On February 19, 2025, Ansys Inc (ANSS, Financial) released its 8-K filing detailing its financial results for the fourth quarter and full fiscal year 2024. Ansys, a leading engineering software company known for its simulation capabilities, reported significant growth in both revenue and earnings per share (EPS), surpassing analyst estimates.
Company Overview
Ansys Inc (ANSS, Financial) is a prominent player in the engineering software industry, providing simulation solutions for structural, fluids, semiconductor power, embedded software, optical, and electromagnetic properties. With a global workforce of over 4,000 employees, Ansys serves more than 50,000 customers worldwide.
Performance Highlights
For the fourth quarter of 2024, Ansys reported revenue of $882.2 million, exceeding the analyst estimate of $863.49 million. This represents a 10% increase in reported currency, or 11% in constant currency, compared to the same quarter in 2023. The company's GAAP diluted EPS was $3.21, below the estimated EPS of $3.39. However, the non-GAAP diluted EPS was $4.44, significantly surpassing the estimate.
For the full fiscal year 2024, Ansys achieved revenue of $2,544.8 million, surpassing the annual estimate of $2,505.98 million. The GAAP diluted EPS for the year was $6.55, while the non-GAAP diluted EPS reached $10.91, both figures exceeding the annual estimates.
Financial Achievements and Industry Importance
Ansys' robust financial performance is crucial for its position in the software industry, where innovation and technological advancement are key. The company's ability to consistently grow its revenue and maintain high profit margins underscores its competitive edge and operational efficiency.
Key Financial Metrics
In Q4 2024, Ansys reported a GAAP operating profit margin of 40.3% and a non-GAAP operating profit margin of 53.3%. Operating cash flows were $258.0 million, with unlevered operating cash flows at $266.8 million. The annual contract value (ACV) for the quarter was $1,094.6 million, contributing significantly to the full-year ACV of $2,563.0 million.
| Metric | Q4 2024 | FY 2024 |
|---|---|---|
| Revenue | $882.2 million | $2,544.8 million |
| GAAP EPS | $3.21 | $6.55 |
| Non-GAAP EPS | $4.44 | $10.91 |
| Operating Cash Flows | $258.0 million | $795.7 million |
| ACV | $1,094.6 million | $2,563.0 million |
Analysis and Future Outlook
Ansys' strong financial results reflect its strategic focus on innovation and customer satisfaction. The company's ability to exceed revenue and EPS estimates demonstrates its resilience and adaptability in a competitive market. The pending acquisition by Synopsys, Inc. is expected to further enhance Ansys' capabilities and market reach, subject to regulatory approvals.
Despite the positive financial performance, Ansys faces challenges related to currency fluctuations and regulatory approvals for the acquisition. The company's suspension of quarterly earnings calls and guidance due to the pending transaction adds a layer of uncertainty for investors.
Overall, Ansys Inc (ANSS, Financial) continues to show strong financial health and growth potential, making it an attractive consideration for value investors seeking opportunities in the software industry.
Explore the complete 8-K earnings release (here) from Ansys Inc for further details.
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