ANSYS, Inc. (ANSS) Q2 2023 Earnings Call Transcript

For the period ending June 30, 2023

August 3, 2023 8:30 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Ladies and gentlemen, thank you for standing by, and welcome to the ANSYS Second Quarter 2023 Earnings Conference Call. With us today are Ajei Gopal, President and Chief Executive Officer; Nicole Anasenes, Chief Financial Officer; and Kelsey DeBriyn, Vice President, Investor Relations. [Operator Instructions] Please note this event is being recorded.

At this time, I would like to turn the conference over to Ms. DeBriyn for opening remarks. Please go ahead.

Kelsey DeBriyn

Good morning, everyone. Our earnings release, the related prepared remarks document and the link to our second quarter 2023 Form 10-Q have all been posted on the homepage of our Investor Relations website. They contain the key financial information and supporting data relative to our second quarter financial results and business update, as well as our Q3 and fiscal year 2023 outlook and the key underlying quantitative and qualitative assumptions.

Today's presentation contains forward-looking information. important factors that may affect our future results are discussed in our public filings. Forward-looking statements are based upon our view of the business as of today, and ANSYS undertakes no obligations to update any such information.

During this call, we will be referring to non-GAAP financial measures unless otherwise stated. A discussion of the various items that are excluded and reconciliations of GAAP to the comparable non-GAAP financial measures are included in our earnings release materials.

I would now like to turn the call over to our President and CEO, Ajei Gopal, for his opening remarks. Ajei?

Ajei Gopal

Good morning. And thank you for joining today's call.

Building on the momentum of the first quarter of 2023, Q2 was another excellent quarter for ANSYS in which we beat our guidance across all key metrics. For the first half of 2023, we saw double-digit growth in ACV and revenue, as well as broad-based growth across industries, geographies and customer types.

I'm excited about our outstanding performance in Q2 and the first half of the year as well as our strong pipeline. And I'm delighted to announce that we are raising full year guidance for ACV and revenue. Nicole, will have the details in a few minutes.

For Q2, our top three contributors by industry for high-tech and semiconductors, aerospace and defense, and automotive and ground transportation. We saw robust growth in our small and medium-sized accounts and from a geographical perspective, our growth was as we expected.