Bentley Systems Inc Ordinary Shares - Class B

BSY: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Bentley Earnings: Healthy Quarter as Subscription Revenue Grows and Key Indicators Stabilize

Eric Compton , Dhruv Kothari

Nov 5, 2025

Bentley Systems reported its third quarter with total revenue up 12% year over year, higher than expectations, and results roughly meeting our profitability estimates. Key metrics like annualized recurring revenue, or ARR, and retention rate were broadly stable.

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Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive.

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Bentley Systems Inc Ordinary Shares - Class B

Bentley Earnings: Healthy Quarter as Subscription Revenue Grows and Key Indicators Stabilize

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