Ansys Announces Financial Results With Record Q4 and FY 2022 ACV, Revenue, Diluted EPS and Operating Cash Flow


(in millions, except percentages) Other Financial Metrics
ACV $ 2,265.0 - $ 2,335.0
ACV Growth Rate11.5 14.9 %
ACV Growth Rate — Constant Currency9.9 13.4 %
Unlevered operating cash flows $ 710.0 - $ 760.0
Operating cash flows$673.0 - $723.0

Our diluted FY 2023 EPS guidance is inclusive of $44.1 million in interest expense ($36.4 million, net of tax). This compares to interest expense in FY 2022 of $22.7 million ($18.6 million, net of tax) with the significant increase in FY 2023 driven by the recent rising interest rate environment and our floating interest rate on our term loans. Because of the unpredictable nature of the interest rate environment, our go-forward guidance for operating cash flow will be on an unlevered basis. We will continue to provide a reconciliation to operating cash flow in our GAAP to Non-GAAP reconciliations. Reconciliations of the GAAP to Non-GAAP diluted EPS outlook and the operating cash flow to unlevered operating cash flow outlook are available in our "Reconciliations of GAAP to Non-GAAP Measures" section found later in this document.

/ Conference Call Information

Ansys will hold a conference call at 8:30 a.m. Eastern Time on February 23, 2023 to discuss fourth quarter and FY 2022 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 access code 3180704. The archived webcast can be accessed, along with other financial information, on Ansys' website at https://investors.ansys.com/events-presentations/events.

/ GAAP Financial Statements

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

(in thousands) December 31, 2022  December 31, 2021
ASSETS:   
Cash & short-term investments $ 614,574 $668,028
Accounts receivable, net  760,287  645,891
Goodwill  3,658,267  3,409,271
Other intangibles, net  809,183  763,119
Other assets  845,634  838,005
Total assets $ 6,687,945   $ 6,324,314
LIABILITIES & STOCKHOLDERS' EQUITY:      
Current deferred revenue $ 413,989   $ 391,528
Long-term debt   753,574     753,576
Other liabilities   654,531     695,162
Stockholders' equity   4,865,851     4,484,048
Total liabilities & stockholders' equity $ 6,687,945   $ 6,324,314

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