Gross Retention excludes expansion - it shows pure churn / contraction loss. The gap between NRR and GRR is the expansion lift.
Peak NRR of 110% in FY-2024. Latest is 109% - that's -1pp from peak.
Bentley Systems is above the Construction SaaS Public median by +0pp (cell median: 109%)
Bentley Systems (BSY) is a construction saas company at the public stage. As of its most recent disclosure (FY2026-Q2), Bentley Systems reported a Net Revenue Retention rate of 109% - a mid-pack result for B2B SaaS at this segment.
Bentley Systems is currently at or near its all-time NRR peak. Over the past three years, the metric has expanded by 11pp.
Within its peer set (construction saas companies at public stage in the $100k-$500k acv band), Bentley Systems's NRR is roughly in line with the cell median of 109%. Compare against the full peer cell aggregate for distribution and top performers.
Contract shape and forward-booked revenue.
Logo flow per period (count-side complement to dollar-based NRR).
Support tiers: SELECT subscription program · E365 · Virtuosity
CS team segments: Enterprise (E365) · SMB (less than $100,000 ARR)
CSM model: hybrid
Education programs: Virtuosity expert assistance
Top customer exec: Patrick Cozzi - Chief Platform Officer (since 2024)
Computed from the data above. Shows where value comes from and where leakage hides.
Named CS initiatives across recent disclosures (newest first).
Equity-based incentive program for executives based on AOI less SBC growth
"In June 2024, the Sustainability Committee... established an equity-based incentive program... Career Stock Program"
Inviting users to partner to explore how applications evolve technically and commercially for AI use cases.
"we also announced the Infrastructure AI Co-Innovation Initiative, inviting our users to partner with us"
New foundational layer for project and asset information improving collaboration across the lifecycle.
"we announced Connect, a new foundational layer to Bentley Infrastructure Cloud."
Commercial model using contractual floors and ceilings based on consumption.
"willingness of accounts to commit to higher contractual floors in return for corresponding ceilings"
Initiative targeting digital twins for infrastructure operations and maintenance.
"Asset Analytics initiative portends its comparatively unlimited potential, monetized per asset"
Embedding success experts and quarterly blueprints to improve accretion rates in enterprise accounts.
"compensated for embedding our success experts and quarterly blueprints to consistently improve our rates of accretion"
AI-driven entry points for digital twins and operations and maintenance to drive ARR.
"our new AI-driven asset analytics initiatives can provide instant-on entry points for digital twins"
New product portfolio leveraging AI for insights into infrastructure asset conditions.
"Bentley Asset Analytics was another strategic announcement we made at YII."
Challenges acknowledged by management. Useful peer signals - your team is probably not alone.
Uncertainty in China due to geopolitical challenges and obstacles to cloud-deployed software
"future results in China remain uncertain as a result of continued geopolitical challenges"
Economic and geopolitical headwinds in China impacting ARR growth.
"China's performance was consistent with our expectations, given the economic and geopolitical headwinds"
Potential for disruption in consumption expectations if the shutdown persists.
"consumption expectations going forward may be impacted. This is super early to say."
Economic and geopolitical headwinds in China impacting overall retention metrics.
"China performed in line with our expectations, given ongoing economic and geopolitical headwinds"
Global shortage of engineers limiting customer capacity to execute projects.
"demand for better and more resilient infrastructure continues to outpace the available engineering resource capacity"
Decline in IBM Maximo implementation services impacting non-recurring revenue.
"Professional services have always been the most volatile... implementation services for IBM's Maximo declined"
Curated quotes about customer outcomes, retention, renewals.
"we and our enterprise accounts have constructively agreed to contain and exchange the potential extremes of their consumption volatility for a predictable and mutually satisfactory range of visibility."
"We're compensated for embedding our success experts and quarterly blueprints to consistently improve our rates of accretion in each account."
"Retention remains high within the segment. We expect renewals to be further supported as we expand our auto-renewal process."
"E365 continues to be a growth driver, with renewals consistently reflecting stronger commitment levels."
"the prevailing sustainment of our E365 renewals... reflects shared confidence of enterprise accounts and of Bentley Systems"
"We must make existing engineers more productive by empowering them with better tools, smarter workflows, and more connected data."
Side-by-side NRR, customer cohorts, commercial structure, and CS motion.
Free to embed on your blog or board deck. Includes a small backlink to cust.co.
Or grab the data: JSON API →
| Period | NRR | GRR | Source type | Filing |
|---|---|---|---|---|
| FY2026-Q2 | 109% | - | 10-K | source ↗ |
| FY2025-Q4 | 109% | 99% | earnings-call-transcript | source ↗ |
| FY-2025 | 109% | - | 10-K | source ↗ |
| FY2025-Q3 | 109% | - | 10-Q-mdna | source ↗ |
| FY2025-Q2 | 110% | - | 10-K | source ↗ |
| FY2025-Q1 | 110% | - | 10-Q-mdna | source ↗ |
| FY2024-Q4 | 110% | - | earnings-call-transcript | source ↗ |
| FY-2024 | 110% | - | 10-K | source ↗ |
| FY2024-Q3 | 109% | - | 10-Q-mdna | source ↗ |
| FY2024-Q2 | 109% | - | 10-K | source ↗ |
| FY2024-Q1 | 108% | - | 10-Q-mdna | source ↗ |
| FY2023-Q4 | 108% | - | 10-Q-mdna | source ↗ |
| FY2023-Q2 | 98% | - | 10-Q-mdna | source ↗ |
| FY2022-Q2 | 98% | - | 10-K | source ↗ |
| FY2021-Q4 | 98% | - | 10-Q-mdna | source ↗ |
| FY2021-Q3 | 98% | - | 10-Q-mdna | source ↗ |
| FY2021-Q2 | 98% | - | 10-Q-mdna | source ↗ |
| FY2020-Q4 | 98% | - | 10-Q-mdna | source ↗ |
| FY2018-Q4 | 98% | - | 10-Q-mdna | source ↗ |
Generate a live retention report against Bentley Systems and your full peer cell. Ungated. Downloadable as PDF.