ANSYS Earnings Call $ANSS Q1 2023 10Q

[NYSE: ANSS]

MAY 4, 2023

Key Takeaway from ANSYS earnings call $ANSS Q1 2023 10Q:

ANSYS had an outstanding Q1 2023, exceeding expectations in ACV growth and revenue across regions and sectors. The company’s strong performance was driven by its world-class products, customer demand, and broad-based growth. ANSYS is focused on innovation across five technology pillars: Numerics, HPC, AI/ML, Cloud and Experience, and digital engineering. These pillars enable ANSYS to differentiate its solutions, solve complex challenges, and fuel growth through more products, more users, and more computations. The company’s commitment to sustainability, partnerships, and workplace excellence further solidifies its position in the market.

 

Key points from ANSYS earnings call $ANSS Q1 2023 10Q

– ANSYS had an exceptional Q1 2023, surpassing expectations in all key metrics, including ACV growth and revenue.

– Revenue grew by double-digits in every region, with the Americas leading the way, and the high-tech, semiconductor, aerospace, defense, and automotive sectors being the top contributors.

– ANSYS secured a significant three-year contract with a multinational aerospace and defense technology company worth nearly $74 million. The contract showcased ANSYS’ value and its digital mission engineering and electromagnetic solutions, which reduced time to market by 50%.

– ANSYS is driving innovation across its multiphysics portfolio with five technology pillars: Numerics, HPC (high-performance computing), AI/ML (artificial intelligence/machine learning), Cloud and Experience, and digital engineering.

– The Numerics pillar focuses on advanced numerical simulation methods to accurately predict physical phenomena, and recent releases have introduced advanced capabilities in ANSYS Mechanical, HFSS, and CFD.

– The HPC pillar enables customers to solve complex problems faster, leveraging partnerships with hyperscale computer partners and introducing new technologies like hybrid parallel and multi-GPU solvers.

– ANSYS incorporates AI techniques across its portfolio to accelerate simulations, reduce iterative runs, and enhance ease of use. Real-time radar functionality in HFSS and AI-powered optimization in ANSYS optiSLang were highlighted as examples.

– ANSYS offers cloud solutions through its Cloud Marketplace and cloud native capabilities, partnering with AWS and Microsoft Azure. These offerings provide flexibility, scalability, and faster simulations.

– Digital engineering, the final pillar, enables collaborative execution of engineering tasks, model-based engineering, system-level simulation, and an agile iterative methodology. ANSYS Minerva and SCADE were mentioned as examples.

– ANSYS emphasized its commitment to sustainability and partnerships with Synopsys and Keysight Technologies. The company also expanded university partnerships to train the next generation of engineers and highlighted its corporate responsibility report and workplace certification.

 

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