Key Highlights

● Second-quarter 2026 Revenue was $410.7 million, up 12.8%.

● Annualised recurring revenues reached $1,536.0 million, with constant-currency growth of 12%.

● Net retention rate held at 109%, consistent with the prior year.

● Primary profit Margin was 28.3%, against 29.3% a year earlier.

Latest verified developments

Bentley Systems, Incorporated (NASDAQ:BSY), a provider of software for infrastructure engineering, announced on about 7 October 2026 that it will release third-quarter results on 5 November. The same week it announced the winners of its 2026 Year in Infrastructure Awards. On 11 September it declared its third-quarter dividend, and on 4 September it opened a Philadelphia tech hub and experience centre.

None of these items carried new financial figures, so the second-quarter results, published on 6 August, remain the company's most recent reported numbers. The Dividend declaration indicates the company continues to return cash to shareholders.

Second-quarter results

For the quarter ended 30 June 2026, total revenues were $410.7 million, up 12.8% (12.2% in constant currency). Subscriptions revenues were $378.6 million, up 13.6%. Annualised recurring revenues (ARR) reached $1,536.0 million, compared with $1,379.2 million a year earlier, with constant-currency ARR growth of 12%. Reported ARR growth was about 11.4%, the gap from 12% reflecting currency.

The net retention rate, measured on a dollar basis over the last twelve months, was 109%, consistent with the prior year. Subscriptions were about 92% of total revenues, leaving non-subscription revenues of about $32.1 million. A net retention rate of 109% means that existing subscribers, taken together, spent about 9% more over the period than the year before, after churn.

Profitability and cash

GAAP Operating Income was $88.6 million, a 21.6% margin, compared with 23.2% a year earlier. Adjusted operating income was $137.8 million, about 33.6% of revenue. Operating stock-based compensation is deducted when Bentley measures its primary profit margin, a stricter yardstick than adjusted operating income alone. On the company's primary measure, adjusted operating income less operating stock-based compensation, the margin was 28.3%, against 29.3% a year earlier, so margins slipped slightly even as revenue grew.

GAAP diluted EPS was $0.25, up from $0.22, and adjusted EPS was $0.35, up from $0.32, increases of about 13.6% and 9.4% respectively. Free Cash Flow was $63.8 million, up from $57.0 million, equal to about 15.5% of revenue. The release carried no numeric guidance; the chief financial officer said only that results were positioning the company "favorably within our full-year financial outlook".

Retention and margin into November

The third-quarter report on 5 November, covering July to September, is the next occasion for the company to update ARR growth, which was 12% in constant currency in the second quarter, and net retention, which stood at 109%.

The company's emphasis on infrastructure engineering and its Recurring Revenue base underpin that profile, with subscriptions at about 92% of revenue. The primary profit margin is the figure set against it, having eased by one percentage point to 28.3% while revenue grew 12.8%.