Ansys Announces Q1 Financial Results


ANSYS, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Income
(Unaudited)


   Three Months Ended
(in thousands, except per share data)  March 31,
2024
  March 31,
2023
Revenue:    
Software licenses  $ 160,321  $219,152 
Maintenance and service   306,284   290,295 
Total revenue   466,605   509,447 
Cost of sales:    
Software licenses   10,044   11,744 
Amortization   22,484   19,618 
Maintenance and service   36,139   36,290 
Total cost of sales   68,667       67,652  
Gross profit     397,938       441,795  
Operating expenses:        
Selling, general and administrative     219,643       188,584  
Research and development     128,811       120,335  
Amortization     6,145       5,181  
Total operating expenses     354,599       314,100  
Operating income     43,339       127,695  
Interest income     10,995       4,078  
Interest expense     (12,369 )     (10,758 )
Other expense, net     (1,007 )     (177 )
Income before income tax provision     40,958       120,838  
Income tax provision     6,180       20,216  
Net income   $ 34,778     $ 100,622  
Earnings per share – basic:        
Earnings per share   $ 0.40     $ 1.16  
Weighted average shares     87,067       86,930  
Earnings per share – diluted:        
Earnings per share   $ 0.40     $ 1.15  
Weighted average shares     87,780       87,431  

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