Bentley Systems (BSY) Company presentation summary

Investment highlights

• Recognized as a global leader in infrastructure engineering software, with a strong recurring revenue base and low revenue concentration.

• Consistent double-digit ARR growth driven by targeted initiatives and favorable market trends.

• Operating leverage supports ongoing margin expansion and robust cash flow, enabling acquisitions, dividends, and buybacks.

• Completed leadership succession with founding family maintaining majority ownership and board representation.

Market and product comprehensiveness

• Solutions span all major infrastructure sectors, including public works, utilities, transportation, and industrial markets.

• Product portfolio covers the full asset lifecycle, from modeling and simulation to digital twins and asset analytics.

• Over 42,000 accounts in 189 countries, with $1.5B+ in revenues and 70+ offices worldwide.

• Market leader in multiple infrastructure software categories, including BIM and asset reliability.

Growth initiatives

• E365 enterprise accounts drive accretive ARR growth, with increasing penetration among top global design firms and infrastructure owners.

• Virtuoso targets SMBs, contributing 3-4% ARR growth and adding 600+ new customers per quarter.

• Asset Analytics leverages AI and digital twins to expand into operations and maintenance, achieving a $50M run rate.

• Infrastructure AI initiative integrates AI across the portfolio, enhancing design, delivery, and asset performance workflows.