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\n 04\/23\/2026 – 12:59 AM
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Press Release<\/p>\n
VELIZY-VILLACOUBLAY, France \u2014 April 23, 2026<\/p>\n
Dassault Syst\u00e8mes reports first quarter 2026 results in line with objectives and confirms full-year outlook<\/p>\n
\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n
Dassault Syst\u00e8mes<\/a> (Euronext Paris: FR0014003TT8, DSY.PA) today reports its IFRS unaudited estimated financial results for the first quarter 2026 ended March 31, 2026. The Group\u2019s Board of Directors approved these estimated results on April 22, 2026. This press release also includes financial information on a non-IFRS basis and reconciliations with IFRS figures in the Appendix.<\/p>\n First Quarter 2026 Summary Highlights1\u00a0\u00a0<\/p>\n (unaudited, IFRS & non-IFRS unless otherwise noted, Total revenue and software revenue up 3%, both in line with objectives, with strong performance of Mainstream InnovationAnnual Run Rate growth of 6% versus last year2, reaching \u20ac4.4 billion, reflecting good recurring activityIFRS Operating cash flow totaled \u20ac0.95 billion up 22%3DEXPERIENCE software revenue up 7%, and cloud software revenue growth of 8%Non-IFRS operating margin of 30.3%, underscoring healthy operational efficiencyNon-IFRS diluted EPS up 4% at \u20ac0.30Confirming FY26 non-IFRS objectives, capitalizing on first quarter achievements <\/p>\n Dassault Syst\u00e8mes\u2019 Chief Executive Officer and Chairman of the Board Commentary<\/p>\n Pascal Daloz, Dassault Syst\u00e8mes\u2019 Chief Executive Officer and Chairman of the Board, commented: <\/p>\n \u201cAs we enter 2026, we are executing in line with our priorities and translating our strategy into measurable business outcomes.<\/p>\n Manufacturing industries remain resilient, supported by strategic client wins, while the mainstream market continues to perform well, driven by SOLIDWORKS. Beyond our core, CENTRIC delivered strong growth, reflecting the continued progress of our diversification strategy. In Life Sciences, we completed a landmark transaction, further expanded our platform reach, and strengthened our value proposition.<\/p>\n We are at a clear inflection point as AI redefines operational excellence. Customers are moving from experimentation to industrial-scale deployment and are seeking trusted, agentic AI platforms grounded in deep industrial know-how. This is where Dassault Syst\u00e8mes stands apart.<\/p>\n Our commitment to 3D UNIV+RSES remains unwavering. We are accelerating both our AI roadmap and go-to-market execution, with a clear focus on monetization and scale. This quarter, we reached key milestones, including new Virtual Companion competencies and the unveiling of our industrial AI architecture, combining science-based Industry World Models with accelerated computing.<\/p>\n Overall, we remain focused on disciplined execution, continuous innovation, and delivering sustainable growth over time.\u201d<\/p>\n Dassault Syst\u00e8mes\u2019 Chief Financial Officer Commentary<\/p>\n (revenue, operating margin, operating cash flow and diluted EPS (\u201cEPS\u201d) growth rates in constant currencies, data on a non-IFRS basis)<\/p>\n Rouven Bergmann, Dassault Syst\u00e8mes\u2019 Chief Financial Officer, commented: <\/p>\n “In the first quarter, we delivered performance in line with our objectives – and our growth drivers demonstrate that our strategy is working: 3DEXPERIENCE and Cloud grew at more than twice the rate of overall software revenue while our Annual Run Rate was up 6%. Notably, we generated \u20ac949 million operating cash flow underscoring the quality of our earnings and the strength of our business model.<\/p>\n Across our geographies, Europe saw healthy growth this quarter, driven by strong contributions from consumer centric industries. In the Americas, the performance was impacted by a tough comparison base while growth in Transportation & Mobility and Home & Lifestyle was strong. Asia remained resilient led by core industries.<\/p>\n Profitability remained robust. Operating margin of 30.3% and EPS growth of 4% to \u20ac0.30 reflect the tangible benefits of our operational discipline. Operating cash flow surged 22% driven by improved working capital dynamics.<\/p>\n Looking ahead, our pipeline is well balanced across end markets, consequently we confirm our full year objectives.\u201d \u00a0<\/p>\n Financial Summary<\/p>\n In millions of Euros, First Quarter 2026 Versus 2025 Financial Comparisons<\/p>\n (unaudited, IFRS and non-IFRS unless otherwise noted, Total Revenue: Total revenue in the first quarter grew 3% to \u20ac1.51 billion, and software revenue rose 3% to \u20ac1.37 billion in IFRS and \u20ac1.38 billion in non-IFRS. Subscription & support revenue rose 2%; recurring revenue represented 85% of software revenue. Licenses and other software revenue were up 9% to \u20ac200 million. Services revenue increased 3% to \u20ac134\u00a0million, during the quarter. ARR: In the first quarter, ARR grew 6% year-over-year to reach \u20ac4.37 billion on a constant currency basis3.Software Revenue by Geography: The Americas revenue decreased 1%, mainly due to the strong baseline. The Americas represented 40% of software revenue. Europe (39% of software revenue) increased 7%, with broad-based growth across regions. Asia (21% of software revenue) was up 3%. This mixed performance was due to slight decline of China, offset by good growth in core industries, particularly in Korea, Japan, and India. Software Revenue by Product Line: Industrial Innovation software revenue was flat to \u20ac750 million on a high comparison base, particularly for CATIA. SIMULIA and ENOVIA remained resilient. Life Sciences software revenue was down 3% at \u20ac259 million. MEDIDATA was negatively impacted by continued headwinds. Mainstream Innovation software revenue increased by 14% to \u20ac367 million. SOLIDWORKS maintained its strong momentum, while CENTRIC saw a particularly strong return to growth. Software Revenue by Industry: Home & Lifestyle, Transportation & Mobility, and Industrial Equipment were the main contributors to growth this quarter. Key Strategic Drivers: 3DEXPERIENCE software revenue increased 7% and represented 42% of 3DEXPERIENCE Eligible software revenue, up 3 basis points compared to last year. Cloud software revenue grew 8%, representing 26% of software revenue during the period. Operating Income and Margin: IFRS operating income increased 14%, to \u20ac348 million, as reported. Non-IFRS operating income decreased 6% at \u20ac457 million, as reported, and increased 3% in constant currencies. The IFRS operating margin stood at 23.0% compared to 19.4% in the first quarter of 2025. The non-IFRS operating margin totaled 30.3%, versus 30.9% in the same period of last year.Diluted Earnings per Share: IFRS diluted EPS was \u20ac0.22, increasing 12% as reported. Non-IFRS diluted EPS grew to \u20ac0.30, down 6% as reported and up 4% in constant currencies.Cash Flow from Operations (IFRS): Cash flow from operations totaled \u20ac949 million, an increase of 17% compared to the first quarter of 2025. Cash flow from operations was principally used for\u00a0net\u00a0repayment of debt for \u20ac118 million, repurchase of Treasury Shares for \u20ac64 million and investment in CAPEX for\u00a0\u20ac23 million.Balance Sheet (IFRS): Dassault Syst\u00e8mes\u2019 net financial position totaled \u20ac2.40 billion as of March 31, 2026 compared to \u20ac1.79 billion last year. Cash and cash equivalents totaled \u20ac4.87\u00a0billion as of March 31, 2026. <\/p>\n Financial Objectives for 2026<\/p>\n Dassault Syst\u00e8mes\u2019 second quarter and 2026 financial objectives presented below are given on a non-IFRS basis and reflect the principal 2026 currency exchange rate assumptions for the US dollar and Japanese yen as well as the potential impact from additional non-Euro currencies:<\/p>\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Q2 2026FY 2026\u00a0\u00a0Total Revenue (billion)\u20ac1.518 – \u20ac1.568\u20ac6.290 – \u20ac6.410\u00a0\u00a0Growth0 – 3%1 – 3%\u00a0\u00a0Growth ex FX2 – 5%3 – 5%\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Software revenue growth *2 – 5%3 – 5%\u00a0\u00a0Services revenue growth *<\/p>\n 2 – 5%<\/p>\n 2 – 6%\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Operating Margin29.5% – 29.9%32.2% – 32.6%\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Diluted EPS\u20ac0.29 – \u20ac0.31\u20ac1.30 – \u20ac1.34\u00a0\u00a0Growth(1) – 3%(1) – 2%\u00a0\u00a0Growth ex FX3 – 7%3 – 6%\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0US dollar$1.18 per Euro$1.18 per Euro\u00a0\u00a0Japanese yen (before hedging)JPY 170.0 per EuroJPY 173.4 per Euro\u00a0\u00a0* Growth in Constant Currencies \u00a0\u00a0\u00a0 <\/p>\n These objectives are prepared and communicated only on a non-IFRS basis and are subject to the cautionary statement set forth below.<\/p>\n The 2026 non-IFRS financial objectives set forth above do not take into account the following accounting elements below and are estimated based upon the 2026 principal currency exchange rates above: contract liabilities write-downs was not significant; share-based compensation expenses, including related social charges, estimated at approximately \u20ac103\u00a0million (these estimates do not include any new stock option or share grants issued after March 31, 2026); amortization of acquired intangibles and of tangibles reevaluation, estimated at approximately \u20ac314\u00a0million, largely impacted by the acquisition of MEDIDATA; and lease incentives of acquired companies at approximately \u20ac1 million.<\/p>\n The above objectives also do not include any impact from other operating income and expenses, net principally comprised of acquisition, integration, IT transformation projects and restructuring expenses, and impairment of goodwill and acquired intangible assets; from one-time items included in financial revenue; from one-time tax effects; and from the income tax effects of these non-IFRS adjustments. Finally, these estimates do not include any new acquisitions or restructuring completed after March 31,\u00a02026.<\/p>\n Corporate Announcements<\/p>\n April 23, 2026: Worldwide Clinical Trials and MEDIDATA Announce Strategic Partnership to Embed Medidata AI Across the Full Trial Lifecycle, Bolstering Study Execution and Delivery Excellence<\/a>March 16, 2026: At NVIDIA GTC 2026, Dassault Syst\u00e8mes Demos the AI-Powered Virtual Twins Advancing Biology, Materials, Engineering and Manufacturing<\/a>March 10, 2026: AI Takes Center Stage at NEXT New York: MEDIDATA Showcases AI Companions and Orchestrated Intelligence Transforming Life Sciences<\/a>February 21, 2026: Dassault Syst\u00e8mes\u2019 CEO Pascal Daloz Becomes Also Chairman of the Board of Directors of Dassault Syst\u00e8mes<\/a>February 12, 2026: OUTSCALE And Cerba Healthcare Redefine The Patient Journey With AI<\/a>February 11, 2026: Dassault Syst\u00e8mes Unveils a New Way of Working for Industry with AI-Powered Virtual Companions<\/a>February 11, 2026: MEDIDATA Delivers a Decade of AI Leadership to 500+ Clinical Studies and Growing<\/a>February 3, 2026: Dassault Syst\u00e8mes and NVIDIA Partner to Build Industrial AI Platform Powering Virtual Twins<\/a> <\/p>\n Today\u2019s Webcast and Conference Call Information<\/p>\n Today, Thursday, April 23, 2026, Dassault Syst\u00e8mes will host in London a webcasted presentation at 9:00 AM London Time \/ 10:00 AM Paris time, and will then host a conference call at 8:30 AM New\u00a0York time \/ 1:30 PM London time \/ 2:30 PM Paris time. The webcasted presentation and conference calls will be available online by accessing investor.3ds.com.<\/p>\n Additional investor information is available at investor.3ds.com or by calling Dassault Syst\u00e8mes\u2019 Investor Relations at +33.1.61.62.69.24.<\/p>\n Investor Relations Events<\/p>\n Second Quarter 2026 Earnings Release: July 23, 2026Third Quarter 2026 Earnings Release: October 28, 2026Capital Markets Day: November 17, 2026Fourth Quarter 2026 Earnings Release: February 3, 2027 <\/p>\n Forward-looking Information<\/p>\n Statements herein that are not historical facts but express expectations or objectives for the future, including but not limited to statements regarding the Group\u2019s non-IFRS financial performance objectives are forward-looking statements. Such forward-looking statements are based on Dassault Syst\u00e8mes management’s current views and assumptions and involve known and unknown risks and uncertainties. Actual results or performances may differ materially from those in such statements due to a range of factors.<\/p>\n The Group\u2019s actual results or performance may be materially negatively affected by numerous risks and uncertainties, as described in the \u201cRisk Factors\u201d section 1.9 of the 2025 Universal Registration Document (\u2018Document d’enregistrement universel\u2019) filed with the AMF (French Financial Markets Authority) on March 31, 2026, available on the Group\u2019s website www.3ds.com<\/a>.<\/p>\n In particular, please refer to the risk factor \u201cUncertain Global Environment\u201d in section 1.9.1.1 of the 2025 Universal Registration Document set out below for ease of reference:<\/p>\n \u201cIn light of the uncertainties regarding economic, business, social, health and geopolitical conditions at the global level, Dassault Syst\u00e8mes\u2019 revenue, net earnings and cash flows may grow more slowly, whether on an annual or quarterly basis, mainly due to the following factors:<\/p>\n the deployment of Dassault\u00a0Syst\u00e8mes\u2019 solutions may represent a large portion of a customer\u2019s investments in software technology. Decisions to make such an investment are impacted by the economic environment in which the customers operate. Uncertain global geopolitical, economic and health conditions and the lack of visibility or the lack of financial resources may cause some customers, e.g. within the automotive, aerospace, energy or natural resources industries, to reduce, postpone or cancel their investments, or to reduce or not renew ongoing paid maintenance for their installed base, which impact larger customers\u2019 revenue with their respective sub-contractors;the geopolitical, economic and monetary situation in certain geographic regions where Dassault\u00a0Syst\u00e8mes operates could become more volatile and negatively affect Dassault\u00a0Syst\u00e8mes\u2019 business, and in particular its revenue, for example due to stricter export compliance rules, or the implementation of new customs barriers or controls on the exchange of goods and services;continued inflationary pressure or volatility on raw materials, computer hardware and energy prices could also slow down Dassault\u00a0Syst\u00e8mes\u2019 diversification efforts in new industries or negatively affect its financial health; andthe sales cycles of Dassault\u00a0Syst\u00e8mes\u2019 products, which are relatively long due to the strategic nature of such investments for customers, could further lengthen. <\/p>\n Tensions, particularly geopolitical, economic, financial or customs tensions, and the occurrence of crises could adversely impact the financial situation or financing and supply capabilities of Dassault\u00a0Syst\u00e8mes\u2019 existing and potential customers, commercial and technology partners, some of whom may be forced to temporarily close sites or to cease operations. Certain crises \u2013 health and geopolitical crises in particular \u2013 could also have consequences both for the health and safety of Dassault\u00a0Syst\u00e8mes\u2019 employees and for the Company. A deteriorating economic environment, such as deflationary pressure in Asia, could generate increased price pressure and affect the collection of receivables, which would negatively affect Dassault\u00a0 Syst\u00e8mes\u2019 revenue, financial performance and market position. Dassault\u00a0Syst\u00e8mes makes every effort to take into consideration this uncertain outlook. Dassault\u00a0Syst\u00e8mes\u2019 business results, however, may not develop as anticipated. Furthermore, due to factors affecting sales of Dassault\u00a0Syst\u00e8mes\u2019 products and services, there may be a substantial time lag between an improvement in global economic and business conditions and an upswing in the Company\u2019s business results.\u201d<\/p>\n In preparing such forward-looking statements, the Group has in particular assumed an average US dollar to euro exchange rate of US$1.18 per \u20ac1.00 as well as an average Japanese yen to euro exchange rate of JPY170.0 to \u20ac1.00, before hedging for the second quarter 2026. The Group has assumed an average US dollar to euro exchange rate of US$1.18 per \u20ac1.00 as well as an average Japanese yen to euro exchange rate of JPY173.4 to \u20ac1.00, before hedging for the full year 2026. However, currency values fluctuate, and the Group\u2019s results may be significantly affected by changes in exchange rates.\u00a0\u00a0\u00a0<\/p>\n Non-IFRS Financial Information<\/p>\n Readers are cautioned that the supplemental non-IFRS financial information presented in this press release is subject to inherent limitations. It is not based on any comprehensive set of accounting rules or principles and should not be considered in isolation from or as a substitute for IFRS measurements. The supplemental non-IFRS financial information should be read only in conjunction with the Company\u2019s consolidated financial statements prepared in accordance with IFRS. Furthermore, the Group\u2019s supplemental non-IFRS financial information may not be comparable to similarly titled \u201cnon-IFRS\u201d measures used by other companies. Specific limitations for individual non-IFRS measures are set forth in the Company\u2019s 2025 Universal Registration Document filed with the AMF on March 31, 2026.<\/p>\n In the tables accompanying this press release the Group sets forth its supplemental non-IFRS figures for revenue, operating income, operating margin, net income and diluted earnings per share, which exclude the effect of adjusting the carrying value of acquired companies\u2019 deferred revenue, share-based compensation expense and related social charges, the amortization of acquired intangible assets and of tangibles reevaluation, certain other operating income and expense, net, including impairment of goodwill and acquired intangibles, acquisition, integration, IT transformation projects and restructuring expenses, the effect of adjusting lease incentives of acquired companies, certain one-time items included in financial revenue and other, net, and the income tax effect of the non-IFRS adjustments and certain one-time tax effects. The tables also set forth the most comparable IFRS financial measure and reconciliations of this information with non-IFRS information.<\/p>\n FOR MORE INFORMATION<\/p>\n Dassault Syst\u00e8mes\u2019 3DEXPERIENCE platform, 3D design software, 3D Digital Mock Up and Product Lifecycle Management (PLM) solutions: http:\/\/www.3ds.com<\/a><\/p>\n ABOUT DASSAULT SYST\u00c8MES<\/p>\n Dassault Syst\u00e8mes is a catalyst for human progress. Since 1981, the company has pioneered virtual worlds to improve real life for consumers, patients and citizens. Through the 3DEXPERIENCE platform, AI-powered, science-based virtual twins help 390,000 customers of all sizes, in all industries, collaborate, imagine and create sustainable innovations that drive meaningful impact. Dassault Syst\u00e8mes Investor Relations Team\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0FTI Consulting<\/p>\n Marie Dumas\u00a0: +33 1 61 62 70 92\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Arnaud de Cheffontaines: +33 1 47 03 69 48<\/p>\n investors@3ds.com<\/a>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Jamie Ricketts\u00a0: +44 20 3727 1600<\/p>\n Dassault Syst\u00e8mes Press Contacts<\/p>\n Arnaud Malherbe \/ D\u00e9borah Cobbi<\/p>\n +33 (0)1 61 62 87 73 \/ 70 83<\/p>\n arnaud.malherbe@3ds.com<\/a> \/ deborah.cobbi@3ds.com<\/a><\/p>\n \u00a9 Dassault Syst\u00e8mes. All rights reserved. 3DEXPERIENCE, the 3DS logo, the Compass icon, IFWE, 3DVIA, BIOVIA, CATIA, CENTRIC, DELMIA, ENOVIA, GEOVIA, MEDIDATA, OUTSCALE, SIMULIA, SOLIDWORKS, NETVIBES and 3DEXCITE are commercial trademarks or registered trademarks of Dassault Syst\u00e8mes, a European company (Societas Europaea) incorporated under French law, and registered with the Versailles trade and companies registry under number 322 306 440, or its subsidiaries in the United States and\/or other countries. All other trademarks are owned by their respective owners. Use of any Dassault Syst\u00e8mes or its subsidiaries trademarks is subject to their express written approval.<\/p>\n APPENDIX TABLE OF CONTENTS<\/p>\n Due to rounding, numbers presented throughout this and other documents may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.\u00a0\u00a0\u00a0\u00a0<\/p>\n Glossary of Definitions<\/p>\n Non-IFRS Financial Information<\/p>\n Acquisitions and Foreign Exchange Impact<\/p>\n Condensed consolidated statements of income<\/p>\n Condensed consolidated balance sheet<\/p>\n Condensed consolidated cash flow statement<\/p>\n IFRS \u2013 non-IFRS reconciliation<\/p>\n DASSAULT SYST\u00c8MES – Glossary of Definitions<\/p>\n Information in Constant Currencies<\/p>\n Dassault\u00a0Syst\u00e8mes has followed a long-standing policy of measuring its revenue performance and setting its revenue objectives exclusive of currency in order to measure in a transparent manner the underlying level of improvement in its total revenue and software revenue by activity, industry, geography and product lines. The Group believes it is helpful to evaluate its growth exclusive of currency impacts, particularly to help understand revenue trends in its business. Therefore, the Group provides percentage increases or decreases in its revenue and expenses (in both IFRS and non-IFRS) to eliminate the effect of changes in currency values, particularly the U.S. dollar and the Japanese yen, relative to the euro. When trend information is expressed \u201cin constant currencies\u201d, the results of the \u201cprior\u201d period have first been recalculated using the average exchange rates of the comparable period in the current year, and then compared with the results of the comparable period in the current year.<\/p>\n While constant currency calculations are not considered to be an IFRS measure, the Group believes these measures are critical to understanding its global revenue results and to compare with many of its competitors who report their financial results in U.S. dollars. Therefore, Dassault\u00a0Syst\u00e8mes includes this calculation to compare IFRS and non-IFRS revenue figures for comparable periods. All information at constant currencies is expressed as a rounded percentage and therefore may not precisely reflect the absolute figures.<\/p>\n Information on Growth excluding acquisitions (\u201corganic growth\u201d)<\/p>\n In addition to financial indicators relating to the Group\u2019s entire scope, Dassault\u00a0Syst\u00e8mes also provides growth information excluding acquisitions\u2019 effects, and named organic growth. To do so, the Group\u2019s data is restated to exclude acquisitions, from the date of the transaction, over a period of 12\u00a0months.<\/p>\n Information on Industrial Sectors<\/p>\n Dassault\u00a0Syst\u00e8mes provides end-to-end software solutions and services: its 3D\u00a0UNIV+RSES – made of multiple Virtual Twin Experiences that are powered by artificial intelligence and developed on the 3DEXPERIENCE platform – combine modeling, simulation, data science, and collaborative innovation to support companies in the three sectors it serves, namely Manufacturing Industries, Life Sciences & Healthcare, and Infrastructure & Cities.<\/p>\n These three sectors comprise twelve industries:<\/p>\n Manufacturing Industries: Transportation & Mobility; Aerospace & Defense; Marine & Offshore; Industrial Equipment; High-Tech; Home & Lifestyle; Consumer Packaged Goods \u2013 Retail. In Manufacturing Industries, Dassault\u00a0Syst\u00e8mes helps customers virtualize their operations, improve data sharing and collaboration across their organization, reduce costs and time-to-market, and become more sustainable;Life Sciences & Healthcare: Life Sciences & Healthcare. In this sector, the Group aims to address the entire cycle of the patient journey to lead the way toward precision medicine. To reach the broader healthcare ecosystem from research to commercial, the Group\u2019s solutions connect all elements from molecule development to prevention to care, and combine new therapeutics, medical practices, and Medtech;Infrastructure & Cities: Infrastructure, Energy & Materials; Architecture, Engineering & Construction; Business Services; Cities & Public Services. In this sector, the Group supports the virtualization of infrastructure and cities in making its industries more efficient and sustainable, and creating desirable living environments. <\/p>\n Information on Product Lines<\/p>\n The Group\u2019s financial reporting on product lines includes the following information:<\/p>\n Industrial Innovation software revenue, which includes CATIA, ENOVIA, SIMULIA, DELMIA, GEOVIA, NETVIBES and 3DEXCITE brands;Life Sciences software revenue, which includes MEDIDATA and BIOVIA brands;Mainstream Innovation software revenue which includes its CENTRIC and 3DVIA brands, as well as the SOLIDWORKS brand and its expanded offerings in design, simulation, PLM, and manufacturing. <\/p>\n OUTSCALE has been a Dassault\u00a0Syst\u00e8mes brand since 2022, extending the portfolio of software applications. As the first sovereign and sustainable operator on the cloud, OUTSCALE enables governments and corporations from all sectors to achieve digital autonomy through a Cloud experience and with a world-class cyber governance.<\/p>\n GEOs<\/p>\n Eleven GEOs are responsible for driving the development of the Company\u2019s business and implementing its customer-centric engagement model. Teams leverage strong networks of local customers, users, partners, and influencers.<\/p>\n These GEOs are structured into three groups:<\/p>\n the \u201cAmericas\u201d group, made of two GEOs;the \u201cEurope\u201d group, comprising Europe, Middle East and Africa (EMEA) and made of four GEOs;the \u201cAsia\u201d group, comprising Asia and Oceania and made of five GEOs. <\/p>\n 3DEXPERIENCE Software Contribution<\/p>\n To measure the relative share of 3DEXPERIENCE software in its revenue, Dassault\u00a0Syst\u00e8mes calculates the percentage contribution by comparing total 3DEXPERIENCE software revenue to software revenue for all product lines except SOLIDWORKS, MEDIDATA, CENTRIC and other acquisitions (defined as \u201c3DEXPERIENCE Eligible software revenue\u201d).<\/p>\n Software license revenue<\/p>\n Software license revenue represents fees earned from granting customers licenses to use the softwares of Dassault Syst\u00e8mes. It includes license revenue of perpetual and periodic license sales of software products.<\/p>\n Subscription contracts generally have a term of between one and five years, and include on premise software license and support.<\/p>\n Subscription revenue also is derived from cloud contracts and hybrid on-premise and cloud contracts. Subscription revenue includes subscriptions renewals of on-premise licenses signed with hybrid on-premise and cloud deals.<\/p>\n Support revenue represents periodic fees associated with the sale of unspecified product updates on a when-and-if-\u200aavailable basis and technical support. Support agreements are entered into in connection with the initial software license purchase. Support may be renewed by the customer at the conclusion of each term.<\/p>\n Recurring fees for subscription and support are reported within \u201cSoftware Revenue\u201d.<\/p>\n Cloud revenue<\/p>\n Cloud revenue is generated from contracts that provide access to cloud-based solutions (SaaS), infrastructure as a service (IaaS), cloud solution development and cloud managed services. These offerings are delivered by Dassault\u00a0Syst\u00e8mes through its own cloud infrastructure or by third-party cloud providers. They are available through different deployment methods: dedicated cloud, sovereign cloud and international cloud. Cloud solutions are generally offered through subscription-based models or perpetual licenses with support and hosting services.<\/p>\n Annual Run Rate (ARR)<\/p>\n ARR is the annual value of all active subscription software, SaaS, hosting & support contracts as of the end of the reporting period.<\/p>\n The value of active contracts is annualized by dividing the total active contract value by the contract duration in days (end date minus start date), then multiplying the result by 360\u00a0days.The value of an active contract refers to contract value for which orders have been submitted.For contracts that include annual values that change over time, we include in ARR only the annual value of components of the contract that are considered active as of the date of the ARR calculation.A contract or a component of the contract is considered active only between the contractual start and end dates.For ramp contracts, only the portion where the customer has already submitted an order is included. Future ramped amounts are excluded until they are activated.For MEDIDATA \u201cStudy by Study\u201d contracts that are not contractually renewable, only the contractually committed portion is counted in the Group ARR.No assumptions are taken regarding future customer renewals or future committed increases. <\/p>\n ARR is composed of 2\u00a0elements: subscription annual run rate (SARR) and maintenance annual run rate (MARR).<\/p>\n We believe ARR is a valuable operating measure to assess the health of our recurring business because it is aligned with the amount that we invoice the customer on an annual basis. We generally invoice customers annually for the current year of the active contract.<\/p>\n ARR increases by the annual value of active contracts that commence in a reporting period and decreases by the annual value of contracts that expire in the reporting period.<\/p>\n ARR is not annual recurring revenue, and is therefore not affected by revenue recognition standards, including point in time revenue recognition of on-premise license subscriptions.<\/p>\n DASSAULT SYST\u00c8MES<\/p>\n NON-IFRS FINANCIAL INFORMATION<\/p>\n (unaudited; in millions of Euros, except per share data, percentages, headcount and exchange rates)<\/p>\n Non-IFRS key figures exclude the effects of adjusting the carrying value of acquired companies\u2019 contract liabilities (deferred revenue), share-based compensation expense, including related social charges, amortization of acquired intangible assets and of tangible assets revaluation, lease incentives of acquired companies, other operating income and expense, net, including the acquisition, integration, IT transformation projects and restructuring expenses, and impairment of goodwill and acquired intangible assets, certain one-time items included in financial loss, net, certain one-time tax effects and the income tax effects of these non-IFRS adjustments.<\/p>\n Comparable IFRS financial information and a reconciliation of the IFRS and non-IFRS measures are set forth in the separate tables within this Attachment.<\/p>\n In millions of Euros, except per share data, percentages, headcount and exchange ratesNon-IFRS reportedThree months endedMarch 31,<\/p>\n 2026<\/p>\n March 31,<\/p>\n 2025<\/p>\n ChangeChange in constant currenciesTotal Revenue\u20ac 1,509.6 \u20ac 1,573.0 (4)%3%\u00a0\u00a0\u00a0\u00a0\u00a0Revenue breakdown by activity\u00a0\u00a0\u00a0\u00a0Software revenue1,375.31,432.7(4)%3%Of which licenses and other software revenue200.0198.11%9%Of which subscription and support revenue1,175.31,234.6(5)%2%Services revenue134.3140.2(4)%3%\u00a0\u00a0\u00a0\u00a0\u00a0Software revenue breakdown by product line\u00a0\u00a0\u00a0\u00a0Industrial Innovation749.6793.1(5)%(0)%Life Sciences258.8292.6(12)%(3)%Mainstream Innovation366.9347.16%14%\u00a0\u00a0\u00a0\u00a0\u00a0Software Revenue breakdown by geography\u00a0\u00a0\u00a0\u00a0Americas546.8611.1(11)%(1)%Europe538.2513.25%7%Asia290.3308.4(6)%3%\u00a0\u00a0\u00a0\u00a0\u00a0Operating income\u20ac 457.0 \u20ac 486.1 (6)%\u00a0Operating margin30.3%30.9%\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Net income attributable to shareholders\u20ac 396.8 \u20ac 420.1 (6)%\u00a0Diluted earnings per share\u20ac 0.30 \u20ac 0.32 (6)%4%\u00a0\u00a0\u00a0\u00a0\u00a0Closing headcount25,724 26,225 (2)%\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Average Rate USD per Euro1.171.0511%\u00a0Average Rate JPY per Euro183.60160.4514%\u00a0 <\/p>\n DASSAULT SYST\u00c8MES<\/p>\n ACQUISITIONS AND FOREIGN EXCHANGE IMPACT<\/p>\n (unaudited; in millions of Euros)<\/p>\n In millions of EurosNon-IFRS reportedo\/w growth at constant rate and scopeo\/w change of scope impact at current year rateo\/w FX impact on previous year figuresMarch 31,<\/p>\n 2026<\/p>\n March 31,<\/p>\n 2025<\/p>\n ChangeRevenue QTD1,509.61,573.0(63.3)31.79.9(104.9) <\/p>\n DASSAULT SYST\u00c8MES<\/p>\n CONDENSED CONSOLIDATED STATEMENTS OF INCOME<\/p>\n (unaudited; in millions of Euros, except per share data and percentages)<\/p>\n In millions of Euros, except per share data and percentagesIFRS reportedThree months endedMarch 31,March 31,20262025Licenses and other software revenue200.0198.1Subscription and Support revenue1,174.91,234.6Software revenue1,374.91,432.7Services revenue134.3140.2Total Revenue\u20ac 1,509.2 \u20ac 1,573.0 Cost of software revenue (1)(114.6)(129.2)Cost of services revenue(126.5)(131.1)Research and development expenses(318.7)(348.6)Marketing and sales expenses(417.1)(446.5)General and administrative expenses(99.4)(120.4)Amortization of acquired intangible assets and of tangible assets revaluation(80.0)(88.3)Other operating income and expense, net(5.3)(4.4)Total Operating Expenses(1,161.7)(1,268.5)Operating Income \u20ac 347.5 \u20ac 304.5 Financial income (loss), net22.330.3Income before income taxes\u20ac 369.8 \u20ac 334.8 Income tax expense(77.3)(75.5)Net Income \u20ac 292.5 \u20ac 259.4 Non-controlling interest0.01.2Net Income attributable to equity holders of the parent\u20ac 292.5 \u20ac 260.5 Basic earnings per share0.220.20Diluted earnings per share \u20ac 0.22 \u20ac 0.20 Basic weighted average shares outstanding (in millions)1,319.01,312.3Diluted weighted average shares outstanding (in millions)1,331.71,332.2 <\/p>\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(1) Excluding amortization of acquired intangible assets and of tangible assets revaluation.<\/p>\n IFRS reported<\/p>\n \u00a0<\/p>\n Three months ended March 31, 2026Change (2)Change in constant currenciesTotal Revenue (4)%3%Revenue by activity\u00a0\u00a0Software revenue(4)%3%Services revenue(4)%3%Software Revenue by product line\u00a0\u00a0Industrial Innovation(5)%(0)%Life Sciences(12)%(3)%Mainstream Innovation6%14%Software Revenue by geography\u00a0\u00a0Americas(11)%(1)%Europe5%7%Asia(6)%3% <\/p>\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(2) Variation compared to the same period in the prior year.<\/p>\n DASSAULT SYST\u00c8MES<\/p>\n CONDENSED CONSOLIDATED BALANCE SHEET<\/p>\n (unaudited; in millions of Euros)<\/p>\n In millions of EurosIFRS reportedMarch 31,December 31,20262025ASSETS\u00a0\u00a0Cash and cash equivalents4,874.94,125.4Trade accounts receivable, net1,732.52,168.4Contract assets43.937.3Other current assets461.0454.4Total current assets7,112.2 6,785.5 Property and equipment, net955.0944.8Goodwill and Intangible assets, net6,917.86,868.8Other non-current assets482.0460.4Total non-current assets8,354.7 8,274.0 Total Assets\u20ac 15,467.0 \u20ac 15,059.4 LIABILITIES \u00a0\u00a0Trade accounts payable230.3253.0Contract liabilities1,704.01,536.0Borrowings, current1,333.31,449.5Other current liabilities912.8990.9Total current liabilities4,180.3 4,229.3 Borrowings, non-current1,146.11,145.8Other non-current liabilities908.3886.4Total non-current liabilities2,054.4 2,032.2 Non-controlling interests5.45.4Parent shareholders’ equity9,226.98,792.5Total Liabilities \u20ac 15,467.0 \u20ac 15,059.4 <\/p>\n DASSAULT SYST\u00c8MES<\/p>\n CONDENSED CONSOLIDATED CASH FLOW STATEMENT<\/p>\n (unaudited; in millions of Euros)<\/p>\n In millions of EurosIFRS reportedThree months endedMarch 31,March 31,Change20262025Net income attributable to equity holders of the parent292.5260.532.0Non-controlling interest(0.0)(1.2)1.1 Net income292.5259.433.2Depreciation of property and equipment52.350.51.9Amortization of intangible assets81.089.6(8.6)Adjustments for other non-cash items(8.0)16.1(24.1)Changes in working capital530.9397.4133.5Net Cash From Operating Activities\u20ac 948.8 \u20ac 813.0 \u20ac 135.8 \u00a0\u00a0\u00a0\u00a0Additions to property, equipment and intangibles assets(23.7)(55.9)32.2Payment for acquisition of businesses, net of cash acquired(11.3)(193.8)182.4Other(9.9)(37.8)27.8Net Cash Provided by (Used in) Investing Activities \u20ac (45.0)\u20ac (287.5)\u20ac 242.5 \u00a0\u00a0\u00a0\u00a0Proceeds from exercise of stock options1.122.2(21.1)Repurchase and sale of treasury stock(64.3)(80.1)15.8Capital increase0.0-0.0Acquisition of non-controlling interests-(0.2)0.2Repayment of borrowings(117.7)(58.9)(58.9)Repayment of lease liabilities(26.5)(22.6)(3.9)Net Cash Provided by (Used in) Financing Activities\u20ac (207.4)\u20ac (139.6)\u20ac (67.9)\u00a0\u00a0\u00a0\u00a0Effect of exchange rate changes on cash and cash equivalents53.1 (95.7)148.8 \u00a0\u00a0\u00a0\u00a0Increase (decrease) in cash and cash equivalents\u20ac 749.5 \u20ac 290.3 \u20ac 459.2 \u00a0\u00a0\u00a0\u00a0Cash and cash equivalents at beginning of period\u20ac 4,125.4 \u20ac 3,952.6 \u00a0Cash and cash equivalents at end of period\u20ac 4,874.9 \u20ac 4,242.9 \u00a0 <\/p>\n DASSAULT SYST\u00c8MES Readers are cautioned that the supplemental non-IFRS information presented in this press release is subject to inherent limitations. It is not based on any comprehensive set of accounting rules or principles and should not be considered as a substitute for IFRS measurements. Also, the Group\u2019s supplemental non-IFRS financial information may not be comparable to similarly titled \u201cnon-IFRS\u201d measures used by other companies. Further specific limitations for individual non-IFRS measures, and the reasons for presenting non-IFRS financial information, are set forth in the Group\u2019s Document d\u2019Enregistrement Universel for the year ended December 31, 2025 filed with the AMF on March 31, 2026. To compensate for these limitations, the supplemental non-IFRS financial information should be read not in isolation, but only in conjunction with the Group\u2019s consolidated financial statements prepared in accordance with IFRS.<\/p>\n In millions of Euros, except per share data and percentagesThree months ended March 31,Change2026Adjustment(1)20262025Adjustment(1)2025IFRSNon-IFRS(2)IFRSNon-IFRSIFRSNon-IFRSTotal Revenue\u20ac 1,509.2 \u20ac 0.4 \u20ac 1,509.6 \u20ac 1,573.0 -\u20ac 1,573.0 (4)%(4)%Revenue breakdown by activity\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Software revenue1,374.90.41,375.31,432.7-1,432.7(4)%(4)%Licenses and other software revenue200.0-200.0198.1-198.11%1%Subscription and Support revenue1,174.90.41,175.31,234.6-1,234.6(5)%(5)% Recurring portion of Software revenue85%\u00a085%86%\u00a086%\u00a0\u00a0Services revenue134.3-134.3140.2-140.2(4)%(4)%Software Revenue breakdown by product line\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Industrial Innovation749.6-749.6793.1-793.1(5)%(5)%Life Sciences258.8-258.8292.6-292.6(12)%(12)%Mainstream Innovation366.50.4366.9347.1-347.16%6%Software Revenue breakdown by geography\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Americas546.8-546.8611.1-611.1(11)%(11)%Europe537.80.4538.2513.2-513.25%5%Asia290.3-290.3308.4-308.4(6)%(6)%Total Operating Expenses\u20ac (1,161.7)\u20ac 109.0 \u20ac (1,052.7)\u20ac (1,268.5)\u20ac 181.6 \u20ac (1,086.9)(8)%(3)%Share-based compensation expense and related social charges(23.4)23.4-(88.5)88.5-\u00a0\u00a0Amortization of acquired intangible assets and of tangible assets revaluation(80.0)80.0-(88.3)88.3-\u00a0\u00a0Lease incentives of acquired companies(0.3)0.3-(0.4)0.4-\u00a0\u00a0Other operating income and expense, net(5.3)5.3-(4.4)4.4-\u00a0\u00a0Operating Income\u20ac 347.5 \u20ac 109.4 \u20ac 457.0 \u20ac 304.5 \u20ac 181.6 \u20ac 486.1 14%(6)%Operating Margin 23.0%\u00a030.3%19.4%\u00a030.9%\u00a0\u00a0Financial income (loss), net22.30.622.930.30.630.9(27)%(26)%Income tax expense(77.3)(5.7)(83.0)(75.5)(21.6)(97.1)2%(14)%Non-controlling interest0.0(0.1)(0.0)1.2(0.9)0.2(98)%(112)%Net Income attributable to shareholders\u20ac 292.5 \u20ac 104.3\u20ac 396.8 \u20ac 260.5 \u20ac 159.6\u20ac 420.1 12%(6)%Diluted Earnings Per Share (3)\u20ac 0.22 \u20ac 0.08 \u20ac 0.30 \u20ac 0.20 \u20ac 0.12 \u20ac 0.32 12%(6)% <\/p>\n (1) In the reconciliation schedule above, (i) all adjustments to IFRS revenue data reflect the exclusion of the deferred revenue adjustment of acquired companies; (ii) adjustments to IFRS operating expense data reflect the exclusion of the amortization of acquired intangibles assets and of tangible assets revaluation, share-based compensation expense, and related social charges, the effect of adjusting the lease incentives of acquired companies, as detailed below, and other operating income and expense, net including acquisition, integration, IT transformation projects and restructuring expenses, and impairment of goodwill and acquired intangible assets; (iii) adjustments to IFRS financial income, net reflect the exclusion of certain one-time items, net, and; (iv) all adjustments to IFRS net income data reflect the combined effect of these adjustments, and with respect to net income and diluted net income per share, certain one-time tax effects and the income tax effect of the non-IFRS adjustments.<\/p>\n In millions of Euros, except percentagesThree months ended March 31,Change2026<\/p>\n IFRS<\/p>\n Share-based compensation expense and related social chargesLease incentives of acquired companies2026<\/p>\n Non-IFRS<\/p>\n 2025<\/p>\n IFRS<\/p>\n Share-based compensation expense and related social chargesLease incentives of acquired companies2025<\/p>\n Non-IFRS<\/p>\n IFRSNon-<\/p>\n IFRS<\/p>\n Cost of revenue(241.2)1.00.1(240.0)(260.3)4.90.1(255.2)(7)%(6)%Research and development expenses(318.7)8.40.1(310.2)(348.6)32.50.1(316.0)(9)%(2)%Marketing and sales expenses(417.1)5.60.1(411.4)(446.5)24.50.1(421.9)(7)%(2)%General and administrative expenses(99.4)8.30.0(91.1)(120.4)26.60.0(93.8)(17)%(3)%Total\u00a0\u20ac 23.4\u20ac 0.3\u00a0\u00a0\u20ac 88.5\u20ac 0.4\u00a0\u00a0\u00a0 <\/p>\n (2) The non-IFRS percentage increase (decrease) compares non-IFRS measures for the two different periods. In the event there is non-IFRS adjustment to the relevant measure for only one of the periods under comparison, the non-IFRS increase (decrease) compares the non-IFRS measure to the relevant IFRS measure. 1 IFRS figures for 1Q26: Total revenue of \u20ac1.51 billion, operating margin of 23.0% compared to 19.4% in 1Q25, and diluted EPS of \u20ac0.22 compared to \u20ac0.20 in 1Q25<\/p>\n 2 At FY26 plan currency rates<\/p>\n 3 FY26 Plan foreign exchange rates used for all periods ($1.18 per euro and JPY 170.0 per euro)<\/p>\n
all growth rates in constant currencies)<\/p>\n
except per share data and percentages\u00a0IFRS \u00a0Non-IFRS\u00a0Q1 2026Q1 2025ChangeChange in constant currencies\u00a0Q1 2026Q1 2025ChangeChange in constant currenciesTotal Revenue\u00a01,509.21,573.0(4)%3%\u00a01,509.61,573.0(4%)3%Software Revenue\u00a01,374.91,432.7(4)%3%\u00a01,375.31,432.7(4%)3%Operating Margin\u00a023.0%19.4%+3.7pts\u00a0\u00a030.3%30.9%(0.6)pt\u00a0Diluted EPS\u00a00.220.2012%\u00a0\u00a00.300.32(6)%4% <\/p>\n
all revenue growth rates in constant currencies)<\/p>\n
For more information, visit www.3ds.com<\/a>.<\/p>\n
SUPPLEMENTAL NON-IFRS FINANCIAL INFORMATION
IFRS \u2013 NON-IFRS RECONCILIATION
(unaudited; in millions of Euros, except per share data and percentages)<\/p>\n
(3) Based on a weighted average 1,331.7 million diluted shares for Q1 2026 and 1,332.2 million diluted shares for Q1 2025, and, for IFRS only, a diluted net income attributable to the shareholders of \u20ac 292.5 million for Q1 2026 (\u20ac 260.5 million for Q1 2025). The Diluted net income attributable to equity holders of the Group corresponds to the Net Income attributable to equity holders of the Group adjusted by the impact of the share-based compensation plans to be settled either in cash or in shares at the option of the Group.<\/p>\n
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