About Bentley Systems
Bentley Systems (Nasdaq:
BSY) is the infrastructure engineering software company. We provide innovative software to advance the world’s infrastructure – sustaining both the global economy and environment. Our industry-leading software solutions are used by professionals, and organizations of every size, for the design, construction, and operations of roads and bridges, rail and transit, water and wastewater, public works and utilities, buildings and campuses, mining, and industrial facilities. Our offerings include MicroStation-based applications for modeling and simulation, ProjectWise for project delivery, AssetWise for asset and network performance, Seequent’s leading geoprofessional software portfolio, and the iTwin platform for infrastructure digital twins. Bentley Systems employs more than 4,500 colleagues and generates annual revenues of approximately $1 billion in 186 countries.
www.bentley.com
© 2022 Bentley Systems, Incorporated. Bentley, the Bentley logo, AssetWise, iTwin, MicroStation, ProjectWise, Seequent, and Power Line Systems are either registered or unregistered trademarks or service marks of Bentley Systems, Incorporated or one of its direct or indirect wholly owned subsidiaries. All other brands and product names are trademarks of their respective owners.
BENTLEY SYSTEMS, INCORPORATED AND SUBSIDIARIES
Consolidated Balance Sheets
(in thousands)
(unaudited)
|
|
June 30, 2022 |
|
December 31, 2021 |
||||
Assets |
|
|
|
|
||||
Current assets: |
|
|
|
|
||||
Cash and cash equivalents |
|
$ |
93,411 |
|
|
$ |
329,337 |
|
Accounts receivable |
|
|
218,775 |
|
|
|
241,807 |
|
Allowance for doubtful accounts |
|
|
(9,053 |
) |
|
|
(6,541 |
) |
Prepaid income taxes |
|
|
17,641 |
|
|
|
16,880 |
|
Prepaid and other current assets |
|
|
34,717 |
|
|
|
34,348 |
|
Total current assets |
|
|
355,491 |
|
|
|
615,831 |
|
Property and equipment, net |
|
|
29,603 |
|
|
|
31,823 |
|
| Operating lease right-of-use assets |
|
|
45,124 |
|
|
|
50,818 |
|
| Intangible assets, net |
|
|
316,258 |
|
|
|
245,834 |
|
| Goodwill |
|
|
2,215,909 |
|
|
|
1,588,477 |
|
| Investments |
|
|
10,666 |
|
|
|
6,438 |
|
| Deferred income taxes |
|
|
62,473 |
|
|
|
71,376 |
|
| Other assets |
|
|
64,085 |
|
|
|
48,646 |
|
| Total assets |
|
$ |
3,099,609 |
|
|
$ |
2,659,243 |
|
| Liabilities and Stockholders’ Equity |
|
|
|
|
||||
| Current liabilities: |
|
|
|
|
||||
| Accounts payable |
|
$ |
16,395 |
|
|
$ |
16,483 |
|
| Accruals and other current liabilities |
|
|
339,395 |
|
|
|
323,603 |
|
| Deferred revenues |
|
|
201,598 |
|
|
|
224,610 |
|
| Operating lease liabilities |
|
|
16,595 |
|
|
|
17,482 |
|
| Income taxes payable |
|
|
12,431 |
|
|
|
6,696 |
|
| Current portion of long-term debt |
|
|
5,000 |
|
|
|
5,000 |
|
| Total current liabilities |
|
|
591,414 |
|
|
|
593,874 |
|
| Long-term debt |
|
|
1,825,505 |
|
|
|
1,430,992 |
|
| Deferred compensation plan liabilities |
|
|
75,525 |
|
|
|
94,890 |
|
| Long-term operating lease liabilities |
|
|
31,024 |
|
|
|
35,274 |
|
| Deferred revenues |
|
|
13,216 |
|
|
|
7,983 |
|
| Deferred income taxes |
|
|
49,490 |
|
|
|
65,014 |
|
| Income taxes payable |
|
|
7,433 |
|
|
|
7,725 |
|
| Other liabilities |
|
|
9,009 |
|
|
|
14,269 |
|
| Total liabilities |
|
|
2,602,616 |
|
|
|
2,250,021 |
|
| Stockholders’ equity: |
|
|
|
|
||||
| Common stock |
|
|
2,882 |
|
|
|
2,825 |
|
| Additional paid-in capital |
|
|
981,203 |
|
|
|
937,805 |
|
| Accumulated other comprehensive loss |
|
|
(89,131 |
) |
|
|
(91,774 |
) |
| Accumulated deficit |
|
|
(397,961 |
) |
|
|
(439,634 |
) |
| Total stockholders’ equity |
|
|
496,993 |
|
|
|
409,222 |
|
| Total liabilities and stockholders’ equity |
|
$ |
3,099,609 |
|
|
$ |
2,659,243 |
|
BENTLEY SYSTEMS, INCORPORATED AND SUBSIDIARIES
