Bentley Systems, Incorporated (BSY) Income Statement
BSY 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsBSY revenue and net income
Where BSY's revenue goes
2025Each bar shows an amount and its share of revenue. BSY kept 18.5% of revenue as net income.
BSY profit margins
BSY growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +11.0% | +11.0% | +13.4% | — |
| Gross profit | +11.8% | +12.4% | +14.1% | — |
| Operating income | +20.0% | +20.2% | +19.3% | — |
| Net income | +18.3% | +16.7% | +17.0% | — |
| EPS (diluted) | +3.7% | +9.7% | +18.3% | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
BSY quarterly EPS vs estimates
Bentley Systems beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: November 5, 2026 (estimate $0.29).
BSY income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.50B | $1.35B | $1.23B | $1.10B | $965.0M | $801.5M | $736.7M | $691.7M |
| Cost of revenue | $277.5M | $257.8M | $318.2M | $237.0M | $216.5M | $167.2M | $144.2M | $131.3M |
| Gross profit | $1.22B | $1.10B | $910.2M | $862.1M | $748.5M | $634.4M | $592.5M | $560.4M |
| Research & development | $307.6M | $281.2M | $274.6M | $257.9M | $220.9M | $185.5M | $183.6M | $175.0M |
| Sales, general & admin | $506.9M | $477.9M | $418.7M | $354.5M | $407.4M | $257.2M | $252.9M | $250.0M |
| Total operating expenses | $861.6M | $793.2M | $679.7M | $653.5M | $653.9M | $484.2M | $450.6M | $439.0M |
| Operating income | $362.6M | $302.1M | $230.5M | $208.6M | $94.6M | $150.2M | $141.9M | $121.4M |
| Interest income | $2.9M | $2.7M | $2.3M | $421,000 | $306,000 | $437,000 | $1.5M | $842,000 |
| Interest expense | $15.3M | $24.8M | $41.3M | $35.1M | $11.5M | $7.9M | $9.7M | $9.6M |
| Income before taxes | $350.7M | $293.2M | $183.5M | $196.1M | $93.3M | $165.1M | $126.8M | $112.9M |
| Income taxes | $73.0M | $58.7M | −$143.2M | $21.3M | −$3.4M | $38.6M | $23.7M | −$29.2M |
| Net income | $277.9M | $234.8M | $326.8M | $174.8M | $93.2M | $126.5M | $103.1M | $142.1M |
| EBITDA | $429.0M | $382.4M | $296.7M | $304.9M | $152.3M | $211.0M | $170.0M | $148.6M |
| EPS (diluted) | $1.11 | $1.07 | $0.91 | $0.84 | $0.83 | $0.48 | $0.39 | $0.48 |
| Gross margin | 81.5% | 80.9% | 74.1% | 78.4% | 77.6% | 79.1% | 80.4% | 81.0% |
| Operating margin | 24.1% | 22.3% | 18.8% | 19.0% | 9.8% | 18.7% | 19.3% | 17.5% |
| Net margin | 18.5% | 17.4% | 26.6% | 15.9% | 9.7% | 15.8% | 14.0% | 20.5% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $410.7M | $424.2M | $391.6M | $375.5M | $364.1M | $370.5M | $349.8M | $335.2M | $330.3M | $337.8M | $310.6M | $306.6M |
| Cost of revenue | $74.0M | $73.8M | $70.9M | $72.2M | $68.8M | $65.7M | $67.9M | $64.8M | $63.2M | $61.8M | $67.8M | $64.7M |
| Gross profit | $336.7M | $350.4M | $320.7M | $303.4M | $295.3M | $304.9M | $281.9M | $270.3M | $267.1M | $275.9M | $242.8M | $241.9M |
| Research & development | $82.1M | $83.0M | $81.0M | $78.8M | $75.4M | $72.5M | $77.1M | $70.1M | $65.7M | $68.4M | $71.2M | $65.5M |
| Sales, general & admin | $146.1M | $132.7M | $138.6M | $132.0M | $127.3M | $109.0M | $135.1M | $123.3M | $112.9M | $106.7M | $124.9M | $93.3M |
| Total operating expenses | $248.1M | $224.1M | $242.2M | $218.9M | $210.9M | $189.7M | $220.5M | $201.7M | $187.0M | $184.0M | $205.1M | $168.3M |
| Operating income | $88.6M | $126.3M | $78.5M | $84.5M | $84.4M | $115.2M | $61.4M | $68.6M | $80.2M | $91.9M | $37.8M | $73.7M |
| Interest income | $457,000 | $489,000 | $1.1M | $845,000 | $337,000 | $600,000 | $610,000 | $436,000 | $901,000 | $783,000 | $660,000 | $501,000 |
| Interest expense | $9.1M | $7.6M | $21.4M | $1.7M | $3.9M | $4.4M | $6.4M | $5.1M | $6.0M | $7.3M | $9.5M | $10.5M |
| Income before taxes | $95.1M | $118.5M | $76.0M | $83.5M | $79.4M | $111.8M | $64.4M | $58.9M | $77.4M | $92.5M | $14.2M | $69.6M |
| Income taxes | $16.6M | $23.2M | $17.4M | $26.3M | $8.9M | $20.5M | $14.6M | $16.5M | $5.3M | $22.2M | −$165.3M | $16.5M |
| Net income | $78.6M | $95.4M | $58.6M | $57.4M | $70.5M | $91.4M | $50.1M | $42.3M | $72.0M | $70.3M | $179.6M | $53.0M |
| EBITDA | $120.2M | $142.3M | $113.2M | $104.0M | $97.0M | $131.9M | $92.4M | $78.2M | $97.4M | $116.2M | $47.2M | $95.8M |
| EPS (diluted) | $0.28 | $0.38 | $0.22 | $0.22 | $0.32 | $0.35 | $0.21 | $0.24 | $0.31 | $0.31 | $0.20 | $0.22 |
| Gross margin | 82.0% | 82.6% | 81.9% | 80.8% | 81.1% | 82.3% | 80.6% | 80.7% | 80.9% | 81.7% | 78.2% | 78.9% |
| Operating margin | 21.6% | 29.8% | 20.0% | 22.5% | 23.2% | 31.1% | 17.6% | 20.5% | 24.3% | 27.2% | 12.2% | 24.0% |
| Net margin | 19.1% | 22.5% | 15.0% | 15.3% | 19.4% | 24.7% | 14.3% | 12.6% | 21.8% | 20.8% | 57.8% | 17.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in BSY's financial statements (latest annual report filed February 26, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
BSY financial results
In fiscal year 2025 (ended December 31, 2025), Bentley Systems reported revenue of $1.5 billion, up 11.0% from the year before. It had net income of $277.9 million (up 18.3%), a net profit margin of 18.5%. Diluted earnings per share came to $1.11. Over five years revenue grew at an average rate of 13.4% a year.
See the BSY stock overview for the latest quote and news, or the BSY chart for price history and technical indicators.
BSY income statement FAQ
What is Bentley Systems's annual revenue?
Bentley Systems reported total revenue of $1.5 billion for fiscal year 2025, which ended on December 31, 2025. That was up 11.0% from $1.4 billion the previous year.
Is Bentley Systems profitable?
Yes. Bentley Systems reported net income of $277.9 million in fiscal 2025, a net profit margin of 18.5%; its operating margin was 24.1%.
What is Bentley Systems's gross margin?
Bentley Systems's gross margin was 81.5% in fiscal 2025: for every $100 of revenue, Bentley Systems kept $82 after the direct cost of its products and services.
How much does Bentley Systems spend on research and development?
Bentley Systems spent $307.6 million on research and development in fiscal 2025, 20.5% of revenue.
How fast is Bentley Systems growing?
Revenue grew 13.4% a year on average over the last five fiscal years, from $801.5 million to $1.5 billion.
What are Bentley Systems's earnings per share?
Bentley Systems earned $1.11 per diluted share in fiscal 2025, compared with $1.07 a year earlier.
When will Bentley Systems report its next earnings?
Bentley Systems is expected to report results for the quarter ending September 30, 2026 on November 5, 2026 before the market opens.
When does Bentley Systems's fiscal year end?
Bentley Systems's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 26, 2026.