Ansys Announces Financial Results With Record Q2 Revenue and ACV

ANSYS, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Income
(Unaudited)
	Three Months Ended						Six Months Ended
*(in thousands, except per share data)*	June 30, 2023			June 30, 2022			June 30, 2023			June 30, 2022
Revenue:
Software licenses	$	204,897		$	208,981		$	424,049		$	366,426
Maintenance and service		291,702			264,869			581,997			532,501
Total revenue		496,599			473,850			1,006,046			898,927
Cost of sales:
Software licenses		8,659			8,509			20,403			16,945
Amortization		20,079			17,414			39,697			34,666
Maintenance and service		39,602			36,564			75,892			75,636
Total cost of sales		68,340			62,487			135,992			127,247
Gross profit		428,259			411,363			870,054			771,680
Operating expenses:
Selling, general and administrative		202,142			170,383			390,726			340,138
Research and development		125,023			108,941			245,358			214,215
Amortization		5,470			4,029			10,651			8,154
Total operating expenses		332,635			283,353			646,735			562,507
Operating income		95,624			128,010			223,319			209,173
Interest income		3,402			269			7,480			796
Interest expense		(11,560	)		(4,609	)		(22,318	)		(7,576	)
Other expense, net		(3,483	)		(776	)		(3,660	)		(1,470	)
Income before income tax provision		83,983			122,894			204,821			200,923
Income tax provision		14,457			24,094			34,673			31,135
Net income	$	69,526		$	98,800		$	170,148		$	169,788
Earnings per share – basic:
Earnings per share	$	0.80		$	1.14		$	1.96		$	1.95
Weighted average shares		86,696			87,001			86,813			87,062
Earnings per share – diluted:
Earnings per share	$	0.80		$	1.13		$	1.95		$	1.94
Weighted average shares		87,192			87,321			87,312			87,535

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