Bentley Systems Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	1,460	1,353	1,228	1,099	965.05	801.54
Revenue Growth (YoY)	11.12%	10.15%	11.77%	13.89%	20.40%	8.81%
Cost of Revenue	273.4	256.63	262.16	237.01	216.54	162.46
Gross Profit	1,187	1,096	966.25	862.07	748.51	639.09
Selling, General & Admin	484.28	455.51	381.71	344.87	291.89	254.84
Research & Development	303.8	281.37	269.62	257.86	220.92	185.52
Amortization of Goodwill & Intangibles	32.84	34	38.52	41.11	25.6	15.35
Operating Expenses	832.01	783.25	703.43	628.06	633.45	455.88
Operating Income	354.61	313.22	262.82	234.01	115.06	183.21
Interest Expense	-12.61	-15.46	-37.57	-6.03	-3.03	-7.57
Interest & Investment Income	2.39	2.73	1.54	0.42	0.31	0.44
Earnings From Equity Investments	-0.01	0.1	0.02	-2.21	-3.59	-2.47
Currency Exchange Gain (Loss)	3.96	0.94	2.5	-9.9	0.83	22.92
Other Non Operating Income (Expenses)	-0.15	2.69	-13.48	1.71	1.18	0.34
EBT Excluding Unusual Items	348.2	304.23	215.83	218.01	110.77	196.86
Merger & Restructuring Charges	-9.09	-11.07	-30.45	-25.4	-20.47	-2.23
Gain (Loss) on Sale of Assets	-	-	-	2.03	-	-
Asset Writedown	-	-	-1.84	-	-	-4.7
Other Unusual Items	-	-	-	1.43	-0.55	-24.79
Pretax Income	339.11	293.16	183.55	196.06	89.74	165.15
Income Tax Expense	70.25	58.73	-143.24	21.28	-3.45	38.63
Earnings From Continuing Operations	268.87	234.43	326.79	174.78	93.19	126.52
Minority Interest in Earnings	0.45	0.35	-	-	-	-0.23
Net Income	269.32	234.79	326.79	174.78	93.19	126.29
Preferred Dividends & Other Adjustments	-0.02	-	-	-	-	-
Net Income to Common	269.34	234.79	326.79	174.78	93.19	126.29
Net Income Growth	-26.07%	-28.15%	86.97%	87.55%	-26.21%	22.50%
Shares Outstanding (Basic)	315	315	312	309	306	290
Shares Outstanding (Diluted)	333	334	333	332	315	299
Shares Change (YoY)	-0.09%	0.38%	0.22%	5.45%	5.09%	1.90%
EPS (Basic)	0.86	0.75	1.05	0.57	0.30	0.44
EPS (Diluted)	0.83	0.72	1.00	0.55	0.30	0.42
EPS Growth	-25.56%	-27.86%	83.34%	82.41%	-28.57%	20.00%
Free Cash Flow	460.13	421.25	391.69	255.78	270.49	241.89
Free Cash Flow Per Share	1.38	1.26	1.18	0.77	0.86	0.81
Dividend Per Share	0.270	0.240	0.200	0.120	0.120	0.030
Dividend Growth	17.39%	20.00%	66.67%	-	300.00%	-70.00%
Gross Margin	81.27%	81.03%	78.66%	78.44%	77.56%	79.73%
Operating Margin	24.29%	23.15%	21.39%	21.29%	11.92%	22.86%
Profit Margin	18.45%	17.35%	26.60%	15.90%	9.66%	15.75%
Free Cash Flow Margin	31.51%	31.13%	31.89%	23.27%	28.03%	30.18%
EBITDA	411.79	371.28	322.9	298.92	160.83	214.62
EBITDA Margin	28.20%	27.44%	26.29%	27.20%	16.67%	26.78%
D&A For EBITDA	57.18	58.07	60.08	64.91	45.77	31.42
EBIT	354.61	313.22	262.82	234.01	115.06	183.21
EBIT Margin	24.29%	23.15%	21.39%	21.29%	11.92%	22.86%
Effective Tax Rate	20.71%	20.03%	-	10.85%	-	23.39%
Revenue as Reported	1,460	1,353	1,228	1,099	965.05	801.54
Advertising Expenses	-	6.38	5.37	6.89	2.4	1.73

Source: S&P Global Market Intelligence. Standard template. Financial Sources.