Ansys Announces Q1 Financial Results

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ANSYS, Inc. reported first quarter 2024 revenue of $466.6 million, a decrease of 8% in reported and constant currency, when compared to the first quarter of 2023. For the first quarter of 2024, the Company reported diluted earnings per share of $0.40 and $1.39 on a GAAP and non-GAAP basis, respectively, compared to $1.15 and $1.85 on a GAAP and non-GAAP basis, respectively, for the first quarter of 2023. Additionally, the Company reported first quarter ACV growth of 2% in reported currency or 3% in constant currency, when compared to the first quarter of 2023.

For 2024, quarterly ACV and revenue growth rates will be variable across the quarters and are affected by the performance comparisons to 2023. As discussed in the Q4 2023 press release, we expected that Q1 2024 ACV and revenue results would be the lowest amongst the 2024 quarters. Our actual results for the first quarter met our expectations. We continue to expect double-digit ACV and revenue growth in the remaining quarters of the year, and expect FY 2024 ACV to grow double-digit.

On January 15, 2024, the Company entered into a definitive agreement with Synopsys, Inc. (Synopsys) under which Synopsys will acquire Ansys. The transaction is anticipated to close in the first half of 2025, subject to approval by Ansys shareholders, the receipt of required regulatory approvals and other customary closing conditions. As previously announced, in light of the pending transaction with Synopsys, Ansys has suspended quarterly earnings conference calls and no longer provides quarterly or annual guidance.