Bentley Systems, the infrastructure engineering software company headquartered at 685 Stockton Drive in Exton, reported $410.7 million in second-quarter revenue, a 12.8% jump from a year earlier.

The results, disclosed in an SEC filing dated Aug. 6, show subscription revenue climbing 13.6% to $378.6 million. Annualized recurring revenue hit $1.536 billion, up from $1.379 billion a year ago, with 99% account retention on a constant-currency basis.

"We had another strong quarter, reflecting disciplined execution by our team and continued strength in the end markets we serve," CEO Nicholas Cumins said Aug. 6. "Growth was led once again by the Resources sector, followed by Public Works / Utilities, including from the electric grid."

That grid demand is no accident. Bentley's Power Line Systems division is riding a national need for 35 gigawatts of additional U.S. grid capacity by 2030 to support electrification and AI data centers, according to management's earnings call.

The company also signed on as a new enterprise customer of CoreWeave, an AI cloud computing provider, during the quarter and released six Model Context Protocol servers in 2026 that let customers pair Bentley's engineering tools with AI assistants from Anthropic, Google and OpenAI.

Bentley added more than 600 new customer logos in the second quarter, primarily small and midsize businesses, through its Virtuoso commercial program.

Margins narrow as Bentley invests

The growth came at a cost. Operating margin fell to 21.6% from 23.2% a year earlier. CFO Werner Andre said the company went live with new enterprise-wide finance and quote-to-cash platforms during the quarter, absorbing the costs within its existing margin expectations while laying groundwork for future efficiency.

Diluted earnings per share still rose, to $0.25 from $0.22. Free cash flow climbed to $63.8 million from $57 million, and management reaffirmed full-year free cash flow guidance of $500 million to $570 million.

The company repurchased 3.1 million shares in the second quarter, bringing first-half buybacks to $155 million. Net debt leverage stood at 1.9 times adjusted EBITDA at quarter-end.

Local footprint

Founded in 1984 and publicly traded on the Nasdaq since 2020, Bentley Systems employs roughly 5,840 people worldwide, with about 2,049 in North America, according to workforce analytics firm Revelio Labs. Active job postings rose 5.3% in 2026 to 579 openings. The company does not disclose its Exton headcount separately.

Bentley has been recognized with the YMCA of Greater Brandywine's Community Partner Award for sponsoring wellness programs in West Chester and Chester Springs. Dan O'Brien, the company's director of philanthropy and impact, said in a June Chamber of Commerce for Greater Philadelphia profile that Bentley Systems "strives to be a good neighbor in the communities where our colleagues live and work."

Bentley has not announced a date for its third-quarter earnings report, which would typically come in November.