0000929940-21-000060 | 10-K | XBRL Viewer

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Cover Page - USD ($)	12 Months Ended
Cover Page - USD ($)	Jun. 30, 2021	Aug. 11, 2021	Dec. 31, 2020
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Jun. 30, 2021
Current Fiscal Year End Date	--06-30
Document Transition Report	false
Entity File Number	001-34630
Entity Registrant Name	Aspen Technology, Inc
Entity Central Index Key	0000929940
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	04-2739697
Entity Address, Address Line One	20 Crosby Drive
Entity Address, City or Town	Bedford
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01730
City Area Code	781
Local Phone Number	221-6400
Title of 12(b) Security	Common stock, $0.10 par value per share
Trading Symbol	AZPN
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 8,795,495,299
Common stock held by non-affiliates			67,527,795
Entity Common Stock, Shares Outstanding		67,076,892
Share Price			$ 130.25
Documents Incorporated by Reference [Text Block]	Portions of the registrant's Proxy Statement related to the registrant's 2021 Annual Meeting of Stockholders to be filed with the Securities and Exchange Commission pursuant to Regulation 14A not later than 120 days after the end of the fiscal year covered by this Form 10-K are incorporated by reference in Part III, Items 10-14 of this Form 10-K.

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Revenue:
Total Revenue	$ 197,961	$ 162,726	$ 233,718	$ 114,971	$ 201,940	$ 130,588	$ 126,012	$ 140,177	$ 709,376	$ 598,717	$ 596,682
Cost of revenue:
Total cost of revenue									60,151	61,607	57,816
Gross profit	183,646	146,671	219,403	99,505	186,782	114,883	110,486	124,959	649,225	537,110	538,866
Operating expenses:
Selling and marketing									114,959	114,486	111,374
Research and development									94,229	92,230	83,122
General and administrative									81,636	73,035	63,231
Total operating expenses									290,824	279,751	257,727
Income from operations	105,879	68,899	149,453	34,170	116,296	44,734	42,939	53,390	358,401	257,359	281,139
Interest income									36,791	32,658	28,457
Interest (expense)									(7,245)	(11,862)	(8,733)
Other (expense) income, net									(3,200)	1,202	664
Income before income taxes									384,747	279,357	301,527
Provision for income taxes									64,944	49,686	40,165
Net income	$ 95,445	$ 62,495	$ 129,152	$ 32,711	$ 94,530	$ 41,826	$ 39,801	$ 53,514	$ 319,803	$ 229,671	$ 261,362
Net income per common share:
Basic (in dollars per share)	$ 1.40	$ 0.92	$ 1.91	$ 0.48	$ 1.40	$ 0.62	$ 0.58	$ 0.78	$ 4.71	$ 3.38	$ 3.74
Diluted (in dollars per share)	$ 1.39	$ 0.91	$ 1.89	$ 0.48	$ 1.39	$ 0.61	$ 0.58	$ 0.77	$ 4.67	$ 3.34	$ 3.69
Weighted average shares outstanding:
Basic (in shares)	68,028	67,920	67,780	67,729	67,634	67,806	68,114	68,441	67,863	68,000	69,925
Diluted (in shares)	68,612	68,608	68,400	68,299	68,176	68,482	68,844	69,317	68,492	68,727	70,787
License [Member]
Revenue:
Total Revenue									$ 497,479	$ 388,180	$ 404,581
Cost of revenue:
Total cost of revenue									9,276	7,241	7,060
Maintenance
Revenue:
Total Revenue									185,164	178,139	163,567
Cost of revenue:
Total cost of revenue									18,287	19,248	19,208
Services and other
Revenue:
Total Revenue									26,733	32,398	28,534
Cost of revenue:
Total cost of revenue									$ 32,588	$ 35,118	$ 31,548

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Net income	$ 319,803	$ 229,671	$ 261,362
Other comprehensive income (loss):
Foreign currency translation adjustments	14,314	(5,624)	(1,052)
Total other comprehensive income (loss)	14,314	(5,624)	(1,052)
Comprehensive income	$ 334,117	$ 224,047	$ 260,310

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Current assets:
Cash and cash equivalents	$ 379,853	$ 287,796
Accounts receivable, net	52,502	56,301
Current contract assets	308,607	291,497
Prepaid expenses and other current assets	12,716	10,884
Prepaid income taxes	14,639	3,962
Total current assets	768,317	650,440
Property, equipment and leasehold improvements, net	5,610	5,963
Computer software development costs, net	1,461	928
Goodwill	159,852	137,055
Intangible assets, net	44,327	42,851
Non-current contract assets	407,180	318,976
Contract costs	29,056	28,614
Operating lease right-of-use assets	32,539	34,905
Deferred tax assets	2,121	1,735
Other non-current assets	3,537	1,839
Total assets	1,454,000	1,223,306
Current liabilities:
Accounts payable	4,367	3,988
Accrued expenses and other current liabilities	50,575	43,556
Current operating lease liabilities	6,751	6,824
Income taxes payable	3,444	1,799
Current borrowings	20,000	135,163
Current deferred revenue	56,393	43,168
Total current liabilities	141,530	234,498
Non-current deferred revenue	11,732	13,913
Deferred income taxes	193,360	179,978
Non-current operating lease liabilities	29,699	33,088
Non-current borrowings, net	273,162	292,369
Other non-current liabilities	3,760	3,107
Commitments and contingencies (Note 17)
Series D redeemable convertible preferred stock, $0.10 par value—Authorized—3,636 shares as of June 30, 2021 and 2020 Issued and outstanding—none as of June 30, 2021 and 2020	0	0
Stockholders' equity:
Common stock, $0.10 par value—Authorized—210,000,000 shares Issued— 104,543,414 shares at June 30, 2021 and 103,988,707 shares at June 30, 2020 Outstanding— 67,912,160 shares at June 30, 2021 and 67,718,692 shares at June 30, 2020	10,455	10,399
Additional paid-in capital	819,642	769,411
Retained earnings	1,778,133	1,458,330
Accumulated other comprehensive income (loss)	9,026	(5,288)
Treasury stock, at cost— 36,631,254 shares of common stock at June 30, 2021 and 36,270,015 shares at June 30, 2020	(1,816,499)	(1,766,499)
Total stockholders' equity	800,757	466,353
Total liabilities and stockholders' equity	$ 1,454,000	$ 1,223,306

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2021	Jun. 30, 2020
Statement of Financial Position [Abstract]
Series D redeemable convertible preferred stock, par value (in dollars per share)	$ 0.10	$ 0.10
Series D redeemable convertible preferred stock, authorized	3,636	3,636
Series D redeemable convertible preferred stock, issued	0	0
Series D redeemable convertible preferred stock, outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, authorized	210,000,000	210,000,000
Common stock, issued	104,543,414	103,988,707
Common stock, outstanding	67,912,160	67,718,692
Treasury stock, shares	36,631,254	36,270,015

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock
Balance at Jun. 30, 2018	$ 377,974	$ 10,313	$ 715,475	$ 967,297	$ 1,388	$ (1,316,499)
Balance (in shares) at Jun. 30, 2018		103,130,300				31,943,599
Comprehensive income (loss):
Net income	261,362
Other comprehensive loss	(1,052)				(1,052)
Exercise of stock options	10,830	$ 27	10,803
Exercise of stock options (in shares)		266,014
Issuance of restricted stock units and net share settlement related to withholding taxes	(14,727)	$ 25	(14,752)
Issuance of restricted stock units and net share settlement related to withholding taxes (in shares)		245,978
Repurchase of common stock	$ (300,000)					$ (300,000)
Repurchase of common stock (in shares)	3,074,127					3,074,127
Stock-based compensation	$ 27,573		27,573
Balance at Jun. 30, 2019	361,960	$ 10,365	739,099	1,228,659	336	$ (1,616,499)
Balance (in shares) at Jun. 30, 2019		103,642,292				35,017,726
Comprehensive income (loss):
Net income	229,671
Other comprehensive loss	(5,624)				(5,624)
Exercise of stock options	8,938	$ 17	8,921
Exercise of stock options (in shares)		173,390
Issuance of restricted stock units and net share settlement related to withholding taxes	(10,140)	$ 17	(10,157)
Issuance of restricted stock units and net share settlement related to withholding taxes (in shares)		173,025
Repurchase of common stock	$ (150,000)					$ (150,000)
Repurchase of common stock (in shares)	1,252,289					1,252,289
Stock-based compensation	$ 31,548		31,548
Balance at Jun. 30, 2020	$ 466,353	$ 10,399	769,411	1,458,330	(5,288)	$ (1,766,499)
Balance (in shares) at Jun. 30, 2020	103,988,707	103,988,707				36,270,015
Retained earnings	$ 1,458,330
Comprehensive income (loss):
Net income	319,803
Other comprehensive loss	14,314				14,314
Exercise of stock options	25,844	$ 42	25,802
Exercise of stock options (in shares)		424,040
Issuance of restricted stock units and net share settlement related to withholding taxes	(9,201)	$ 14	(9,215)
Issuance of restricted stock units and net share settlement related to withholding taxes (in shares)		130,667
Repurchase of common stock	$ (50,000)					$ (50,000)
Repurchase of common stock (in shares)	361,239					361,239
Stock-based compensation	$ 33,644		33,644
Balance at Jun. 30, 2021	$ 800,757	$ 10,455	$ 819,642	$ 1,778,133	$ 9,026	$ (1,816,499)
Balance (in shares) at Jun. 30, 2021	104,543,414	104,543,414				36,631,254
Retained earnings	$ 1,778,133

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities:
Net income	$ 319,803	$ 229,671	$ 261,362
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	10,257	9,550	8,143
Reduction in the carrying amount of right-of-use assets	8,927	9,094	0
Net foreign currency losses (gains)	3,410	(945)	(1,251)
Stock-based compensation	33,644	31,548	27,573
Deferred income taxes	12,255	28,101	(27,129)
Provision for bad debts	9,716	5,255	645
Other non-cash operating activities	921	625	429
Changes in assets and liabilities:
Accounts receivable	(2,132)	(12,875)	(6,626)
Contract assets	(113,737)	(28,084)	(57,660)
Contract costs	(438)	(3,570)	(4,482)
Lease liabilities	(10,182)	(9,508)	0
Prepaid expenses, prepaid income taxes, and other assets	(12,842)	(5,288)	(2,411)
Accounts payable, accrued expenses, income taxes payable and other liabilities	(59)	(23,360)	21,921
Deferred revenue	16,591	13,044	17,799
Net cash provided by operating activities	276,134	243,258	238,313
Cash flows from investing activities:
Purchase of property, equipment and leasehold improvements	(1,237)	(1,278)	(436)
Payments for business acquisitions, net of cash acquired	(16,272)	(74,460)	(6,098)
Payments for equity method investments	(1,143)	(324)	0
Payments for capitalized computer software costs	(1,129)	(141)	(1,131)
Net cash used in investing activities	(19,781)	(76,203)	(7,665)
Cash flows from financing activities:
Issuance of shares of common stock	26,096	9,004	10,864
Repurchases of common stock	(45,647)	(152,432)	(299,214)
Payment of tax withholding obligations related to restricted stock	(9,172)	(10,167)	(14,477)
Deferred business acquisition payments	(1,229)	(4,600)	(1,700)
Proceeds from borrowings	0	574,163	50,000
Repayments of amounts borrowed	(135,182)	(363,000)	0
Payments of debt issuance costs	0	(3,533)	0
Net cash (used in) provided by financing activities	(165,134)	49,435	(254,527)
Effect of exchange rate changes on cash and cash equivalents	838	(620)	(360)
Increase (decrease) in cash and cash equivalents	92,057	215,870	(24,239)
Cash and cash equivalents, beginning of year	287,796	71,926	96,165
Cash and cash equivalents, end of year	379,853	287,796	71,926
Supplemental disclosure of cash flow information:
Income taxes paid, net	61,410	39,533	53,153
Interest paid	6,403	12,444	8,121
Supplemental disclosure of non-cash activities:
Change in purchases of property, equipment and leasehold improvements included in accounts payable and accrued expenses	112	(99)	104
Change in repurchases of common stock included in accounts payable and accrued expenses	4,353	(2,432)	786
Lease liabilities arising from obtaining right-of-use assets	$ 3,500	$ 14,013	$ 0

Operations	12 Months Ended
Operations	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Operations	(1) Operations Aspen Technology, Inc., together with its subsidiaries, is a global leader in asset optimization software that optimizes asset design, operations and maintenance in complex, industrial environments. Our aspenONE software and related services have been developed specifically for companies engaged in the process and other capital-intensive industries such as energy, chemicals, engineering and construction, as well as pharmaceuticals, food and beverage, transportation, power, metals and mining, pulp and paper, and consumer packaged goods. Customers use our solutions to improve their competitiveness and profitability by; increasing throughput, energy efficiency, and production levels; reducing unplanned downtime, plant emissions, and safety risks; enhancing capital efficiency; and decreasing working capital requirements over the entire asset lifecycle to support operational excellence. We operate globally in 35 countries as of June 30, 2021.

Significant Accounting Policies	12 Months Ended
Significant Accounting Policies	Jun. 30, 2021
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies (a) Principles of Consolidation The accompanying consolidated financial statements include the accounts of Aspen Technology, Inc. and our wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. (b) Management Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. (c) Cash and Cash Equivalents Cash and cash equivalents consist of short-term money market instruments. (d) Computer Software Development Costs Certain computer software development costs are capitalized in the accompanying consolidated balance sheets. Capitalization of computer software development costs begins upon establishing technological feasibility defined as meeting specifications determined by the program design. Amortization of capitalized computer software development costs is provided on a product-by-product basis using the greater of (a) the amount computed using the ratio that current gross revenue for a product bears to total of current and anticipated future gross revenue for that product or (b) the straight-line method, beginning upon commercial release of the product, and continuing over the remaining estimated economic life of the product, not to exceed three years. Total computer software costs capitalized were $1.2 million, $0.2 million and $1.1 million during the years ended June 30, 2021, 2020 and 2019, respectively. Total amortization expense charged to operations was approximately $0.7 million, $0.6 million and $0.5 million for the years ended June 30, 2021, 2020 and 2019, respectively. Computer software development accumulated amortization totaled $76.4 million and $75.7 million as of June 30, 2021 and 2020, respectively. Weighted average remaining useful life of computer software development costs was 2.1 years and 2.0 years at June 30, 2021 and 2020, respectively. At each balance sheet date, we evaluate the unamortized capitalized software costs for potential impairment by comparing the balance to the net realizable value of the products. During the years ended June 30, 2021, 2020 and 2019, our computer software development costs were not considered impaired and as such, we did not recognize impairment losses during the periods then ended. (e) Foreign Currency Translation The determination of the functional currency of subsidiaries is based on the subsidiaries' financial and operational environment. Gains and losses from foreign currency translation related to entities whose functional currency is not our reporting currency are credited or charged to accumulated other comprehensive income included in stockholders' equity in the consolidated balance sheets. In all instances, foreign currency transaction and remeasurement gains or losses are credited or charged to the consolidated statements of operations as incurred as a component of other income (expense), net. There was a net foreign currency transaction and remeasurement losses of $3.4 million in fiscal 2021 and gains were $(0.9) million and $(0.7) million in fiscal 2020 and 2019, respectively. (f) Concentration of Credit Risk Financial instruments that potentially subject us to concentrations of credit risk are principally cash and cash equivalents, contract assets, and accounts receivable. Our cash is held in financial institutions and our cash equivalents are invested in money market mutual funds that we believe to be of high credit quality. Concentration of credit risk with respect to contract assets and receivables is limited to certain customers to which we make substantial sales. To reduce risk, we assess the financial strength of our customers. We do not require collateral or other security in support of our contact assets and receivables. As of June 30, 2021 and 2020, we had no customer receivable balance that represented approximately 10% or more of our total receivables. (g) Computer Software Developed for Internal Use and Long-Lived Assets Computer Software Developed for Internal Use: Computer software developed for internal use is capitalized in accordance with ASC Topic 350-40, Intangibles Goodwill and Other—Internal Use Software. We capitalize costs incurred to develop internal-use software during the application development stage after determining software technological requirements and obtaining management approval for funding projects probable of completion. In fiscal 2021, 2020 and 2019, there were no capitalized direct labor costs associated with our development of software for internal use. Impairment of Long-Lived Assets: We evaluate our long-lived assets, which include finite-lived intangible assets, property and leasehold improvements for impairment as events and circumstances indicate that the carrying amount of an asset or a group of assets may not be recoverable. We assess the recoverability of the asset or a group of assets based on the undiscounted future cash flows the asset is expected to generate, and recognize an impairment loss when estimated undiscounted future cash flows expected to result from the use of the asset are less than its carrying value. If an asset or a group of assets are deemed to be impaired, the amount of the impairment loss, if any, represents the excess of the asset's or a group of assets' carrying value compared to their estimated fair values. (h) Comprehensive Income (loss) Comprehensive income (loss) is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. Comprehensive income (loss) and its components for fiscal 2021, 2020 and 2019 are disclosed in the accompanying consolidated statements of comprehensive income (loss). As of June 30, 2021 and 2020, accumulated other comprehensive income (loss) is comprised of foreign translation adjustments of $14.3 million and $(5.6) million, respectively. (i) Accounting for Stock-Based Compensation Substantially all stock-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as expense over the requisite service period. (j) Income Taxes Deferred income taxes are recognized based on temporary differences between the financial statement and tax bases of assets and liabilities. Deferred tax assets and liabilities are measured using the statutory tax rates and laws expected to apply to taxable income in the years in which the temporary differences are expected to reverse. Valuation allowances are provided against net deferred tax assets if, based upon the available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income and the timing of the temporary differences becoming deductible. Management considers, among other available information, scheduled reversals of deferred tax liabilities, projected future taxable income, limitations of availability of net operating loss carryforwards, and other matters in making this assessment. We do not provide deferred taxes on unremitted earnings of foreign subsidiaries since we intend to indefinitely reinvest either currently or sometime in the foreseeable future. Unrecognized provisions for taxes on undistributed earnings of foreign subsidiaries, which are considered indefinitely reinvested, are not material to our consolidated financial position or results of operations. We are continuously subject to examination by the Internal Revenue Service (the "IRS"), as well as various state and foreign jurisdictions. The IRS and other taxing authorities may challenge certain deductions and credits reported by us on our income tax returns. In accordance with provisions of ASC Topic 740, Income Taxes (ASC 740), an entity should recognize a tax benefit when it is more-likely-than-not, based on the technical merits, that the position would be sustained upon examination by a taxing authority. The amount to be recognized, if the more-likely-than-not threshold was passed, should be measured as the largest amount of tax benefit that is greater than 50 percent likely of being realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. Furthermore, any change in the recognition, de-recognition or measurement of a tax position should be recorded in the period in which the change occurs. We account for interest and penalties related to uncertain tax positions as part of the provision for income taxes. (k) Loss Contingencies We accrue estimated liabilities for loss contingencies arising from claims, assessments, litigation and other sources when it is probable that a liability has been incurred and the amount of the claim assessment or damages can be reasonably estimated. We believe that we have sufficient accruals to cover any obligations resulting from claims, assessments or litigation that have met these criteria. (l) Advertising Costs Advertising costs are expensed as incurred and are classified as sales and marketing expenses. We incurred advertising expenses of $6.2 million, $3.5 million and $4.4 million during fiscal 2021, 2020 and 2019, respectively. (m) Research and Development Expense We charge research and development expenditures to expense as the costs are incurred. Research and development expenses consist primarily of personnel expenses related to the creation of new products, enhancements and engineering changes to existing products and costs of acquired technology prior to establishing technological feasibility. (n) Equity Method Investments During fiscal 2020, we entered into a limited partnership investment fund agreement. The primary objective of this partnership is investing in equity and equity-related securities (including convertible debt) of venture growth- stage businesses. We account for the investment in accordance with Topic 323, Investments - Equity Method and Joint Ventures. Our total commitment under this partnership is 5.0 million CAD ($3.5 million). Under the conditions of the equity method investment, unfavorable future changes in market conditions could lead to a potential loss up to the full value of our 5.0 million CAD ($3.5 million) commitment. As of June 30, 2021, the fair value of this investment is 1.8 million CAD ($1.3 million), representing our payments towards the total commitment during fiscal 2021, and is recorded in non-current assets in our consolidated balance sheet. (o) New Accounting Pronouncements Adopted in Fiscal 2021 and 2020 In February 2016, the FASB issued Accounting Standards Update ("ASU") No. 2016-02, Leases ("Topic 842"). Under the amendment, lessees are required to recognize virtually all of their leases on the balance sheet, by recording a right-of-use asset and lease liability. The ASU is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2018. We adopted Topic 842 effective July 1, 2019 using the effective date method with a modified retrospective transition approach. Results for reporting periods beginning on or after July 1, 2019 are presented under Topic 842, while prior period amounts were not adjusted and continue to be reported in accordance with the Company’s historic accounting under Topic 840 “Leases.” We elected the package of practical expedients permitted under the transition guidance within the new standard, which allowed the carry forward of historical assessments of whether a contract contains a lease, lease classification and initial direct costs. The most significant impact of the adoption of Topic 842 was the recognition of operating lease right-of-use assets of $28.5 million and current and non-current operating lease liabilities of $7.4 million and $26.5 million, respectively, and the reversal of deferred rent of $6.5 million as of July 1, 2019. The adoption of Topic 842 did not have a material impact on our operating results or cash flows, and there was no impact on our debt covenants. See Note 4, "Leases," to our Consolidated Financial Statements for more information on the impact of adopting Topic 842. In June 2016, the FASB issued Topic 326. The amendment changes the impairment model for most financial assets and certain other instruments. Under Topic 326, entities are required to use a model that will result in the earlier recognition of allowances for losses for trade and other receivables, contract assets, held-to-maturity debt securities, loans, and other instruments. Topic 326 is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2019.We adopted Topic 326 effective July 1, 2020 using the effective date method with a modified retrospective transition approach. The adoption of Topic 326 did not have a material impact on our balance sheet, operating results or cash flows, and there was no impact on our debt covenants. In March 2020, the FASB issued ASU 2020-04, Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“Topic 848”). ASU 2020-04 provides practical expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The expedients and exceptions provided by ASU 2020-04 apply only to contracts, hedging relationships, and other transactions that reference the London Interbank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued as a result of reference rate reform. These amendments are not applicable to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022. ASU No. 2020-04 is effective as of March 12, 2020 through December 31, 2022, and may be applied to contract modifications and hedging relationships from the beginning of an interim period that includes or is subsequent to March 12, 2020. We adopted ASU 2020-04 effective July 1, 2020. The adoption of ASU No. 2020-04 did not have a material impact on our operating results or cash flows, and there was no impact on our debt covenants. (p) Recently Issued Accounting Pronouncements In December 2019, the FASB issued ASU No. 2019-12, Income Taxes ("Topic 740") - Simplifying the Accounting for Income Taxes. ASU 2019-12 is intended to simplify accounting for income taxes. It removes certain exceptions to the general principles in Topic 740 and amends existing guidance to improve consistent application. ASU 2019-12 is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2020. Early adoption is permitted. We are currently evaluating the impact of ASU 2019-12 on our consolidated financial statements.

Revenue from Contracts with Customers (Notes)

12 Months Ended

Jun. 30, 2021

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer [Text Block]

Revenue from Contracts with Customers

In accordance with Topic 606, we account for a customer contract when both parties have approved the contract and are committed to perform their respective obligations, each party’s rights can be identified, payment terms can be identified, the contract has commercial substance, and it is probable that we will collect substantially all of the consideration to which we are entitled. Revenue is recognized when, or as, performance obligations are satisfied by transferring control of a promised product or service to a customer.

Nature of Products and Services

We generate revenue from the following sources: (1) License revenue; (2) Maintenance revenue; and (3) Services and other revenue. We sell our software products to end users primarily under fixed-term licenses. We license our software products primarily through a subscription offering which we refer to as our aspenONE licensing model, which includes software maintenance and support, known as our Premier Plus SMS offering, for the entire term. Our aspenONE products are organized into three suites: 1) engineering; 2) manufacturing and supply chain; and 3) asset performance management. Each product suite leverages our artificial intelligence of things products as the foundation of industrial data. Our asset performance management product suite is licensed by customer sites, user seats or cloud connections. The engineering and manufacturing and supply chain product suites are licensed by tokens, which are interchangeable measures of usage based on the various units of measure such as users, servers, applications, manipulated variables, etc. Customers may use tokens flexibly to access any product or combination of products in the licensed suite.

We also license our software through point product term arrangements, which include our Premier Plus SMS offering for the entire term.

We determine revenue recognition through the following steps:

• Identification of the contract, or contracts, with a customer;

• Identification of the performance obligations in the contract;

• Determination of the transaction price;

• Allocation of the transaction price to the performance obligations in the contract; and

• Recognition of revenue when, or as, we satisfy a performance obligation.

Term-based Arrangements: Term-based arrangements consist of on-premise term licenses as well as maintenance.

License

License revenue consists primarily of product and related revenue from our aspenONE licensing model and point product arrangements.

When a customer elects to license our products under our aspenONE licensing model, the customer receives, for the term of the arrangement, the right to all software products in the licensed aspenONE software suite. When a customer elects to license point products, the customer receives, for the term of the arrangement, the right to license specified products in the licensed aspenONE software suite. Revenue from initial product licenses is recognized upfront upon delivery.

Maintenance

When a customer elects to license our products under our aspenONE licensing model, our Premier Plus SMS offering is included for the entire term of the arrangement and the customer receives, for the term of the arrangement, the right to any updates that may be introduced into the licensed aspenONE software suite. When a customer elects to license point products, our Premier Plus SMS offering is included for the entire term of the arrangement and the customer receives, for the term of the arrangement, the right to any updates that may be introduced related to the specified products licensed. Maintenance represents a stand-ready obligation and, due to our obligation to provide unspecified future software updates on a when-and-if available basis as well as telephone support services, we are required to recognize revenue ratably over the term of the arrangement.

Services and Other Revenue

Professional Services Revenue

Professional services are provided to customers on a time-and-materials ("T&M") or fixed-price basis. The obligation to provide professional services is generally satisfied over time, with the customer simultaneously receiving and consuming the benefits as we satisfy our performance obligation. For professional services, revenue is recognized by measuring progress toward the completion of our obligations. We recognize professional services fees for our T&M contracts based upon hours worked and contractually agreed-upon hourly rates. Revenue from fixed-price engagements is recognized using the proportional performance method based on the ratio of costs incurred to the total estimated project costs. The use of the proportional performance method is dependent upon our ability to reliably estimate the costs to complete a project. We use historical experience as a basis for future estimates to complete current projects. Additionally, we believe that costs are the best available measure of performance. Out-of-pocket expenses which are reimbursed by customers are recorded as revenue.

Training Revenue

We provide training services to our customers, including on-site, Internet-based, public and customized training. The obligation to provide training services is generally satisfied over time, with the customer simultaneously receiving and consuming the benefits as we satisfy our performance obligation. Revenue is recognized in the period in which the services are performed.

Contracts with Multiple Performance Obligations

Our contracts generally contain more than one of the products and services listed above, each of which is separately accounted for as a distinct performance obligation.

Allocation of consideration: We allocate total contract consideration to each distinct performance obligation in an arrangement on a relative standalone selling price basis. The standalone selling price reflects the price we would charge for a specific product or service if it was sold separately in similar circumstances and to similar customers.

If the arrangement contains professional services and other products or services, we allocate to the professional service obligation a portion of the total contract consideration based on the standalone selling price of professional services that is observed from consistently priced standalone sales.

The standalone selling price for term arrangements, which always include maintenance for the full term of the arrangement, is the price for the combined license and maintenance bundle. The amount assigned to the license and maintenance bundle is separated into license and maintenance amounts using the respective standalone selling prices represented by the value relationship between the software license and maintenance.

When two or more contracts are entered into at or near the same time with the same customer, we evaluate the facts and circumstances associated with the negotiation of those contracts. Where the contracts are negotiated as a package, we will account for them as a single arrangement and allocate the consideration for the combined contracts among the performance obligations accordingly.

Standalone selling price: When available, we use directly observable transactions to determine the standalone selling prices for performance obligations. Generally, directly observable data is not available for term licenses and maintenance. When term licenses are sold together with maintenance in a bundled arrangement, we estimate a standalone selling price for these distinct performance obligations using relevant information, including our overall pricing objectives and strategies and historical pricing data, and taking into consideration market conditions and other factors.

Other policies and judgments

Payment terms and conditions vary by contract type, although terms generally include a requirement of payment annually over the term of the license arrangement. Therefore, we generally receive payment from a customer after the performance obligation related to the license has been satisfied, and therefore, our contracts generally contain a significant financing

component. The significant financing component is calculated utilizing an interest rate that derives the net present value of the performance obligations delivered on an upfront basis based on the allocation of consideration. We have instituted a customer portfolio approach in assigning interest rates. The rates are determined at contract inception and are based on the credit characteristics of the customers within each portfolio.

Contract modifications

We sometimes enter into agreements to modify previously executed contracts, which constitute contract modifications. We assess each of these contract modifications to determine (i) if the additional products and services are distinct from the products and services in the original arrangement; and (ii) if the amount of consideration expected for the added products and services reflects the stand-alone selling price of those products and services, as adjusted for contract-specific circumstances. A contract modification meeting both criteria is accounted for as a separate contract. A contract modification not meeting both criteria is considered a change to the original contract and is accounted for on either (i) a prospective basis as a termination of the existing contract and the creation of a new contract or (ii) a cumulative catch-up basis. Generally, our contract modifications meet both criteria and are accounted for as a separate contract, as adjusted for contract-specific circumstances.

Disaggregation of Revenue

We disaggregate our revenue by region, type of performance obligation, and segment as follows:


	Year Ended June 30,
	2021		2020		2019

	(Dollars in Thousands)
Revenue by region:
North America	$	289,149	$	264,134	$	254,428
Europe	220,052		148,774		153,284
Other (1)	200,175		185,809		188,970
	$	709,376	$	598,717	$	596,682

Revenue by type of performance obligation:
Term licenses	$	497,479	$	388,180	$	404,581
Maintenance	185,164		178,139		163,567
Professional services and other	26,733		32,398		28,534
	$	709,376	$	598,717	$	596,682

Revenue by segment:
Subscription and software	$	682,643	$	566,319	$	568,148
Services and other	26,733		32,398		28,534
	$	709,376	$	598,717	$	596,682

____________________________________________

(1)Other consists primarily of Asia Pacific, Latin America and the Middle East.

Contract Assets and Deferred Revenue

The difference in the opening and closing balances of our contract assets and deferred revenue primarily results from the timing difference between our performance and the customer’s payment. We fulfill our obligations under a contract with a customer by transferring products and services in exchange for consideration from the customer. We recognize a contract asset when we transfer products or services to a customer and the right to consideration is conditional on something other than the

passage of time. Accounts receivable are recorded when the customer has been billed or the right to consideration is unconditional. We recognize deferred revenue when we have received consideration or an amount of consideration is due from the customer and we have a future obligation to transfer products or services.

Payment terms and conditions vary by contract type. Terms generally include a requirement of payment annually over the term of the license arrangement. During the majority of each customer contract term, the amount invoiced is generally less than the amount of revenue recognized to date, primarily because we transfer control of the performance obligation related to the software license at the inception of the contract term, and the allocation of contract consideration to the license performance obligation is a significant portion of the total contract consideration. Therefore, our contracts often result in the recording of a contract asset throughout the majority of the contract term. We record a contract asset when revenue recognized on a contract exceeds the billings.

The contract assets are subject to credit risk and reviewed in accordance with Topic 326. We monitor the credit quality of customer contract asset balances on an individual basis, at each reporting date, through credit characteristics, geographic location, and the industry in which they operate. We recognize an impairment on contract assets if, subsequent to contract inception, it becomes probable payment is not collectible. An allowance for expected credit loss reflects losses expected over the remaining term of the contract asset and is determined based upon historical losses, customer-specific factors, and current economic conditions.

The following table presents the change in the reserve for contract assets during the fiscal year June 30, 2021:


June 30, 2020		Provision		Write-Offs, Recoveries, and Billings		June 30, 2021
(Dollars in Thousands)
$	(2,947)	$	(9,143)	$	6,710	$	(5,380)

Our contract assets and deferred revenue were as follows as of June 30, 2021 and 2020:


	June 30, 2021		June 30, 2020

	(Dollars in Thousands)
Contract assets	$	715,787	$	610,473
Deferred revenue	(68,125)		(57,081)
	$	647,662	$	553,392

Contract assets and deferred revenue are presented net at the contract level for each reporting period.

The change in deferred revenue during fiscal 2021 was primarily due to an increase in new billings in advance of revenue recognition, partially offset by $39.8 million of revenue that was included in deferred revenue at June 30, 2020.

Contract Costs

We pay commissions for new product sales as well as for renewals of existing contracts. Commissions paid to obtain renewal contracts are not commensurate with the commissions paid for new product sales and therefore, a portion of the commissions paid for new contracts relate to future renewals.

We account for new product sales commissions using a portfolio approach and allocate the cost of commissions in proportion to the allocation of transaction price of license and maintenance performance obligations, including assumed renewals. Commissions allocated to the license and license renewal components are expensed at the time the license revenue is recognized. Commissions allocated to maintenance are capitalized and amortized on a straight-line basis over a period of four years to eight years for new contracts, reflecting our estimate of the expected period that we will benefit from those commissions.

Amortization of capitalized contract costs is included in selling and marketing expenses in our statement of operations.

Transaction Price Allocated to Remaining Performance Obligations

The following table includes the aggregate amount of the transaction price allocated as of June 30, 2021 to the performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period:


	Year Ended June 30,
	2022		2023		2024		2025		2026		Thereafter
	(Dollars in Thousands)
License	$	39,300	$	16,050	$	5,445	$	5,485	$	3,990	$	106
Maintenance	174,981		135,320		102,983		68,850		37,199		12,134
Services and other	46,666		1,262		611		424		380		123

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-Section 50
-Paragraph 10
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 15
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
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-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

+ Details

Leases (Notes)

12 Months Ended

Jun. 30, 2021

Leases [Abstract]

Leases

We have operating leases primarily for corporate offices, and other operating leases for data centers and certain equipment. We determine whether an arrangement is or contains a lease based on facts and circumstances present at the inception of the arrangement. We recognize lease expense on a straight-line basis over the lease term. Our leases have remaining lease terms of less than one year to approximately ten years, some of which include options to extend the leases for up to five years, and some of which include the option to terminate the leases upon advanced notice of 30 days or more. If we are reasonably certain we will exercise an option to extend or terminate the lease, the time period covered by the extension or termination option is included in the lease term.

Operating lease liabilities and their corresponding right-of-use assets are recorded based on the present value of lease payments over the expected lease term. The interest rate implicit in the lease contracts is typically not readily determinable. As such, we utilize the appropriate incremental borrowing rate, which is the rate incurred to borrow on a collateralized basis over a similar term at an amount equal to the lease payments in a similar economic environment. Certain adjustments to the right-of-use asset may be required for items such as incentives received. We have lease agreements with lease and non-lease components, which are accounted for separately.

Operating lease costs are recognized on a straight-line basis over the term of the lease. Total lease expenses consisted of rent and fixed fees of $9.4 million and $9.2 million for fiscal year June 30, 2021, and 2020, respectively.

The following table represents the weighted-average remaining lease term and discount rate information related to our operating leases:


	June 30, 2021		June 30, 2020
Weighted average remaining lease term	6.1 Years		5.7 Years
Weighted average discount rate	3.6	%	4.4	%

The following table represents the maturities of our operating lease liabilities as of June 30, 2021:


	June 30, 2021
	(Dollars in Thousands)
Year Ending June 30,
2022	$	7,973
2023	8,024
2024	7,355
2025	5,353
2026	2,209
Thereafter	11,008
Total lease payments	41,922
Less: imputed interest	(5,472)
	$	36,450

Fair Value (Notes)

12 Months Ended

Jun. 30, 2021

Fair Value Disclosures [Abstract]

Fair Value Disclosures [Text Block]

Fair Value

We determine fair value by utilizing a fair value hierarchy that ranks the quality and reliability of the information used in its determination. Fair values determined using “Level 1 inputs” utilize unadjusted quoted prices in active markets for identical assets or liabilities that we have the ability to access. Fair values determined using “Level 2 inputs” utilize data points that are observable, such as quoted prices, interest rates and yield curves for similar assets and liabilities.

Cash equivalents are reported at fair value utilizing quoted market prices in identical markets, or "Level 1 Inputs." Our cash equivalents consist of short-term money market instruments.

Equity method investments are reported at fair value calculated in accordance with the market approach, utilizing market consensus pricing models with quoted prices that are directly or indirectly observable, or "Level 2 Inputs."

The following table summarizes financial assets and liabilities measured and recorded at fair value on a recurring basis in the accompanying consolidated balance sheets as of June 30, 2021 and 2020, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value:


	Fair Value Measurements at Reporting Date Using,
	Quoted Prices in Active Markets for Identical Assets (Level 1 Inputs)		Significant Other Observable Inputs (Level 2 Inputs)
	(Dollars in Thousands)
June 30, 2021
Cash equivalents	$	1,020	$	—
Equity method investments	—		1,326
June 30, 2020
Cash equivalents	$	1,020	$	—
Equity method investments			342

Financial instruments not measured or recorded at fair value in the accompanying consolidated financial statements consist of accounts receivable, accounts payable and accrued liabilities. The estimated fair value of these financial instruments approximates their carrying value. The estimated fair value of the borrowings under the Amended and Restated Credit Agreement (described below in Note 12, "Credit Agreement") approximates its carrying value due to the floating interest rate.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Accounts Receivable (Notes)

12 Months Ended

Jun. 30, 2021

Receivables [Abstract]

Financing Receivables [Text Block]

Accounts Receivable

Our accounts receivable, net of the related allowance for doubtful accounts, were as follows as of June 30, 2021 and 2020:


	June 30, 2021		June 30, 2020
	(Dollars in Thousands)
Accounts receivable, gross	$	61,273	$	62,925
Allowance for doubtful accounts	(8,771)		(6,624)
Accounts receivable, net	$	52,502	$	56,301

As of June 30, 2021 and 2020, we had no customer receivable balance that represented approximately 10% or more of our total receivables.

Property and Equipment

12 Months Ended

Jun. 30, 2021

Property, Plant and Equipment [Abstract]

Property and Equipment

Property, equipment and leasehold improvements in the accompanying consolidated balance sheets consist of the following:


	Year Ended June 30,
	2021		2020
	(Dollars in Thousands)
Property, equipment and leasehold improvements, at cost:
Computer equipment	$	6,250	$	6,958
Purchased software	22,711		22,534
Furniture & fixtures	6,592		6,971
Leasehold improvements	12,982		12,424

Property, equipment and leasehold improvements, at cost	48,535		48,887
Accumulated depreciation	(42,925)		(42,924)
Property, equipment and leasehold improvements, net	$	5,610	$	5,963

Property and equipment are stated at cost. We record depreciation using the straight-line method over their estimated useful lives, as follows:


Asset Classification			Estimated Useful Life
Computer equipment			3 years
Purchased software			3 - 5 years
Furniture and fixtures			3 - 10 years
Leasehold improvements			Life of lease or asset, whichever is shorter

During fiscal 2021 and 2020, we wrote off fully depreciated property, equipment and leasehold improvements that were no longer in use with gross book values of $2.3 million and $0.9 million, respectively.

Depreciation expense was $1.9 million, $2.4 million and $3.1 million for fiscal 2021, 2020 and 2019, respectively.

We account for asset retirement obligations in accordance with ASC Topic 410, Asset Retirement and Environmental Obligations. Our asset retirement obligations relate to leasehold improvements for leased properties. The balance of our asset retirement obligations was $0.9 million as of June 30, 2021 and 2020, respectively.

Acquisitions

12 Months Ended

Jun. 30, 2021

Business Combinations [Abstract]

Acquisitions

Camo Analytics AS

On November 17, 2020, we completed the acquisition of substantially all the outstanding shares of Camo Analytics AS (“Camo”), a leading provider of industrial analytics, for a total cash consideration of $12.7 million. The purchase price consisted of $10.0 million of cash paid at closing, a subsequent working capital adjustment of $(0.1) million, $0.3 million to be paid for the remaining undelivered shares as of the closing date, and $2.4 million to be held back as security for certain representations, warranties, and obligations of the sellers. The remaining holdback amount of $1.2 million is recorded in accrued expenses and other current liabilities in our consolidated balance sheet. As of June 30, 2021, $1.2 million of the holdback amount and the $0.2 million for the remaining undelivered shares, has been subsequently paid.

An allocation of the purchase price is as follows:


	Amount
	(Dollars in Thousands)
Tangible assets acquired, net	$	877
Identifiable intangible assets:
Technology-related	2,533
Customer relationships	1,900
Goodwill	7,356

Total assets acquired, net	$	12,666

The goodwill reflects the value of the assembled workforce and the company-specific synergies we expect to realize by selling Camo products and services to our existing customers and is reported under the subscription and software reporting unit. The results of operations of Camo have been included prospectively in our results of operations since the date of acquisition.

OptiPlant, Inc.

On December 8, 2020, we completed the acquisition of all the outstanding shares of OptiPlant, Inc. (“OptiPlant”), a leading provider of AI Driven 3D Conceptual Design and Engineering Automation software, for a total cash consideration of $8.2 million. The purchase price consisted of $6.8 million of cash paid at closing, $0.2 million to be held back for working capital adjustments, and $1.2 million to be held back as security for certain representations, warranties, and obligations of the sellers. The holdback amount is recorded in other non-current liabilities in our consolidated balance sheet. The working capital adjustment holdback of $0.2 million was subsequently paid in March 2021.

An allocation of the purchase price is as follows:


	Amount
	(Dollars in Thousands)
Tangible assets acquired, net	$	44
Identifiable intangible assets:
Technology-related	1,485
Customer relationships	990
Goodwill	6,252
Deferred tax liabilities	(545)
Total assets acquired, net	$	8,226

The goodwill reflects the value of the assembled workforce and the company-specific synergies we expect to realize by selling OptiPlant products and services to our existing customers and is reported under the subscription and software reporting unit. The results of operations of OptiPlant have been included prospectively in our results of operations since the date of acquisition.

Intangible Assets

12 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

We include in our amortizable intangible assets those intangible assets acquired in our business and asset acquisitions. We amortize acquired intangible assets with finite lives over their estimated economic lives, generally using the straight-line method. Each period, we evaluate the estimated remaining useful lives of acquired intangible assets to determine whether events or changes in circumstances warrant a revision to the remaining period of amortization. Acquired intangible assets are removed from the accounts when fully amortized and no longer in use.

Intangible assets consist of the following as of June 30, 2021 and 2020:


	Gross Carrying Amount		Accumulated Amortization		Effect of Currency Translation		Net Carrying Amount
	(Dollars in Thousands)
June 30, 2021:
Technology	$	55,288	$	(19,378)	$	911	$	36,821
Customer relationships	12,038		(4,713)		181		7,506
Non-compete agreements	553		(553)		—		—
Total	$	67,879	$	(24,644)	$	1,092	$	44,327
June 30, 2020:
Technology	$	51,269	$	(13,245)	$	(842)	$	37,182
Customer relationships	9,148		(3,171)		(308)		5,669
Non-compete agreements	553		(553)		—		—
Total	$	60,970	$	(16,969)	$	(1,150)	$	42,851

Total amortization expense related to intangible assets amounted to $7.7 million, $6.6 million and $4.5 million in fiscal 2021, 2020 and 2019, respectively.

Future amortization expense as of June 30, 2021 is expected to be as follows:


Year Ended June 30,	Amortization Expense
	(Dollars in Thousands)
2022	$	8,190
2023	8,173
2024	7,633
2025	7,548
2026	5,314
Thereafter	7,469
Total	$	44,327

Goodwill

12 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The changes in the carrying amount of goodwill for our subscription and software reporting segment during the fiscal years ended June 30, 2021 and 2020 were as follows:


	Gross Carrying Amount		Accumulated Impairment Losses		Effect of Currency Translation		Net Carrying Amount
June 30, 2020	$	207,850	$	(65,569)	$	(5,226)	$	137,055
Goodwill from acquisitions	13,608		—		—		13,608
Foreign currency translation	—		—		9,189		9,189
June 30, 2021	$	221,458	$	(65,569)	$	3,963	$	159,852

	Gross Carrying Amount		Accumulated Impairment Losses		Effect of Currency Translation		Net Carrying Amount
June 30, 2019	$	145,572	$	(65,569)	$	(1,620)	$	78,383
Goodwill from acquisitions, net of adjustments	62,278		—		—		62,278
Foreign currency translation	—		—		(3,606)		(3,606)
June 30, 2020	$	207,850	$	(65,569)	$	(5,226)	$	137,055

We test goodwill for impairment annually (or more often if impairment indicators arise), at the reporting unit level. We first assess qualitative factors to determine whether the existence of events or circumstances indicates that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If we determine based on this assessment that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, we perform the goodwill impairment test. The first step requires us to determine the fair value of the reporting unit and compare it to the carrying amount, including goodwill, of such reporting unit. If the fair value exceeds the carrying amount, no impairment loss is recognized. However, if the carrying amount of the reporting unit exceeds its fair value, the goodwill of the unit is impaired.

Fair value of a reporting unit is determined using a combined weighted average of a market-based approach (utilizing fair value multiples of comparable publicly traded companies) and an income-based approach (utilizing discounted projected cash flows). In applying the income-based approach, we would be required to make assumptions about the amount and timing of future expected cash flows, growth rates and appropriate discount rates. The amount and timing of future cash flows would be based on our most recent long-term financial projections. The discount rate we would utilize would be determined using estimates of market participant risk-adjusted weighted-average costs of capital and reflect the risks associated with achieving future cash flows.

We have elected December 31st as the annual impairment assessment date. We performed our annual impairment test for the subscription and software reporting unit as of December 31, 2020 and, based upon the results of our qualitative assessment, determined that it was not likely that its fair value was less than its carrying amount. As such, we did not recognize impairment losses as a result of our analysis. There were also no impairment losses recognized during fiscal 2021 and 2020. If an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying value, goodwill will be evaluated for impairment between annual tests.

Accrued Expenses and Other Liabilities

12 Months Ended

Jun. 30, 2021

Balance Sheet Related Disclosures [Abstract]

Accrued Expenses and Other Liabilities

Accrued expenses and other current liabilities in the accompanying consolidated balance sheets consist of the following:


	June 30, 2021		June 30, 2020
	(Dollars in Thousands)
Compensation-related	$	26,442	$	27,591
Share repurchases	4,353		—
Royalties and external commissions	3,642		3,359
Professional fees	2,964		2,115
Deferred acquisition payments	2,862		1,479
Uncertain tax positions	1,087		318

Other	9,225		8,694
Total accrued expenses and other current liabilities	$	50,575	$	43,556

Other non-current liabilities in the accompanying consolidated balance sheets consist of the following:


	June 30, 2021		June 30, 2020
	(Dollars in Thousands)

Uncertain tax positions	1,343		2,027
Deferred acquisition payments	1,200		—
Asset retirement obligations	947		920
Other	270		160
Total other non-current liabilities	$	3,760	$	3,107

Credit Agreement

12 Months Ended

Jun. 30, 2021

Debt Disclosure [Abstract]

Credit Agreement

In December 2019, we entered into an Amended and Restated Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent, joint lead arranger and joint bookrunner, Silicon Valley Bank, as joint lead arranger, joint bookrunner and syndication agent, and the lenders and co-documentation agents named therein (the "Amended and Restated Credit Agreement"). The Amended and Restated Credit Agreement, which amends and restates the Credit Agreement we entered into as of February 26, 2016, provides for a $200.0 million secured revolving credit facility and a $320.0 million secured term loan facility.

Principal outstanding under the Amended and Restated Credit Agreement bears interest at a rate per annum equal to, at our option, either: (1) the sum of (a) the highest of (i) the rate of interest last quoted by The Wall Street Journal in the United States as the prime rate in effect, (ii) the NYFRB Rate plus 0.5%, and (iii) the LIBO rate multiplied by the Statutory Reserve Rate plus 1.0%, plus (b) a margin initially of 0.5% for the first full fiscal quarter ending after the date of the Amended and Restated Credit Agreement and thereafter based on our leverage ratio (as defined in the Amended and Restated Credit Agreement); or (2) the sum of (a) the LIBO rate multiplied by the Statutory Reserve Rate, plus (b) a margin initially of 1.5% for the first full fiscal quarter ending after the date of the Amended and Restated Credit Agreement and thereafter based on our leverage ratio. The interest rate as of June 30, 2021 was 1.61% on $296.0 million in outstanding borrowings on our term loan facility.

All borrowings under the Amended and Restated Credit Agreement are secured by liens on substantially all of our assets and the assets of our subsidiary AspenTech Canada Holdings, LLC, which has guaranteed our obligations under the Amended and Restated Credit Agreement. Additional significant subsidiaries (as determined in the Amended and Restated Credit Agreement) may be required to guarantee our obligations and to grant liens on their assets in favor of the lenders.

As of June 30, 2021, our current borrowings of $20.0 million consist of the term loan facility. Our non-current borrowings of $273.2 million consist of $276.0 million of our term loan facility, net of $2.8 million in debt issuance costs. As of June 30, 2020, we had current borrowings of $135.2 million, which consisted of $119.2 million under the revolving credit facility and $16.0 million under our term loan facility. As of June 30, 2020, we had non-current borrowings of $292.4 million , which consisted of $296.0 million under our term loan facility, net of $3.6 million in debt issuance costs.

Outstanding balances of the indebtedness under the revolving credit facility mature on December 23, 2024. The following table summarizes the maturities of the term loan facility:


Year Ended June 30,	Amount
	(Dollars in Thousands)
2022	$	20,000
2023	28,000
2024	36,000
2025	212,000


Total	$	296,000

The Amended and Restated Credit Agreement contains affirmative and negative covenants customary for facilities of this type, including restrictions on incurrence of additional debt, liens, fundamental changes, asset sales, restricted payments and transactions with affiliates. There are also financial covenants regarding maintenance as of the end of each fiscal quarter of a maximum leverage ratio of 3.50 to 1.00 and a minimum interest coverage ratio of 2.50 to 1.00. As of June 30, 2021, we were in compliance with these covenants.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

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+ Details

Stock-Based Compensation

12 Months Ended

Jun. 30, 2021

Share-based Payment Arrangement [Abstract]

Stock-Based Compensation

Stock Compensation Plans

In December 2016, the shareholders approved the establishment of the 2016 Omnibus Incentive Plan (the "2016 Plan"), which provides for the issuance of a maximum of 6,000,000 shares of common stock. The 2016 Plan provides for the grant of incentive and nonqualified stock options, stock appreciation rights, restricted stock, restricted stock units, other stock-related awards, and performance awards that may be settled in cash, stock, or other property. As of June 30, 2021, there were 5,451,500 shares of common stock available for issuance subject to awards under the 2016 Plan.

Employee Stock Purchase Plan

On July 26, 2018, our Board of Directors approved the Aspen Technology, Inc. 2018 Employee Stock Purchase Plan (the "ESPP"), which provides for the issuance of up to 250,000 shares of common stock to participating employees. The ESPP is intended to be a qualified employee stock purchase plan under Section 423 of the Internal Revenue Code of 1986, or the IRC. The ESPP was approved at our Annual Meeting of Stockholders on December 7, 2018. The ESPP permits eligible employees to purchase a limited amount of shares as defined in the ESPP through payroll deductions at a purchase price equal to 85% of the lower of (a) the fair market value of the common stock on the first trading day of each ESPP offering period and (b) the fair market value of the common stock on the last day of each six-month offering period.

We recorded stock-based compensation expense associated with the ESPP of approximately $0.6 million and $0.5 million during fiscal 2021 and 2020, respectively. As a result of employee stock purchases, we issued 18,508 shares and 19,222 shares of common stock during fiscal 2021 and 2020, respectively. The aggregate intrinsic value of shares issued under the ESPP was $1.9 million and $1.8 million during fiscal 2021 and 2020, respectively. As of June 30, 2021, there were 199,231 shares of common stock available for issuance under the ESPP.

General Award Terms

We issue stock options and restricted stock units (RSUs) to our employees and outside directors, pursuant to shareholder-approved equity compensation plans. Option awards are granted with an exercise price equal to the market closing price of our stock on the trading day prior to the grant date. Those options generally vest over four years and expire within 7 or 10 years of grant. RSUs generally vest over four years. Historically, our practice has been to settle stock option exercises and RSU vesting through newly-issued shares.

Stock Compensation Accounting

Our stock-based compensation is accounted for as awards of equity instruments. Our policy is to issue new shares upon the exercise of stock awards.

We utilize the Black-Scholes option valuation model for estimating the fair value of options granted. The Black-Scholes option valuation model incorporates assumptions regarding expected stock price volatility, the expected life of the option, the risk-free interest rate, dividend yield and the market value of our common stock. The expected stock price volatility is determined based on our stock's historic prices over a period commensurate with the expected life of the award. The expected life of an option represents the period for which options are expected to be outstanding as determined by historic option exercises and cancellations. The risk-free interest rate is based on the U.S. Treasury yield curve for notes with terms approximating the expected life of the options granted. The expected dividend yield is zero, based on our history and expectation of not paying dividends on common shares. We recognize stock-based compensation expense on a straight-line basis, net of forfeitures, over the requisite service period for time-vested awards.

The weighted average estimated fair value of option awards granted during fiscal 2021, 2020 and 2019 was $38.84, $33.13, and $31.25, respectively.

We utilized the Black-Scholes option valuation model with the following weighted average assumptions:


	Year Ended June 30,
	2021		2020		2019
Risk-free interest rate	0.4	%	1.5	%	2.8	%
Expected dividend yield	None		None		None
Expected life (in years)	4.7		4.5		4.6
Expected volatility factor	34.2	%	26.8	%	26.6	%

The stock-based compensation expense and its classification in the accompanying consolidated statements of operations for fiscal 2021, 2020 and 2019 was as follows:


	Year Ended June 30,
	2021		2020		2019
	(Dollars in Thousands)
Recorded as expenses:
Cost of maintenance	$	896	$	1,441	$	1,282
Cost of service and other	1,613		1,961		1,420
Selling and marketing	6,567		5,656		4,849
Research and development	8,987		8,306		6,923
General and administrative	15,581		14,184		13,099
Total stock-based compensation	$	33,644	$	31,548	$	27,573

A summary of stock option and RSU activity under all equity plans in fiscal 2021 is as follows:


	Stock Options						Restricted Stock Units
	Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value (in 000's)		Shares	Weighted Average Grant Date Fair Value
Outstanding at June 30, 2020	1,410,139	$	76.19	6.67	$	49,705	352,921	$	112.45
Granted	327,209	131.57					248,366	131.31
Settled (RSUs)							(198,219)	105.50
Exercised	(405,532)	59.16
Cancelled / Forfeited	(46,595)	116.81					(41,044)	117.36
Outstanding at June 30, 2021	1,285,221	$	94.18	6.93	$	56,032	362,024	$	128.66
Exercisable at June 30, 2021	812,704	$	73.83	5.86	$	51,793
Vested and expected to vest at June 30, 2021	1,231,660	$	92.72	6.86	$	55,523	314,455	$	128.78

During fiscal 2021, 2020 and 2019, the weighted average grant-date fair value of RSUs granted was $131.31, $133.35 and $114.72, respectively. During fiscal 2021, 2020 and 2019 the total fair value of vested shares from RSU grants amounted to $27.0 million, $29.7 million and $39.9 million, respectively.

As of June 30, 2021, the total future unrecognized compensation cost related to stock options and RSUs was $12.9 million and $32.5 million, respectively, and are expected to be recorded over a weighted average period of 2.55 years and 2.47 years, respectively.

During fiscal 2021, 2020 and 2019 the weighted average exercise price of stock options granted was $131.57, $133.00 and $113.88. The total intrinsic value of options exercised during fiscal 2021, 2020 and 2019 was $32.9 million, $9.9 million and $18.2 million, respectively. We received $24.2 million, $9.0 million and $10.9 million in cash proceeds from issuances of

shares of common stock during fiscal 2021, 2020 and 2019, respectively. We paid $9.2 million, $10.2 million and $14.7 million for withholding taxes on vested RSUs during fiscal 2021, 2020 and 2019, respectively.

At June 30, 2021, common stock reserved for future issuance under equity compensation plans was 5.5 million shares.

Stock Repurchases	12 Months Ended
Stock Repurchases	Jun. 30, 2021
Equity [Abstract]
Stock Repurchases	Stock Repurchases On January 22, 2015, our Board of Directors approved a share repurchase program (the "Share Repurchase Program") for up to $450.0 million of our common stock. The Share Repurchase Program was announced on January 28, 2015, and expires at the end of each fiscal year unless extended. On April 26, 2016, June 8, 2017, April 18, 2018, December 6, 2018, and April 17, 2019, the Board of Directors approved a $400.0 million, $200.0 million, $200.0 million, $100.0 million, and $200.0 million increase in the Share Repurchase Program, respectively.On July 22, 2020, our Board of Directors approved a new share repurchase program (the "FY 2021 Program") for up to $200.0 million of our common stock, and terminated the Share Repurchase Program. The FY 2021 Program expired on June 30, 2021. On June 4, 2021, our Board of Directors approved another share repurchase program (the “FY 2022 Program”) for up to $300.0 million of our common stock in our fiscal year ending June 30, 2022. The timing and amount of any shares repurchased under the FY 2022 Program are based on market conditions and other factors. All shares of our common stock repurchased have been recorded as treasury stock under the cost method. On June 14, 2021, as part of our FY 2022 Program, we entered into an accelerated share repurchase program (the "ASR Program") with a third party financial institution to repurchase an aggregate of $150.0 million of our common stock. The final settlement of the transaction under the ASR Program is expected to occur in the first quarter of our fiscal year 2022. For more details on of the ASR Program, refer to Note 21, "Subsequent Events". During fiscal 2021, we repurchased 361,239 shares of our common stock in the open market for $50.0 million under the FY 2021 Program. During fiscal 2020, we repurchased 1,252,289 shares of our common stock in the open market for $150.0 million. During fiscal 2019, we repurchased 3,074,127 shares of our common stock in the open market for $300.0 million. As of June 30, 2021, there was no remaining dollar value under the FY 2021 Program, and $300.0 million under the FY 2022 Program.

Net Income Per Share (Notes)

12 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

Net Income Per Share

Basic income per share is determined by dividing net income by the weighted average common shares outstanding during the period. Diluted income per share is determined by dividing net income by diluted weighted average shares outstanding during the period. Diluted weighted average shares reflect the dilutive effect, if any, of potential common shares. To the extent their effect is dilutive, employee equity awards and other commitments to be settled in common stock are included in the calculation of diluted net income per share based on the treasury stock method.

The calculations of basic and diluted net income per share and basic and dilutive weighted average shares outstanding for the years ended June 30, 2021, 2020 and 2019 are as follows:


	Year Ended June 30,
	2021		2020		2019
	(Dollars and Shares in Thousands, Except per Share Data)
Net income	$	319,803	$	229,671	$	261,362

Weighted average shares outstanding	67,863		68,000		69,925
Dilutive impact from:
Employee equity awards	629		727		862
Dilutive weighted average shares outstanding	68,492		68,727		70,787
Income per share
Basic	$	4.71	$	3.38	$	3.74
Dilutive	$	4.67	$	3.34	$	3.69

For the years ended June 30, 2021, 2020 and 2019, certain employee equity awards were anti-dilutive based on the treasury stock method. The following employee equity awards were excluded from the calculation of dilutive weighted average shares outstanding because their effect would be anti-dilutive as of the balance sheet date:


	Year Ended June 30,
	2021	2020	2019
	(Shares in Thousands)
Employee equity awards	533	670	784

Included in the table above are options to purchase 269,341 shares of our common stock as of June 30, 2021 which were not included in the computation of dilutive weighted average shares outstanding, because their exercise prices ranged from $132.63 per share to $153.07 per share and were greater than the average market price of our common stock during the period then ended. These options were outstanding as of June 30, 2021 and expire at various dates through February 17, 2030.

Income Taxes

12 Months Ended

Jun. 30, 2021

Income Tax Disclosure [Abstract]

Income Taxes

Income before provision for income taxes consists of the following:


	Year Ended June 30,
	2021		2020		2019
	(Dollars in Thousands)
Domestic	$	376,582	$	274,066	$	297,002
Foreign	8,164		5,291		4,525
Income before provision for income taxes	$	384,746	$	279,357	$	301,527

The provision for income taxes shown in the accompanying consolidated statements of operations is composed of the following:


	Year Ended June 30,
	2021		2020		2019
	(Dollars in Thousands)
Federal—
Current	$	45,643	$	17,048	$	64,194
Deferred	13,039		28,101		(27,267)
State—
Current	2,821		1,367		3,246
Deferred	(41)		500		(1,033)
Foreign—
Current	4,004		2,797		1,549
Deferred	(522)		(127)		(524)
	$	64,944	$	49,686	$	40,165

Our tax expense for fiscal 2021 was unfavorably impacted primarily by the higher pre-tax book income, offset by the FDII deduction, tax credits, and the recognition of excess tax benefits related to stock-based compensation.

The provision for income taxes differs from that based on the federal statutory rate due to the following:


	Year Ended June 30,
	2021		2020		2019
	(Dollars in Thousands)
Federal tax provision at statutory rate	$	80,797	$	58,665	$	63,321
State income taxes	2,226		1,225		1,533

Foreign-derived intangible income (FDII)	(13,805)		(13,581)		(20,326)
Global intangible low-taxed income (GILTI)	49		404		797
Effect of foreign operations	8,950		6,148		7,395
Impact of tax accounting method change	—		6,433		—
Foreign taxes and rate differences	(566)		404		514
Stock-based compensation	(2,415)		33		(3,774)
Tax credits	(11,301)		(7,969)		(9,677)
Uncertain tax positions	89		(3,236)		1,055


Valuation allowance	1,171		504		(550)
Other, net	(251)		656		(123)
Provision for income taxes	$	64,944	$	49,686	$	40,165

Net deferred tax liabilities consist of the following at June 30, 2021 and 2020:


	Year Ended June 30,
	2021		2020
	(Dollars in Thousands)
Deferred tax assets:
State and foreign credits	$	6,684	$	4,922

Net operating loss carryforwards	4,511		1,200
Deferred revenue	3,876		4,596
Other reserves and accruals	8,663		7,465
Intangible assets	957		982
Property, leasehold improvements, and other basis differences	5,202		5,514
Other temporary differences	452		925
	30,345		25,604
Deferred tax liabilities:
Contract assets and costs	(182,809)		(158,538)
Deferred revenue	(15,944)		(27,066)
Intangible assets	(7,795)		(6,815)
Property, leasehold improvements, and other basis differences	(5,122)		(5,223)

	(211,670)		(197,642)
Valuation allowance	(9,914)		(6,205)
Net deferred tax liabilities	$	(191,239)	$	(178,243)

Reflected in the deferred tax assets above at June 30, 2021, we have foreign net operating loss carryforwards of $4.5 million, with unlimited carryforwards, and state and foreign research and development credits of $6.7 million which begin to expire in 2026.

Our valuation allowance for deferred tax assets was $9.9 million and $6.2 million as of June 30, 2021 and 2020, respectively. The most significant portion of the valuation allowance as of June 30, 2021 is attributable to a reserve against state R&D tax credits of $5.4 million.

For fiscal 2021, our income tax provision included amounts determined under the provisions of ASC 740 intended to satisfy additional income tax assessments, including interest and penalties, that could result from any tax return positions for which the likelihood of sustaining the position on audit does not meet a threshold of "more likely than not." Tax liabilities were recorded as a component of our income taxes payable and other non-current liabilities. The ultimate amount of taxes due will not be known until examinations are completed and settled or the audit periods are closed by statutes.

A reconciliation of the reserve for uncertain tax positions is as follows:


	Year Ended June 30,
	2021		2020		2019
	(Dollars in Thousands)
Uncertain tax positions, beginning of year	$	2,106	$	5,380	$	3,931
Gross (decreases) increases —tax positions in prior period	—		(2,216)		407
Gross increases—tax positions in current period	304		—		1,789
Gross decreases—lapse of statutes	(317)		(1,032)		(740)
Currency translation adjustment	45		(26)		(7)
Uncertain tax positions, end of year	$	2,138	$	2,106	$	5,380

At June 30, 2021, the total amount of unrecognized tax benefits is $2.1 million. Upon being recognized, $1.9 million would reduce the effective tax rate. Our policy is to recognize interest and penalties related to income tax matters as provision

for (benefit from) income taxes. At June 30, 2021, we had approximately $0.3 million of accrued interest and $0.1 million of penalties related to uncertain tax positions. We recorded a benefit for interest and penalties of approximately $0.1 million during fiscal 2021.

We are subject to income tax in many jurisdictions outside the U.S. We are no longer under examination by the taxing authority regarding any U.S. federal income tax returns for fiscal years prior to 2018. Our operations in certain jurisdictions remain subject to examination for tax years 2010 to 2020, some of which are currently under audit by local tax authorities. The resolutions of these audits are not expected to be material to our consolidated financial statements.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

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+ Details

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and ContingenciesStandby letters of credit for $2.3 million and $3.5 million secured our performance on professional services contracts, certain facility leases and potential liabilities as of June 30, 2021 and 2020, respectively. The letters of credit as of June 30, 2021 expire at various dates through fiscal 2026.

Retirement Plans	12 Months Ended
Retirement Plans	Jun. 30, 2021
Retirement Benefits [Abstract]
Retirement and Profit Sharing Plans	Retirement PlansWe maintain a defined contribution retirement plan under Section 401(k) of the Internal Revenue Code (IRC) covering all eligible employees, as defined. Under the plan, a participant may elect to defer receipt of a stated percentage of his or her compensation, subject to limitation under the IRC, which would otherwise be payable to the participant for any plan year. We may make discretionary contributions to this plan, including making matching contributions of 50%, up to a maximum of 6% of an employee's pretax contribution. We made matching contributions of approximately $3.4 million, $2.8 million and $2.6 million in fiscal 2021, 2020 and 2019, respectively. Additionally, we participate in certain government mandated and defined contribution plans throughout the world for which we comply with all funding requirements.

Segment and Geographic Information

12 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

Segment and Geographic Information

Operating segments are defined as components of an enterprise that engage in business activities for which discrete financial information is available and regularly reviewed by the chief operating decision maker in deciding how to allocate resources and to assess performance. Our chief operating decision maker is our President and Chief Executive Officer.

We have two operating and reportable segments, which are consistent with our reporting units: i) subscription and software and ii) services and other. The subscription and software segment is engaged in the licensing of process optimization and asset performance management software solutions and associated support services, and includes our license and maintenance revenue. The services and other segment includes professional services and training, and includes our services and other revenue. We do not track assets or capital expenditures by operating segments. Consequently, it is not practical to present assets, capital expenditures, depreciation or amortization by operating segments.

The following table presents a summary of our reportable segments' profits:


	Subscription and Software		Services and Other		Total
	(Dollars in Thousands)
Year Ended June 30, 2021:
Segment revenue	$	682,643	$	26,733	$	709,376
Segment expenses (1)	(236,751)		(32,588)		(269,339)
Segment profit (loss)	$	445,892	$	(5,855)	$	440,037
Year Ended June 30, 2020:
Segment revenue	$	566,319	$	32,398	$	598,717
Segment expenses (1)	(233,205)		(35,118)		(268,323)
Segment profit (loss)	$	333,114	$	(2,720)	$	330,394
Year Ended June 30, 2019, As Adjusted:
Segment revenue	$	568,148	$	28,534	$	596,682
Segment expenses (1)	(220,764)		(31,548)		(252,312)
Segment profit (loss)	$	347,384	$	(3,014)	$	344,370

____________________________________________

(1)Our reportable segments’ operating expenses include expenses directly attributable to the segments. Segment expenses include selling and marketing and research and development expenses. Segment expenses do not include allocations of general and administrative expense; interest income; interest expense; and other (expense) income, net.

Reconciliation to Income Before Income Taxes

The following table presents a reconciliation of total segment operating profit to income before provision for income taxes:


	Year Ended June 30,
	2021		2020		2019
	(Dollars in Thousands)
Total segment profit for reportable segments	$	440,037	$	330,394	$	344,370
General and administrative	(81,636)		(73,035)		(63,231)
Interest income	36,791		32,658		28,457
Interest (expense)	(7,245)		(11,862)		(8,733)
Other (expense) income, net	(3,200)		1,202		664
Income before income taxes	$	384,747	$	279,357	$	301,527

Geographic Information:

We have long-lived assets of approximately $89.1 million that are located domestically and $160.3 million that reside in other geographic locations as of June 30, 2021. We had long-lived assets of approximately $92.9 million that were located domestically and $132.4 million that reside in other geographic locations as of June 30, 2020.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Quarterly Financial Data (Unaudited)

12 Months Ended

Jun. 30, 2021

Quarterly Financial Data [Abstract]

Quarterly Financial Data (Unaudited)

The following tables present quarterly consolidated statement of operations data for fiscal 2021 and 2020. The below data is unaudited but, in our opinion, reflects all adjustments necessary for a fair presentation of this data in accordance with GAAP.


	Three Months Ended
	June 30, 2021		March 31, 2021		December 31, 2020		September 30, 2020
	(Dollars in Thousands, Except per Share Data)
Total revenue	$	197,961	$	162,726	$	233,718	$	114,971
Gross profit	183,646		146,671		219,403		99,505
Income from operations	105,879		68,899		149,453		34,170
Net income	95,445		62,495		129,152		32,711
Net income per common share:
Basic	$	1.40	$	0.92	$	1.91	$	0.48
Diluted	$	1.39	$	0.91	$	1.89	$	0.48
Weighted average shares outstanding:
Basic	68,028		67,920		67,780		67,729
Diluted	68,612		68,608		68,400		68,299


	Three Months Ended
	June 30, 2020		March 30, 2020		December 31, 2019		September 30, 2019
	(Dollars in Thousands, Except per Share Data)
Total revenue	$	201,940	$	130,588	$	126,012	$	140,177
Gross profit	186,782		114,883		110,486		124,959
Income from operations	116,296		44,734		42,939		53,390
Net income	94,530		41,826		39,801		53,514
Net income per common share:
Basic	$	1.40	$	0.62	$	0.58	$	0.78
Diluted	$	1.39	$	0.61	$	0.58	$	0.77
Weighted average shares outstanding:
Basic	67,634		67,806		68,114		68,441
Diluted	68,176		68,482		68,844		69,317

Schedule II - Valuation and Qualifying Accounts (Notes)

12 Months Ended

Jun. 30, 2021

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Schedule II - Valuation and Qualifying Accounts


Description	Balance at Beginning of Year		Additions: Charges to Costs and Expenses		Deductions: Returns and Write-Offs		Balance at End of Year
	(Dollars in Thousands)
Year ended June 30, 2021 Allowance for doubtful accounts	$	(6,624)	$	(9,716)	$	7,569	$	(8,771)
Year ended June 30, 2020 Allowance for doubtful accounts	(3,349)		(5,255)		1,980		(6,624)
Year ended June 30, 2019 Allowance for doubtful accounts	(2,703)		(1,621)		975		(3,349)

Subsequent Events	12 Months Ended
Subsequent Events	Jun. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsOn June 14, 2021, as part of our FY 2022 Program, we entered into the ASR Program with a third-party financial institution. Pursuant to the terms of the ASR Program, on July 1, 2021 we made an upfront payment of $150.0 million. We will receive an initial delivery of approximately 80% of the underlying shares of our common stock, based on the closing price of our common stock on June 30, 2021 and subject to limitations set forth in the ASR Program. The final number of shares we will repurchase under the ASR Program will be based on the average of the daily volume-weighted average prices of our common stock during the term of the transaction, less a discount. The final settlement of the transaction under the ASR Program is expected to occur in the first quarter of our fiscal year 2022.

Significant Accounting Policies (Policies)	12 Months Ended
Significant Accounting Policies (Policies)	Jun. 30, 2021
Accounting Policies [Abstract]
Principles of Consolidation	(a) Principles of Consolidation The accompanying consolidated financial statements include the accounts of Aspen Technology, Inc. and our wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Management Estimates	(b) Management Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents	(c) Cash and Cash Equivalents Cash and cash equivalents consist of short-term money market instruments.
Computer Software Development Costs	(d) Computer Software Development Costs Certain computer software development costs are capitalized in the accompanying consolidated balance sheets. Capitalization of computer software development costs begins upon establishing technological feasibility defined as meeting specifications determined by the program design. Amortization of capitalized computer software development costs is provided on a product-by-product basis using the greater of (a) the amount computed using the ratio that current gross revenue for a product bears to total of current and anticipated future gross revenue for that product or (b) the straight-line method, beginning upon commercial release of the product, and continuing over the remaining estimated economic life of the product, not to exceed three years. Total computer software costs capitalized were $1.2 million, $0.2 million and $1.1 million during the years ended June 30, 2021, 2020 and 2019, respectively. Total amortization expense charged to operations was approximately $0.7 million, $0.6 million and $0.5 million for the years ended June 30, 2021, 2020 and 2019, respectively. Computer software development accumulated amortization totaled $76.4 million and $75.7 million as of June 30, 2021 and 2020, respectively. Weighted average remaining useful life of computer software development costs was 2.1 years and 2.0 years at June 30, 2021 and 2020, respectively. At each balance sheet date, we evaluate the unamortized capitalized software costs for potential impairment by comparing the balance to the net realizable value of the products. During the years ended June 30, 2021, 2020 and 2019, our computer software development costs were not considered impaired and as such, we did not recognize impairment losses during the periods then ended.
Foreign Currency Transactions	(e) Foreign Currency Translation The determination of the functional currency of subsidiaries is based on the subsidiaries' financial and operational environment. Gains and losses from foreign currency translation related to entities whose functional currency is not our reporting currency are credited or charged to accumulated other comprehensive income included in stockholders' equity in the consolidated balance sheets. In all instances, foreign currency transaction and remeasurement gains or losses are credited or charged to the consolidated statements of operations as incurred as a component of other income (expense), net. There was a net foreign currency transaction and remeasurement losses of $3.4 million in fiscal 2021 and gains were $(0.9) million and $(0.7) million in fiscal 2020 and 2019, respectively.
Concentration of Credit Risk	(f) Concentration of Credit Risk Financial instruments that potentially subject us to concentrations of credit risk are principally cash and cash equivalents, contract assets, and accounts receivable. Our cash is held in financial institutions and our cash equivalents are invested in money market mutual funds that we believe to be of high credit quality. Concentration of credit risk with respect to contract assets and receivables is limited to certain customers to which we make substantial sales. To reduce risk, we assess the financial strength of our customers. We do not require collateral or other security in support of our contact assets and receivables. As of June 30, 2021 and 2020, we had no customer receivable balance that represented approximately 10% or more of our total receivables.
Computer Software Developed for Internal Use	(g) Computer Software Developed for Internal Use and Long-Lived Assets Computer Software Developed for Internal Use: Computer software developed for internal use is capitalized in accordance with ASC Topic 350-40, Intangibles Goodwill and Other—Internal Use Software. We capitalize costs incurred to develop internal-use software during the application development stage after determining software technological requirements and obtaining management approval for funding projects probable of completion. In fiscal 2021, 2020 and 2019, there were no capitalized direct labor costs associated with our development of software for internal use.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets: We evaluate our long-lived assets, which include finite-lived intangible assets, property and leasehold improvements for impairment as events and circumstances indicate that the carrying amount of an asset or a group of assets may not be recoverable. We assess the recoverability of the asset or a group of assets based on the undiscounted future cash flows the asset is expected to generate, and recognize an impairment loss when estimated undiscounted future cash flows expected to result from the use of the asset are less than its carrying value. If an asset or a group of assets are deemed to be impaired, the amount of the impairment loss, if any, represents the excess of the asset's or a group of assets' carrying value compared to their estimated fair values.
Comprehensive Income	(h) Comprehensive Income (loss) Comprehensive income (loss) is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. Comprehensive income (loss) and its components for fiscal 2021, 2020 and 2019 are disclosed in the accompanying consolidated statements of comprehensive income (loss). As of June 30, 2021 and 2020, accumulated other comprehensive income (loss) is comprised of foreign translation adjustments of $14.3 million and $(5.6) million, respectively.
Accounting for Stock-Based Compensation	(i) Accounting for Stock-Based Compensation Substantially all stock-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as expense over the requisite service period.
Income Taxes	(j) Income Taxes Deferred income taxes are recognized based on temporary differences between the financial statement and tax bases of assets and liabilities. Deferred tax assets and liabilities are measured using the statutory tax rates and laws expected to apply to taxable income in the years in which the temporary differences are expected to reverse. Valuation allowances are provided against net deferred tax assets if, based upon the available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income and the timing of the temporary differences becoming deductible. Management considers, among other available information, scheduled reversals of deferred tax liabilities, projected future taxable income, limitations of availability of net operating loss carryforwards, and other matters in making this assessment. We do not provide deferred taxes on unremitted earnings of foreign subsidiaries since we intend to indefinitely reinvest either currently or sometime in the foreseeable future. Unrecognized provisions for taxes on undistributed earnings of foreign subsidiaries, which are considered indefinitely reinvested, are not material to our consolidated financial position or results of operations. We are continuously subject to examination by the Internal Revenue Service (the "IRS"), as well as various state and foreign jurisdictions. The IRS and other taxing authorities may challenge certain deductions and credits reported by us on our income tax returns. In accordance with provisions of ASC Topic 740, Income Taxes (ASC 740), an entity should recognize a tax benefit when it is more-likely-than-not, based on the technical merits, that the position would be sustained upon examination by a taxing authority. The amount to be recognized, if the more-likely-than-not threshold was passed, should be measured as the largest amount of tax benefit that is greater than 50 percent likely of being realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. Furthermore, any change in the recognition, de-recognition or measurement of a tax position should be recorded in the period in which the change occurs. We account for interest and penalties related to uncertain tax positions as part of the provision for income taxes.
Loss Contingencies	(k) Loss Contingencies We accrue estimated liabilities for loss contingencies arising from claims, assessments, litigation and other sources when it is probable that a liability has been incurred and the amount of the claim assessment or damages can be reasonably estimated. We believe that we have sufficient accruals to cover any obligations resulting from claims, assessments or litigation that have met these criteria.
Advertising Costs	(l) Advertising CostsAdvertising costs are expensed as incurred and are classified as sales and marketing expenses. We incurred advertising expenses of $6.2 million, $3.5 million and $4.4 million during fiscal 2021, 2020 and 2019, respectively.
Research and Development Expense	(m) Research and Development Expense We charge research and development expenditures to expense as the costs are incurred. Research and development expenses consist primarily of personnel expenses related to the creation of new products, enhancements and engineering changes to existing products and costs of acquired technology prior to establishing technological feasibility.
Equity Method Investments [Policy Text Block]	(n) Equity Method Investments During fiscal 2020, we entered into a limited partnership investment fund agreement. The primary objective of this partnership is investing in equity and equity-related securities (including convertible debt) of venture growth- stage businesses. We account for the investment in accordance with Topic 323, Investments - Equity Method and Joint Ventures. Our total commitment under this partnership is 5.0 million CAD ($3.5 million). Under the conditions of the equity method investment, unfavorable future changes in market conditions could lead to a potential loss up to the full value of our 5.0 million CAD ($3.5 million) commitment. As of June 30, 2021, the fair value of this investment is 1.8 million CAD ($1.3 million), representing our payments towards the total commitment during fiscal 2021, and is recorded in non-current assets in our consolidated balance sheet.
Recent Accounting Pronouncements	(o) New Accounting Pronouncements Adopted in Fiscal 2021 and 2020 In February 2016, the FASB issued Accounting Standards Update ("ASU") No. 2016-02, Leases ("Topic 842"). Under the amendment, lessees are required to recognize virtually all of their leases on the balance sheet, by recording a right-of-use asset and lease liability. The ASU is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2018. We adopted Topic 842 effective July 1, 2019 using the effective date method with a modified retrospective transition approach. Results for reporting periods beginning on or after July 1, 2019 are presented under Topic 842, while prior period amounts were not adjusted and continue to be reported in accordance with the Company’s historic accounting under Topic 840 “Leases.” We elected the package of practical expedients permitted under the transition guidance within the new standard, which allowed the carry forward of historical assessments of whether a contract contains a lease, lease classification and initial direct costs. The most significant impact of the adoption of Topic 842 was the recognition of operating lease right-of-use assets of $28.5 million and current and non-current operating lease liabilities of $7.4 million and $26.5 million, respectively, and the reversal of deferred rent of $6.5 million as of July 1, 2019. The adoption of Topic 842 did not have a material impact on our operating results or cash flows, and there was no impact on our debt covenants. See Note 4, "Leases," to our Consolidated Financial Statements for more information on the impact of adopting Topic 842. In June 2016, the FASB issued Topic 326. The amendment changes the impairment model for most financial assets and certain other instruments. Under Topic 326, entities are required to use a model that will result in the earlier recognition of allowances for losses for trade and other receivables, contract assets, held-to-maturity debt securities, loans, and other instruments. Topic 326 is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2019.We adopted Topic 326 effective July 1, 2020 using the effective date method with a modified retrospective transition approach. The adoption of Topic 326 did not have a material impact on our balance sheet, operating results or cash flows, and there was no impact on our debt covenants. In March 2020, the FASB issued ASU 2020-04, Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“Topic 848”). ASU 2020-04 provides practical expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The expedients and exceptions provided by ASU 2020-04 apply only to contracts, hedging relationships, and other transactions that reference the London Interbank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued as a result of reference rate reform. These amendments are not applicable to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022. ASU No. 2020-04 is effective as of March 12, 2020 through December 31, 2022, and may be applied to contract modifications and hedging relationships from the beginning of an interim period that includes or is subsequent to March 12, 2020. We adopted ASU 2020-04 effective July 1, 2020. The adoption of ASU No. 2020-04 did not have a material impact on our operating results or cash flows, and there was no impact on our debt covenants. (p) Recently Issued Accounting Pronouncements In December 2019, the FASB issued ASU No. 2019-12, Income Taxes ("Topic 740") - Simplifying the Accounting for Income Taxes. ASU 2019-12 is intended to simplify accounting for income taxes. It removes certain exceptions to the general principles in Topic 740 and amends existing guidance to improve consistent application. ASU 2019-12 is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2020. Early adoption is permitted. We are currently evaluating the impact of ASU 2019-12 on our consolidated financial statements.

Revenue from Contracts with Customers (Policies)

12 Months Ended

Jun. 30, 2021

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer [Policy Text Block]

Revenue from Contracts with Customers

Nature of Products and Services

We also license our software through point product term arrangements, which include our Premier Plus SMS offering for the entire term.

We determine revenue recognition through the following steps:

• Identification of the contract, or contracts, with a customer;

• Identification of the performance obligations in the contract;

• Determination of the transaction price;

• Allocation of the transaction price to the performance obligations in the contract; and

• Recognition of revenue when, or as, we satisfy a performance obligation.

Term-based Arrangements: Term-based arrangements consist of on-premise term licenses as well as maintenance.

License

License revenue consists primarily of product and related revenue from our aspenONE licensing model and point product arrangements.

Maintenance

Services and Other Revenue

Professional Services Revenue

Training Revenue

Contracts with Multiple Performance Obligations

Our contracts generally contain more than one of the products and services listed above, each of which is separately accounted for as a distinct performance obligation.

Other policies and judgments

Contract modifications

Disaggregation of Revenue

We disaggregate our revenue by region, type of performance obligation, and segment as follows:


	Year Ended June 30,
	2021		2020		2019

	(Dollars in Thousands)
Revenue by region:
North America	$	289,149	$	264,134	$	254,428
Europe	220,052		148,774		153,284
Other (1)	200,175		185,809		188,970
	$	709,376	$	598,717	$	596,682

Revenue by type of performance obligation:
Term licenses	$	497,479	$	388,180	$	404,581
Maintenance	185,164		178,139		163,567
Professional services and other	26,733		32,398		28,534
	$	709,376	$	598,717	$	596,682

Revenue by segment:
Subscription and software	$	682,643	$	566,319	$	568,148
Services and other	26,733		32,398		28,534
	$	709,376	$	598,717	$	596,682

____________________________________________

(1)Other consists primarily of Asia Pacific, Latin America and the Middle East.

Contract Assets and Deferred Revenue

The following table presents the change in the reserve for contract assets during the fiscal year June 30, 2021:


June 30, 2020		Provision		Write-Offs, Recoveries, and Billings		June 30, 2021
(Dollars in Thousands)
$	(2,947)	$	(9,143)	$	6,710	$	(5,380)

Our contract assets and deferred revenue were as follows as of June 30, 2021 and 2020:


	June 30, 2021		June 30, 2020

	(Dollars in Thousands)
Contract assets	$	715,787	$	610,473
Deferred revenue	(68,125)		(57,081)
	$	647,662	$	553,392

Contract assets and deferred revenue are presented net at the contract level for each reporting period.

Contract Costs

Amortization of capitalized contract costs is included in selling and marketing expenses in our statement of operations.

Transaction Price Allocated to Remaining Performance Obligations


	Year Ended June 30,
	2022		2023		2024		2025		2026		Thereafter
	(Dollars in Thousands)
License	$	39,300	$	16,050	$	5,445	$	5,485	$	3,990	$	106
Maintenance	174,981		135,320		102,983		68,850		37,199		12,134
Services and other	46,666		1,262		611		424		380		123

- Definition

Disclosure of accounting policy for revenue from contract with customer.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130561-203045

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 20
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130566-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130563-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 20
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130566-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130563-203045

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123372394&loc=d3e18823-107790

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 20
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130566-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 19
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130564-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 20
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130566-203045

+ Details

Leases (Policies)

12 Months Ended

Jun. 30, 2021

Leases [Abstract]

Lessee, Leases [Policy Text Block]

Leases

The following table represents the weighted-average remaining lease term and discount rate information related to our operating leases:


	June 30, 2021		June 30, 2020
Weighted average remaining lease term	6.1 Years		5.7 Years
Weighted average discount rate	3.6	%	4.4	%

The following table represents the maturities of our operating lease liabilities as of June 30, 2021:


	June 30, 2021
	(Dollars in Thousands)
Year Ending June 30,
2022	$	7,973
2023	8,024
2024	7,355
2025	5,353
2026	2,209
Thereafter	11,008
Total lease payments	41,922
Less: imputed interest	(5,472)
	$	36,450

Intangible Assets (Policies)

12 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Intangible assets consist of the following as of June 30, 2021 and 2020:


	Gross Carrying Amount		Accumulated Amortization		Effect of Currency Translation		Net Carrying Amount
	(Dollars in Thousands)
June 30, 2021:
Technology	$	55,288	$	(19,378)	$	911	$	36,821
Customer relationships	12,038		(4,713)		181		7,506
Non-compete agreements	553		(553)		—		—
Total	$	67,879	$	(24,644)	$	1,092	$	44,327
June 30, 2020:
Technology	$	51,269	$	(13,245)	$	(842)	$	37,182
Customer relationships	9,148		(3,171)		(308)		5,669
Non-compete agreements	553		(553)		—		—
Total	$	60,970	$	(16,969)	$	(1,150)	$	42,851

Total amortization expense related to intangible assets amounted to $7.7 million, $6.6 million and $4.5 million in fiscal 2021, 2020 and 2019, respectively.

Future amortization expense as of June 30, 2021 is expected to be as follows:


Year Ended June 30,	Amortization Expense
	(Dollars in Thousands)
2022	$	8,190
2023	8,173
2024	7,633
2025	7,548
2026	5,314
Thereafter	7,469
Total	$	44,327

Goodwill (Policies)

12 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The changes in the carrying amount of goodwill for our subscription and software reporting segment during the fiscal years ended June 30, 2021 and 2020 were as follows:


	Gross Carrying Amount		Accumulated Impairment Losses		Effect of Currency Translation		Net Carrying Amount
June 30, 2020	$	207,850	$	(65,569)	$	(5,226)	$	137,055
Goodwill from acquisitions	13,608		—		—		13,608
Foreign currency translation	—		—		9,189		9,189
June 30, 2021	$	221,458	$	(65,569)	$	3,963	$	159,852

	Gross Carrying Amount		Accumulated Impairment Losses		Effect of Currency Translation		Net Carrying Amount
June 30, 2019	$	145,572	$	(65,569)	$	(1,620)	$	78,383
Goodwill from acquisitions, net of adjustments	62,278		—		—		62,278
Foreign currency translation	—		—		(3,606)		(3,606)
June 30, 2020	$	207,850	$	(65,569)	$	(5,226)	$	137,055

Revenue from Contracts with Customers (Tables)

12 Months Ended

Jun. 30, 2021

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue [Table Text Block]

Disaggregation of Revenue

We disaggregate our revenue by region, type of performance obligation, and segment as follows:


	Year Ended June 30,
	2021		2020		2019

	(Dollars in Thousands)
Revenue by region:
North America	$	289,149	$	264,134	$	254,428
Europe	220,052		148,774		153,284
Other (1)	200,175		185,809		188,970
	$	709,376	$	598,717	$	596,682

Revenue by type of performance obligation:
Term licenses	$	497,479	$	388,180	$	404,581
Maintenance	185,164		178,139		163,567
Professional services and other	26,733		32,398		28,534
	$	709,376	$	598,717	$	596,682

Revenue by segment:
Subscription and software	$	682,643	$	566,319	$	568,148
Services and other	26,733		32,398		28,534
	$	709,376	$	598,717	$	596,682

____________________________________________

(1)Other consists primarily of Asia Pacific, Latin America and the Middle East.

Contract with Customer, Asset and Liability [Table Text Block]

The following table presents the change in the reserve for contract assets during the fiscal year June 30, 2021:


June 30, 2020		Provision		Write-Offs, Recoveries, and Billings		June 30, 2021
(Dollars in Thousands)
$	(2,947)	$	(9,143)	$	6,710	$	(5,380)

Our contract assets and deferred revenue were as follows as of June 30, 2021 and 2020:


	June 30, 2021		June 30, 2020

	(Dollars in Thousands)
Contract assets	$	715,787	$	610,473
Deferred revenue	(68,125)		(57,081)
	$	647,662	$	553,392

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block]

Transaction Price Allocated to Remaining Performance Obligations


	Year Ended June 30,
	2022		2023		2024		2025		2026		Thereafter
	(Dollars in Thousands)
License	$	39,300	$	16,050	$	5,445	$	5,485	$	3,990	$	106
Maintenance	174,981		135,320		102,983		68,850		37,199		12,134
Services and other	46,666		1,262		611		424		380		123

Leases (Tables)

12 Months Ended

Jun. 30, 2021

Leases [Abstract]

Lease, Cost [Table Text Block]

The following table represents the weighted-average remaining lease term and discount rate information related to our operating leases:


	June 30, 2021		June 30, 2020
Weighted average remaining lease term	6.1 Years		5.7 Years
Weighted average discount rate	3.6	%	4.4	%

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

The following table represents the maturities of our operating lease liabilities as of June 30, 2021:


	June 30, 2021
	(Dollars in Thousands)
Year Ending June 30,
2022	$	7,973
2023	8,024
2024	7,355
2025	5,353
2026	2,209
Thereafter	11,008
Total lease payments	41,922
Less: imputed interest	(5,472)
	$	36,450

Fair Value (Tables)

12 Months Ended

Jun. 30, 2021

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fair Value Option, Disclosures [Table Text Block]


	Fair Value Measurements at Reporting Date Using,
	Quoted Prices in Active Markets for Identical Assets (Level 1 Inputs)		Significant Other Observable Inputs (Level 2 Inputs)
	(Dollars in Thousands)
June 30, 2021
Cash equivalents	$	1,020	$	—
Equity method investments	—		1,326
June 30, 2020
Cash equivalents	$	1,020	$	—
Equity method investments			342

Accounts Receivable (Tables)

12 Months Ended

Jun. 30, 2021

Receivables [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

Our accounts receivable, net of the related allowance for doubtful accounts, were as follows as of June 30, 2021 and 2020:


	June 30, 2021		June 30, 2020
	(Dollars in Thousands)
Accounts receivable, gross	$	61,273	$	62,925
Allowance for doubtful accounts	(8,771)		(6,624)
Accounts receivable, net	$	52,502	$	56,301

Property and Equipment (Tables)

12 Months Ended

Jun. 30, 2021

Property, Plant and Equipment [Abstract]

Property, equipment and leasehold improvements

Property, equipment and leasehold improvements in the accompanying consolidated balance sheets consist of the following:


	Year Ended June 30,
	2021		2020
	(Dollars in Thousands)
Property, equipment and leasehold improvements, at cost:
Computer equipment	$	6,250	$	6,958
Purchased software	22,711		22,534
Furniture & fixtures	6,592		6,971
Leasehold improvements	12,982		12,424

Property, equipment and leasehold improvements, at cost	48,535		48,887
Accumulated depreciation	(42,925)		(42,924)
Property, equipment and leasehold improvements, net	$	5,610	$	5,963

Property and equipment are stated at cost. We record depreciation using the straight-line method over their estimated useful lives, as follows:


Asset Classification			Estimated Useful Life
Computer equipment			3 years
Purchased software			3 - 5 years
Furniture and fixtures			3 - 10 years
Leasehold improvements			Life of lease or asset, whichever is shorter

Acquisitions (Tables)

12 Months Ended

Jun. 30, 2021

Camo Analytics AS

Business Acquisition [Line Items]

Schedule of recognized identified assets acquired and liabilities assumed

An allocation of the purchase price is as follows:


	Amount
	(Dollars in Thousands)
Tangible assets acquired, net	$	877
Identifiable intangible assets:
Technology-related	2,533
Customer relationships	1,900
Goodwill	7,356

Total assets acquired, net	$	12,666

OptiPlant, Inc

Business Acquisition [Line Items]

Schedule of recognized identified assets acquired and liabilities assumed

An allocation of the purchase price is as follows:


	Amount
	(Dollars in Thousands)
Tangible assets acquired, net	$	44
Identifiable intangible assets:
Technology-related	1,485
Customer relationships	990
Goodwill	6,252
Deferred tax liabilities	(545)
Total assets acquired, net	$	8,226

Intangible Assets (Tables)

12 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

Future amortization expense as of June 30, 2021 is expected to be as follows:


Year Ended June 30,	Amortization Expense
	(Dollars in Thousands)
2022	$	8,190
2023	8,173
2024	7,633
2025	7,548
2026	5,314
Thereafter	7,469
Total	$	44,327

Intangible assets

Intangible assets consist of the following as of June 30, 2021 and 2020:


	Gross Carrying Amount		Accumulated Amortization		Effect of Currency Translation		Net Carrying Amount
	(Dollars in Thousands)
June 30, 2021:
Technology	$	55,288	$	(19,378)	$	911	$	36,821
Customer relationships	12,038		(4,713)		181		7,506
Non-compete agreements	553		(553)		—		—
Total	$	67,879	$	(24,644)	$	1,092	$	44,327
June 30, 2020:
Technology	$	51,269	$	(13,245)	$	(842)	$	37,182
Customer relationships	9,148		(3,171)		(308)		5,669
Non-compete agreements	553		(553)		—		—
Total	$	60,970	$	(16,969)	$	(1,150)	$	42,851

Goodwill (Tables)

12 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in carrying amount of goodwill by reporting unit

The changes in the carrying amount of goodwill for our subscription and software reporting segment during the fiscal years ended June 30, 2021 and 2020 were as follows:


	Gross Carrying Amount		Accumulated Impairment Losses		Effect of Currency Translation		Net Carrying Amount
June 30, 2020	$	207,850	$	(65,569)	$	(5,226)	$	137,055
Goodwill from acquisitions	13,608		—		—		13,608
Foreign currency translation	—		—		9,189		9,189
June 30, 2021	$	221,458	$	(65,569)	$	3,963	$	159,852

	Gross Carrying Amount		Accumulated Impairment Losses		Effect of Currency Translation		Net Carrying Amount
June 30, 2019	$	145,572	$	(65,569)	$	(1,620)	$	78,383
Goodwill from acquisitions, net of adjustments	62,278		—		—		62,278
Foreign currency translation	—		—		(3,606)		(3,606)
June 30, 2020	$	207,850	$	(65,569)	$	(5,226)	$	137,055

Accrued Expenses and Other Liabilities (Tables)

12 Months Ended

Jun. 30, 2021

Balance Sheet Related Disclosures [Abstract]

Accrued expenses and other current liabilities

Accrued expenses and other current liabilities in the accompanying consolidated balance sheets consist of the following:


	June 30, 2021		June 30, 2020
	(Dollars in Thousands)
Compensation-related	$	26,442	$	27,591
Share repurchases	4,353		—
Royalties and external commissions	3,642		3,359
Professional fees	2,964		2,115
Deferred acquisition payments	2,862		1,479
Uncertain tax positions	1,087		318

Other	9,225		8,694
Total accrued expenses and other current liabilities	$	50,575	$	43,556

Other non-current liabilities

Other non-current liabilities in the accompanying consolidated balance sheets consist of the following:


	June 30, 2021		June 30, 2020
	(Dollars in Thousands)

Uncertain tax positions	1,343		2,027
Deferred acquisition payments	1,200		—
Asset retirement obligations	947		920
Other	270		160
Total other non-current liabilities	$	3,760	$	3,107

Credit Agreement Maturities of Term Loan Facility (Tables)

12 Months Ended

Jun. 30, 2021

Debt Disclosure [Abstract]

Schedule of Maturities of Long-term Debt [Table Text Block]

Outstanding balances of the indebtedness under the revolving credit facility mature on December 23, 2024. The following table summarizes the maturities of the term loan facility:


Year Ended June 30,	Amount
	(Dollars in Thousands)
2022	$	20,000
2023	28,000
2024	36,000
2025	212,000


Total	$	296,000

Stock-Based Compensation (Tables)

12 Months Ended

Jun. 30, 2021

Share-based Payment Arrangement [Abstract]

Weighted average assumptions

We utilized the Black-Scholes option valuation model with the following weighted average assumptions:


	Year Ended June 30,
	2021		2020		2019
Risk-free interest rate	0.4	%	1.5	%	2.8	%
Expected dividend yield	None		None		None
Expected life (in years)	4.7		4.5		4.6
Expected volatility factor	34.2	%	26.8	%	26.6	%

Stock-based compensation expense

The stock-based compensation expense and its classification in the accompanying consolidated statements of operations for fiscal 2021, 2020 and 2019 was as follows:


	Year Ended June 30,
	2021		2020		2019
	(Dollars in Thousands)
Recorded as expenses:
Cost of maintenance	$	896	$	1,441	$	1,282
Cost of service and other	1,613		1,961		1,420
Selling and marketing	6,567		5,656		4,849
Research and development	8,987		8,306		6,923
General and administrative	15,581		14,184		13,099
Total stock-based compensation	$	33,644	$	31,548	$	27,573

Stock options and RSU activity

A summary of stock option and RSU activity under all equity plans in fiscal 2021 is as follows:


	Stock Options						Restricted Stock Units
	Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value (in 000's)		Shares	Weighted Average Grant Date Fair Value
Outstanding at June 30, 2020	1,410,139	$	76.19	6.67	$	49,705	352,921	$	112.45
Granted	327,209	131.57					248,366	131.31
Settled (RSUs)							(198,219)	105.50
Exercised	(405,532)	59.16
Cancelled / Forfeited	(46,595)	116.81					(41,044)	117.36
Outstanding at June 30, 2021	1,285,221	$	94.18	6.93	$	56,032	362,024	$	128.66
Exercisable at June 30, 2021	812,704	$	73.83	5.86	$	51,793
Vested and expected to vest at June 30, 2021	1,231,660	$	92.72	6.86	$	55,523	314,455	$	128.78

Net Income Per Share (Tables)

12 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

The calculations of basic and diluted net income per share and basic and dilutive weighted average shares outstanding for the years ended June 30, 2021, 2020 and 2019 are as follows:


	Year Ended June 30,
	2021		2020		2019
	(Dollars and Shares in Thousands, Except per Share Data)
Net income	$	319,803	$	229,671	$	261,362

Weighted average shares outstanding	67,863		68,000		69,925
Dilutive impact from:
Employee equity awards	629		727		862
Dilutive weighted average shares outstanding	68,492		68,727		70,787
Income per share
Basic	$	4.71	$	3.38	$	3.74
Dilutive	$	4.67	$	3.34	$	3.69

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]


	Year Ended June 30,
	2021	2020	2019
	(Shares in Thousands)
Employee equity awards	533	670	784

Income Taxes (Tables)

12 Months Ended

Jun. 30, 2021

Income Tax Disclosure [Abstract]

Income before provision for income taxes

Income before provision for income taxes consists of the following:


	Year Ended June 30,
	2021		2020		2019
	(Dollars in Thousands)
Domestic	$	376,582	$	274,066	$	297,002
Foreign	8,164		5,291		4,525
Income before provision for income taxes	$	384,746	$	279,357	$	301,527

Provision for income taxes

The provision for income taxes shown in the accompanying consolidated statements of operations is composed of the following:


	Year Ended June 30,
	2021		2020		2019
	(Dollars in Thousands)
Federal—
Current	$	45,643	$	17,048	$	64,194
Deferred	13,039		28,101		(27,267)
State—
Current	2,821		1,367		3,246
Deferred	(41)		500		(1,033)
Foreign—
Current	4,004		2,797		1,549
Deferred	(522)		(127)		(524)
	$	64,944	$	49,686	$	40,165

Income tax reconciliation based on federal statutory rate

The provision for income taxes differs from that based on the federal statutory rate due to the following:


	Year Ended June 30,
	2021		2020		2019
	(Dollars in Thousands)
Federal tax provision at statutory rate	$	80,797	$	58,665	$	63,321
State income taxes	2,226		1,225		1,533

Foreign-derived intangible income (FDII)	(13,805)		(13,581)		(20,326)
Global intangible low-taxed income (GILTI)	49		404		797
Effect of foreign operations	8,950		6,148		7,395
Impact of tax accounting method change	—		6,433		—
Foreign taxes and rate differences	(566)		404		514
Stock-based compensation	(2,415)		33		(3,774)
Tax credits	(11,301)		(7,969)		(9,677)
Uncertain tax positions	89		(3,236)		1,055


Valuation allowance	1,171		504		(550)
Other, net	(251)		656		(123)
Provision for income taxes	$	64,944	$	49,686	$	40,165

Deferred tax assets and liabilities

Net deferred tax liabilities consist of the following at June 30, 2021 and 2020:


	Year Ended June 30,
	2021		2020
	(Dollars in Thousands)
Deferred tax assets:
State and foreign credits	$	6,684	$	4,922

Net operating loss carryforwards	4,511		1,200
Deferred revenue	3,876		4,596
Other reserves and accruals	8,663		7,465
Intangible assets	957		982
Property, leasehold improvements, and other basis differences	5,202		5,514
Other temporary differences	452		925
	30,345		25,604
Deferred tax liabilities:
Contract assets and costs	(182,809)		(158,538)
Deferred revenue	(15,944)		(27,066)
Intangible assets	(7,795)		(6,815)
Property, leasehold improvements, and other basis differences	(5,122)		(5,223)

	(211,670)		(197,642)
Valuation allowance	(9,914)		(6,205)
Net deferred tax liabilities	$	(191,239)	$	(178,243)

Reconciliation of reserve for uncertain tax positions

A reconciliation of the reserve for uncertain tax positions is as follows:


	Year Ended June 30,
	2021		2020		2019
	(Dollars in Thousands)
Uncertain tax positions, beginning of year	$	2,106	$	5,380	$	3,931
Gross (decreases) increases —tax positions in prior period	—		(2,216)		407
Gross increases—tax positions in current period	304		—		1,789
Gross decreases—lapse of statutes	(317)		(1,032)		(740)
Currency translation adjustment	45		(26)		(7)
Uncertain tax positions, end of year	$	2,138	$	2,106	$	5,380

Segment and Geographic Information (Tables)

12 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

Summary of reportable segments' profits

The following table presents a summary of our reportable segments' profits:


	Subscription and Software		Services and Other		Total
	(Dollars in Thousands)
Year Ended June 30, 2021:
Segment revenue	$	682,643	$	26,733	$	709,376
Segment expenses (1)	(236,751)		(32,588)		(269,339)
Segment profit (loss)	$	445,892	$	(5,855)	$	440,037
Year Ended June 30, 2020:
Segment revenue	$	566,319	$	32,398	$	598,717
Segment expenses (1)	(233,205)		(35,118)		(268,323)
Segment profit (loss)	$	333,114	$	(2,720)	$	330,394
Year Ended June 30, 2019, As Adjusted:
Segment revenue	$	568,148	$	28,534	$	596,682
Segment expenses (1)	(220,764)		(31,548)		(252,312)
Segment profit (loss)	$	347,384	$	(3,014)	$	344,370

____________________________________________

Reconciliation of total segment operating profit to income before provision for income taxes

The following table presents a reconciliation of total segment operating profit to income before provision for income taxes:


	Year Ended June 30,
	2021		2020		2019
	(Dollars in Thousands)
Total segment profit for reportable segments	$	440,037	$	330,394	$	344,370
General and administrative	(81,636)		(73,035)		(63,231)
Interest income	36,791		32,658		28,457
Interest (expense)	(7,245)		(11,862)		(8,733)
Other (expense) income, net	(3,200)		1,202		664
Income before income taxes	$	384,747	$	279,357	$	301,527

Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Jun. 30, 2021

Quarterly Financial Data [Abstract]

Quarterly consolidated statement of operations data


	Three Months Ended
	June 30, 2021		March 31, 2021		December 31, 2020		September 30, 2020
	(Dollars in Thousands, Except per Share Data)
Total revenue	$	197,961	$	162,726	$	233,718	$	114,971
Gross profit	183,646		146,671		219,403		99,505
Income from operations	105,879		68,899		149,453		34,170
Net income	95,445		62,495		129,152		32,711
Net income per common share:
Basic	$	1.40	$	0.92	$	1.91	$	0.48
Diluted	$	1.39	$	0.91	$	1.89	$	0.48
Weighted average shares outstanding:
Basic	68,028		67,920		67,780		67,729
Diluted	68,612		68,608		68,400		68,299


	Three Months Ended
	June 30, 2020		March 30, 2020		December 31, 2019		September 30, 2019
	(Dollars in Thousands, Except per Share Data)
Total revenue	$	201,940	$	130,588	$	126,012	$	140,177
Gross profit	186,782		114,883		110,486		124,959
Income from operations	116,296		44,734		42,939		53,390
Net income	94,530		41,826		39,801		53,514
Net income per common share:
Basic	$	1.40	$	0.62	$	0.58	$	0.78
Diluted	$	1.39	$	0.61	$	0.58	$	0.77
Weighted average shares outstanding:
Basic	67,634		67,806		68,114		68,441
Diluted	68,176		68,482		68,844		69,317

Schedule II - Valuation and Qualifying Accounts Schedule II - Valuation and Qualifying Accounts (Tables)

12 Months Ended

Jun. 30, 2021

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Financing Receivable, Allowance for Credit Loss [Table Text Block]

Schedule II - Valuation and Qualifying Accounts


Description	Balance at Beginning of Year		Additions: Charges to Costs and Expenses		Deductions: Returns and Write-Offs		Balance at End of Year
	(Dollars in Thousands)
Year ended June 30, 2021 Allowance for doubtful accounts	$	(6,624)	$	(9,716)	$	7,569	$	(8,771)
Year ended June 30, 2020 Allowance for doubtful accounts	(3,349)		(5,255)		1,980		(6,624)
Year ended June 30, 2019 Allowance for doubtful accounts	(2,703)		(1,621)		975		(3,349)

Operations - Narrative (Details)	Jun. 30, 2021 country
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of countries of operations	35

Significant Accounting Policies - Computer Software Development Costs (Details) - Computer Software Development Costs - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Computer Software Development Costs for Internal Use
Maximum period over which amortization of computer software development costs provided on a product-by-product basis using straight-line method	3 years
Computer software cost capitalized	$ 1,200,000	$ 200,000	$ 1,100,000
Amortization expense charged to operations	700,000	600,000	500,000
Computer software development accumulated amortization	$ 76,400,000	$ 75,700,000
Weighted average remaining useful life of computer software development costs	2 years 1 month 6 days	2 years
Capitalized Computer Software, Impairments	$ 0	$ 0	$ 0

Significant Accounting Policies - Foreign Currency Translation (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Accounting Policies [Abstract]
Net foreign currency transaction and remeasurement gains (losses)	$ (3.4)	$ 0.9	$ 0.7

Significant Accounting Policies - Concentration of Credit Risk (Details)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Concentration of Credit Risk
Concentration risk, number of customers	no	no
Customer One \| Accounts and installments receivable \| Customers concentration risk
Concentration of Credit Risk
Percentage of total receivables	10.00%

Significant Accounting Policies - Computer Software Developed For Internal Use (Details) - USD ($) $ in Millions	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Software Development
Computer Software Development Costs for Internal Use
Capitalized costs for computer software developed for internal use, net	$ 0.0	$ 0.0	$ 0.0

Significant Accounting Policies - Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Accounting Policies [Abstract]
Foreign currency translation adjustments	$ 14,314	$ (5,624)	$ (1,052)

Significant Accounting Policies - Advertising Costs & Research and Development Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Advertising expenses
Advertising expenses	$ 6.2	$ 3.5	$ 4.4

Significant Accounting Policies Significant Accounting Policies - Income Taxes (Details)	Jun. 30, 2021
Significant Accounting Policies - Income Taxes (Details) [Abstract]
Tax Benefit, Percent Recognized	50.00%

Significant Accounting Policies Significant Accounting Policies - Equity Method Investments (Details) - 12 months ended Jun. 30, 2021 $ in Millions, $ in Millions	USD ($)	CAD ($)	CAD ($)
Schedule of Equity Method Investments [Line Items]
Investment Company, Committed Capital	$ 3.5
Equity Method Investments	$ 1.3
Canada, Dollars
Schedule of Equity Method Investments [Line Items]
Investment Company, Committed Capital		$ 5.0
Equity Method Investments			$ 1.8

Significant Accounting Policies Significant Accounting Policies - Recently Issued Accounting Pronouncements (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020	Jul. 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets	$ 32,539	$ 34,905
Current operating lease liabilities	6,751	6,824
Non-current operating lease liabilities	$ 29,699	$ 33,088
Accounting Standards Update 2016-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets			$ 28,500
Current operating lease liabilities			7,400
Non-current operating lease liabilities			26,500
Deferred Rent Credit			$ 6,500

Revenue from Contracts with Customers (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2021 USD ($)
Contract with Customer, Asset, Allowance for Credit Loss [Roll Forward]
Contract with Customer, Asset, Allowance for Credit Loss	$ (2,947)
Provision	(9,143)
Write-Offs, Recoveries, and Billings	6,710
Contract with Customer, Asset, Allowance for Credit Loss	$ (5,380)

Revenue from Contracts with Customers Contract Balances (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Revenue from Contract with Customer [Abstract]
Contract assets	$ 715,787	$ 610,473
Deferred revenue	(68,125)	(57,081)
Net contract assets	647,662	$ 553,392
Recognized Deferred Revenue	$ 39,800

Revenue from Contracts with Customers Contract Costs (Details)	Jun. 30, 2021
Minimum
Contract costs, amortization period	4 years
Maximum
Contract costs, amortization period	8 years

Revenue from Contracts with Customers Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Total Revenue	$ 197,961	$ 162,726	$ 233,718	$ 114,971	$ 201,940	$ 130,588	$ 126,012	$ 140,177	$ 709,376	$ 598,717	$ 596,682
Term licenses
Total Revenue									497,479	388,180	404,581
Maintenance
Total Revenue									185,164	178,139	163,567
Professional services and other
Total Revenue									26,733	32,398	28,534
North America
Total Revenue									289,149	264,134	254,428
Europe
Total Revenue									220,052	148,774	153,284
Other
Total Revenue									200,175	185,809	188,970
Subscription and software
Total Revenue									682,643	566,319	568,148
Services and other
Total Revenue									$ 26,733	$ 32,398	$ 28,534

- Definition

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130543-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Leases (Details) - USD ($) $ in Thousands	12 Months Ended
Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Lessee, Lease, Description [Line Items]
Lessor, Operating Lease, Option to Terminate	30 days
Operating Lease, Cost	$ 9,400	$ 9,200
Operating Lease, Weighted Average Remaining Lease Term	6 years 1 month 6 days	5 years 8 months 12 days
Operating Lease, Weighted Average Discount Rate, Percent	3.60%	4.40%
2022	$ 7,973
2023	8,024
2024	7,355
2025	5,353
2026	2,209
Thereafter	11,008
Total lease payments	41,922
Total lease payments	(5,472)
Less: imputed interest	$ 36,450
Minimum
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Term of Contract	1 year
Maximum
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Term of Contract	10 years
Lessee, Operating Lease, Renewal Term	5 years

Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Fair Value, Inputs, Level 2 [Member]
Cash and Cash Equivalents, Fair Value Disclosure	$ 0	$ 0
Equity Method Investments, Fair Value Disclosure	1,326	342
Fair Value, Inputs, Level 1 [Member]
Cash and Cash Equivalents, Fair Value Disclosure	1,020	1,020
Equity Method Investments, Fair Value Disclosure	$ 0

Accounts Receivable (Details) - USD ($) $ in Thousands	12 Months Ended
Accounts Receivable (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Accounts receivable, gross	$ 61,273	$ 62,925
Allowance for doubtful accounts	(8,771)	(6,624)	$ (3,349)	$ (2,703)
Accounts receivable, net	$ 52,502	$ 56,301
Concentration risk, number of customers	no	no
Accounts Receivable [Member] \| Customer Concentration Risk [Member] \| Customer One [Member]
Percentage of total receivables	10.00%

Property and Equipment - Property, Equipment and Leasehold Improvements (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Property, Plant and Equipment [Line Items]
Property, equipment and leasehold improvements, at cost	$ 48,535	$ 48,887
Accumulated depreciation	(42,925)	(42,924)
Property, equipment and leasehold improvements, net	5,610	5,963
Computer equipment
Property, Plant and Equipment [Line Items]
Property, equipment and leasehold improvements, at cost	6,250	6,958
Purchased software
Property, Plant and Equipment [Line Items]
Property, equipment and leasehold improvements, at cost	22,711	22,534
Furniture & fixtures
Property, Plant and Equipment [Line Items]
Property, equipment and leasehold improvements, at cost	6,592	6,971
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, equipment and leasehold improvements, at cost	$ 12,982	$ 12,424

Property and Equipment - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Property, Plant and Equipment [Abstract]
Fully depreciated property, equipment and leasehold improvements written-off, gross book value	$ 2.3	$ 0.9
Depreciation	1.9	2.4	$ 3.1
Asset retirement obligation	$ 0.9	$ 0.9

Property and Equipment - Estimate Useful Lives of Property and Equipment (Details)	12 Months Ended
	Jun. 30, 2021
Computer equipment
Property, Plant and Equipment [Line Items]
Estimated Useful Life	3 years
Purchased software \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life	3 years
Purchased software \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life	5 years
Furniture & fixtures \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life	3 years
Furniture & fixtures \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life	10 years

Acquisitions - Camo Analytics AS (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Nov. 17, 2020	Jun. 30, 2020
Acquisition
Payment for Contingent Consideration Liability, Investing Activities	$ 1,200
Goodwill	159,852		$ 137,055
Camo Analytics AS
Acquisition
Business Combination, Consideration Transferred	12,700
Payments to Acquire Businesses, Gross	10,000
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Consideration Transferred	(100)
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, Low	300
Future contingent consideration payment	2,400
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability	1,200
Payment for Contingent Consideration Liability, Investing Activities	$ 200
Identifiable intangible assets acquired		$ 877
Goodwill		7,356
Total assets acquired, net		12,666
Developed technology \| Camo Analytics AS
Acquisition
Identifiable intangible assets acquired		2,533
Customer relationships \| Camo Analytics AS
Acquisition
Identifiable intangible assets acquired		$ 1,900

Acquisitions - OptiPlant, Inc. (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Dec. 08, 2020	Nov. 17, 2020	Jun. 30, 2020
Business Acquisition [Line Items]
Payment for Contingent Consideration Liability, Investing Activities	$ 1,200
Goodwill	159,852			$ 137,055
OptiPlant, Inc
Business Acquisition [Line Items]
Business Combination, Consideration Transferred	8,200
Payments to Acquire Businesses, Gross	6,800
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, Low	200
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	1,200
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		$ 44
Goodwill		6,252
Deferred tax liabilities		(545)
Total assets acquired, net		8,226
OptiPlant, Inc \| Developed technology
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		1,485
OptiPlant, Inc \| Customer relationships
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		$ 990
Camo Analytics AS
Business Acquisition [Line Items]
Business Combination, Consideration Transferred	12,700
Payments to Acquire Businesses, Gross	10,000
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, Low	300
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	2,400
Payment for Contingent Consideration Liability, Investing Activities	$ 200
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles			$ 877
Goodwill			7,356
Total assets acquired, net			12,666
Camo Analytics AS \| Developed technology
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles			2,533
Camo Analytics AS \| Customer relationships
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles			$ 1,900

Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 67,879	$ 60,970
Accumulated Amortization	(24,644)	(16,969)
Effect of Currency Translation	1,092	(1,150)
Net Carrying Amount	44,327	42,851
Technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	55,288	51,269
Accumulated Amortization	(19,378)	(13,245)
Effect of Currency Translation	911	(842)
Net Carrying Amount	36,821	37,182
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	12,038	9,148
Accumulated Amortization	(4,713)	(3,171)
Effect of Currency Translation	181	(308)
Net Carrying Amount	7,506	5,669
Non-compete agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	553	553
Accumulated Amortization	(553)	(553)
Effect of Currency Translation	0	0
Net Carrying Amount	$ 0	$ 0

Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible asset amortization expense	$ 7,700	$ 6,600	$ 4,500
Amortization expense - 2022	8,190
Amortization expense - 2023	8,173
Amortization expense - 2024	7,633
Amortization expense - 2025	7,548
Amortization expense - 2026	5,314
Amortization expense - Thereafter	7,469
Finite Lived Intangible Assets Future Amortization Expense	$ 44,327

Goodwill - Schedule of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Goodwill:
Goodwill	$ 159,852	$ 137,055
Subscription and software
Goodwill:
Goodwill, gross carrying amount	207,850	145,572
Goodwill, accumulated impairment losses	(65,569)	(65,569)
Goodwill	159,852	137,055	$ 78,383
Goodwill from acquisitions, net of adjustments	13,608	62,278
Goodwill, effect of currency translation	3,963	(5,226)	(1,620)
Goodwill, gross carrying amount	221,458	207,850	145,572
Goodwill, accumulated impairment losses	(65,569)	(65,569)	$ (65,569)
Goodwill Foreign Currency Translation Gain Loss [Member] \| Subscription and software
Goodwill:
Goodwill, effect of currency translation	$ 9,189	$ (3,606)

Goodwill - Narrative (Details)	12 Months Ended
Goodwill - Narrative (Details)	Jun. 30, 2021 USD ($) triggering_event	Jun. 30, 2020 triggering_event
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment loss recognized \| $	$ 0
Number of triggering events indicating goodwill impairment occurred \| triggering_event	0	0

Accrued Expenses and Other Liabilities - Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Accrued expenses and other current liabilities
Compensation-related	$ 4,353	$ 0
Uncertain tax positions	2,862	1,479
Deferred acquisition payments	26,442	27,591
Share repurchases	1,087	318
Professional fees	2,964	2,115
Deferred rent	3,642	3,359
Other	9,225	8,694
Total accrued expenses and other current liabilities	$ 50,575	$ 43,556

Accrued Expenses and Other Liabilities - Other Non-Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Other non-current liabilities
Uncertain tax positions	$ 1,343	$ 2,027
Deferred acquisition payments	1,200	0
Asset retirement obligations	947	920
Other	270	160
Total other non-current liabilities	$ 3,760	$ 3,107

Credit Agreement - Narrative (Details) - USD ($) $ in Thousands	Dec. 23, 2019	Jun. 30, 2021	Jun. 30, 2020
Line of Credit Facility [Line Items]
Total		$ 296,000
Variable rate spread (as a percent)	0.50%
Margin rate (as a percent)	0.50%
Current borrowings		20,000	$ 135,163
Non-current borrowings, net		273,162	292,369
Debt Issuance Costs, Line of Credit Arrangements, Net		$ 2,800	3,600
Maximum leverage ratio		3.50
Minimum interest coverage ratio		2.50
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Total	$ 200,000
Current borrowings			119,200
Secured Debt [Member]
Line of Credit Facility [Line Items]
Current borrowings		$ 20,000	16,000
Adjusted LIBOR
Line of Credit Facility [Line Items]
Variable rate spread (as a percent)	1.00%
Margin rate (as a percent)	1.50%
Secured Debt [Member]
Line of Credit Facility [Line Items]
Total	$ 320,000
Effective interest rate (as a percent)		1.61%
Term Loan Facility, Amount Outstanding		$ 296,000
Non-current borrowings, net		$ 276,000	$ 296,000

Credit Agreement Maturities of Term Loan Facility (Details) $ in Thousands	Jun. 30, 2021 USD ($)
Debt Disclosure [Abstract]
2022	$ 20,000
2023	28,000
2024	36,000
2025	212,000
Total	$ 296,000

Stock-Based Compensation - Stock Compensation Plans and General Award Terms (Details) - USD ($) $ in Thousands		6 Months Ended	12 Months Ended
	Jul. 26, 2018	Jun. 30, 2019	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2017
Stock-based compensation, additional disclosures
Common stock reserved for future issuance or settlement (in shares)			5,500,000
Share-based Payment Arrangement, Expense			$ 33,644
2016 Plan
Stock-based compensation, additional disclosures
Maximum number of shares authorized (in shares)					6,000,000
Common stock reserved for future issuance or settlement (in shares)			5,451,500
2018 Employee Stock Purchase Plan
Stock-based compensation, additional disclosures
Maximum number of shares authorized (in shares)	250,000
Common stock reserved for future issuance or settlement (in shares)			199,231
Purchase price of common stock, percent	85.00%
Offering period	6 months
Share-based Payment Arrangement, Expense			$ 600	$ 500
Stock Issued During Period, Shares, Employee Stock Ownership Plan		19,222	18,508
Stock Issued During Period, Value, Employee Stock Purchase Plan		$ 1,800	$ 1,900
Stock Options
General award terms
Award vesting period			4 years
Stock Options \| Minimum
General award terms
Contractual terms			7 years
Stock Options \| Maximum
General award terms
Contractual terms			10 years
Restricted Stock Units
General award terms
Award vesting period			4 years

Stock-Based Compensation - Stock-Based Compensation Accounting (Details) - Stock Options - $ / shares	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Weighted average assumptions
Weighted average fair value (in dollars per share)	$ 38.84	$ 33.13	$ 31.25
Risk-free interest rate (as a percent)	0.40%	1.50%	2.80%
Expected dividend yield (as a percent)	0.00%	0.00%	0.00%
Expected life (in years)	4 years 8 months 12 days	4 years 6 months	4 years 7 months 6 days
Expected volatility factor (as a percent)	34.20%	26.80%	26.60%

Stock-Based Compensation - Stock Based Compensation Expense and its Classification in the Consolidated Statement of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Recorded as expenses:
Total stock-based compensation	$ 33,644
Cost of maintenance
Recorded as expenses:
Total stock-based compensation	896
Cost of services and other
Recorded as expenses:
Total stock-based compensation	1,613
Selling and marketing
Recorded as expenses:
Total stock-based compensation	6,567
Research and development
Recorded as expenses:
Total stock-based compensation	8,987
General and administrative
Recorded as expenses:
Total stock-based compensation	$ 15,581
Accounting Standards Update 2014-09 (Topic 606) [Member]
Recorded as expenses:
Total stock-based compensation		$ 31,548	$ 27,573
Accounting Standards Update 2014-09 (Topic 606) [Member] \| Cost of maintenance
Recorded as expenses:
Total stock-based compensation		1,441	1,282
Accounting Standards Update 2014-09 (Topic 606) [Member] \| Cost of services and other
Recorded as expenses:
Total stock-based compensation		1,961	1,420
Accounting Standards Update 2014-09 (Topic 606) [Member] \| Selling and marketing
Recorded as expenses:
Total stock-based compensation		5,656	4,849
Accounting Standards Update 2014-09 (Topic 606) [Member] \| Research and development
Recorded as expenses:
Total stock-based compensation		8,306	6,923
Accounting Standards Update 2014-09 (Topic 606) [Member] \| General and administrative
Recorded as expenses:
Total stock-based compensation		$ 14,184	$ 13,099

Stock-Based Compensation - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Stock Options
Stock options activity
Outstanding, beginning of period (in shares)	1,410,139
Granted (in shares)	327,209
Exercised (in shares)	(405,532)
Cancelled / Forfeited (in shares)	(46,595)
Outstanding, end of period (in shares)	1,285,221	1,410,139
Vested and exercisable, end of period (in shares)	812,704
Vested and expected to vest, end of period (in shares)	1,231,660
Weighted Average Exercise Price
Outstanding, beginning of period (in dollars per share)	$ 76.19
Granted (in dollars per share)	131.57	$ 133.00	$ 113.88
Exercised (in dollars per share)	59.16
Cancelled / Forfeited (in dollars per share)	116.81
Outstanding, end of period (in dollars per share)	94.18	$ 76.19
Vested and exercisable, end of period (in dollars per share)	73.83
Vested and expected to vest, end of period (in dollars per share)	$ 92.72
Weighted Average Remaining Contractual Term
Outstanding, end of period	6 years 11 months 4 days	6 years 8 months 1 day
Vested and exercisable, end of period	5 years 10 months 9 days
Vested and expected to vest, end of period	6 years 10 months 9 days
Aggregate Intrinsic Value
Outstanding, beginning of period	$ 49,705
Outstanding, end of period	56,032	$ 49,705
Vested and exercisable, end of period	51,793
Vested and expected to vest, end of period	$ 55,523
Weighted Average Grant Date Fair Value
Expected life (in years)	4 years 8 months 12 days	4 years 6 months	4 years 7 months 6 days
Restricted Stock Units
Restricted stock units activity
Outstanding, beginning of period (in shares)	352,921
Granted (in shares)	248,366
Settled (in shares)	(198,219)
Cancelled / Forfeited (in shares)	(41,044)
Outstanding, end of period (in shares)	362,024	352,921
Vested and expected to vest (in shares)	314,455
Weighted Average Grant Date Fair Value
Outstanding, beginning of period (in dollars per share)	$ 112.45
Granted (in dollars per share)	131.31	$ 133.35	$ 114.72
Settled (RSUs) (in dollars per share)	105.50
Cancelled / Forfeited (in dollars per share)	117.36
Outstanding, end of period (in dollars per share)	$ 128.66	$ 112.45
Vested and expected to vest, end of period (in dollars per share)	128.78

Stock-Based Compensation - Additional Disclosures (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of shares of common stock	$ 26,096	$ 9,004	$ 10,864
Payments related to tax withholding	$ 9,172	$ 10,167	$ 14,477
Common stock reserved for future issuance or settlement (in shares)	5.5
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in dollars per share)	$ 131.31	$ 133.35	$ 114.72
Total fair value of shares vested from RSU grants	$ 27,000	$ 29,700	$ 39,900
Total unrecognized compensation cost	$ 32,500
Total unrecognized compensation cost, period of recognition	2 years 5 months 19 days
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost	$ 12,900
Total unrecognized compensation cost, period of recognition	2 years 6 months 18 days
Granted (in dollars per share)	$ 131.57	$ 133.00	$ 113.88
Total intrinsic value of options exercised	$ 32,900	$ 9,900	$ 18,200
Issuance of shares of common stock	24,200	9,000	10,900
Payments related to tax withholding	$ 9,200	$ 10,200	$ 14,700

Stock Repurchases - Narrative (Details) - USD ($)	12 Months Ended
Stock Repurchases - Narrative (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019	Jun. 14, 2021	Jul. 22, 2020	Apr. 17, 2019	Dec. 06, 2018	Apr. 18, 2018	Jun. 08, 2017	Apr. 26, 2016	Jan. 22, 2015
Common Stock
Approved stock repurchase program, authorized amount				$ 300,000,000.0	$ 200,000,000.0	$ 200,000,000.0	$ 100,000,000.0	$ 200,000,000.0	$ 200,000,000.0	$ 400,000,000.0	$ 450,000,000.0
Repurchase of common stock (in shares)	361,239	1,252,289	3,074,127
Repurchase of common stock, amount	$ 50,000,000	$ 150,000,000	$ 300,000,000
Open Market Transaction [Member]
Common Stock
Repurchase of common stock, amount	50,000,000.0	$ 150,000,000.0
FY 2021 Program
Common Stock
Remaining capacity under the stock repurchase program	0
FY 2022 Program
Common Stock
Remaining capacity under the stock repurchase program	$ 300,000,000.0

Net Income Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Treasury Stock, Value, Acquired, Cost Method									$ 50,000	$ 150,000	$ 300,000
Net income	$ 95,445	$ 62,495	$ 129,152	$ 32,711	$ 94,530	$ 41,826	$ 39,801	$ 53,514	$ 319,803	$ 229,671	$ 261,362
Basic (in shares)	68,028,000	67,920,000	67,780,000	67,729,000	67,634,000	67,806,000	68,114,000	68,441,000	67,863,000	68,000,000	69,925,000
Dilutive impact from employee equity awards									629,000	727,000	862,000
Diluted (in shares)	68,612,000	68,608,000	68,400,000	68,299,000	68,176,000	68,482,000	68,844,000	69,317,000	68,492,000	68,727,000	70,787,000
Basic (in dollars per share)	$ 1.40	$ 0.92	$ 1.91	$ 0.48	$ 1.40	$ 0.62	$ 0.58	$ 0.78	$ 4.71	$ 3.38	$ 3.74
Diluted (in dollars per share)	$ 1.39	$ 0.91	$ 1.89	$ 0.48	$ 1.39	$ 0.61	$ 0.58	$ 0.77	$ 4.67	$ 3.34	$ 3.69
Share-based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount									269,341
Share-based Payment Arrangement [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount									533,000	670,000	784,000
Share-based Payment Arrangement, Option [Member]
Share-based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit									$ 132.63
Share-based Payment Arrangement, Option, Exercise Price Range, Upper Range Limit									$ 153.07

Income Taxes - Income (Loss) before Provision For (Benefit From) Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Income (loss) before provision for income taxes
Domestic	$ 376,582	$ 274,066	$ 297,002
Foreign	8,164	5,291	4,525
Income before provision for income taxes	384,746	279,357	301,527
Federal
Current	45,643	17,048	64,194
Deferred	13,039	28,101	(27,267)
State
Current	2,821	1,367	3,246
Deferred	(41)	500	(1,033)
Foreign
Current	4,004	2,797	1,549
Deferred	(522)	(127)	(524)
Provision for income taxes	$ 64,944	$ 49,686	$ 40,165

Income Taxes - Provision For (Benefit From) Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Income Tax Reconciliation
Federal tax provision at statutory rate	$ 80,797	$ 58,665	$ 63,321
State income taxes	2,226	1,225	1,533
Foreign-derived intangible income (FDII)	(13,805)	(13,581)	(20,326)
Global intangible low-taxed income (GILTI)	49	404	797
Effect of foreign operations	8,950	6,148	7,395
Impact of tax accounting method change	0	6,433	0
Foreign taxes and rate differences	(566)	404	514
Stock-based compensation	(2,415)	33	(3,774)
Tax credits	(11,301)	(7,969)	(9,677)
Uncertain tax positions	89	(3,236)	1,055
Valuation allowance	1,171	504	(550)
Other, net	(251)	656	(123)
Provision for income taxes	$ 64,944	$ 49,686	$ 40,165

Income Taxes - Deferred Tax Assets (Liabilities) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Deferred tax assets:
State and foreign credits	$ 6,684	$ 4,922
Net operating loss carryforwards	4,511	1,200
Contract assets and costs	(182,809)	(158,538)
Deferred revenue	3,876	4,596
Other reserves and accruals	8,663	7,465
Intangible assets	957	982
Property, leasehold improvements, and other basis differences	5,202	5,514
Other temporary differences	452	925
Deferred tax assets, total	30,345	25,604
Deferred tax liabilities:
Deferred revenue	(15,944)	(27,066)
Intangible assets	(7,795)	(6,815)
Property, leasehold improvements, and other basis differences	(5,122)	(5,223)
Deferred tax liabilities, gross	211,670	197,642
Deferred tax liabilities, total	(191,239)	(178,243)
Valuation allowance	$ (9,914)	$ (6,205)

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Tax Credit Carryforward
Deferred tax assets, valuation allowance	$ 9,914	$ 6,205
Unrecognized Tax Benefits	2,138	$ 2,106	$ 5,380	$ 3,931
Unrecognized tax benefits that if recognized would reduce the effective tax rate	1,900
Accrued interest	300
Accrued penalties related to uncertain tax positions	100
Benefit for interest and penalties	100
Foreign
Tax Credit Carryforward
Net operating loss carryforwards	4,500
Research and development tax credit carryforward \| State and Local Jurisdiction [Member]
Tax Credit Carryforward
Tax credit carryforward	5,400
Research and development tax credit carryforward \| State and Local Jurisdiction [Member]
Tax Credit Carryforward
Tax credit carryforward	$ 6,700

Income Taxes - Reconciliation of the Reserve For Uncertain Tax Positions (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Reconciliation of the reserve for uncertain tax positions
Uncertain tax positions, beginning of year	$ 2,106	$ 5,380	$ 3,931
Gross (decreases) increases - tax positions in prior period	0	(2,216)	407
Gross increases—tax positions in current period	304	0	1,789
Gross decreases—lapse of statutes	(317)	(1,032)	(740)
Currency translation adjustment	45	(26)	(7)
Uncertain tax positions, end of year	$ 2,138	$ 2,106	$ 5,380

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2021	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Standby letters of credit	$ 2.3	$ 3.5

Retirement Plans - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Retirement Benefits [Abstract]
Employer matching contributions (as a percent)	50.00%
Maximum employee's pretax contribution that can be matched (as a percent)	6.00%
Employer matching contributions	$ 3.4	$ 2.8	$ 2.6

Segment and Geographic Information - Narrative (Details) $ in Millions	12 Months Ended
	Jun. 30, 2021 USD ($) segments	Jun. 30, 2020 USD ($)
Geographic Information
Number of operating segments \| segments	2
Number of reportable segments \| segments	2
United States
Geographic Information
Long-lived assets \| $	$ 89.1	$ 92.9
Other geographic locations
Geographic Information
Long-lived assets \| $	$ 160.3	$ 132.4

Segment and Geographic Information - Summary of Segments' Profits (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Summary of operating segments
Income from operations	$ 105,879	$ 68,899	$ 149,453	$ 34,170	$ 116,296	$ 44,734	$ 42,939	$ 53,390	$ 358,401	$ 257,359	$ 281,139
Operating segments
Summary of operating segments
Segment revenue									709,376	598,717	596,682
Segment expenses									(269,339)	(268,323)	(252,312)
Income from operations									440,037	330,394	344,370
Operating segments \| Subscription and software
Summary of operating segments
Segment revenue									682,643	566,319	568,148
Segment expenses									(236,751)	(233,205)	(220,764)
Income from operations									445,892	333,114	347,384
Operating segments \| Services and other
Summary of operating segments
Segment revenue									26,733	32,398	28,534
Segment expenses									(32,588)	(35,118)	(31,548)
Income from operations									$ (5,855)	$ (2,720)	$ (3,014)

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

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+ Details

Segment and Geographic Information - Reconciliation of Total Segment Operating Profit (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Reconciliation to Income Before Income Taxes
Total segment profit from reportable segments	$ 105,879	$ 68,899	$ 149,453	$ 34,170	$ 116,296	$ 44,734	$ 42,939	$ 53,390	$ 358,401	$ 257,359	$ 281,139
General and administrative									(81,636)	(73,035)	(63,231)
Interest income									36,791	32,658	28,457
Interest (expense)									(7,245)	(11,862)	(8,733)
Other (expense) income, net									(3,200)	1,202	664
Income before income taxes									384,747	279,357	301,527
Operating segments
Reconciliation to Income Before Income Taxes
Total segment profit from reportable segments									440,037	330,394	344,370
Segment reconciling items
Reconciliation to Income Before Income Taxes
General and administrative									(81,636)	(73,035)	(63,231)
Interest income									36,791	32,658	28,457
Interest (expense)									(7,245)	(11,862)	(8,733)
Other (expense) income, net									$ (3,200)	$ 1,202	$ 664

Quarterly Financial Data (Unaudited) - (Details) - $ / shares shares in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share, Basic and Diluted [Abstract]
Basic (in dollars per share)	$ 1.40	$ 0.92	$ 1.91	$ 0.48	$ 1.40	$ 0.62	$ 0.58	$ 0.78	$ 4.71	$ 3.38	$ 3.74
Diluted (in dollars per share)	$ 1.39	$ 0.91	$ 1.89	$ 0.48	$ 1.39	$ 0.61	$ 0.58	$ 0.77	$ 4.67	$ 3.34	$ 3.69
Weighted Average Number of Shares Outstanding, Diluted [Abstract]
Basic (in shares)	68,028	67,920	67,780	67,729	67,634	67,806	68,114	68,441	67,863	68,000	69,925
Diluted (in shares)	68,612	68,608	68,400	68,299	68,176	68,482	68,844	69,317	68,492	68,727	70,787

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Accounts Receivable, Allowance for Credit Loss, Current	$ (6,624)	$ (3,349)	$ (2,703)
Additions: Charges to Costs and Expenses	(9,716)	(5,255)	(1,621)
Deductions: Returns and Write-Offs	7,569	1,980	975
Accounts Receivable, Allowance for Credit Loss, Current	$ (8,771)	$ (6,624)	$ (3,349)

Subsequent Events (Details) - FY 2022 Program - Subsequent Event [Member] $ in Millions	Jul. 01, 2021 USD ($)
Subsequent Event [Line Items]
ASR Program, upfront payment	$ 150.0
Initial delivery of underlying shares of common stock, percentage	80.00%

Revenue from Contracts with Customers Transaction Price Allocated to Remaining Performance Obligations (Details) $ in Thousands	Jun. 30, 2021 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01 \| License [Member]
Transaction price allocated to remaining performance obligations	$ 39,300
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01 \| Maintenance
Transaction price allocated to remaining performance obligations	$ 174,981
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01 \| Services and other
Transaction price allocated to remaining performance obligations	$ 46,666
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01 \| License [Member]
Transaction price allocated to remaining performance obligations	$ 16,050
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01 \| Maintenance
Transaction price allocated to remaining performance obligations	$ 135,320
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01 \| Services and other
Transaction price allocated to remaining performance obligations	$ 1,262
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01 \| License [Member]
Transaction price allocated to remaining performance obligations	$ 5,445
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	3 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01 \| Maintenance
Transaction price allocated to remaining performance obligations	$ 102,983
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	3 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01 \| Services and other
Transaction price allocated to remaining performance obligations	$ 611
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	3 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01 \| License [Member]
Transaction price allocated to remaining performance obligations	$ 5,485
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	4 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01 \| Maintenance
Transaction price allocated to remaining performance obligations	$ 68,850
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	4 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01 \| Services and other
Transaction price allocated to remaining performance obligations	$ 424
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	4 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-07-01 \| License [Member]
Transaction price allocated to remaining performance obligations	$ 3,990
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	5 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-07-01 \| Maintenance
Transaction price allocated to remaining performance obligations	$ 37,199
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	5 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-07-01 \| Services and other
Transaction price allocated to remaining performance obligations	$ 380
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	5 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-07-01 \| License [Member]
Transaction price allocated to remaining performance obligations	$ 106
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-07-01 \| Maintenance
Transaction price allocated to remaining performance obligations	$ 12,134
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-07-01 \| Services and other
Transaction price allocated to remaining performance obligations	$ 123
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period