Ansys Announces Q3 Financial Results


ANSYS, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Income
(Unaudited)
  Three Months Ended  Nine Months Ended
(in thousands, except per share data) September 30,
2024
  September 30,
2023
  September 30,
2024
  September 30,
2023
Revenue:       
Software licenses $                   276,948   $                  162,422   $                   720,501   $             586,471 
Maintenance and service                      324,944                        296,373                        942,134                    878,370 
Total revenue                      601,892                        458,795                     1,662,635                1,464,841 
Cost of sales:       
Software licenses                        11,067                                8,692                             32,420                         29,095  
Amortization                         21,890                             20,707                             66,759                         60,404  
Maintenance and service                         36,152                             35,858                           107,952                       111,750  
Total cost of sales                         69,109                             65,257                           207,131                       201,249  
Gross profit                       532,783                           393,538                        1,455,504                   1,263,592  
Operating expenses:              
Selling, general and administrative                       233,065                           194,552                           681,331                       585,278  
Research and development                       132,320                           123,223                           393,755                       368,581  
Amortization                            5,860                                5,947                             18,125                         16,598  
Total operating expenses                       371,245                           323,722                        1,093,211                       970,457  
Operating income                       161,538                             69,816                           362,293                       293,135  
Interest income                         13,292                                4,909                             36,495                         12,389  
Interest expense                        (12,318 )                          (12,276 )                          (36,925 )                     (34,594 )
Other (expense) income, net                          (1,257 )                                   96                              (3,118 )                       (3,564 )
Income before income tax provision                       161,255                             62,545                           358,745                       267,366  
Income tax provision                         33,063                                7,043                             65,741                         41,716  
Net income $                   128,192     $                     55,502     $                   293,004     $              225,650  
Earnings per share – basic:              
Earnings per share $                          1.47     $                          0.64     $                          3.36     $                     2.60  
Weighted average shares                         87,399                             86,817                             87,266                         86,814  
Earnings per share – diluted:              
Earnings per share $                          1.46     $                          0.64     $                          3.34     $                     2.58  
Weighted average shares                         87,885                             87,381                             87,814                         87,335  
                               

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