Ansys Posts Q3 2021 Financial Results With Record Q3 ACV, Revenue and Cash Flow

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ANSYS, Inc., reported third-quarter 2021 GAAP and non-GAAP revenue growth of 20% and 21% in reported currency, respectively, or 20% in constant currency when compared to the third quarter of 2020. For the third quarter of 2021, the Company reported diluted earnings per share of $0.97 and $1.59 on a GAAP and non-GAAP basis, respectively, compared to $0.87 and $1.36 on a GAAP and non-GAAP basis, respectively, for the third quarter of 2020.

Key Highlights - Q3 2021 

• GAAP revenue of $441.2 million and non-GAAP revenue of $445.4 million
• GAAP diluted earnings per share of $0.97 and non-GAAP diluted earnings per share of $1.59
• GAAP operating profit margin of 24.4% and non-GAAP operating profit margin of 39.7%
• Operating cash flows of $157.8 million
• Annual contract value (ACV) of $365.4 million
• Deferred revenue and backlog of $899.5 million on September 30, 2021

"Ansys recorded excellent third quarter results, in which we exceeded our financial guidance across all key metrics. Our double-digit growth thus far in 2021 is further evidence of our multiphysics product leadership and strong customer relationships, which are furthering our strategy of making simulation pervasive across the product lifecycle. In October, we added to our market-leading portfolio with the acquisition of Zemax, expanding the scope of Ansys’ solution offering. With the addition of Zemax technologies, the industry-leading Ansys product portfolio will offer customers comprehensive, end-to-end solutions for simulating next-generation optical and photonics products,” said Ajei Gopal, Ansys president and CEO.

Nicole Anasenes, Ansys CFO, stated, “Our strong Q3 performance reflects the strength of our core business and continued momentum across our enterprise and small- and medium-sized customers. During Q3, Ansys recorded ACV growth of 20% and revenue growth of 20% and 21% on a GAAP and non-GAAP basis, respectively. The Q3 results further contributed to the strong year-to-date performance, reflecting ACV growth of 17% and revenue growth of 18% and 19% on a GAAP and non-GAAP basis, respectively."

Anasenes further stated, "Our year-to-date results indicate we are tracking to our business model of double-digit growth with industry-leading margins. Looking towards the end of the year, we continue to see a robust deal pipeline and momentum in the business, bolstering our confidence to raise full-year financial guidance above and beyond the impact of our strong Q3 top-line performance."