VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

reAlpha Tech Corp. vs Bentley Systems, Incorporated

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

reAlpha Tech Corp.

AIRE · Nasdaq Capital Market

Market cap (USD)$24.8M
Gross margin (TTM)54.3%
Operating margin (TTM)-346%
Net margin (TTM)-813.9%
SectorReal Estate
IndustryReal Estate - Services
CountryUS
Data as of2026-01-02
Moat score
42/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into reAlpha Tech Corp.'s moat claims, evidence, and risks.

View AIRE analysis

Bentley Systems, Incorporated

BSY · NASDAQ

Market cap (USD)$12.5B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorTechnology
Industry
CountryUS
Data as of2026-01-10
Moat score
64/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Bentley Systems, Incorporated's moat claims, evidence, and risks.

View BSY analysis

Comparison highlights

  • Moat score gap: Bentley Systems, Incorporated leads (64 / 100 vs 42 / 100 for reAlpha Tech Corp.).
  • Segment focus: reAlpha Tech Corp. has 2 segments (83.5% in Homebuying Platform & Transaction Services); Bentley Systems, Incorporated has 4 segments.
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Weak vs Moderate.
  • Moat breadth: reAlpha Tech Corp. has 4 moat types across 2 domains; Bentley Systems, Incorporated has 7 across 2.

Primary market context

reAlpha Tech Corp.

Homebuying Platform & Transaction Services

Market

Integrated U.S. residential real estate transaction services platform (brokerage + mortgage + title)

Geography

United States

Customer

Homebuyers

Role

Transaction intermediary / service provider

Revenue share

83.5%

Bentley Systems, Incorporated

Engineering Applications (Bentley Open)

Market

Infrastructure engineering design and simulation software (CAD/BIM for civil, rail, water, plants, and facilities)

Geography

Global

Customer

Engineering and construction firms; public and private infrastructure owner-operators

Role

Engineering authoring + analysis software vendor

Side-by-side metrics

reAlpha Tech Corp.
Bentley Systems, Incorporated
Ticker / Exchange
AIRE - Nasdaq Capital Market
BSY - NASDAQ
Market cap (USD)
$24.8M
$12.5B
Gross margin (TTM)
54.3%
n/a
Operating margin (TTM)
-346%
n/a
Net margin (TTM)
-813.9%
n/a
Sector
Real Estate
Technology
Industry
Real Estate - Services
n/a
HQ country
US
US
Primary segment
Homebuying Platform & Transaction Services
Engineering Applications (Bentley Open)
Market structure
Competitive
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Weak
Moderate
Moat score
42 / 100
64 / 100
Moat domains
Demand, Legal
Demand, Network
Last update
2026-01-02
2026-01-10

Moat coverage

Shared moat types

Suite BundlingData Workflow Lockin

reAlpha Tech Corp. strengths

Compliance AdvantageSwitching Costs General

Bentley Systems, Incorporated strengths

Training Org Change CostsInteroperability HubProcurement InertiaDe Facto StandardEcosystem Complements

Segment mix

reAlpha Tech Corp. segments

Full profile >

Homebuying Platform & Transaction Services

Competitive

83.5%

AiChat Conversational AI SaaS

Competitive

16.5%

Bentley Systems, Incorporated segments

Full profile >

Engineering Applications (Bentley Open)

Oligopoly

n/a

Geoprofessional Applications (Seequent)

Oligopoly

n/a

Bentley Infrastructure Cloud (ProjectWise, SYNCHRO, AssetWise)

Oligopoly

n/a

Digital Twin Platform & Asset Analytics (Cesium, iTwin, Asset Analytics)

Competitive

n/a

Want the full wide moat stocks list?

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Proven models entering the expansion stage with unit economics that work.

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Curation & Accuracy

This directory blends AI‑assisted discovery with human curation. Entries are reviewed, edited, and organized with the goal of expanding coverage and sharpening quality over time. Your feedback helps steer improvements (because no single human can capture everything all at once).

Details change. Pricing, features, and availability may be incomplete or out of date. Treat listings as a starting point and verify on the provider’s site before making decisions. If you spot an error or a gap, send a quick note and I’ll adjust.