1,127,2341,030,466937,805741,113
Accumulated other comprehensive loss(84,987)(89,740)(91,774)(26,233)
Accumulated deficit(161,932)(370,866)(439,634)(376,003)
Equity, attributable to noncontrolling interest704704  
Other undisclosed equity2,963   
Total equity:883,982573,454409,222341,599
TOTAL LIABILITIES AND EQUITY:3,319,8503,165,0052,659,2431,126,035

Income Statement (P&L) ($ in thousands)

9/30/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
Revenues1,228,4131,099,082965,046801,544
Cost of revenue(266,083)(237,013)(216,539)(167,155)
Gross profit:962,330862,069748,507634,389
Operating expenses(731,788)(653,457)(653,918)(484,239)
Operating income:230,542208,61294,589150,150
Nonoperating income (expense)(5,684)24,71911,53725,383
Investment income, nonoperating1,538421306437
Other nonoperating income (expense)(7,222)24,29811,23124,946
Interest and debt expense(34,973)(35,056)(12,797)(7,913)
Other undisclosed loss from continuing operations before equity method investments, income taxes(6,358)   
Income from continuing operations before equity method investments, income taxes:183,527198,27593,329167,620
Income (loss) from equity method investments19(2,212)(3,585)(2,474)
Income from continuing operations before income taxes:183,546196,06389,744165,146
Income tax expense (benefit)143,241(21,283)3,448(38,625)
Income from continuing operations:326,787174,78093,192126,521
Income before gain (loss) on sale of properties:93,192126,521
Net income attributable to parent:326,787174,78093,192126,521
Undistributed earnings (loss) allocated to participating securities, basic(74)(42)(9)(234)
Net income available to common stockholders, basic:326,713174,73893,183126,287
Interest on convertible debt6,874   
Other undisclosed net income available to common stockholders, diluted  6,810  
Net income available to common stockholders, diluted:333,587181,54893,183126,287

Comprehensive Income ($ in thousands)

9/30/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
Net income:326,787174,78093,192126,521
Other undisclosed comprehensive loss(322,034)(172,746)  
Comprehensive income:4,7532,03493,192126,521
Other undisclosed comprehensive income (loss), net of tax, attributable to parent326,787174,780(65,541)(2,306)
Comprehensive income, net of tax, attributable to parent:331,540176,81427,651124,215

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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