Filing Flows › Bentley Systems (BSY) › Q2 2026 › vs Q2 2025
Bentley Systems (BSY) Q2 2026 vs Q2 2025 (year over year)
Bentley Systems's revenue rose $46.6M (+13%) from $364M in Q2 2025 to $411M in Q2 2026. The biggest changes: Subscriptions and licenses +$44.7M (+13%); Services +$1.9M (+9%). Gross margin 82.0% against 81.1% (+0.9 pts).
Bentley Systems, Q2 2026: revenue $411M (+13% year over year), operating margin 21.6%, net earnings $78.5M, operating cash flow $71.5M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 82.0% | 81.1% | +0.9 pts |
| Operating margin | 21.6% | 23.2% | -1.6 pts |
| Net margin | 19.1% | 19.4% | -0.2 pts |
| Free cash flow margin | 15.5% | 15.7% | -0.1 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Enterprise subscriptions | $169M | $152M | $17.5M | +12% |
| Term license subscriptions | $143M | $115M | $28.6M | +25% |
| SELECT subscriptions | $66.3M | $67.3M | −$1.0M | -1% |
| Other | $18.5M | $16.0M | $2.5M | +16% |
| Perpetual licenses | $9.7M | $10.2M | −$486K | -5% |
| Recurring | $3.9M | $4.5M | −$614K | -14% |
| Subscriptions and licenses | $388M | $344M | $44.7M | +13% |
| Services | $22.4M | $20.5M | $1.9M | +9% |
| Revenue | $411M | $364M | $46.6M | +13% |
| Gross profit | $337M | $295M | $41.4M | +14% |
| Cost of revenue | $74.0M | $68.8M | $5.2M | +8% |
| Other income, net | $6.5M | −$5.1M | $11.6M | — |
| Operating profit | $88.6M | $84.4M | $4.2M | +5% |
| Operating expenses | $248M | $211M | $37.2M | +18% |
| Pre-tax earnings | $95.1M | $79.3M | $15.8M | +20% |
| Research & development | $82.1M | $75.4M | $6.7M | +9% |
| Sales & marketing | $80.9M | $69.9M | $11.0M | +16% |
| General & admin | $65.2M | $49.9M | $15.4M | +31% |
| Other operating costs | $20.0M | $15.8M | $4.2M | +26% |
| Net earnings | $78.5M | $70.5M | $8.0M | +11% |
| Income tax | $16.6M | $8.9M | $7.7M | +87% |
| Depreciation & amortization | $16.1M | $15.7M | $301K | +2% |
| Share-based compensation | $22.7M | $19.6M | $3.2M | +16% |
| Working capital & other | $45.8M | $44.8M | $1.0M | +2% |
| Operating cash flow | $71.5M | $61.1M | $10.4M | +17% |
| Free cash flow (company-reported) | $63.8M | $57.0M | $6.8M | +12% |
| Purchases of property and equipment and investment in capitalized software | $7.7M | $4.1M | $3.6M | +89% |
Questions
How much did Bentley Systems's revenue grow year over year in Q2 2026?
Bentley Systems's revenue rose $46.6M (+13%) from $364M in Q2 2025 to $411M in Q2 2026.
What drove Bentley Systems's revenue change in Q2 2026?
Subscriptions and licenses +$44.7M (+13%); Services +$1.9M (+9%).