-
- News
- Books
Featured Books
- design007 Magazine
Latest Issues
Current IssueBreaking High-speed Material Constraints
Do you need specialty materials for your high-speed designs? Maybe not. Improvements in resins mean designers of high-speed boards can sometimes use traditional laminate systems. Learn more in this issue.
Level Up Your Design Skills
This month, our contributors discuss the PCB design classes available at IPC APEX EXPO 2024. As they explain, these courses cover everything from the basics of design through avoiding over-constraining high-speed boards, and so much more!
Opportunities and Challenges
In this issue, our expert contributors discuss the many opportunities and challenges in the PCB design community, and what can be done to grow the numbers of PCB designers—and design instructors.
- Articles
- Columns
Search Console
- Links
- Events
||| MENU - design007 Magazine
Ansys Announces Financial Results With Record Q3 Cash Flow and ACV
November 2, 2023 | ANSYSEstimated reading time: 2 minutes
ANSYS, Inc. reported third quarter 2023 GAAP and non-GAAP revenue of $458.8 million, a decrease of 3% in reported currency, or 4% in constant currency, when compared to the third quarter of 2022. For the third quarter of 2023, the Company reported diluted earnings per share of $0.64 and $1.41 on a GAAP and non-GAAP basis, respectively, compared to $1.10 and $1.77 on a GAAP and non-GAAP basis, respectively, for the third quarter of 2022. Additionally, the Company reported third quarter ACV growth of 12% in reported currency, or 10% in constant currency, when compared to the third quarter of 2022.
In the context of broader U.S. foreign policy shifts, the U.S. Department of Commerce is continuing to apply controls to the export to China of certain technologies. Ansys maintains a robust global compliance program. Compliance and cooperation with the U.S. government’s evolving requirements are paramount to Ansys. Our third quarter results were negatively impacted by incremental approval processes and export restrictions, including additional restrictions on sales to certain Chinese entities, which created a $20 million headwind to ACV and revenue that was not contemplated in our third quarter guidance provided in August. We continue to collaborate with the Department of Commerce to adhere to the new requirements, and we have internally aligned our business operations to adjust to these requirements. Please see the ‘Fourth Quarter and Fiscal Year 2023 Guidance’ section for more details.
“Ansys continues to see robust, broad-based demand for our technology and products. We were tracking to deliver on our third quarter guidance commitments when we were notified by the U.S. Department of Commerce of incremental export restrictions and enhanced approval processes for certain products and services. This disrupted our business in the quarter by adding restrictions on sales to certain Chinese entities and elongating the transaction cycle for certain prospects. Despite these developments, Ansys delivered a strong quarter, marked by double-digit growth in ACV. Given the critical role that Ansys solutions play in our customers’ product development initiatives and the strength of the underlying foundation of our business, I am confident in our ability to execute on our short- and long-term objectives," stated Ajei Gopal, Ansys president and CEO.
Nicole Anasenes, Ansys CFO, stated, “Our ability to deliver double-digit ACV constant currency growth in Q3, despite the disruption from changes required for export compliance, is a testament to the resilience of our business model. Our highly recurring business model, significant base of renewal business, market-leading simulation portfolio and deep customer relationships create a strong financial foundation and contribute to unwavering demand for our product. Despite the disruption in Q3, our results year-to-date are strong with ACV growth of 12% in constant currency. With our double-digit performance year-to-date and the continued strong pipeline and momentum in our business, we are confident in our ability to achieve our short- and long-term guidance.”
Suggested Items
Würth Elektronik in United States Embarks on New Milestone with State-of-the-Art Headquarters
05/17/2024 | Wurth ElektronikWürth Elektronik in the United States, a leading manufacturer of electronic and electromechanical components as well as custom magnetics, has announced the commencement of construction on a new 70,000-square-foot headquarters. This new facility underscores the company’s commitment to innovation and grow in the electronics industry.
Nortech Systems Reports Q1 Results and Actions to Reduce Facility Costs
05/17/2024 | BUSINESS WIRENortech Systems Incorporated, a leading provider of engineering and manufacturing solutions for complex electromedical and electromechanical products serving the medical, industrial and defense markets, reported first quarter ended March 31, 2024 financial results.
Shipments of OLED Monitors Hit 200,000 Units in 1Q24, Annual Forecast to Reach 1.34 Million
05/17/2024 | TrendForceTrendForce’s latest report reveals a robust start to 2024 for OLED monitors, with shipments reaching approximately 200,000 units in the first quarter—marking a YoY growth of 121%.
The ICAPE Group Reports Revenue for Q1 2024
05/16/2024 | ICAPE GroupThe ICAPE Group, a global technology distributor of printed circuit boards (PCB) and custom-made electromechanical parts, announced its revenue for the first quarter of 2024.
IDC: Indonesia’s Smartphone Market Starts the Year with a Strong 27.4% Growth in 1Q24
05/16/2024 | IDCIndonesia’s smartphone market grew sharply at 27.4% year-over-year (YoY) and 11.5% quarter-over-quarter (QoQ) to 10 million units in 1Q24, according to International Data Corporation’s (IDC) Worldwide Quarterly Mobile Phone Tracker.