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:
|(in millions, except per share data and percentages)||Q2 QTD 2022||Q2 QTD 2021||% Change||Q2 QTD 2022||Q2 QTD 2021||% Change|
|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||%|