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


ANSYS, INC. AND SUBSIDIARIES  
Condensed Consolidated Statements of Income  
(Unaudited)  

  Three Months Ended  Nine Months Ended
(in thousands, except per share data) September 30,
2021
  September 30,
2020
  September 30,
2021
  September 30,
2020
Revenue:       
Software licenses $ 200,394   $141,622    $ 547,820   $398,793  
Maintenance and service 240,774   225,343    703,228   658,818  
Total revenue 441,168   366,965    1,251,048   1,057,611  
Cost of sales:       
Software licenses 8,289       7,251       23,960       20,688    
Amortization 15,189       9,911       45,163       29,227    
Maintenance and service 39,268       36,223       119,884       107,446    
Total cost of sales 62,746       53,385       189,007       157,361    
Gross profit 378,422       313,580       1,062,041       900,250    
Operating expenses:              
Selling, general and administrative 165,368       132,642       471,993       391,862    
Research and development 102,023       86,616       303,381       258,861    
Amortization 3,403       4,237       12,244       12,562    
Total operating expenses 270,794       223,495       787,618       663,285    
Operating income 107,628       90,085       274,423       236,965    
Interest income 541       754       1,544       4,463    
Interest expense (2,943 )     (1,853 )     (9,594 )     (8,544 )  
Other (expense) income, net (1,328 )     1,158       14,008       3,169    
Income before income tax provision 103,898       90,144       280,381       236,053    
Income tax provision 18,556       14,517       28,925       17,798    
Net income $ 85,342       $ 75,627       $ 251,456       $ 218,255    
Earnings per share – basic:              
Earnings per share $ 0.98       $ 0.88       $ 2.89       $ 2.55    
Weighted average shares 87,239       85,798       87,072       85,749    
Earnings per share – diluted:              
Earnings per share $ 0.97       $ 0.87       $ 2.86       $ 2.50    
Weighted average shares 88,169       87,224       88,069       87,176    



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