Bentley Systems Q4 Revenue Rises 11.9% to $391.6M; 2026 Guidance of $1.685B–$1.715B
Bentley Systems reported Q4 2025 revenue of $391.6 million, up 11.9% year-over-year, and non-GAAP EPS of $0.27, meeting analyst estimates. The company guided 2026 revenue to $1.685 billion–$1.715 billion, topping consensus, and free cash flow margin improved by 13 percentage points year-over-year.
1. Q4 2025 Financial Results
Bentley Systems delivered Q4 2025 revenue of $391.6 million, representing an 11.9% increase versus the prior year. Non-GAAP profit per share came in at $0.27, aligning with consensus estimates and reflecting stable operating performance.
2. Full-Year 2026 Outlook
The company initiated 2026 revenue guidance between $1.685 billion and $1.715 billion, with the midpoint notably above street expectations. This outlook underscores management’s confidence in sustained demand for its infrastructure engineering software.
3. Free Cash Flow Margin Expansion
Free cash flow margin for the fourth quarter rose by 13 percentage points year-over-year, signaling improved operational efficiency and stronger cash conversion. This boost suggests enhanced capacity for reinvestment and potential shareholder returns.
4. Market Reaction and Volatility
Shares jumped 12.8% in early trading, marking one of only six moves exceeding 5% over the past year. The outsized gain reflects investor enthusiasm for the better-than-expected results and robust 2026 outlook.