Bentley Systems, Incorporated
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.50B | $1.35B | $1.23B | $1.10B | $965.0M | $801.5M | $734.8M | $691.7M |
| Cost of Revenue | $277.5M | $257.8M | $266.1M | $237.0M | $216.5M | $167.2M | $144.2M | $131.3M |
| Gross Profit | $1.22B | $1.10B | $962.3M | $862.1M | $748.5M | $634.4M | $592.5M | $560.4M |
| Gross Margin | 81.5% | 80.9% | 78.3% | 78.4% | 77.6% | 79.1% | 80.6% | 81.0% |
| Operating Expenses | ||||||||
| Research & Development | $307.6M | $281.2M | $274.6M | $257.9M | $220.9M | $185.5M | $183.6M | $175.0M |
| SG&A Expense | $217.3M | $210.4M | $180.7M | $174.6M | $150.1M | $113.3M | $97.2M | $89.3M |
| Operating Income | $362.6M | $302.2M | $230.5M | $208.6M | $94.6M | $150.2M | $141.9M | $121.4M |
| Operating Margin | 24.1% | 22.3% | 18.8% | 19.0% | 9.8% | 18.7% | 19.3% | 17.5% |
| Interest Expense | $7.6M | $17.0M | $35.0M | $35.1M | $11.5M | $7.2M | $9.7M | $9.6M |
| Pretax Income | $350.7M | $293.1M | $183.5M | $198.3M | $93.3M | $167.6M | $128.1M | $112.9M |
| Income Tax Expense | $73.0M | $58.7M | $-143.2M | $21.3M | $-3.4M | $38.6M | $23.7M | $-29.3M |
| Net Income | $277.9M | $234.8M | $326.8M | $174.8M | $93.2M | $126.5M | $103.1M | $142.1M |
| Net Margin | 18.5% | 17.4% | 26.6% | 15.9% | 9.7% | 15.8% | 14.0% | 20.5% |
| EPS (Basic) | $0.88 | $0.75 | $1.05 | $0.57 | $0.30 | $0.44 | $0.36 | $0.50 |
| EPS (Diluted) | $0.85 | $0.72 | $1.00 | $0.55 | $0.30 | $0.42 | $0.35 | $0.49 |
| Shares Outstanding (Basic) | 314.7M | 314.9M | 312.4M | 309.2M | 305.7M | 289.9M | 284.6M | 285.8M |
| Shares Outstanding (Diluted) | 333.1M | 333.8M | 332.5M | 331.8M | 314.6M | 299.4M | 293.8M | 292.6M |
| Dividends Per Share | $0.28 | $0.24 | $0.20 | $0.12 | $0.12 | $1.62 | $0.10 | $0.08 |