/ Fiscal Year 2024 Comments
As we look to the future, the updated export restrictions and incremental processes will also mute Ansys's ACV and revenue growth in China in 2024, after which we expect our growth in China to return to steady-state. Despite these headwinds, in February, we still expect to initiate full year 2024 guidance with ACV of around 10% constant currency growth excluding tuck-in M&A, which is consistent with our model. Ansys has a diverse and broad customer base, and we play a critical role in our customers’ product development. We continue to focus our efforts on areas of opportunity and innovation to ensure continued growth. As a result, we reaffirm our long-term outlook from 2022 to 2025 of 12% constant currency ACV growth, including tuck-in M&A, and $3 billion of cumulative unlevered operating cash flows.
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Conference Call Information
Ansys will hold a conference call at 8:30 a.m. Eastern Time on November 2, 2023 to discuss third quarter results. The Company will provide its prepared remarks on the Company’s investor relations homepage and as an exhibit in its Form 8-K in advance of the call to provide stockholders and analysts with additional time and detail for analyzing its results in preparation for the conference call. The prepared remarks will not be read on the call, and only brief remarks will be made prior to the Q&A session.
To participate in the live conference call, dial 855-239-2942 (US) or 412-542-4124 (Canada & Int’l). The call will be recorded and a replay will be available within two hours after the call. The replay will be available by dialing (877) 344-7529 (US), (855) 669-9658 (Canada) or (412) 317-0088 (Int’l) and entering the access code 7702246. The archived webcast can be accessed, along with other financial information, on Ansys' website at https://investors.ansys.com/events-presentations/events.
/ GAAP Financial Statements
| ANSYS, INC. AND SUBSIDIARIES | |||||
| Condensed Consolidated Balance Sheets | |||||
| (Unaudited) | |||||
| (in thousands) | September 30, 2023 | December 31, 2022 | |||
| ASSETS: | |||||
| Cash & short-term investments | $ | 639,513 | $ | 614,574 | |
| Accounts receivable, net | 673,973 | 760,287 | |||
| Goodwill | 3,769,321 | 3,658,267 | |||
| Other intangibles, net | 849,205 | 809,183 | |||
| Other assets | 741,508 | 845,634 | |||
| Total assets | $ | 6,673,520 | $ | 6,687,945 | |
| LIABILITIES & STOCKHOLDERS' EQUITY: | |||||
| Current deferred revenue | $ | 349,668 | $ | 413,989 | |
| Long-term debt | 753,812 | 753,574 | |||
| Other liabilities | 563,240 | 654,531 | |||
| Stockholders' equity | 5,006,800 | 4,865,851 | |||
| Total liabilities & stockholders' equity | $ | 6,673,520 | $ | 6,687,945 | |
