Initiates Q3 2021 Outlook and
Increases FY 2021 Outlook on ACV, Revenue, Non-GAAP EPS and Cash Flow

Details related to our financial guidance, including assumptions and economic impacts of COVID-19, are detailed in our prepared remarks document.

/ Key Highlights - Q2 2021

• GAAP revenue of $446.7 million and non-GAAP revenue of $452.6 million
• GAAP diluted earnings per share of $1.06 and non-GAAP diluted earnings per share of $1.85
• GAAP operating profit margin of 26.1% and non-GAAP operating profit margin of 41.7%
• Operating cash flows of $118.9 million
• Annual contract value (ACV) of $430.5 million
• Deferred revenue and backlog of $927.1 million on June 30, 2021

PITTSBURGH, Aug. 04, 2021 (GLOBE NEWSWIRE) -- ANSYS, Inc. (NASDAQ: ANSS), today reported second quarter 2021 GAAP and non-GAAP revenue growth of 16% in reported currency, or 13% and 14% in constant currency, respectively, when compared to the second quarter of 2020. For the second quarter of 2021, the Company reported diluted earnings per share of $1.06 and $1.85 on a GAAP and non-GAAP basis, respectively, compared to $1.11 and $1.55 on a GAAP and non-GAAP basis, respectively, for the second quarter of 2020.

"Ansys delivered exceptionally strong results for the second quarter and significantly beat our financial guidance across our key metrics. Our broad-based growth validates our strategy of Pervasive Simulation, and our product leadership and ongoing go-to-market momentum gives us increased confidence in our business and ability to execute against our goals. In July, we extended our technology leadership with Ansys 2021 R2, which introduced breakthrough technologies and innovative capabilities across our product portfolio. These enhancements are bolstering the value of Ansys simulation for our customers by providing them greater engineering insight with enhanced speed and scalability,” said Ajei Gopal, Ansys president and CEO.

Nicole Anasenes, Ansys CFO, stated, “Our outstanding performance was highlighted by 25% ACV growth in the second quarter, driving our first half 2021 ACV growth to 16%. Given the strength and momentum in our core business year-to-date, coupled with our sales pipeline, I am confident in our ability to achieve our increased full-year 2021 guidance.”

/ Financial Results

Ansys' second quarter and year-to-date (YTD) 2021 and 2020 financial results are presented below. The 2021 and 2020 non-GAAP results exclude the income statement effects of the acquisition accounting adjustments to deferred revenue, stock-based compensation, amortization of acquired intangible assets, and transaction expenses related to business combinations.

GAAP and non-GAAP results are as follows: