Ansys Announces Q4 and FY 2023 Financial Results


ANSYS, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Income
(Unaudited)
  Three Months Ended  Twelve Months Ended
(in thousands, except per share data) December 31,
2023
  December 31,
2022
  December 31,
2023
  December 31,
2022
Revenue:       
Software licenses $              502,277   $413,646   $           1,088,748   $988,978 
Maintenance and service                  302,831    280,469                1,181,201    1,076,575 
Total revenue                  805,108    694,115                2,269,949    2,065,553 
Cost of sales:       
Software licenses                     10,909       7,711                         40,004       33,081  
Amortization                     20,586       17,425                         80,990       69,372  
Maintenance and service                     38,554       36,291                       150,304       148,188  
Total cost of sales                     70,049       61,427                       271,298       250,641  
Gross profit                   735,059       632,688                   1,998,651       1,814,912  
Operating expenses:              
Selling, general and administrative                   269,857       257,450                       855,135       772,871  
Research and development                   126,288       111,390                       494,869       433,661  
Amortization                       5,914       3,747                         22,512       15,722  
Total operating expenses                   402,059       372,587                   1,372,516       1,222,254  
Operating income                   333,000       260,101                       626,135       592,658  
Interest income                       7,199       3,576                         19,588       5,717  
Interest expense                   (12,551 )     (9,058 )                     (47,145 )     (22,726 )
Other (expense) income, net                     (2,876 )     1,792                         (6,440 )     (334 )
Income before income tax provision                   324,772       256,411                       592,138       575,315  
Income tax provision (benefit)                     50,010       (1,536 )                       91,726       51,605  
Net income $              274,762     $ 257,947     $              500,412     $ 523,710  
Earnings per share – basic:              
Earnings per share $                     3.16     $ 2.96     $                     5.76     $ 6.02  
Weighted average shares                     86,888       87,017                         86,833       87,051  
Earnings per share – diluted:              
Earnings per share $                     3.14     $ 2.95     $                     5.73     $ 5.99  
Weighted average shares                     87,541       87,473                         87,386       87,490  

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