Ansys Inc.

ANSYS Inc. delivered a mixed result in the recent quarter, with revenues below market expectations, but it surpassed the analyst consensus regarding earnings. The last quarter for ANSYS Inc. presented a unique set of challenges as the company navigated additional restrictions imposed by the U.S. Department of Commerce on sales to certain Chinese entities. These restrictions included incremental approval processes and export restrictions on selling certain ANSYS products and services to entities in China. Despite these challenges, ANSYS delivered a robust quarter marked by double-digit growth in Annual Contract Value (ACV). Due to the introduced approval processes, the company faced delays in transacting specific orders for prospects in China, resulting in potential business loss or deferral. However, ANSYS demonstrated resilience and agility, delivering strong ACV growth across various industries, except for China. Notably, the company emphasized that China represents only a tiny portion of its overall business and remains confident in its ability to execute short- and long-term objectives. High-tech, semiconductor, aerospace and defense, and automotive and ground transportation were highlighted as top-performing industries in the quarter. ANSYS showcased its significant role in the automotive industry, focusing on electrification, autonomy, driver-assisted systems, and software-defined vehicles.