anss-20250331

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

(Mark One)


☒			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2025


☐			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _________ to _________

Commission File Number: 0-20853

ANSYS, Inc.

(Exact name of registrant as specified in its charter)

Delaware

04-3219960

(State or other jurisdiction of incorporation or organization)

(I.R.S. Employer Identification No.)

2600 ANSYS Drive,

Canonsburg,

15317

(Address of Principal Executive Offices)

(Zip Code)

844-462-6797

(Registrant's telephone number, including area code)

N/A

(Former name, former address and former fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, $0.01 par value per share

ANSS

Nasdaq Stock Market LLC

(Nasdaq Global Select Market)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer

☒

Accelerated filer

☐

Non-accelerated filer

☐

Smaller reporting company

☐

Emerging growth company

☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes ☐ No ☒

The number of shares of the Registrant's Common Stock, $0.01 par value per share, outstanding as of April 25, 2025 was 87,916,143 shares.

ANSYS, INC. AND SUBSIDIARIES

INDEX



PART I	FINANCIAL INFORMATION	Page No.

Item 1.	Financial Statements

	Condensed Consolidated Balance Sheets – Ma r ch 3 1 , 202 5 and December 31, 202 4	3

	Condensed Consolidated Statements of Income – Three Months Ended March 3 1 , 202 5 and 202 4	4

	Condensed Consolidated Statements of Comprehensive Income – Three Months Ended Ma r ch 3 1 , 202 5 and 202 4	5

	Condensed Consolidated Statements of Cash Flows – Thre e Months Ended Ma r ch 3 1 , 202 5 and 202 4	6

	Condensed Consolidated Statements of Stockholders' Equity – Three Months Ended Ma r ch 3 1 , 202 5 and 202 4	7

	Notes to Condensed Consolidated Financial Statements	8

Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	21

Item 3.	Quantitative and Qualitative Disclosures About Market Risk	39

Item 4.	Controls and Procedures	41

PART II	OTHER INFORMATION

Item 1.	Legal Proceedings	42

Item 1A.	Risk Factors	42

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	42

Item 3.	Defaults Upon Senior Securities	42

Item 4.	Mine Safety Disclosures	42

Item 5.	Other Information	42

Item 6.	Exhibits	43

	SIGNATURES	44

Table of Contents

PART I – FINANCIAL INFORMATION

Item 1.Financial Statements:

ANSYS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)


(in thousands, except share and per share data)	March 31, 2025		December 31, 2024
ASSETS
Current assets:
Cash and cash equivalents	$	1,758,155	$	1,446,743
Short-term investments	70,404		50,774
Accounts receivable, less allowance for doubtful accounts of $15,200 and $16,500, respectively	754,655		1,022,850
Other receivables and current assets	265,618		311,126
Total current assets	2,848,832		2,831,493
Long-term assets:
Property and equipment, net	92,733		89,646
Operating lease right-of-use assets	100,440		105,122
Goodwill	3,799,809		3,778,128
Other intangible assets, net	694,235		716,244
Other long-term assets	218,145		308,333
Deferred income taxes	226,819		222,465
Total long-term assets	5,132,181		5,219,938
Total assets	$	7,981,013	$	8,051,431
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable	$	22,249	$	27,062
Accrued bonuses and commissions	40,613		189,521
Accrued income taxes	34,319		15,105

Other accrued expenses and liabilities	191,604		204,969
Deferred revenue	490,318		504,527
Total current liabilities	779,103		941,184
Long-term liabilities:
Deferred income taxes	56,027		55,863
Long-term operating lease liabilities	81,799		86,936
Long-term debt	754,287		754,208
Other long-term liabilities	130,322		126,800
Total long-term liabilities	1,022,435		1,023,807
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.01 par value; 2,000,000 shares authorized; zero shares issued or outstanding	—		—
Common stock, $

SEC Form 10-Q filed by ANSYS Inc.