Ansys Announces Financial Results With Record Q2 ACV and Revenue

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 - Q2 2022

  • GAAP revenue of $473.9 million and non-GAAP revenue of $475.9 million
  • GAAP diluted earnings per share of $1.13 and non-GAAP diluted earnings per share of $1.77
  • GAAP operating profit margin of 27.0% and non-GAAP operating profit margin of 40.7%
  • Operating cash flows of $118.9 million
  • Annual contract value (ACV) of $460.3 million
  • Deferred revenue and backlog of $1,179.2 million on June 30, 2022

PITTSBURGH, Aug. 03, 2022 (GLOBE NEWSWIRE) -- ANSYS, Inc. (NASDAQ: ANSS), today reported second quarter 2022 GAAP and non-GAAP revenue growth of 6% and 5% in reported currency, respectively, or 13% and 12% in constant currency, respectively, when compared to the second quarter of 2021. For the second quarter of 2022, the Company reported diluted earnings per share of $1.13 and $1.77 on a GAAP and non-GAAP basis, respectively, compared to $1.06 and $1.85 on a GAAP and non-GAAP basis, respectively, for the second quarter of 2021. Additionally, the Company reported second quarter 2022 ACV growth of 7% in reported currency, or 13% in constant currency, when compared to the second quarter of 2021.

“Ansys delivered another excellent quarter, once again exceeding our financial guidance across all key metrics. We delivered double-digit ACV and revenue growth in constant currency in both the second quarter and for the first half of 2022. Our strong performance year-to-date was broad-based across geographies and industries, highlighting how our diversified multiphysics product portfolio is crucial to customers’ key research and development initiatives. I am excited about the future and look forward to discussing our continued momentum, long-term strategy and outlook at our investor update next week,” said Ajei Gopal, Ansys president and CEO.

Nicole Anasenes, Ansys CFO, stated, “Our outstanding performance was highlighted by 13% ACV growth in constant currency for the second quarter. This consistent and robust performance of double-digit topline growth is a testament to the strength and resilience of our core business and the value we deliver to our customers. Looking toward the second half of 2022, we are raising our full-year guidance on ACV and revenue in constant currency. Given the continued strong demand for simulation, coupled with the momentum across our business, I am more confident than ever in our future.”

/ Financial Results

Ansys' second quarter and year-to-date (YTD) 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, expenses related to business combinations and adjustments for the income tax effect of the excluded items.

GAAP and non-GAAP results are as follows:

  GAAP  Non-GAAP
(in millions, except per share data and percentages) Q2 QTD 2022  Q2 QTD 2021  % Change  Q2 QTD 2022  Q2 QTD 2021  % Change
Revenue $ 473.9  $446.7  6%  $ 475.9  $452.6  5%
Net income $ 98.8  $93.7     5 %   $ 154.6     $ 162.6     (5 )%
Diluted earnings per share $ 1.13     $ 1.06     7 %   $ 1.77     $ 1.85     (4 )%
Operating profit margin   27.0 %     26.1 %         40.7 %     41.7 %    

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