Filing Flows › Bentley Systems (BSY) › Q2 2026
Bentley Systems (BSY) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 6, 2026
Bentley Systems (BSY) reported revenue of $411M for the second quarter 2026 (Q2 2026), +13% from a year earlier and -3% from the quarter before. Operating margin was 21.6%, net earnings $78.5M (19.1% of revenue).
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 follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $411M | -3% | +13% |
| Gross profit | $337M | -4% | +14% |
| Operating profit | $88.6M | -30% | +5% |
| Net earnings | $78.5M | -18% | +11% |
| Operating cash flow | $71.5M | -63% | +17% |
| Free cash flow | $63.8M | — | +12% |
What changed
Revenue was $410.7M in Q2 2026, up 13% year over year and down 3% from the previous quarter. Enterprise subscriptions was the largest line at 41% of revenue. Term license subscriptions added $28.6M year over year (up 25%), 61% of the total change. Recurring declined 14%.
Gross margin was 82.0%, up 0.9 points from Q2 2025. Operating profit was $88.6M, a 21.6% margin (down 1.6 points year over year). Of the extra revenue versus Q2 2025, 9% reached operating profit, below the 23% margin then. Operating expenses grew 18% against revenue growth of 13%. The fastest-growing cost line was General & admin (+31%). Net earnings were $78.6M, up 11% year over year. The effective tax rate was 17.5%.
Operating cash flow was $71.5M (up 17% year over year), 91% of net earnings. Non-cash charges added back $16.1M of depreciation and amortization and $22.7M of share-based compensation. Working capital and other items used $45.8M. After purchases of property and equipment and investment in capitalized software ($7.7M), free cash flow as the company reports it was $63.8M.
Questions
What was Bentley Systems' revenue in the second quarter 2026?
Bentley Systems (BSY) reported revenue of $411M for the second quarter 2026 (Q2 2026), +13% from a year earlier and -3% from the quarter before.
Was Bentley Systems profitable in the second quarter 2026?
Operating profit was $88.6M (21.6% of revenue) and net earnings $78.5M.
Source: Bentley Systems 10-Q on SEC EDGAR.