Ansys Announces Q3 2021 Financial Results With Record Q3 ACV, Revenue and Cash Flow

(in millions, except percentages) Other Financial Metrics
ACV$1,825.0-$1,860.0
ACV Growth Rate12.9 %-15.1 %
ACV Growth Rate — Constant Currency12.6 %-14.7 %
Operating cash flows$505.0-$535.0

The FY 2021 ACV and revenue guidance assumes approximately $6 to $8 million of contribution from Zemax. This contribution is offset by an incremental headwind of approximately $6 to $8 million of negative currency impact relative to our guidance initiated in August. The currency headwind has an adverse impact of approximately $0.05 per share on FY 2021 earnings per share guidance and an approximately $3 to $5 million adverse impact on FY 2021 operating cash flow guidance. The contribution from Zemax has an immaterial impact to FY 2021 earnings per share and operating cash flow guidance.

Additionally, as Q3 2021 ACV was in-line with internal expectations, the raise to FY 2021 ACV is driven by increased confidence in the Q4 2021 sales pipeline.

/ Conference Call Information

Ansys will hold a conference call at 8:30 a.m. Eastern Time on November 4, 2021 to discuss third quarter results. The Company will provide its prepared remarks on the Company’s investor relations homepage and as an exhibit in its Form 8-K in advance of the call to provide stockholders and analysts with additional time and detail for analyzing its results in preparation for the conference call. The prepared remarks will not be read on the call, and only brief remarks will be made prior to the Q&A session.

To participate in the live conference call, dial 855-239-2942 (US) or 412-542-4124 (Canada & Int’l). The call will be recorded and a replay will be available within two hours after the call. The replay will be available by dialing (877) 344-7529 (US), (855) 669-9658 (Canada) or (412) 317-0088 (Int’l) and entering the passcode 10159509. The archived webcast can be accessed, along with other financial information, on Ansys' website at https://investors.ansys.com/events-and-presentations/events-calendar.

/ GAAP Financial Statements

ANSYS, INC. AND SUBSIDIARIES  
Condensed Consolidated Balance Sheets  
(Unaudited)  

(in thousands) September 30, 2021  December 31, 2020
ASSETS:   
Cash & short-term investments $ 1,081,365  $913,151 
Accounts receivable, net 475,829  537,564 
Goodwill 3,101,623  3,038,306 
Other intangibles, net 667,268  694,865 
Other assets 648,667  756,704 
Total assets $ 5,974,752     $ 5,940,590  
LIABILITIES & STOCKHOLDERS' EQUITY:      
Current deferred revenue $ 318,032     $ 372,061  
Long-term debt 753,451     798,118  
Other liabilities 564,025     672,539  
Stockholders' equity 4,339,244     4,097,872  
Total liabilities & stockholders' equity $ 5,974,752     $ 5,940,590  

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