Ansys Announces Financial Results With Record Q3 ACV and Revenue

(in millions, except percentages) Other Financial Metrics
ACV$1,975.0 - $2,000.0
ACV Growth Rate5.66.9%
ACV Growth Rate — Constant Currency12.013.4%
Operating cash flows$570.0 - $600.0

Despite an ongoing volatile macroeconomic environment, the updated FY 2022 guidance reflects an operational raise on ACV, revenue, diluted EPS and operating cash flows driven by the underlying strength of our business model and market position. Offsetting this outlook, persistent and meaningful U.S. Dollar strengthening in exchange rates continues to drive unprecedented headwinds. As a result, the guidance assumes additional incremental adverse impacts from currency, primarily driven by substantial weakening in the Euro and Japanese Yen.

The impact of currency on our results continues to be significant and driven by the macroeconomic environment. The underlying foundation of our business remains strong, and we continue to see momentum. The chart below captures the drivers of the update to our last guidance provided in early August:

(in millions, except per share data) Mid-point of
Guidance in
August
  Incremental
Operational
Performance
  November mid-
point of
Guidance at
August
Exchange Rates
  Currency
Fluctuations
from August to
November
Guidance
  November mid-
point of
Guidance at
Current
Exchange Rates
ACV $ 2,000 $8  $ 2,008 ($20)  $ 1,988
Revenue $ 2,030 $12  $ 2,042 ($24)  $ 2,018
Diluted earnings per share $ 7.69 $0.12  $ 7.81 ($0.17)  $ 7.64
Operating cash flows $ 590 $2  $ 592   ($7)   $ 585

Additionally, when compared to the 2021 currency rates, our full-year 2022 guidance is negatively impacted on ACV by approximately $120 million and on operating cash flow by approximately $40 million.

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