ANSYS, Inc. (ANSS) Q3 2022 Earnings Call Transcript

For the period ending September 30, 2022

November 3, 2022 8:30 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Call Participants:

Kelsey DeBriyn - VP, IR

Ajei Gopal - President and CEO

Nicole Anasenes - CFO and Senior Vice President, Finance

Gal Munda - Wolfe Research - Analyst

Tyler Radke - Citi - Analyst

Jay Vleeschhouwer - Griffin Securities - Analyst

Steve Tusa - JP Morgan - Analyst

Blair Abernethy - Rosenblatt Securities - Analyst

Jason Celino - KeyBanc Capital Markets - Analyst

Andrew DeGasperi - Berenberg - Analyst

Adam Borg - Stifel - Analyst

Operator

Ladies and gentlemen, thank you for standing by. And welcome to the ANSYS Third Quarter 2022 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. All participants will be in a listen-only mode. Please note today's 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 - VP, IR

Good morning, everyone. Our earnings release, the related prepared remarks document and the link to our third quarter 2022 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 third quarter financial results and business update, as well as our Q4 and updated fiscal year 2022 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 obligation 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 - President and CEO

Good morning, everyone. And thank you for joining us. Q3 was yet another excellent quarter for ANSYS, where we once again beat across our key metrics, including ACV, revenue, operating margins and earnings per share. This gives us further confidence in the business and has enabled us to operationally raise our full year guidance for ACV, revenue, EPS and operating cash flow. Nicole will have the details in a few minutes. As we have previously discussed the strength and the resilience of the ANSYS business come in part because of the number and the diversity of customers we serve, ANSYS has 10s of 1000s of customers across multiple industries, including high tech and semiconductor, aerospace and defense and automotive and ground transportation. Those three sectors were again our largest contributors in Q3.