Ansys Announces Q1 Financial Results


/ Currency

The first quarter of 2024 revenue, operating income, ACV and deferred revenue and backlog, as compared to the first quarter of 2023, were impacted by fluctuations in the exchange rates of foreign currencies against the U.S. Dollar. The currency fluctuation impacts on revenue, GAAP and non-GAAP operating income, ACV, and deferred revenue and backlog based on 2023 exchange rates are reflected in the tables below. Amounts in brackets indicate an adverse impact from currency fluctuations.

(in thousands) Q1 2024
Revenue $         (3,903 )
GAAP operating income $         (3,398 )
Non-GAAP operating income $         (3,178 )
ACV $         (3,028 )
Deferred revenue and backlog $         (19,615 )

The most meaningful currency impacts are typically attributable to U.S. Dollar exchange rate changes against the Euro and Japanese Yen. Historical exchange rates are reflected in the charts below.

  Period-End Exchange Rates
As of EUR/USD  USD/JPY
March 31, 2024 1.08  151
December 31, 20231.10 141
March 31, 20231.08 133


  Average Exchange Rates
Three Months Ended EUR/USD  USD/JPY
March 31, 2024 1.09  148
March 31, 20231.07 132


/ GAAP Financial Statements

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


(in thousands) March 31, 2024   December 31, 2023
ASSETS:      
Cash & short-term investments $ 1,070,609   $ 860,390
Accounts receivable, net   650,044     864,526
Goodwill   3,797,859     3,805,874
Other intangibles, net   806,375     835,417
Other assets   825,527     956,668
Total assets $ 7,150,414   $ 7,322,875
LIABILITIES & STOCKHOLDERS’ EQUITY:      
Current deferred revenue $ 433,167   $ 457,514
Long-term debt   753,970     753,891
Other liabilities   553,634     721,106
Stockholders’ equity   5,409,643     5,390,364
Total liabilities & stockholders’ equity $ 7,150,414   $ 7,322,875

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