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Bentley Systems, Incorporated BSY Perpetual licenses — Total revenues

Other product segments

Enterprise subscriptions
$169.2M+11.6%
Enterprise 365 subscriptions
$168.73M+12.4%
Term license subscriptions
$143.15M+25.0%
SELECT subscriptions
$66.28M-1.5%
Other
$18.53M+15.9%
Recurring
$3.85M-13.7%

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Other financials

Income statement

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Revenue$410.7M+12.8%
Gross profit$336.7M+14.0%
Operating income$88.6M+4.9%
Net income$78.6M+11.5%
EPS (diluted)$0.25+13.6%

Balance sheet

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Cash & equivalents$147.0M+64.0%
Total debt$1.3B-1.2%
Total equity$1.2B+3.4%
Total assets$3.6B+4.7%

Cash flow

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Operating cash flow$71.5M+17.1%
CapEx$7.7M+88.6%
Free cash flow$63.8M+11.9%

Valuation

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Market cap$10.95B-34.6%
Enterprise value$12.07B-32.7%
P/E37.8×-28.1×
P/S6.8×-5.0×

Profitability

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Gross margin81.8%+0.7pp
Operating margin23.6%+0.4pp
Net margin18.1%+0.2pp
FCF margin31.1%+0.6pp

Returns & leverage

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Return on equity24.5%
Debt / equity1.1×0.0×
Current ratio0.6×+0.1×

Where this comes from

Reported directly by Bentley Systems, Incorporated in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The source filing: Bentley Systems, Incorporated’s 10-Q, filed August 6, 2026.

Filed
Aug 6, 2026, 4:12 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001031308-26-000023
Line itemThree Months Ended / June 30, 2026Three Months Ended / June 30, 2025Six Months Ended / June 30, 2026Six Months Ended / June 30, 2025
Revenues:
Subscriptions$378,635$333,452$771,119$675,770
Perpetual licenses9,70710,19318,76420,985
Subscriptions and licenses388,342343,645789,883696,755
Services22,38520,46145,02537,893
Total revenues410,727364,106834,908734,648
Cost of revenues:
Cost of subscriptions and licenses54,02747,758107,12594,256

Item 1. Unaudited Consolidated Financial Statements

FAQ

What is Bentley Systems, Incorporated's perpetual licenses — total revenues?
Bentley Systems, Incorporated (BSY) reported perpetual licenses — total revenues of $9.71M in Q2 2026.
How has Bentley Systems, Incorporated's perpetual licenses — total revenues changed year-over-year?
Bentley Systems, Incorporated's perpetual licenses — total revenues decreased by 4.8% year-over-year, from $10.19M to $9.71M.
What is the long-term trend for Bentley Systems, Incorporated's perpetual licenses — total revenues?
Over 4 years (2021 to 2025), Bentley Systems, Incorporated's perpetual licenses — total revenues has grown at a -3.4% compound annual growth rate (CAGR), from $53.08M to $46.18M.
What does perpetual licenses — total revenues mean?
This metric represents the total revenue generated from the sale of perpetual software licenses, which grant customers the right to use a specific version of the software indefinitely. Unlike subscription-based models, this revenue stream is typically recognized upfront or over a defined period depending on the license terms and accounting standards. It reflects the company's ability to monetize legacy product offerings and capture value from customers who prefer one-time capital expenditures over recurring operational expenses.

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