Bentley Systems Inc. (BSY) is a world-leading provider of software services and solutions designed to help engineers, constructors, and owners in the architectural, engineering, and construction (AEC) industry advance the design, construction, and operation of infrastructure. The company was founded in 1984 by five brothers: Barry, Keith, Greg, Bryan, and Ray Bentley.
Headquartered in Exton, Pennsylvania, Bentley Systems provides a comprehensive portfolio of software solutions to improve the performance of infrastructure projects and assets from conception to completion. These solutions enable the creation, management, and sharing of digital and physical information, thus promoting more efficient and more collaborative ways of working.
The company's products are used in the building, plant, civil, and geospatial markets in every area of infrastructure project delivery and assets lifecycle, from the preliminary design to the operation. Bentley's offerings include MicroStation software for infrastructure design and modeling, ProjectWise for project delivery, AssetWise for asset and network performance, and the iTwin platform for infrastructure digital twins.
Bentley's software has been instrumental in many significant infrastructure projects across the globe. For instance, over 90% of the ENR top 500 design firms are Bentley customers, and they have employed Bentley software on more than two-thirds of the ENR top 100 infrastructure projects.
Bentley Systems' business model is built around creating and nurturing long-term relationships with its user organizations. These relations are critical in understanding their needs and alleviating their operational challenges through innovative software solutions. This long-lasting partnership approach has helped Bentley grow and evolve over four decades, servicing more than a million users in approximately 120 countries.
Being a global and diverse company, Bentley is committed to social responsibility. The company supports various non-profit organizations and sponsored programs, focusing on fostering education and professional development in engineering and architecture. They are also devoted to fostering a positive work environment for their employees, stressing inclusivity, and fostering professional growth.
Throughout its history, Bentley Systems has remained at the forefront of innovation in infrastructure engineering software, continually evolving to meet the changing needs of its users. As the world continues to urbanize, Bentley's comprehensive software services are more critical than ever, enabling the design and maintenance of the critical infrastructure that underpins our communities.
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Bentley Systems reported strong third-quarter results with accelerated year-over-year annual recurring revenue growth of 13% and a net retention rate up to 110%. This broad-based strength across resources, public works, and utilities led to a 3% increase in shares on November 5. The positive growth momentum is enabling margin leverage for the company.
Bentley Systems is expanding its market beyond public works and utilities, notably into the attractive resources sector through acquisitions like Seequent and Eliis. The company's industry-leading geotechnical tools are in demand from mining and energy companies, projecting resource customers to contribute a third of total revenue in the coming years. This growth momentum is enabling Bentley Systems to generate significant margin leverage.
Raymond B. Bentley, a director and 10% shareholder of Bentley Systems, Incorporated (NASDAQ:BSY), sold a total of 155,797 Class B Common Stock shares in two open-market transactions on October 23 and October 26, 2026. These sales were executed under a Rule 10b5-1 trading plan adopted on March 12, 2026. Following these transactions, Bentley directly holds 14,660,607 Class B shares, with additional indirect holdings through his spouse and a 401(K) Plan.