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 Systems Earnings: AI Data Center Buildout Should Drive Incremental Top-Line Growth

Luke Yang

May 7, 2026

Bentley Systems' first-quarter results were strong, with total revenue and annual recurring revenue both growing 12% year over year in constant currency. Net retention rate was resilient at 109%. GAAP operating margin contracted 130 basis points to 29.8%, compared with a year ago.

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Bentley Systems Inc Ordinary Shares - Class B

Bentley Systems Earnings: AI Data Center Buildout Should Drive Incremental Top-Line Growth

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