Ansys Announces Financial Results With Record Q2 Revenue and ACV

(in millions, except percentages) Q2 QTD 2023  Q2 QTD 2022  % Change  % Change in Constant Currency
ACV $ 488.3 $460.3 6% 7%
Operating cash flows $ 62.9 $118.9 (47)%  
Unlevered operating cash flows $ 72.1 $122.0 (41)%  


(in millions, except percentages) Q2 YTD
2023
  Q2 YTD
2022
  % Change  % Change in Constant Currency
ACV $ 887.8 $804.4 10% 12%
Operating cash flows $ 323.6 $329.9 (2)%  
Unlevered operating cash flows $ 341.7 $ 335.0   2 %    

ACV is a key performance metric and is useful to investors in assessing the strength and trajectory of our business. ACV is a supplemental metric to help evaluate the annual performance of the business. Over the life of the contract, ACV equals the total value realized from a customer. ACV is not impacted by the timing of license revenue recognition. ACV is used by management in financial and operational decision-making and in setting sales targets used for compensation. ACV is not a replacement for, and should be viewed independently of, GAAP revenue and deferred revenue as ACV is a performance metric and is not intended to be combined with any of these items. There is no GAAP measure comparable to ACV. ACV is composed of the following:

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