/ Q4 2024 Results

• Revenue of $882.2 million
• GAAP diluted earnings per share of $3.21 and non-GAAP diluted earnings per share of $4.44
• GAAP operating profit margin of 40.3% and non-GAAP operating profit margin of 53.3%
• Operating cash flows of $258.0 million and unlevered operating cash flows of $266.8 million
• Annual contract value (ACV) of $1,094.6 million

/ FY 2024 Results

• Revenue of $2,544.8 million
• GAAP diluted earnings per share of $6.55 and non-GAAP diluted earnings per share of $10.91
• GAAP operating profit margin of 28.2% and non-GAAP operating profit margin of 45.7%
• Operating cash flows of $795.7 million and unlevered operating cash flows of $834.6 million
• ACV of $2,563.0 million
• Deferred revenue and backlog of $1,718.3 million on December 31, 2024

PITTSBURGH, Feb. 19, 2025 (GLOBE NEWSWIRE) -- ANSYS, Inc. (NASDAQ: ANSS), today reported fourth quarter 2024 revenue of $882.2 million, an increase of 10% in reported currency, or 11% in constant currency, when compared to the fourth quarter of 2023. For FY 2024, revenue growth was 12% in reported currency, or 13% in constant currency, when compared to FY 2023. For the fourth quarter of 2024, the Company reported diluted earnings per share of $3.21 and $4.44 on a GAAP and non-GAAP basis, respectively, compared to $3.14 and $3.94 on a GAAP and non-GAAP basis, respectively, for the fourth quarter of 2023. For FY 2024, the Company reported diluted earnings per share of $6.55 and $10.91 on a GAAP and non-GAAP basis, respectively, compared to $5.73 and $8.80 on a GAAP and non-GAAP basis, respectively, for FY 2023. Additionally, the Company reported fourth quarter and FY 2024 ACV growth of 15% and 11% in reported currency, respectively, or 16% and 13% in constant currency, respectively, when compared to the fourth quarter and FY 2023. Fourth quarter 2024 ACV of $1.1 billion contributed 43% of the full year 2024 ACV while Q1, Q2 and Q3 each contributed 16%, 20% and 21%, respectively. The Company expects double-digit FY 2025 ACV growth.

As previously announced, on January 15, 2024, Ansys entered into a definitive agreement with Synopsys, Inc. ("Synopsys") under which Synopsys will acquire Ansys. As previously announced by Synopsys, Ansys and Synopsys have received conditional clearance from the European Commission. The U.K. Competition and Markets Authority provisionally accepted our remedies towards a transaction approval in Phase 1. The State Administration for Market Regulation of the People’s Republic of China has officially accepted our filing, and its review of the proposed transaction is in process. We continue to work with the regulators in other relevant jurisdictions to conclude their reviews. 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. 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.

/ Summary of Financial Results

Ansys’ fourth quarter and fiscal year (FY) 2024 and 2023 financial results are presented below. The 2024 and 2023 non-GAAP results exclude the income statement effects of 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.

Our results are as follows: