Ansys has announced its fourth quarter results for 2018 highlighting growth in revenue in addition to the acquisition of Granta Design Limited and Helic.
Ajei Gopal, ANSYS President and CEO, commented, ‘Q4 was an outstanding quarter capping a stellar 2018. We grew double-digits across all key financial metrics for the quarter and the year. I am confident we are tracking towards our 2020 objective of sustained, double-digit revenue growth at industry leading margins.’
ANSYS reported fourth quarter 2018 GAAP and non-GAAP revenue growth of 11 per cent and 12 per cent, respectively. For FY 2018, GAAP and non-GAAP revenue growth was 11 per cent and 12 per cent, respectively, or 10 per cent and 11 per cent in constant currency. For the fourth quarter, the Company reported growth in diluted earnings per share of 70 per cent and 30 per cent on a GAAP and non-GAAP basis, respectively. For FY 2018, the Company reported growth in diluted earnings per share of 39 per cent and 32 per cent on a GAAP and non-GAAP basis, respectively.
In addition, Gopal stated, ‘I am looking forward to 2019. Our vision of making simulation pervasive across the product lifecycle is resonating with customers and partners. With a product portfolio that is stronger than ever, I am proud that we can solve many of the challenging problems faced by our customers as they bring next-generation products to market. With our continued focus on transforming our go-to-market, and with new partnerships with leading companies who are licensing ANSYS technology, we are unlocking future opportunities. I am excited about our growth prospects in 2019 and beyond.’
Maria Shields, ANSYS CFO, stated, ‘Our outstanding financial performance reflects the strength of our core business and our continued dedication and focus on execution, both during the fourth quarter and for the entire year. We set new company records across all key financial metrics including our Q4 and full year 2018 revenue, ACV, earnings and operating cash flows. To achieve both our near-term and longer-term growth objectives, we will move forward with investments in our core products, high-growth adjacent markets and our business infrastructure to continue building the platform to scale our business.’
Key highlights:
- ACV growth of 28% and 17% in constant currency for Q4 2018 and the year ended December 31, 2018, respectively
- Operating cash flows of $132.9 million and $486.4 million for Q4 2018 and FY 2018, respectively
- Deferred revenue and backlog of $659.2 million at December 31, 2018 under ASC 606 and $957.1 million at December 31, 2018, an increase of 24% over Q4 2017, under ASC 605
- Recurring revenue of 73% for Q4 2018 and 74% for FY 2018 on both a GAAP and non-GAAP basis, under ASC 606
- Recurring revenue of 72% for Q4 2018 and 76% for FY 2018 on both a GAAP and non-GAAP basis, under ASC 605
- Repurchased 0.5 million shares in the fourth quarter at an average price of $154.03 and 1.7 million shares during the year at an average price of $161.12
Full details of the Ansys financial earnings for 2018 can be found on the Ansys website.
