Bentley Systems, Incorporated(NASDAQ:BSY) 
Bentley Systems, Incorporated, together with its subsidiaries, provides infrastructure engineering software solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company offers open modeling and open simulation applications for infrastructure design integration, which...
Website: http://www.bentley.com
Founded: 1984
CEO: Greg Bentley
Sector: Technology
Industry: Software-Application
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At a glance:
Bull Thesis:
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Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
revenues: | |||||||||||||||||||||||
subscriptions | 392,484,000 | 356,633,000 | 344,293,000 | 333,452,000 | 342,318,000 | 315,590,000 | 303,239,000 | 297,444,000 | 307,089,000 | 272,468,000 | 270,751,000 | 259,243,000 | 277,845,000 | 251,489,000 | 235,307,000 | 232,191,000 | 241,233,000 | 227,003,000 | 212,227,000 | 185,452,000 | 188,125,000 | 178,262,000 | 173,174,000 |
perpetual licenses | 9,057,000 | 14,282,000 | 10,913,000 | 10,193,000 | 10,792,000 | 14,312,000 | 11,274,000 | 10,863,000 | 9,512,000 | 12,886,000 | 11,887,000 | 11,718,000 | 9,547,000 | 12,164,000 | 9,460,000 | 11,548,000 | 10,205,000 | 19,707,000 | 11,866,000 | 11,391,000 | 10,116,000 | 21,362,000 | 12,827,000 |
subscriptions and licenses | 401,541,000 | 370,915,000 | 355,206,000 | 343,645,000 | 353,110,000 | 329,902,000 | 314,513,000 | 308,307,000 | 316,601,000 | 285,354,000 | 282,638,000 | 270,961,000 | 287,392,000 | 263,653,000 | 244,767,000 | 243,739,000 | 251,438,000 | 246,710,000 | 224,093,000 | 196,843,000 | 198,241,000 | 199,624,000 | 186,001,000 |
services | 22,640,000 | 20,667,000 | 20,343,000 | 20,461,000 | 17,432,000 | 19,920,000 | 20,660,000 | 22,030,000 | 21,162,000 | 25,287,000 | 23,974,000 | 25,788,000 | 27,019,000 | 23,295,000 | 23,565,000 | 24,546,000 | 24,079,000 | 24,920,000 | 24,387,000 | 26,088,000 | 23,764,000 | 19,943,000 | 16,996,000 |
total revenues | 424,181,000 | 391,582,000 | 375,549,000 | 364,106,000 | 370,542,000 | 349,822,000 | 335,173,000 | 330,337,000 | 337,763,000 | 310,641,000 | 306,612,000 | 296,749,000 | 314,411,000 | 286,948,000 | 268,332,000 | 268,285,000 | 275,517,000 | 271,630,000 | 248,480,000 | 222,931,000 | 222,005,000 | 219,567,000 | 202,997,000 |
yoy | 14.48% | 11.94% | 12.05% | 10.22% | 9.70% | 12.61% | 9.32% | 11.32% | 7.43% | 8.26% | 14.27% | 10.61% | 14.12% | 5.64% | 7.99% | 20.34% | 24.10% | 23.71% | 22.41% | ||||
qoq | 8.32% | 4.27% | 3.14% | -1.74% | 5.92% | 4.37% | 1.46% | -2.20% | 8.73% | 1.31% | 3.32% | -5.62% | 9.57% | 6.94% | 0.02% | -2.62% | 1.43% | 9.32% | 11.46% | 0.42% | 1.11% | 8.16% | |
cost of revenues: | |||||||||||||||||||||||
cost of subscriptions and licenses | 53,098,000 | 53,325,000 | 53,824,000 | 47,758,000 | 46,498,000 | 46,470,000 | 44,220,000 | 42,432,000 | 40,218,000 | 45,231,000 | 42,088,000 | 41,156,000 | 40,931,000 | 39,674,000 | 37,371,000 | 36,806,000 | 33,727,000 | 34,439,000 | 31,056,000 | 29,881,000 | 28,945,000 | 29,337,000 | 23,338,000 |
cost of services | 20,676,000 | 17,575,000 | 18,371,000 | 21,018,000 | 19,161,000 | 21,442,000 | 20,612,000 | 20,761,000 | 21,612,000 | 22,566,000 | 22,588,000 | 25,270,000 | 26,253,000 | 22,677,000 | 21,812,000 | 22,888,000 | 22,058,000 | 25,128,000 | 23,176,000 | 23,570,000 | 20,344,000 | 21,226,000 | 19,290,000 |
total cost of revenues | 73,774,000 | 70,900,000 | 72,195,000 | 68,776,000 | 65,659,000 | 67,912,000 | 64,832,000 | 63,193,000 | 61,830,000 | 67,797,000 | 64,676,000 | 66,426,000 | 67,184,000 | 62,351,000 | 59,183,000 | 59,694,000 | 55,785,000 | 59,567,000 | 54,232,000 | 53,451,000 | 49,289,000 | 50,563,000 | 42,628,000 |
gross profit | 350,407,000 | 320,682,000 | 303,354,000 | 295,330,000 | 304,883,000 | 281,910,000 | 270,341,000 | 267,144,000 | 275,933,000 | 242,844,000 | 241,936,000 | 230,323,000 | 247,227,000 | 224,597,000 | 209,149,000 | 208,591,000 | 219,732,000 | 212,063,000 | 194,248,000 | 169,480,000 | 172,716,000 | 169,004,000 | 160,369,000 |
yoy | 14.93% | 13.75% | 12.21% | 10.55% | 10.49% | 16.09% | 11.74% | 15.99% | 11.61% | 8.12% | 15.68% | 10.42% | 12.51% | 5.91% | 7.67% | 23.08% | 27.22% | 25.48% | 21.13% | ||||
qoq | 9.27% | 5.71% | 2.72% | -3.13% | 8.15% | 4.28% | 1.20% | -3.19% | 13.63% | 0.38% | 5.04% | -6.84% | 10.08% | 7.39% | 0.27% | -5.07% | 3.62% | 9.17% | 14.61% | -1.87% | 2.20% | 5.38% | |
gross margin % | 82.61% | 81.89% | 80.78% | 81.11% | 82.28% | 80.59% | 80.66% | 80.87% | 81.69% | 78.18% | 78.91% | 77.62% | 78.63% | 78.27% | 77.94% | 77.75% | 79.75% | 78.07% | 78.17% | 76.02% | 77.80% | 76.97% | 79.00% |
operating expense: | |||||||||||||||||||||||
research and development | 83,005,000 | 80,990,000 | 78,751,000 | 75,385,000 | 72,450,000 | 77,099,000 | 70,068,000 | 65,709,000 | 68,371,000 | 71,237,000 | 65,465,000 | 70,117,000 | 67,800,000 | 67,890,000 | 63,827,000 | 64,866,000 | 61,273,000 | 63,002,000 | 57,334,000 | 52,776,000 | 47,803,000 | 45,945,000 | 50,217,000 |
selling and marketing | 75,272,000 | 84,504,000 | 72,107,000 | 69,873,000 | 63,059,000 | 78,722,000 | 64,940,000 | 57,129,000 | 54,386,000 | 64,074,000 | 53,757,000 | 54,364,000 | 52,141,000 | 53,946,000 | 46,114,000 | 49,617,000 | 45,945,000 | 47,394,000 | 44,392,000 | 38,014,000 | 32,440,000 | 36,240,000 | 41,824,000 |
general and administrative | 58,509,000 | 66,429,000 | 53,818,000 | 49,857,000 | 47,228,000 | 57,679,000 | 51,359,000 | 54,854,000 | 46,482,000 | 51,995,000 | 42,678,000 | 39,258,000 | 46,807,000 | 45,666,000 | 37,794,000 | 40,033,000 | 51,154,000 | 39,883,000 | 35,329,000 | 41,878,000 | 33,388,000 | 28,176,000 | 33,006,000 |
deferred compensation plan | -1,074,000 | 2,038,000 | 6,033,000 | 7,584,000 | -1,246,000 | -1,283,000 | 6,983,000 | 883,000 | 5,799,000 | 8,817,000 | -3,160,000 | 3,777,000 | 4,146,000 | 6,091,000 | -4,576,000 | -12,159,000 | -5,138,000 | 5,719,000 | 88,965,000 | ||||
amortization of purchased intangibles | 8,435,000 | 8,211,000 | 8,148,000 | 8,201,000 | 8,208,000 | 8,281,000 | 8,361,000 | 8,392,000 | 8,964,000 | 8,948,000 | 9,517,000 | 9,502,000 | 10,548,000 | 10,245,000 | 10,446,000 | 10,517,000 | 9,906,000 | 8,898,000 | 8,676,000 | 4,589,000 | 3,438,000 | 4,368,000 | 3,869,000 |
total operating expenses | 224,147,000 | 242,172,000 | 218,857,000 | 210,900,000 | 189,699,000 | 220,498,000 | 201,711,000 | 186,967,000 | 184,002,000 | 205,071,000 | 168,257,000 | 177,018,000 | 181,442,000 | 183,838,000 | 153,605,000 | 152,874,000 | 163,140,000 | 164,896,000 | 234,696,000 | 137,257,000 | 117,069,000 | 114,729,000 | 155,046,000 |
income from operations | 126,260,000 | 78,510,000 | 84,497,000 | 84,430,000 | 115,184,000 | 61,412,000 | 68,630,000 | 80,177,000 | 91,931,000 | 37,773,000 | 73,679,000 | 53,305,000 | 65,785,000 | 40,759,000 | 55,544,000 | 55,717,000 | 56,592,000 | 47,167,000 | -40,448,000 | 32,223,000 | 55,647,000 | 54,275,000 | 5,323,000 |
yoy | 9.62% | 27.84% | 23.12% | 5.30% | 25.29% | 62.58% | -6.85% | 50.41% | 39.74% | -7.33% | 32.65% | -4.33% | 16.24% | -13.59% | -237.32% | 72.91% | 1.70% | -13.10% | -859.87% | ||||
qoq | 60.82% | -7.09% | 0.08% | -26.70% | 87.56% | -10.52% | -14.40% | -12.79% | 143.38% | -48.73% | 38.22% | -18.97% | 61.40% | -26.62% | -0.31% | -1.55% | 19.98% | -216.61% | -225.53% | -42.09% | 2.53% | 919.63% | |
operating margin % | 29.77% | 20.05% | 22.50% | 23.19% | 31.09% | 17.56% | 20.48% | 24.27% | 27.22% | 12.16% | 24.03% | 17.96% | 20.92% | 14.20% | 20.70% | 20.77% | 20.54% | 17.36% | -16.28% | 14.45% | 25.07% | 24.72% | 2.62% |
interest expense | -8,200,000 | -2,381,000 | -2,727,000 | -3,519,000 | -3,808,000 | -5,755,000 | -4,669,000 | -5,100,000 | -6,520,000 | -9,170,000 | -10,047,000 | -9,484,000 | -11,092,000 | -11,589,000 | -8,382,000 | -7,622,000 | -7,042,000 | -3,883,000 | -3,836,000 | -2,453,000 | -2,319,000 | -3,026,000 | -1,934,000 |
other income | 497,000 | -243,000 | 1,937,000 | -1,596,000 | 449,000 | 8,619,000 | -5,087,000 | 2,280,000 | 7,137,000 | -14,429,000 | 5,953,000 | 965,000 | 289,000 | 9,980,000 | 180,000 | 3,497,000 | 10,641,000 | 1,483,000 | -957,000 | -3,777,000 | 14,482,000 | 18,190,000 | 13,741,000 |
income before income taxes | 118,557,000 | 75,886,000 | 83,707,000 | 79,315,000 | 111,825,000 | 64,276,000 | 58,874,000 | 77,357,000 | 92,548,000 | 14,174,000 | 69,585,000 | 44,786,000 | 54,982,000 | 39,150,000 | 47,342,000 | 51,592,000 | 60,191,000 | 44,767,000 | -45,241,000 | 25,993,000 | 67,810,000 | 69,439,000 | 17,130,000 |
provision for income taxes | -23,155,000 | -13,905,000 | -26,256,000 | -8,876,000 | -20,488,000 | -11,024,750 | -16,522,000 | -22,247,000 | -5,526,750 | -16,514,000 | -9,492,000 | -3,231,000 | -10,358,000 | -5,536,250 | -10,705,000 | ||||||||
equity in net (losses) income of investees, net of tax | -53,000 | -25,000 | -162,000 | 3,500 | -14,000 | ||||||||||||||||||
net income | 95,349,000 | 58,667,000 | 57,289,000 | 70,500,000 | 91,338,000 | 49,739,000 | 42,338,000 | 72,046,000 | 70,310,000 | 179,585,000 | 53,027,000 | 48,685,000 | 45,490,000 | 25,722,000 | 36,997,000 | 55,673,000 | 56,388,000 | 41,404,000 | -50,128,000 | 44,910,000 | 57,006,000 | 51,932,000 | 5,844,000 |
yoy | 4.39% | 17.95% | 35.31% | -2.15% | 29.91% | -72.30% | -20.16% | 47.98% | 54.56% | 598.18% | 43.33% | -12.55% | -19.33% | -37.88% | -173.81% | 23.97% | -1.08% | -20.27% | -957.77% | ||||
qoq | 62.53% | 2.41% | -18.74% | -22.81% | 83.63% | 17.48% | -41.23% | 2.47% | -60.85% | 238.67% | 8.92% | 7.02% | 76.85% | -30.48% | -33.55% | -1.27% | 36.19% | -182.60% | -211.62% | -21.22% | 9.77% | 788.64% | |
net income margin % | 22.48% | 14.98% | 15.25% | 19.36% | 24.65% | 14.22% | 12.63% | 21.81% | 20.82% | 57.81% | 17.29% | 16.41% | 14.47% | 8.96% | 13.79% | 20.75% | 20.47% | 15.24% | -20.17% | 20.15% | 25.68% | 23.65% | 2.88% |
less: net income attributable to noncontrolling interest | -37,000 | 29,000 | -84,000 | 18,000 | -30,000 | ||||||||||||||||||
net income attributable to bentley systems | 95,386,000 | 58,638,000 | 57,373,000 | 70,482,000 | 91,368,000 | ||||||||||||||||||
net income per share | 0.148 | 0.13 | 0.23 | 0.22 | 0.58 | 0.17 | 0.16 | 0.15 | 0.09 | 0.12 | 0.18 | 0.18 | 0.13 | -0.16 | 0.15 | 0.19 | 0.18 | 0.02 | |||||
basic | 0.31 | 0.18 | 0.18 | 0.22 | 0.29 | ||||||||||||||||||
diluted | 0.3 | 0.18 | 0.18 | 0.22 | 0.28 | ||||||||||||||||||
weighted-average shares: | |||||||||||||||||||||||
basic | 312,593,358 | 314,690,707 | 314,626,191 | 314,622,491 | 315,130,071 | 314,886,615 | |||||||||||||||||
diluted | 321,836,470 | 333,089,213 | 333,277,478 | 332,824,020 | 333,441,006 | 333,774,167 | |||||||||||||||||
operating expenses: | |||||||||||||||||||||||
equity in net income of investees, net of tax | 61,000 | 1,000 | 19,000 | 9,000 | |||||||||||||||||||
per share information: | |||||||||||||||||||||||
net income per share | 0.148 | 0.13 | 0.23 | 0.22 | 0.58 | 0.17 | 0.16 | 0.15 | 0.09 | 0.12 | 0.18 | 0.18 | 0.13 | -0.16 | 0.15 | 0.19 | 0.18 | 0.02 | |||||
weighted-average shares, basic | 315,207,216 | 314,980,580 | 314,295,102 | 312,358,823 | 313,069,132 | 311,914,602 | 310,758,802 | 309,226,677 | 310,116,104 | 308,244,778 | 307,969,672 | 305,711,345 | 308,195,379 | 304,066,038 | 302,583,452 | ||||||||
weighted-average shares, diluted | 333,789,636 | 333,780,984 | 333,623,518 | 332,503,633 | 332,825,186 | 332,352,725 | 331,251,884 | 331,765,158 | 325,170,383 | 332,275,216 | 331,330,256 | 314,610,814 | 308,195,379 | 324,478,086 | 321,736,649 | ||||||||
benefit for income taxes | -5,330,000 | 3,899,000 | -13,062,000 | -9,664,000 | 4,674,000 | -2,717,000 | -4,223,000 | 20,746,000 | |||||||||||||||
loss from investments accounted for using the equity method, net of tax | -11,000 | -44,000 | |||||||||||||||||||||
loss from investment accounted for using the equity method, net of tax | -461,500 | -681,000 | -593,000 | -572,000 | -646,000 | -664,000 | -1,829,000 | -446,000 | -1,027,000 | -581,000 | |||||||||||||
less: net income attributable to participating securities | -11,000 | -11,000 | -11,000 | -9,000 | -3,000 | -3,000 | -3,000 | -230,000 | -4,000 | ||||||||||||||
net income attributable to class a and class b common stockholders | 25,711,000 | 36,986,000 | 55,662,000 | 56,379,000 | 41,401,000 | -50,131,000 | 44,907,000 | 57,006,000 | 51,702,000 | 5,840,000 | |||||||||||||
expenses associated with initial public offering | 26,130,000 | ||||||||||||||||||||||
weighted-average shares outstanding, basic | 289,863,272 | 289,318,391 | |||||||||||||||||||||
weighted-average shares outstanding, diluted | 299,371,129 | 299,634,961 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | |||||||||||||||||||||||
current assets: | |||||||||||||||||||||||
cash and cash equivalents | 105,159,000 | 123,278,000 | 165,411,000 | 89,646,000 | 83,637,000 | 64,009,000 | 72,175,000 | 51,278,000 | 141,601,000 | 68,412,000 | 66,963,000 | 82,716,000 | 93,567,000 | 71,684,000 | 72,856,000 | 93,411,000 | 129,617,000 | 329,337,000 | 155,755,000 | 131,154,000 | 569,536,000 | 122,006,000 | 137,598,000 |
accounts receivable | 344,098,000 | 350,299,000 | 293,942,000 | 300,173,000 | 312,296,000 | 322,862,000 | 271,689,000 | 282,918,000 | 284,200,000 | 302,501,000 | 243,488,000 | 252,863,000 | 285,192,000 | 296,376,000 | 214,459,000 | 218,775,000 | 233,032,000 | 241,807,000 | 194,682,000 | 221,764,000 | 189,530,000 | 195,782,000 | 172,600,000 |
allowance for credit losses | -8,081,000 | ||||||||||||||||||||||
prepaid income taxes | 16,770,000 | 19,805,000 | 17,337,000 | 8,789,000 | 8,802,000 | 13,066,000 | 15,846,000 | 18,487,000 | 10,891,000 | 12,812,000 | 25,972,000 | 20,491,000 | 21,169,000 | 18,406,000 | 17,414,000 | 17,641,000 | 26,254,000 | 16,880,000 | 20,958,000 | 32,108,000 | 3,994,000 | 3,535,000 | 7,307,000 |
prepaid and other current assets | 60,283,000 | 53,260,000 | 57,916,000 | 50,018,000 | 50,056,000 | 50,531,000 | 52,955,000 | 43,101,000 | 46,716,000 | 44,797,000 | 46,128,000 | 44,043,000 | 39,849,000 | 38,732,000 | 32,224,000 | 34,717,000 | 32,644,000 | 34,348,000 | 35,062,000 | 26,864,000 | 25,118,000 | 24,694,000 | 27,897,000 |
total current assets | 518,229,000 | 539,033,000 | 526,830,000 | 439,522,000 | 446,055,000 | 442,073,000 | 403,819,000 | 386,685,000 | 473,685,000 | 419,557,000 | 374,239,000 | 391,457,000 | 431,741,000 | 415,895,000 | 326,151,000 | 355,491,000 | 414,061,000 | 615,831,000 | 400,102,000 | 405,494,000 | 781,808,000 | 340,258,000 | 338,910,000 |
property and equipment | 36,791,000 | 36,031,000 | 35,176,000 | 34,377,000 | 33,302,000 | 33,798,000 | 34,533,000 | 36,756,000 | 38,563,000 | 40,100,000 | 38,309,000 | 35,520,000 | 33,038,000 | 32,251,000 | 30,753,000 | 29,603,000 | 32,043,000 | 31,823,000 | 31,103,000 | 31,439,000 | 27,767,000 | 28,414,000 | 29,332,000 |
operating lease right-of-use assets | 45,717,000 | 31,141,000 | 31,099,000 | 31,473,000 | 31,765,000 | 32,303,000 | 36,425,000 | 34,868,000 | 36,454,000 | 38,476,000 | 41,434,000 | 43,248,000 | 38,946,000 | 40,249,000 | 41,499,000 | 45,124,000 | 49,432,000 | 50,818,000 | 48,642,000 | 52,599,000 | 41,691,000 | 46,128,000 | 46,006,000 |
intangible assets | 180,719,000 | 193,018,000 | 181,022,000 | 192,751,000 | 202,811,000 | 213,959,000 | 225,788,000 | 225,539,000 | 236,402,000 | 248,787,000 | 259,979,000 | 271,639,000 | 283,969,000 | 292,271,000 | 301,173,000 | 316,258,000 | 329,029,000 | 245,834,000 | 251,467,000 | 262,234,000 | 53,697,000 | 45,627,000 | 46,560,000 |
goodwill | 2,474,746,000 | 2,482,154,000 | 2,410,308,000 | 2,416,815,000 | 2,380,494,000 | 2,367,179,000 | 2,390,392,000 | 2,265,174,000 | 2,261,190,000 | 2,269,336,000 | 2,251,312,000 | 2,252,832,000 | 2,247,797,000 | 2,237,184,000 | 2,193,053,000 | 2,215,909,000 | 2,217,578,000 | 1,588,477,000 | 1,592,399,000 | 1,593,670,000 | 622,756,000 | 581,174,000 | 542,239,000 |
investments | 27,878,000 | 27,920,000 | 27,690,000 | 25,844,000 | 25,871,000 | 25,764,000 | 24,724,000 | 24,258,000 | 23,641,000 | 23,480,000 | 30,332,000 | 26,997,000 | 32,010,000 | 22,270,000 | 21,690,000 | 10,666,000 | 8,680,000 | 6,438,000 | 5,429,000 | 6,870,000 | 5,245,000 | 5,691,000 | 5,218,000 |
deferred income taxes | 163,011,000 | 170,368,000 | 176,376,000 | 201,702,000 | 199,405,000 | 198,286,000 | 207,821,000 | 206,259,000 | 208,152,000 | 212,831,000 | 61,664,000 | 68,681,000 | 52,484,000 | 52,636,000 | 52,751,000 | 62,473,000 | 47,683,000 | 71,376,000 | 77,418,000 | 54,705,000 | 42,133,000 | 39,224,000 | 44,543,000 |
other assets | 76,624,000 | 75,502,000 | 75,947,000 | 80,800,000 | 83,231,000 | 86,445,000 | 72,985,000 | 77,641,000 | 75,681,000 | 67,283,000 | 77,574,000 | 73,553,000 | 68,037,000 | 72,249,000 | 74,367,000 | 64,085,000 | 59,797,000 | 48,646,000 | 47,523,000 | 47,104,000 | 51,771,000 | 39,519,000 | 37,689,000 |
total assets | 3,523,715,000 | 3,555,167,000 | 3,464,448,000 | 3,423,284,000 | 3,402,934,000 | 3,399,807,000 | 3,396,487,000 | 3,257,180,000 | 3,353,768,000 | 3,319,850,000 | 3,134,843,000 | 3,163,927,000 | 3,188,022,000 | 3,165,005,000 | 3,041,437,000 | 3,099,609,000 | 3,158,303,000 | 2,659,243,000 | 2,454,083,000 | 2,454,115,000 | 1,626,868,000 | 1,126,035,000 | 1,090,497,000 |
liabilities and equity | |||||||||||||||||||||||
current liabilities: | |||||||||||||||||||||||
accounts payable | 21,269,000 | 26,952,000 | 17,841,000 | 24,480,000 | 24,498,000 | 16,479,000 | 30,514,000 | 23,901,000 | 23,568,000 | 18,094,000 | 26,389,000 | 37,423,000 | 28,781,000 | 15,176,000 | 16,860,000 | 16,395,000 | 19,058,000 | 16,483,000 | 12,502,000 | 14,891,000 | 15,947,000 | 16,492,000 | 15,086,000 |
accruals and other current liabilities | 170,655,000 | 173,255,000 | 158,299,000 | 153,821,000 | 163,858,000 | 536,417,000 | 494,911,000 | 500,007,000 | 539,775,000 | 457,348,000 | 403,428,000 | 398,883,000 | 420,935,000 | 362,048,000 | 337,442,000 | 339,395,000 | 351,273,000 | 323,603,000 | 317,271,000 | 314,529,000 | 296,497,000 | 226,793,000 | 212,866,000 |
cloud services subscription deposits | 525,718,000 | 463,312,000 | 427,750,000 | 414,791,000 | 447,907,000 | ||||||||||||||||||
deferred revenues | 265,981,000 | 278,244,000 | 234,824,000 | 246,646,000 | 244,075,000 | 245,729,000 | 225,291,000 | 236,624,000 | 242,037,000 | 253,785,000 | 211,815,000 | 231,473,000 | 234,775,000 | 226,955,000 | 186,358,000 | 201,598,000 | 215,448,000 | 224,610,000 | 189,683,000 | 215,678,000 | 186,396,000 | 202,294,000 | 173,578,000 |
operating lease liabilities | 13,312,000 | 13,669,000 | 11,797,000 | 11,908,000 | 11,744,000 | 11,656,000 | 12,079,000 | 11,429,000 | 11,178,000 | 11,645,000 | 11,430,000 | 12,533,000 | 14,147,000 | 14,672,000 | 15,078,000 | 16,595,000 | 16,963,000 | 17,482,000 | 18,003,000 | 18,694,000 | 15,894,000 | 16,610,000 | 15,629,000 |
income taxes payable | 9,931,000 | 4,778,000 | 9,944,000 | 6,718,000 | 13,905,000 | 4,053,000 | 19,434,000 | 13,817,000 | 11,275,000 | 9,491,000 | 18,879,000 | 21,383,000 | 14,862,000 | 4,507,000 | 8,405,000 | 12,431,000 | 5,048,000 | 6,696,000 | 11,974,000 | 5,761,000 | 11,721,000 | 3,366,000 | 5,100,000 |
current portion of long-term debt | 10,000,000 | 10,000,000 | 8,750,000 | 7,500,000 | 6,250,000 | 5,000,000 | 5,000,000 | 5,000,000 | 5,000,000 | 5,000,000 | |||||||||||||
total current liabilities | 1,006,866,000 | 960,210,000 | 860,455,000 | 858,364,000 | 905,987,000 | 814,334,000 | 782,229,000 | 785,778,000 | 837,833,000 | 760,363,000 | 680,691,000 | 709,195,000 | 719,750,000 | 628,358,000 | 569,143,000 | 591,414,000 | 612,790,000 | 593,874,000 | 549,433,000 | 569,553,000 | 526,455,000 | 465,555,000 | 422,259,000 |
long-term debt | 1,115,269,000 | 1,248,912,000 | 1,247,378,000 | 1,245,843,000 | 1,244,308,000 | 1,388,088,000 | 1,418,870,000 | 1,334,618,000 | 1,425,445,000 | 1,518,403,000 | 1,580,752,000 | 1,629,483,000 | 1,668,781,000 | 1,775,696,000 | 1,776,610,000 | 1,825,505,000 | 1,871,527,000 | 1,430,992,000 | 1,302,845,000 | 1,269,842,000 | 672,599,000 | 246,000,000 | 589,583,000 |
deferred compensation plan liabilities | 105,209,000 | 106,831,000 | 104,857,000 | 98,895,000 | 94,962,000 | 96,684,000 | 97,932,000 | 91,172,000 | 93,402,000 | 88,181,000 | 79,537,000 | 82,641,000 | 80,674,000 | 77,014,000 | 71,013,000 | 75,525,000 | 89,282,000 | 94,890,000 | 89,174,000 | ||||
long-term operating lease liabilities | 36,982,000 | 22,150,000 | 24,072,000 | 24,986,000 | 26,092,000 | 26,894,000 | 27,954,000 | 26,950,000 | 28,812,000 | 30,626,000 | 31,355,000 | 32,273,000 | 26,651,000 | 27,670,000 | 28,776,000 | 31,024,000 | 34,907,000 | 35,274,000 | 32,583,000 | 35,968,000 | 27,861,000 | 31,767,000 | 32,555,000 |
other liabilities | 10,406,000 | 4,794,000 | 5,082,000 | 6,086,000 | 5,420,000 | 3,819,000 | 4,242,000 | 3,383,000 | 2,735,000 | 5,378,000 | 4,311,000 | 5,192,000 | 7,313,000 | 7,355,000 | 7,734,000 | 9,009,000 | 13,104,000 | 14,269,000 | 17,352,000 | 21,334,000 | 16,660,000 | 15,362,000 | 15,229,000 |
total liabilities | 2,297,827,000 | 2,365,675,000 | 2,269,098,000 | 2,261,114,000 | 2,305,245,000 | 2,358,687,000 | 2,362,477,000 | 2,272,674,000 | 2,421,161,000 | 2,435,868,000 | 2,442,682,000 | 2,520,155,000 | 2,573,832,000 | 2,591,551,000 | 2,521,238,000 | 2,602,616,000 | 2,700,650,000 | 2,250,021,000 | 2,075,085,000 | 1,982,301,000 | 1,272,871,000 | 784,436,000 | 1,083,324,000 |
commitments and contingencies | |||||||||||||||||||||||
equity: | |||||||||||||||||||||||
preferred stock, 0.01 par value... | |||||||||||||||||||||||
class a common stock, 0.01 par value... | 115,000 | 115,000 | 115,000 | 115,000 | 115,000 | 115,000 | 115,000 | 115,000 | 115,000 | 115,000 | 2,952,000 | 2,947,000 | 2,915,000 | 2,890,000 | 2,884,000 | 2,882,000 | 2,851,000 | 2,825,000 | 2,820,000 | 2,812,000 | 2,737,000 | 2,722,000 | 2,622,000 |
class b common stock, 0.01 par value... | 2,921,000 | 2,909,000 | 2,919,000 | 2,919,000 | 2,914,000 | 2,905,000 | 2,905,000 | 2,882,000 | 2,865,000 | 2,848,000 | |||||||||||||
additional paid-in capital | 1,325,977,000 | 1,301,205,000 | 1,283,584,000 | 1,259,476,000 | 1,239,817,000 | 1,217,986,000 | 1,201,442,000 | 1,176,630,000 | 1,154,137,000 | 1,127,234,000 | 1,108,816,000 | 1,085,066,000 | 1,060,842,000 | 1,030,466,000 | 1,005,075,000 | 981,203,000 | 957,498,000 | 937,805,000 | 921,410,000 | 910,951,000 | 732,635,000 | 741,113,000 | 441,723,000 |
accumulated other comprehensive loss | -80,727,000 | -74,558,000 | -77,445,000 | -69,095,000 | -97,583,000 | -104,078,000 | -82,959,000 | -93,264,000 | -92,619,000 | -84,987,000 | -95,128,000 | -87,828,000 | -89,374,000 | -89,740,000 | -101,929,000 | -89,131,000 | -75,324,000 | -91,774,000 | -81,880,000 | -54,886,000 | -35,394,000 | -26,233,000 | -29,211,000 |
accumulated deficit | -22,439,000 | -40,258,000 | -13,870,000 | -31,374,000 | -47,681,000 | -75,941,000 | -88,197,000 | -102,561,000 | -132,595,000 | -161,932,000 | -325,183,000 | -357,117,000 | -360,897,000 | -370,866,000 | -385,831,000 | -397,961,000 | -427,372,000 | -439,634,000 | -463,352,000 | -387,063,000 | -345,981,000 | -376,003,000 | -407,961,000 |
total bentley systems stockholders’ equity | 1,225,847,000 | 1,189,413,000 | 1,195,303,000 | 1,162,041,000 | 1,097,582,000 | 1,040,987,000 | |||||||||||||||||
noncontrolling interest | 41,000 | 79,000 | 47,000 | 129,000 | 107,000 | 133,000 | |||||||||||||||||
total equity | 1,225,888,000 | 1,189,492,000 | 1,195,350,000 | 1,162,170,000 | 1,097,689,000 | 1,041,120,000 | |||||||||||||||||
total liabilities and equity | 3,523,715,000 | 3,555,167,000 | 3,464,448,000 | 3,423,284,000 | 3,402,934,000 | 3,399,807,000 | |||||||||||||||||
allowance for doubtful accounts | -7,609,000 | -7,776,000 | -9,104,000 | -8,736,000 | -8,395,000 | -8,846,000 | -9,099,000 | -9,723,000 | -8,965,000 | -8,312,000 | -8,656,000 | -8,036,000 | -9,303,000 | -10,802,000 | -9,053,000 | -7,486,000 | -6,541,000 | -6,355,000 | -6,396,000 | -6,370,000 | -5,759,000 | -6,492,000 | |
liabilities and stockholders’ equity | |||||||||||||||||||||||
stockholders’ equity: | |||||||||||||||||||||||
non-controlling interest | 704,000 | 704,000 | 704,000 | 704,000 | 704,000 | 704,000 | 704,000 | 704,000 | |||||||||||||||
total stockholders’ equity | 1,034,010,000 | 984,506,000 | 932,607,000 | 883,982,000 | 692,161,000 | 643,772,000 | 614,190,000 | 573,454,000 | 520,199,000 | 496,993,000 | 457,653,000 | 409,222,000 | 378,998,000 | 471,814,000 | 353,997,000 | 341,599,000 | 7,173,000 | ||||||
total liabilities and stockholders’ equity | 3,396,487,000 | 3,257,180,000 | 3,353,768,000 | 3,319,850,000 | 3,134,843,000 | 3,163,927,000 | 3,188,022,000 | 3,165,005,000 | 3,041,437,000 | 3,099,609,000 | 3,158,303,000 | 2,659,243,000 | 2,454,083,000 | 2,454,115,000 | 1,626,868,000 | 1,126,035,000 | 1,090,497,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities: | ||||||||||||||||||||||
net income | 95,349,000 | 58,667,000 | 57,289,000 | 70,500,000 | 91,338,000 | 49,739,000 | 42,338,000 | 72,046,000 | 70,310,000 | 179,585,000 | 53,027,000 | 48,685,000 | 45,490,000 | 25,722,000 | 36,997,000 | 55,673,000 | 56,388,000 | 41,404,000 | -50,128,000 | 44,910,000 | 57,006,000 | 51,932,000 |
adjustments to reconcile net income to net cash from operating activities: | ||||||||||||||||||||||
depreciation and amortization | 16,141,000 | 15,749,000 | 15,640,000 | 16,030,000 | 15,982,000 | 16,385,000 | 17,483,000 | 17,247,000 | 18,057,000 | 17,893,000 | 17,914,000 | 18,518,000 | 17,212,000 | 16,847,000 | 16,666,000 | 10,287,000 | 8,993,000 | 10,281,000 | ||||
deferred income taxes | 8,207,000 | 994,000 | 25,985,000 | -1,430,000 | -1,216,000 | 5,515,000 | -1,610,000 | 3,364,000 | 5,302,000 | -184,246,000 | 14,303,000 | -24,757,000 | -4,178,000 | 8,544,000 | 3,136,000 | -25,848,000 | 9,042,000 | -1,957,000 | -16,873,000 | -1,881,000 | 966,000 | 8,393,000 |
stock-based compensation expense | 20,192,000 | 17,539,000 | 18,042,000 | 19,593,000 | 17,402,000 | 16,561,000 | 16,097,000 | 22,101,000 | 19,658,000 | 16,880,000 | 18,504,000 | 18,104,000 | 19,484,000 | 23,847,000 | 18,791,000 | 17,469,000 | 15,099,000 | 16,192,000 | 12,255,000 | 11,685,000 | 8,913,000 | 8,497,000 |
deferred compensation plan | -1,074,000 | 2,038,000 | 6,033,000 | 7,584,000 | -1,246,000 | -1,283,000 | 6,983,000 | 883,000 | 5,799,000 | 8,817,000 | -3,160,000 | 3,777,000 | 4,146,000 | 6,091,000 | -4,576,000 | -12,159,000 | -5,138,000 | |||||
amortization of deferred debt issuance costs | 1,135,000 | 1,893,000 | 1,894,000 | 1,894,000 | 1,894,000 | 1,784,000 | 1,804,000 | 1,927,000 | 1,823,000 | 1,823,000 | 1,823,000 | 1,823,000 | ||||||||||
change in fair value of derivative | -76,000 | 945,000 | 1,582,000 | 3,339,000 | 4,372,000 | -5,580,000 | 7,931,000 | 429,000 | -2,790,000 | 9,140,000 | -4,765,000 | -3,826,000 | 4,489,000 | 2,235,000 | -9,828,000 | -7,406,000 | -12,084,000 | -572,000 | -1,463,000 | 5,926,000 | -13,661,000 | -3,712,000 |
foreign currency remeasurement loss | 180,000 | -530,000 | -353,000 | -659,000 | -628,000 | 2,246,000 | -1,744,000 | -3,650,000 | 3,342,000 | -1,162,000 | 1,018,000 | -8,445,000 | 8,697,000 | 4,071,000 | 1,677,000 | 2,474,000 | -1,788,000 | -583,000 | -15,435,000 | |||
other | 665,000 | 6,828,000 | -1,747,000 | 418,000 | 175,000 | 9,527,000 | -18,000 | -2,814,000 | 1,099,000 | 18,583,000 | ||||||||||||
changes in assets and liabilities, net of effect from acquisitions: | ||||||||||||||||||||||
accounts receivable | 4,886,000 | -59,397,000 | 4,243,000 | 22,224,000 | 14,346,000 | -66,652,000 | 20,258,000 | -178,000 | 14,508,000 | -61,245,000 | 6,894,000 | 33,751,000 | 15,420,000 | -73,488,000 | -3,031,000 | 6,890,000 | 8,691,000 | -61,824,000 | 30,970,000 | -19,568,000 | 14,903,000 | -34,273,000 |
prepaid and other assets | -5,251,000 | 8,415,000 | -5,408,000 | 4,594,000 | 2,942,000 | 3,946,000 | -9,367,000 | 4,736,000 | -5,321,000 | 5,358,000 | -882,000 | -12,501,000 | 12,137,000 | 6,274,000 | 4,454,000 | -2,393,000 | 5,718,000 | 2,950,000 | 825,000 | 2,228,000 | 8,257,000 | 2,798,000 |
accounts payable, accruals, and other liabilities | -11,056,000 | 18,544,000 | -7,588,000 | -21,040,000 | -8,356,000 | 38,597,000 | -5,266,000 | -43,449,000 | 85,071,000 | 35,296,000 | -8,532,000 | -11,158,000 | 53,127,000 | 416,000 | 3,082,000 | -1,108,000 | 26,791,000 | 18,311,000 | -5,857,000 | |||
cloud services subscription deposits | 65,852,000 | 34,831,000 | 14,933,000 | -47,063,000 | 74,489,000 | |||||||||||||||||
deferred revenues | -9,994,000 | 43,375,000 | -11,169,000 | -6,662,000 | -6,538,000 | 29,723,000 | -16,624,000 | -5,631,000 | -9,257,000 | 37,621,000 | -15,896,000 | -3,734,000 | 1,942,000 | 29,017,000 | -6,433,000 | -7,777,000 | -12,515,000 | 41,938,000 | -31,842,000 | 17,133,000 | -21,889,000 | 34,569,000 |
income taxes payable, net of prepaid income taxes | 8,252,000 | -8,309,000 | -6,096,000 | -10,187,000 | 14,198,000 | -15,797,000 | 8,177,000 | -9,056,000 | 4,126,000 | 4,018,000 | -8,251,000 | 6,406,000 | 7,679,000 | -2,203,000 | -2,435,000 | 15,772,000 | -10,814,000 | -2,689,000 | 13,987,000 | |||
net cash from operating activities | 193,408,000 | 141,588,000 | 116,376,000 | 61,085,000 | 219,415,000 | 81,632,000 | 86,105,000 | 62,586,000 | 204,969,000 | 87,053,000 | 72,824,000 | 80,596,000 | 176,223,000 | 36,126,000 | 69,468,000 | 66,999,000 | 101,731,000 | 80,607,000 | 58,395,000 | 16,224,000 | 132,798,000 | 82,315,000 |
capital expenditures | -5,551,000 | -5,419,000 | -5,701,000 | -4,091,000 | -3,044,000 | -5,547,000 | -1,810,000 | -3,090,000 | -3,599,000 | -6,096,000 | -7,653,000 | -6,969,000 | -4,284,000 | -5,564,000 | -6,393,000 | -2,413,000 | -4,176,000 | -6,387,000 | -6,402,000 | -2,095,000 | -2,655,000 | -2,691,000 |
free cash flows | 187,857,000 | 136,169,000 | 110,675,000 | 56,994,000 | 216,371,000 | 76,085,000 | 84,295,000 | 59,496,000 | 201,370,000 | 80,957,000 | 65,171,000 | 73,627,000 | 171,939,000 | 30,562,000 | 63,075,000 | 64,586,000 | 97,555,000 | 74,220,000 | 51,993,000 | 14,129,000 | 130,143,000 | 79,624,000 |
cash flows from investing activities: | ||||||||||||||||||||||
purchases of property and equipment and investment in capitalized software | -5,551,000 | -5,419,000 | -5,701,000 | -4,091,000 | -3,044,000 | -5,547,000 | -1,810,000 | -3,090,000 | -3,599,000 | -6,096,000 | -7,653,000 | -6,969,000 | -4,284,000 | -5,564,000 | -6,393,000 | -2,413,000 | -4,176,000 | -6,387,000 | -6,402,000 | -2,095,000 | -2,655,000 | -2,691,000 |
net cash from investing activities | -5,551,000 | -98,535,000 | -6,639,000 | -4,091,000 | -3,044,000 | -7,587,000 | -124,734,000 | -7,097,000 | -3,849,000 | -9,259,000 | -21,493,000 | -8,991,000 | -20,761,000 | -29,682,000 | -16,478,000 | -23,392,000 | -700,575,000 | -8,756,000 | -39,846,000 | -947,371,000 | -60,630,000 | -28,525,000 |
cash flows from financing activities: | ||||||||||||||||||||||
proceeds from credit facility | 820,537,000 | |||||||||||||||||||||
repayments of credit facility | -277,126,000 | |||||||||||||||||||||
repayment of convertible senior notes | -677,830,000 | |||||||||||||||||||||
payments of dividends | -21,225,000 | -21,207,000 | -21,263,000 | -21,295,000 | -21,198,000 | -18,130,000 | -18,134,000 | -17,980,000 | -17,871,000 | -14,764,000 | -14,768,000 | -14,702,000 | -14,522,000 | -8,665,000 | -8,665,000 | -8,635,000 | -8,528,000 | -8,320,000 | -8,485,000 | -8,372,000 | -8,219,000 | -9,794,000 |
proceeds from stock purchases under employee stock purchase plan | 5,500,000 | 0 | 6,222,000 | 0 | 5,312,000 | 0 | 5,668,000 | 0 | 5,560,000 | 0 | 5,431,000 | 0 | 4,557,000 | 0 | 5,724,000 | 0 | 4,611,000 | 0 | ||||
payments for shares acquired including shares withheld for taxes | -14,226,000 | -3,805,000 | -3,603,000 | -15,343,000 | -9,436,000 | -1,305,000 | -1,573,000 | -1,527,000 | -8,099,000 | -1,410,000 | -6,325,000 | -30,254,000 | -20,948,000 | -1,348,000 | -1,693,000 | -5,403,000 | -35,117,000 | -9,233,000 | -23,470,000 | -69,073,000 | -18,763,000 | -11,499,000 |
repurchases of class b common stock under approved program | -40,021,000 | -60,028,000 | -15,006,000 | -20,009,000 | -30,014,000 | -18,590,000 | -8,254,000 | -22,509,000 | -15,006,000 | |||||||||||||
net cash from financing activities | -204,441,000 | -85,091,000 | -33,698,000 | -56,701,000 | -200,808,000 | -76,632,000 | 57,781,000 | -144,564,000 | -126,435,000 | -79,055,000 | -64,043,000 | -81,735,000 | -134,241,000 | -11,658,000 | -71,081,000 | -74,158,000 | 399,931,000 | 112,933,000 | 3,139,000 | 494,373,000 | 372,137,000 | -66,381,000 |
effect of exchange rate changes on cash and cash equivalents | -1,535,000 | -95,000 | -274,000 | 5,716,000 | 4,065,000 | -5,579,000 | 1,745,000 | -1,248,000 | -1,496,000 | 2,710,000 | -3,041,000 | -721,000 | 662,000 | 4,042,000 | -2,464,000 | -5,655,000 | -807,000 | -11,202,000 | 2,913,000 | -1,608,000 | 3,225,000 | -3,001,000 |
increase in cash and cash equivalents | -18,119,000 | -42,133,000 | 75,765,000 | 6,009,000 | 19,628,000 | 20,897,000 | -90,323,000 | 73,189,000 | -10,851,000 | 21,883,000 | -1,172,000 | -20,555,000 | -36,206,000 | -199,720,000 | 173,582,000 | 24,601,000 | -438,382,000 | 447,530,000 | -15,592,000 | |||
cash and cash equivalents, beginning of period | 123,278,000 | 0 | 0 | 64,009,000 | ||||||||||||||||||
cash and cash equivalents, end of period | 105,159,000 | 75,765,000 | 6,009,000 | 83,637,000 | 20,897,000 | -90,323,000 | 141,601,000 | -15,753,000 | -10,851,000 | 93,567,000 | -20,555,000 | -36,206,000 | 129,617,000 | 24,601,000 | -438,382,000 | 569,536,000 | ||||||
depreciation, amortization, and impairment | 15,755,000 | |||||||||||||||||||||
acquisitions, net of cash acquired | -1,633,000 | -123,774,000 | -2,913,000 | -12,811,000 | 0 | -10,299,000 | -23,468,000 | -5,342,000 | -18,229,000 | -695,968,000 | ||||||||||||
purchases of investments | -43,000 | -628,000 | -250,000 | -307,000 | -250,000 | -250,000 | -3,152,000 | -2,022,000 | -6,178,000 | |||||||||||||
proceeds from investments | 0 | |||||||||||||||||||||
proceeds from credit facilities | 30,817,000 | 22,661,000 | 113,840,000 | 122,249,000 | 284,362,000 | 181,557,000 | 11,886,000 | 39,838,000 | 145,588,000 | 154,179,000 | 171,248,000 | 117,139,000 | 79,916,000 | 95,395,000 | 94,069,000 | 563,912,000 | 63,227,000 | 100,850,000 | 565,233,000 | 16,000,000 | 118,500,000 | |
payments of credit facilities | -30,817,000 | -22,661,000 | -113,839,000 | -257,565,000 | -266,748,000 | -63,856,000 | -11,886,000 | -131,866,000 | -207,005,000 | -201,979,000 | -209,615,000 | -223,124,000 | -78,980,000 | -144,607,000 | -140,411,000 | -123,696,000 | -131,082,000 | -69,382,000 | -528,846,000 | -262,000,000 | -337,500,000 | |
repayments of term loan | -50,000,000 | -35,000,000 | -102,500,000 | -2,500,000 | -1,250,000 | -1,250,000 | ||||||||||||||||
repurchase of convertible senior notes | 0 | 0 | 0 | -9,797,000 | ||||||||||||||||||
payments of debt issuance costs | 0 | -692,000 | -1,174,000 | -3,777,000 | 0 | |||||||||||||||||
payments of contingent and non-contingent consideration | 0 | 0 | 0 | -310,000 | 0 | -2,571,000 | 0 | -451,000 | -1,285,000 | -179,000 | -2,611,000 | -249,000 | ||||||||||
proceeds from exercise of stock options | 0 | 0 | 0 | 4,007,000 | 1,125,000 | 890,000 | 5,498,000 | 4,202,000 | 1,483,000 | 994,000 | 3,093,000 | 2,768,000 | 566,000 | 715,000 | 2,573,000 | 1,751,000 | ||||||
cash and cash equivalents, beginning of year | 0 | 0 | 0 | 68,412,000 | 0 | 0 | 0 | 71,684,000 | 0 | 0 | 0 | 329,337,000 | 0 | 0 | 0 | 122,006,000 | 0 | |||||
cash and cash equivalents, end of year | ||||||||||||||||||||||
foreign currency remeasurement gain | -25,000 | |||||||||||||||||||||
proceeds from sale of aircraft | 0 | 0 | 0 | 2,380,000 | ||||||||||||||||||
settlement of convertible senior notes | ||||||||||||||||||||||
decrease in cash and cash equivalents | ||||||||||||||||||||||
amortization and write-off of deferred debt issuance costs | 1,823,000 | 1,822,000 | 1,868,000 | 1,778,000 | 1,795,000 | 1,789,000 | 1,142,000 | 1,229,000 | ||||||||||||||
proceeds from convertible senior notes, net of discounts and commissions | 0 | 0 | 560,627,000 | 672,750,000 | ||||||||||||||||||
purchase of capped call options | -50,000 | 0 | -26,025,000 | -25,530,000 | ||||||||||||||||||
proceeds from term loan | 0 | |||||||||||||||||||||
other non-cash items | 7,941,000 | -4,411,000 | 3,599,000 | |||||||||||||||||||
repurchase of class b common stock under approved program | 0 | -15,008,000 | ||||||||||||||||||||
other financing activities | -49,000 | -46,000 | ||||||||||||||||||||
repayments from term loan | -1,250,000 | |||||||||||||||||||||
other investing activities | -650,000 | -4,743,000 | -2,750,000 | -2,811,000 | -1,081,000 | -2,300,000 | -1,499,000 | |||||||||||||||
proceeds from term loans | ||||||||||||||||||||||
repayments from term loans | ||||||||||||||||||||||
payments of acquisition debt and other consideration | -1,464,000 | -1,937,000 | -2,338,000 | -2,721,000 | -1,630,000 | -197,000 | -519,000 | -25,000 | -1,391,000 | |||||||||||||
proceeds from class b common stock follow-on offering, net of underwriters’ discounts and commissions | ||||||||||||||||||||||
payments of class b common stock follow-on offering expenses | ||||||||||||||||||||||
proceeds from common stock purchase agreement | 0 | |||||||||||||||||||||
bad debt allowance | 1,408,000 | 2,836,000 | 955,000 | 737,000 | 175,000 | -455,000 | 746,000 | |||||||||||||||
repayment of term loan | -1,250,000 | -1,250,000 | -1,250,000 | |||||||||||||||||||
payments of financing leases | -34,000 | -41,000 | -48,000 | -50,000 | -46,000 | -51,000 | -50,000 | -48,000 | ||||||||||||||
change in fair value of contingent consideration | 0 | 500,000 | 0 | |||||||||||||||||||
change on fair value of investments | 0 | -112,000 | ||||||||||||||||||||
gain on sale of aircraft | 0 | -2,029,000 | ||||||||||||||||||||
loss from investment accounted for using the equity method, net of tax | 593,000 | 572,000 | 664,000 | 1,829,000 | 446,000 | 1,027,000 | ||||||||||||||||
income from investment accounted for using the equity method, net of tax | ||||||||||||||||||||||
deferred compensation plan liabilities | 6,318,000 | |||||||||||||||||||||
acquisitions, net of cash acquired of 37,837 and 2,064, respectively | ||||||||||||||||||||||
deferred compensation plan activity | 834,000 | 1,021,000 | 1,219,000 | |||||||||||||||||||
acquisitions, net of cash acquired of 36,847 and 2,064, respectively | ||||||||||||||||||||||
accounts payable, accruals and other liabilities | 54,977,000 | 16,170,000 | ||||||||||||||||||||
income taxes payable | 11,474,000 | 753,000 | ||||||||||||||||||||
acquisitions, net of cash acquired of 1,326 and 1,986, respectively | -57,975,000 | |||||||||||||||||||||
bad debt (recovery) allowance | ||||||||||||||||||||||
capitalization of costs to translate software products into foreign languages | -223,000 | |||||||||||||||||||||
acquisitions, net of cash acquired of 5,266, 2,523, and 7,774, respectively | ||||||||||||||||||||||
supplemental information: | ||||||||||||||||||||||
cash paid for income taxes | 11,648,000 | |||||||||||||||||||||
income tax refunds | 2,233,000 | |||||||||||||||||||||
interest paid | 3,354,000 | |||||||||||||||||||||
non-cash contingent acquisition consideration | 478,000 | |||||||||||||||||||||
non-cash deferred, non-contingent consideration | ||||||||||||||||||||||
provision for accounts receivable allowance | ||||||||||||||||||||||
acquisitions, net of cash acquired of 2,064 and 980, respectively | ||||||||||||||||||||||
net proceeds from exercise of common stock options and restricted stock | ||||||||||||||||||||||
non-cash deferred acquisition consideration |