Ansys Announces Q2 Financial Results

/ Q2 2024 Results

  • Revenue of $594.1 million
  • GAAP diluted earnings per share of $1.48 and non-GAAP diluted earnings per share of $2.50
  • GAAP operating profit margin of 26.5% and non-GAAP operating profit margin of 44.9%
  • Operating cash flows of $80.7 million and unlevered operating cash flows of $90.7 million
  • Annual contract value (ACV) of $520.5 million
  • Deferred revenue and backlog of $1,394.0 million on June 30, 2024
   

PITTSBURGH, July 31, 2024 (GLOBE NEWSWIRE) -- ANSYS, Inc. (NASDAQ: ANSS), today reported second quarter 2024 revenue of $594.1 million, an increase of 20% and 22% in reported and constant currency, respectively, when compared to the second quarter of 2023. For the second quarter of 2024, the Company reported diluted earnings per share of $1.48 and $2.50 on a GAAP and non-GAAP basis, respectively, compared to $0.80 and $1.60 on a GAAP and non-GAAP basis, respectively, for the second quarter of 2023. Additionally, the Company reported second quarter ACV growth of 7% in reported currency, or 9% in constant currency, when compared to the second quarter of 2023. We continue to expect double-digit ACV and revenue growth in the second half of the year, and expect FY 2024 ACV to grow double-digit.

On January 15, 2024, the Company entered into a definitive agreement with Synopsys, Inc. (Synopsys) under which Synopsys will acquire Ansys. The transaction is anticipated to close in the first half of 2025, subject to the receipt of required regulatory approvals and other customary closing conditions. During the quarter ended June 30, 2024, the transaction was approved by Ansys shareholders. As previously announced, in light of the pending transaction with Synopsys, Ansys has suspended quarterly earnings conference calls and no longer provides quarterly or annual guidance.

   

The non-GAAP financial results highlighted represent non-GAAP financial measures. Reconciliations of these measures to the comparable GAAP measures for the three and six months ended June 30, 2024 and 2023 can be found later in this release.

   

/ Summary of Financial Results

Ansys’ second quarter and year-to-date (YTD) 2024 and 2023 financial results are presented below. The 2024 and 2023 non-GAAP results exclude the income statement effects of stock-based compensation, excess payroll taxes related to stock-based compensation, amortization of acquired intangible assets, expenses related to business combinations and adjustments for the income tax effect of the excluded items.

Our results are as follows:

  GAAP
(in thousands, except per share data and percentages) Q2 QTD
2024
  Q2 QTD
2023
  % Change  Q2 YTD
2024
  Q2 YTD
2023
  % Change
Revenue $ 594,138  $496,599  19.6%  $ 1,060,743  $1,006,046  5.4%
Net income $ 130,034  $69,526     87.0 %   $ 164,812     $ 170,148     (3.1 )%
Diluted earnings per share $ 1.48     $ 0.80     85.0 %   $ 1.88     $ 1.95     (3.6 )%
Gross margin   88.3 %     86.2 %         87.0 %     86.5 %    
Operating profit margin   26.5 %     19.3 %         18.9 %     22.2 %    
Effective tax rate   16.9 %     17.2 %         16.5 %     16.9 %    

1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21  Next Page »
Featured Video
Editorial
Jobs
Mechanical Manufacturing Engineering Manager for Google at Sunnyvale, California
Manufacturing Test Engineer for Google at Prague, Czechia, Czech Republic
Equipment Engineer, Raxium for Google at Fremont, California
Senior Principal Mechanical Engineer for General Dynamics Mission Systems at Canonsburg, Pennsylvania
Mechanical Test Engineer, Platforms Infrastructure for Google at Mountain View, California
Principal Engineer for Autodesk at San Francisco, California
Upcoming Events
Celebrate Manufacturing Excellence at Anaheim Convention Center Anaheim CA - Feb 4 - 6, 2025
3DEXPERIENCE World 2025 at George R. Brown Convention Center Houston TX - Feb 23 - 26, 2025
TIMTOS 2025 at Nangang Exhibition Center Hall 1 & 2 (TaiNEX 1 & 2) TWTC Hall Taipei Taiwan - Mar 3 - 8, 2025
Additive Manufacturing Forum 2025 at Estrel Convention Cente Berlin Germany - Mar 17 - 18, 2025



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation GISCafe - Geographical Information Services TechJobsCafe - Technical Jobs and Resumes ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise