Bentley Systems CEO Greg Bentley gave Bentley Systems’ second annual Corporate Update in a conference call last week.
“Bentley Systems’ revenue on an historical gap basis grew 10% to a record $523 million,” said Bentley. Asia was a major driver of this growth, increasing to comprise 19% of total revenue from 16% in 2010.
The software subscription business model accounts for 17% of revenues in 2011. The company’s resilient subscription revenues have enabled them to fully recover from the downturn faster than their competitors and software peers with less volatility and with greater visibility into this coming year.
The subscription business model also benefits the user organization that had invested in their future reuse of infrastructure information modeling through Bentley software. The relative lack of volatility in Bentley Systems’ revenues is good for the company’s stability and reliability and that is, along with subscription elimination of cost barriers for technology adoption and improvement, is good for user organizations.