Increases FY 2022 Outlook on ACV and Revenue in Constant Currency

Details related to our financial guidance, including assumptions, are included in our prepared remarks document.

/ Key Highlights - Q1 2022

• GAAP revenue of $425.1 million and non-GAAP revenue of $428.6 million
• GAAP diluted earnings per share of $0.81 and non-GAAP diluted earnings per share of $1.36
• GAAP operating profit margin of 19.1% and non-GAAP operating profit margin of 34.7%
• Operating cash flows of $210.9 million
• Annual contract value (ACV) of $344.1 million
• Deferred revenue and backlog of $1,203.2 million on March 31, 2022

PITTSBURGH, May 04, 2022 (GLOBE NEWSWIRE) -- ANSYS, Inc. (NASDAQ: ANSS), today reported first quarter 2022 GAAP and non-GAAP revenue growth of 17% and 15% in reported currency, respectively, or 20% and 18% in constant currency, respectively, when compared to the first quarter of 2021. For the first quarter of 2022, the Company reported diluted earnings per share of $0.81 and $1.36 on a GAAP and non-GAAP basis, respectively, compared to $0.82 and $1.12 on a GAAP and non-GAAP basis, respectively, for the first quarter of 2021. Additionally, the Company reported first quarter 2022 ACV growth of 8% in reported currency, or 11% in constant currency, when compared to the first quarter of 2021.

“We are off to a strong start in 2022. We delivered double-digit ACV and revenue growth in constant currency for the first quarter and exceeded our financial guidance across all key metrics. Our robust results in the first quarter are a testament to the essential role we play in advancing our customers’ digital transformation initiatives as well as our strong customer relationships and leading multiphysics product portfolio. Our customers continue to rely on Ansys simulation to drive innovation across their next-generation products. Looking to the remainder of 2022 and beyond, I am confident in our ability to execute against our model,” said Ajei Gopal, Ansys president and CEO.

Nicole Anasenes, Ansys CFO, stated, “We continue to demonstrate that our business model and market position remain robust. Our first quarter results represent a strong start to the year, continuing the momentum off of the outstanding performance in 2021. During Q1, Ansys recorded ACV growth of 11% in constant currency and GAAP and non-GAAP revenue growth of 20% and 18% in constant currency, respectively. Given the strength of our forecast and current customer demand, we are raising our full-year ACV and revenue in constant currency.”

/ Financial Results

Ansys' first quarter 2022 and 2021 financial results are presented below. The 2022 and 2021 non-GAAP results exclude the income statement effects of the acquisition accounting adjustments to deferred revenue from business combinations closed prior to 2022, stock-based compensation, excess payroll taxes related to stock-based compensation, amortization of acquired intangible assets, transaction expenses related to business combinations and adjustments for the income tax effect of the excluded items.

GAAP and non-GAAP results are as follows:

The non-GAAP financial results highlighted above, and the non-GAAP financial outlook for 2022 discussed below, represent non-GAAP financial measures. Reconciliations of these measures to the appropriate GAAP measures, for the three months ended March 31, 2022 and 2021, and for the 2022 financial outlook, can be found later in this release.