Ansys Announces Q2 Financial Results

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ANSYS, Inc. reported second quarter 2024 revenue of $594.1 million, an increase of 20% and 22% in reported and constant currency, respectively, when compared to the second quarter of 2023. For the second quarter of 2024, the Company reported diluted earnings per share of $1.48 and $2.50 on a GAAP and non-GAAP basis, respectively, compared to $0.80 and $1.60 on a GAAP and non-GAAP basis, respectively, for the second quarter of 2023. Additionally, the Company reported second quarter ACV growth of 7% in reported currency, or 9% in constant currency, when compared to the second quarter of 2023. We continue to expect double-digit ACV and revenue growth in the second half of the year, and expect FY 2024 ACV to grow double-digit.

Q2 2024 Results:

• Revenue of $594.1 million
• GAAP diluted earnings per share of $1.48 and non-GAAP diluted earnings per share of $2.50
• GAAP operating profit margin of 26.5% and non-GAAP operating profit margin of 44.9%
• Operating cash flows of $80.7 million and unlevered operating cash flows of $90.7 million
• Annual contract value (ACV) of $520.5 million
• Deferred revenue and backlog of $1,394.0 million on June 30, 2024

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 the receipt of required regulatory approvals and other customary closing conditions. During the quarter ended June 30, 2024, the transaction was approved by Ansys shareholders. 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