ANSYS, Inc's (ANSS) Q1 2022 - Earnings Call Transcript

For the period ending March 31, 2022

May 5, 2022 8:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Ladies and gentlemen, good morning, and thank you for standing by, and welcome to the ANSYS First Quarter 2022 Earnings Conference Call. With us today are Ajei Gopal, President and Chief Executive Officer; Nicole Anasenes, Chief Financial Officer and Senior Vice President of Finance; and Kelsey DeBriyn, Vice President, Investor Relations. All participants will be in a listen-only mode. After today's presentation, there will be an opportunity to ask questions. Please also note today's event is being recorded.

At this time, I'd like to turn the conference call over to Ms. DeBriyn for opening remarks. Ma'am, please go ahead.

Kelsey DeBriyn – VP of IR

Good morning, everyone. Our earnings release, the related prepared remarks document and the link to our first 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 first quarter financial results and business update as well as our Q2 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 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 – President and CEO

Good morning, everyone, and thank you for joining us. I'm happy to report that Q1 was another great quarter for ANSYS. We again beat across all our key metrics and grew ACV by nearly 11% in constant currency. We believe that this continued momentum, combined with our strong customer relationships and leading multiphysics product suite, will set the tone for Q2 and the rest of the year. These strong results came in the midst of continued disruptions caused by the ongoing COVID-19 pandemic, which has spurred additional lockdowns in certain regions as well as geopolitical dynamics.