DS’ Q3 blew past expectations
Dassault Systèmes just announced Q3 results that nicely exceeded July’s guidance of total, non-IFRS revenue of about €665 million; Q3 came in at non-IFRS revenue of €686 million, up 9% in constant currencies. I think that’s also a bit above market expectations. DS’ prepared remarks say that growth was led by Europe and the Americas on “broad-based” demand that helped offset offset volatility in Asia — we’ll know more after the earnings calls and presentations. Briefly, since I’m at AVEVA World Summit in Dubai:
- Total revenue in Q3 was €676 million, up 20% as reported and up 11% in constant currencies (cc)
- Software revenue was €594 million, up 19% (10% cc), with new license revenue of €146 million, up 19% as reported and 9% on an organic basis (non-IFRS)
- Revenue from the Americas was €219 million, up 32% (12% cc); from Europe, €292 million, up 20% (17% cc); and from Asia, €166 million, up 8% (1% cc)
- On a non-IFRS basis, CATIA software revenue was €222 million, up 9% (up 3% cc); ENOVIA, €70 million, up 16% (8% cc); SOLIDWORKS, €136 million, up 23% (up 9%cc) and Other, €176 million, up 28% (18% cc)
DS tweaked its objectives for the rest of the year to take this overage into account and to reflect slightly different currency assumptions for the current quarter. The company forecasts non-IFRS Q4 revenue of €750 million or so, and full year revenue of €2.82 billion to €2.83 billion. More after I’ve had a chance to listen to the replays.