0001897982-24-000029 | 10-Q | XBRL Viewer

Net Income Per Share (Tables)

9 Months Ended

Mar. 31, 2024

Schedule of calculations of basic and diluted net income per share and basic and dilutive weighted average shares outstanding

The calculations of basic and diluted net loss per share and basic and diluted weighted average shares outstanding for the three and nine months ended March 31, 2024 and 2023 are as follows:


	Three Months Ended March 31,				Nine Months Ended March 31,
	2024		2023		2024		2023

	(Dollars and Shares in Thousands, Except per Share Data)
Net income (loss)	$	1,556	$	(57,635)	$	(54,469)	$	(135,076)

Basic weighted average shares outstanding	63,508		64,796		63,844		64,622

Dilutive impact from:
Employee equity awards	294		—		—		—
Dilutive weighted average shares outstanding	63,802		64,796		63,844		64,622

Net income (loss) per share
Basic	$	0.02	$	(0.89)	$	(0.85)	$	(2.09)
Dilutive	$	0.02	$	(0.89)	$	(0.85)	$	(2.09)

Schedule of employee equity awards excluded from the calculation of dilutive weighted average shares outstanding

The following employee equity awards were excluded from the calculation of diluted weighted average shares outstanding because their effect would be anti-dilutive as of March 31, 2024 and 2023:


	Three Months Ended March 31,		Nine Months Ended March 31,
	2024	2023	2024	2023

	(Shares in Thousands)
Employee equity awards	1,242	1,441	1,192	1,367

Label

Element

Value

Net Cash Provided by (Used in) Operating Activities

us-gaap_NetCashProvidedByUsedInOperatingActivities

$ 184,950,000

Restricted Stock Units (RSUs) [Member]

Share-Based Payment Arrangement, Activity [Table Text Block]

us-gaap_ScheduleOfShareBasedCompensationActivityTableTextBlock

The table below summarizes activities related to restricted stock units and performance stock units for the nine months ended March 31, 2024:


	Number of Shares Underlying Performance Stock Units		Number of Shares Underlying Restricted Stock Units

	(Dollars in Thousands)
Outstanding as of June 30, 2023	—		456,368
Granted	94,174		190,426
Settled	—		(268,705)
Forfeited	(9,446)		(40,789)
Outstanding as of March 31, 2024	84,728		337,300
Weighted average remaining recognition period of outstanding restricted units (in years)	2.25		2.38
Unrecognized stock-based compensation expense of outstanding restricted units	$	8,295	$	50,982
Aggregate intrinsic value of outstanding restricted units	$	12,684	$	69,872

Credit Agreement	9 Months Ended
Credit Agreement	Mar. 31, 2024
Debt Disclosure [Abstract]
Credit Agreement	Debt Credit Agreement with Related Party On December 23, 2022, the Company entered into a credit agreement with Emerson (the “Emerson Credit Agreement”), which provided for an aggregate term loan commitment of $630.0 million. Under the terms of the Emerson Credit Agreement, the Company would have used the proceeds from borrowings under the Emerson Credit Agreement to pay, in part, the cash consideration for funding the acquisition of Mining Software Holdings Pty Ltd (“Micromine”) and to pay the fees and expenses incurred in connection with the Emerson Credit Agreement. On August 18, 2023, the Emerson Credit Agreement was terminated in connection with the termination of the agreement to purchase Micromine. There was no amount outstanding under the Emerson Credit Agreement at the time it was terminated. Amended and Restated Credit Agreement The Company has an Amended and Restated Credit Agreement (the “Amended and Restated Credit Agreement”) with JPMorgan Chase Bank, N.A. (“JPMorgan”) that provides for a $200.0 million secured revolving credit facility. As of March 31, 2024, after considering eligible outstanding letters of credit allowable per the Amended and Restated Credit Agreement in the aggregate amount of $2.3 million, the Company had $197.7 million available for borrowing under the Amended and Restated Credit Agreement. Any outstanding balances of the indebtedness under the revolving credit facility will mature on December 23, 2024. The Amended and Restated Credit Agreement contains customary affirmative and negative covenants, including restrictions on incurring additional debt, liens, fundamental changes, asset sales, restricted payments (including dividends) and transactions with affiliates. There are also financial covenants measured at the end of each fiscal quarter including a maximum leverage ratio of 3.50 to 1.00 and a minimum interest coverage ratio of 2.50 to 1.00. As of March 31, 2024, the Company was 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.

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+ Details

Revenue from Contracts with Customers Transaction Price Allocated to Remaining Performance Obligations (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Transaction Price Allocated to Remaining Performance Obligations, Amount	$ 1,282,876
FY24
Transaction Price Allocated to Remaining Performance Obligations, Amount	183,366
FY25
Transaction Price Allocated to Remaining Performance Obligations, Amount	461,048
FY26
Transaction Price Allocated to Remaining Performance Obligations, Amount	284,356
FY27
Transaction Price Allocated to Remaining Performance Obligations, Amount	177,128
FY28
Transaction Price Allocated to Remaining Performance Obligations, Amount	108,634
FY29
Transaction Price Allocated to Remaining Performance Obligations, Amount	68,344
License and solutions
Transaction Price Allocated to Remaining Performance Obligations, Amount	273,294
License and solutions \| FY24
Transaction Price Allocated to Remaining Performance Obligations, Amount	75,529
License and solutions \| FY25
Transaction Price Allocated to Remaining Performance Obligations, Amount	116,533
License and solutions \| FY26
Transaction Price Allocated to Remaining Performance Obligations, Amount	50,467
License and solutions \| FY27
Transaction Price Allocated to Remaining Performance Obligations, Amount	20,546
License and solutions \| FY28
Transaction Price Allocated to Remaining Performance Obligations, Amount	7,495
License and solutions \| FY29
Transaction Price Allocated to Remaining Performance Obligations, Amount	2,724
Maintenance
Transaction Price Allocated to Remaining Performance Obligations, Amount	861,113
Maintenance \| FY24
Transaction Price Allocated to Remaining Performance Obligations, Amount	84,621
Maintenance \| FY25
Transaction Price Allocated to Remaining Performance Obligations, Amount	275,169
Maintenance \| FY26
Transaction Price Allocated to Remaining Performance Obligations, Amount	200,500
Maintenance \| FY27
Transaction Price Allocated to Remaining Performance Obligations, Amount	141,483
Maintenance \| FY28
Transaction Price Allocated to Remaining Performance Obligations, Amount	94,010
Maintenance \| FY29
Transaction Price Allocated to Remaining Performance Obligations, Amount	65,330
Services and other
Transaction Price Allocated to Remaining Performance Obligations, Amount	148,469
Services and other \| FY24
Transaction Price Allocated to Remaining Performance Obligations, Amount	23,216
Services and other \| FY25
Transaction Price Allocated to Remaining Performance Obligations, Amount	69,346
Services and other \| FY26
Transaction Price Allocated to Remaining Performance Obligations, Amount	33,389
Services and other \| FY27
Transaction Price Allocated to Remaining Performance Obligations, Amount	15,099
Services and other \| FY28
Transaction Price Allocated to Remaining Performance Obligations, Amount	7,129
Services and other \| FY29
Transaction Price Allocated to Remaining Performance Obligations, Amount	$ 290

Segment Information

9 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Segment Information

Segment and Geographic Information

The Company operates in one operating and reportable segment. The Company’s chief operating decision maker is its President and Chief Executive Officer, who makes operating decisions, assesses performance and allocates resources on a consolidated basis.

Geographic Information

Summarized below is information about the Company’s geographic operations:


	Revenue by Destination
	Three Months Ended March 31,				Nine Months Ended March 31,
	2024		2023		2024		2023

	(Dollars in Thousands)
Americas	$	121,704	$	115,614	$	403,078	$	360,935
Asia, Middle East and Africa	78,165		58,881		192,880		174,595
Europe	78,237		55,383		188,619		188,005
Total	$	278,106	$	229,878	$	784,577	$	723,535

Americas included revenue in the United States of $104.1 million and $89.4 million for the three months ended March 31, 2024 and 2023, respectively, and $332.8 million and $289.9 million for the nine months ended March 31, 2024 and 2023, respectively.


	Property, Equipment, and
	Leasehold Improvements, Net
	March 31, 2024		June 30, 2023

	(Dollars in Thousands)
Americas	$	13,438	$	15,793
Asia, Middle East and Africa	1,775		1,923
Europe	1,201		954
Total	$	16,414	$	18,670

Property, equipment, and leasehold improvements, net located in the United States were $11.3 million and $13.4 million as of March 31, 2024 and June 30, 2023, respectively.

- 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

Stock-Based Compensation (Tables)

9 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of stock-based compensation expense

The stock-based compensation expense under all equity plans and its classification in the condensed consolidated statements of operations for the three and nine months ended March 31, 2024 and 2023 are as follows:


	Three Months Ended March 31,				Nine Months Ended March 31,
	2024		2023		2024		2023

	(Dollars in Thousands)
Cost of license and solutions	$	522	$	832	$	1,804	$	2,752
Cost of maintenance	667		427		1,884		1,462
Cost of services and other	731		599		1,589		1,457
Selling and marketing	2,463		3,695		8,112		10,886
Research and development	3,343		5,972		11,615		13,831
General and administrative	5,181		11,318		20,813		33,632
Total stock-based compensation	$	12,907	$	22,843	$	45,817	$	64,020

Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible asset amortization expense	$ 122,000	$ 121,700	$ 365,400	$ 364,200
Intangible assets, net	$ 4,306,689		$ 4,306,689		$ 4,659,657

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Net income (loss)	$ 1,556	$ (57,635)	$ (54,469)	$ (135,076)
Other comprehensive (loss) income:
Foreign currency translation adjustments	(1,104)	5,845	(7,435)	3,690
Total other comprehensive (loss) income	(1,104)	5,845	(7,435)	3,690
Comprehensive income (loss)	$ 452	$ (51,790)	$ (61,904)	$ (131,386)

- 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

Revenue from Contracts with Customers (Tables)

9 Months Ended

Mar. 31, 2024

Revenue from Contracts with Customers [Abstract]

Disaggregation of Revenue [Table Text Block]

The table below reflects disaggregated revenues by business for the three months and nine months ended March 31, 2024 and 2023:


	Three Months Ended March 31,				Nine Months Ended March 31,
	2024		2023		2024		2023

	(Dollars in Thousands)
Heritage AspenTech	$	178,621	$	155,481	$	521,801	$	499,328
Subsurface Science & Engineering	43,665		36,854		96,320		99,569
DGM	55,820		37,543		166,456		124,638
Total	$	278,106	$	229,878	$	784,577	$	723,535

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

The Company’s contract assets and contract liabilities were as follows as of March 31, 2024 and June 30, 2023:


	March 31, 2024		June 30, 2023

	(Dollars in Thousands)
Contract assets	$	907,196	$	903,643
Contract liabilities	(167,952)		(181,553)
Net contract assets	$	739,244	$	722,090

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

The following table includes the aggregate amount of the transaction price allocated as of March 31, 2024 to the performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period:


	Year Ending June 30,
	2024		2025		2026		2027		2028		Thereafter		Total

	(Dollars in Thousands)
License and solutions	$	75,529	$	116,533	$	50,467	$	20,546	$	7,495	$	2,724	$	273,294
Maintenance	84,621		275,169		200,500		141,483		94,010		65,330		861,113
Services and other	23,216		69,346		33,389		15,099		7,129		290		148,469
Total	$	183,366	$	461,048	$	284,356	$	177,128	$	108,634	$	68,344	$	1,282,876

Goodwill

9 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The changes in the carrying amount of goodwill during the nine months ended March 31, 2024 were as follows:


	Carrying Value
	(Dollars in Thousands)
Balance as of June 30, 2023	$	8,330,811
Foreign currency translation	(1,312)
Balance as of March 31, 2024	$	8,329,499

Intangible Assets (Policies)

9 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Intangible assets consist of the following as of March 31, 2024 and June 30, 2023:


	March 31, 2024
	Developed Technology		Trademarks		Customer Relationships and Backlog		Capitalized Software and Other		Total

	(Dollars in Thousands)
Gross carrying amount	$	1,903,599	$	464,400	$	3,082,541	$	24,026	$	5,474,566
Less: Accumulated amortization	(484,828)		(24,047)		(649,197)		(9,805)		(1,167,877)
Net carrying amount	$	1,418,771	$	440,353	$	2,433,344	$	14,221	$	4,306,689

	June 30, 2023
	Developed Technology		Trademarks		Customer Relationships and Backlog		Capitalized Software and Other		Total

	(Dollars in Thousands)
Gross carrying amount	$	1,903,599	$	464,400	$	3,082,541	$	11,526	$	5,462,066
Less: Accumulated amortization	(341,964)		(13,821)		(437,673)		(8,951)		(802,409)
Net carrying amount	$	1,561,635	$	450,579	$	2,644,868	$	2,575	$	4,659,657

Of the total intangible assets net carrying amount of $4.3 billion as of March 31, 2024, $430.0 million relates to the registered trademarks associated with the Transaction (as defined in Note 15, “Related-Party Transactions”) that are not subject to amortization. Total intangible asset amortization expense was $122.0 million and $121.7 million during the three months ended March 31, 2024 and 2023, respectively, and $365.4 million and $364.2 million during the nine months ended March 31, 2024 and 2023, respectively.

Comprehensive Text Block List (Tables)

9 Months Ended

Mar. 31, 2024

Text Block [Abstract]

Restructuring and Related Costs

Allocations and charges from Emerson are as follows:


	Three Months Ended March 31,				Nine Months Ended March 31,
	2024		2023		2024		2023

	(Dollars in Thousands)

Information technology	$	176	$	677	$	1,522	$	2,251

Shared services and other	$	262	$	850	$	807	$	4,745

Investments in and Advances to Affiliates


	Three Months Ended March 31,				Nine Months Ended March 31,
	2024		2023		2024		2023

	(Dollars in Thousands)
Revenue from Emerson affiliates	$	351	$	4	$	661	$	12

Purchases from Emerson affiliates	$	124	$	116	$	313	$	331

Schedule of Accounts Payable and Accrued Liabilities

Receivables from related parties and due to related parties reported in the condensed consolidated balance sheets as of March 31, 2024 and June 30, 2023 include the following:


	March 31, 2024		June 30, 2023

	(Dollars in Thousands)
Interest bearing receivables from related parties	$	68,767	$	61,948
Trade receivables from related parties	330		427
Receivables from related parties	$	69,097	$	62,375

Interest bearing payables to related parties	$	67,805	$	21,866
Trade payables to related parties	149		153
Due to related parties	$	67,954	$	22,019

Comprehensive Text Block List (Details) $ in Thousands		3 Months Ended		9 Months Ended
Comprehensive Text Block List (Details) $ in Thousands	Oct. 10, 2021 USD ($)	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Jul. 28, 2023 USD ($)	Jun. 30, 2023 USD ($)	Dec. 23, 2022 USD ($)
Payment for Plantweb Optics Analytics						$ 12,500
Maximum leverage ratio		3.50		3.50
Minimum interest coverage ratio		2.50		2.50
Receivables from related parties		$ 69,097		$ 69,097			$ 62,375
Due to related parties		67,954		67,954			22,019
Receivables from related parties		69,097		69,097			62,375
Due to related parties		67,954		67,954			22,019
Heritage AspenTech
Consideration transferred	$ 6,014,000
Emerson Electric Co.
Text Block [Abstract]
Purchases from Emerson affiliates		124	$ 116	313	$ 331
Revenue from Emerson affiliates		351	4	661	12
Principal amount								$ 630,000
Purchases from Emerson affiliates		124	116	313	331
Revenue from Emerson affiliates		$ 351	4	$ 661	12
Emerson Electric Co. \| Heritage AspenTech
Text Block [Abstract]
Business Acquisition, Percentage of Voting Interests Acquired		56.00%		56.00%
Business Acquisition, Percentage of Voting Interests Acquired		56.00%		56.00%
Information technology
Payments of Distributions to Affiliates		$ 176	677	$ 1,522	2,251
Shared services and other
Payments of Distributions to Affiliates		262	$ 850	807	$ 4,745
Related Party
Financing Receivable, after Allowance for Credit Loss		68,767		68,767			61,948
Accounts Receivable, after Allowance for Credit Loss		330		330			427
Accounts Payable		149		149			153
Notes Payable		67,805		67,805			21,866
Receivables from related parties		69,097		69,097			62,375
Due to related parties		67,954		67,954			22,019
Financing Receivable, after Allowance for Credit Loss		68,767		68,767			61,948
Accounts Receivable, after Allowance for Credit Loss		330		330			427
Notes Payable		67,805		67,805			21,866
Accounts Payable		149		149			153
Receivables from related parties		69,097		69,097			62,375
Due to related parties		$ 67,954		$ 67,954			$ 22,019

Acquisitions - USD ($) $ in Thousands	Oct. 10, 2021	Mar. 31, 2024	Jun. 30, 2023	Aug. 29, 2022
Identifiable intangible assets				$ 31,500
Goodwill		$ 8,329,499	$ 8,330,811	$ 63,000
Heritage AspenTech
Text Block [Abstract]
Consideration transferred	$ 6,014,000

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Interim Unaudited Consolidated Financial Statements - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Jun. 30, 2023
Contractors [Abstract]
Revenue from Contract with Customer, Including Assessed Tax Russia	$ 13.7	$ 7.3	$ 27.7	$ 34.0
Assets Russia	$ 45.8		$ 45.8		$ 39.7
Nature of Operations			Organization and Basis of Presentation AspenTech, together with its subsidiaries (the “Company”), is a leading industrial software company that develops solutions to address complex industrial environments where it is critical to optimize the asset design, operations and maintenance lifecycle. The Company’s unique combination of product capabilities, deep domain expertise and award-winning innovation helps customers across diverse end markets in capital-intensive industries improve their operational excellence while achieving sustainability goals. The Company had revenue from customers in 116 countries during fiscal 2024. Basis of Presentation The Company has prepared the accompanying unaudited condensed consolidated financial statements as of March 31, 2024, and for the third quarter of fiscal 2024 and 2023 pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”) and in accordance with generally accepted accounting principles in the United States (“GAAP”). All intercompany balances and transactions have been eliminated in consolidation. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated and combined financial statements and the notes thereto included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2023. The preparation of financial statements and related disclosures in conformity with GAAP requires us to make judgments, assumptions, and estimates that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. The actual results that the Company experiences may differ materially from these estimates. Russia The Company maintains operations in Russia and licenses software and provides related services to customers in Russia. The Company had revenue in Russia of approximately $13.7 million and $7.3 million for the three months ended March 31, 2024 and 2023, respectively, and $27.7 million and $34.0 million for the nine months ended March 31, 2024 and 2023, respectively. The Company had total assets in Russia of approximately $45.8 million and $39.7 million as of March 31, 2024 and June 30, 2023, respectively, related to operations in Russia. The Company may be required to cease or suspend operations in Russia or we may voluntarily elect to do so, whether as a result of new sanctions and export-control measure packages or otherwise. There is also a risk that the Company may not be able to continue its business in Russia because it is unable to conduct banking activities in Russia. The Company no longer provides engineering services in Russia, and has limited its operations to contract renewals only with existing customers. While the Company continues to evaluate the impact of the various sanctions and restrictions on its ability to conduct business in Russia, access cash held in Russia, maintain contracts with and pay vendors in Russia, pay employees in Russia, and receive payment from customers in Russia, there is no assurance that the Company will be able to do so in the future. Any disruption to, or suspension of, the Company’s business and operations in Russia would result in the loss of revenue or access to cash balances from business in Russia and would negatively impact our growth and profitability. The Company may also suffer reputational harm as a result of continued operations in Russia, which may adversely impact sales and other businesses in other countries.

Organization and Basis of Presentation (Details) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Mar. 31, 2024 USD ($) countries	Mar. 31, 2023 USD ($)	Jun. 30, 2023 USD ($)
Contractors [Abstract]
Revenue from Contract with Customer, Including Assessed Tax Russia	$ 13.7	$ 7.3	$ 27.7	$ 34.0
Assets Russia	$ 45.8		$ 45.8		$ 39.7
us-gaap_NumberOfCountriesInWhichEntityOperates \| countries			116

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Revenue:
Total revenue	$ 278,106	$ 229,878	$ 784,577	$ 723,535
Cost of revenue:
Total cost of revenue	92,942	93,799	285,935	278,027
Gross profit	185,164	136,079	498,642	445,508
Operating expenses:
Selling and marketing	121,303	120,035	365,921	356,260
Research and development	49,334	54,046	156,155	153,741
General and administrative	33,821	40,471	105,315	124,557
Total operating expenses	204,458	214,552	627,391	634,558
Loss from operations	(19,294)	(78,473)	(128,749)	(189,050)
Other expense, net	(1,988)	(13,281)	(8,017)	(33,270)
Interest income, net	13,723	9,969	40,056	19,112
Loss before benefit for income taxes	(7,559)	(81,785)	(96,710)	(203,208)
Benefit for income taxes	(9,115)	(24,150)	(42,241)	(68,132)
Net income (loss)	$ 1,556	$ (57,635)	$ (54,469)	$ (135,076)
Earnings Per Share [Abstract]
Basic	$ 0.02	$ (0.89)	$ (0.85)	$ (2.09)
Diluted	$ 0.02	$ (0.89)	$ (0.85)	$ (2.09)
Weighted average shares outstanding:
Basic	63,508	64,796	63,844	64,622
Diluted	63,802	64,796	63,844	64,622
License and solutions
Revenue:
Total revenue	$ 169,467	$ 136,292	$ 470,578	$ 446,360
Cost of revenue:
Total cost of revenue	65,550	68,980	204,453	209,326
Maintenance
Revenue:
Total revenue	86,256	77,283	256,280	234,277
Cost of revenue:
Total cost of revenue	8,344	9,020	29,192	27,804
Services and other
Revenue:
Total revenue	22,383	16,303	57,719	42,898
Cost of revenue:
Total cost of revenue	$ 19,048	$ 15,799	$ 52,290	$ 40,897

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Current assets:
Cash and cash equivalents	$ 177,592	$ 241,209
Accounts receivable, net	140,469	122,789
Current contract assets, net	378,914	367,539
Prepaid expenses and other current assets	28,697	27,728
Receivables from related parties	69,097	62,375
Prepaid income taxes	0	11,424
Total current assets	794,769	833,064
Property, equipment and leasehold improvements, net	16,414	18,670
Goodwill	8,329,499	8,330,811
Finite-Lived Intangible Assets, Net	4,306,689	4,659,657
Non-current contract assets, net	528,282	536,104
Contract costs	21,049	15,992
Operating lease right-of-use assets	94,353	67,642
Deferred income tax assets	9,843	10,638
Other non-current assets	8,529	13,474
Total assets	14,109,427	14,486,052
Current liabilities:
Accounts payable	9,876	20,299
Accrued expenses and other current liabilities	81,842	99,526
Due to related parties	67,954	22,019
Current operating lease liabilities	13,698	12,928
Income taxes payable	33,999	46,205
Current contract liabilities	134,910	151,450
Total current liabilities	342,279	352,427
Non-current contract liabilities	33,042	30,103
Deferred income tax liabilities	822,197	957,911
Non-current operating lease liabilities	81,361	55,442
Other non-current liabilities	19,726	19,240
Stockholders' equity:
Common Stock, Value, Issued	7	6
Additional paid-in capital	13,259,100	13,194,028
Accumulated deficit	(95,860)	(41,391)
Accumulated other comprehensive (loss) income	$ (4,999)	$ 2,436
Treasury Stock, Common, Shares	1,837,751	487,626
Treasury Stock, Value	$ (347,426)	$ (84,150)
Total stockholders’ equity	12,810,822	13,070,929
Total liabilities and stockholders’ equity	$ 14,109,427	$ 14,486,052
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, authorized	600,000,000	600,000,000
Common stock, issued	65,255,754	64,952,868
Common stock, outstanding	63,418,003	64,465,242

Net Income Per Share - Stock Options Excluded from the Computation of Dilutive Weighted Average Shares Outstanding (Details) - shares	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Employee equity awards were excluded from the calculation of dilutive weighted average shares outstanding because their effect would be anti-dilutive
Employee equity awards (in shares)	1,242,000	1,441,000	1,192,000	1,367,000

Comprehensive Text Block List

9 Months Ended

Mar. 31, 2024

Text Block [Abstract]

Related Party Transactions Disclosure

Related-Party Transactions

On October 10, 2021, Emerson entered into a definitive agreement (the “Transaction Agreement”) with AspenTech Corporation (f/k/a Aspen Technology, Inc.) (“Heritage AspenTech”) to contribute the Emerson industrial software business (the “Industrial Software Business”), along with $6.014 billion in cash, to create AspenTech (the “Transaction”). The Industrial Software Business included the DGM business and the Subsurface Science & Engineering (“SSE”) business. The Transaction closed on May 16, 2022 (“Closing Date”). Emerson owned approximately 56% of AspenTech on a fully diluted basis as of March 31, 2024.

The Company utilizes some aspects of Emerson’s centralized treasury function to manage the working capital and financing needs of its business operations. This function oversees a cash pooling arrangement which sweeps certain Company cash accounts into pooled Emerson cash accounts on a daily basis and are reflected as receivables from related parties in the condensed consolidated balance sheets. Conversely, any cash funded to the Company from these pooled Emerson cash accounts are reflected as due to related parties in the condensed consolidated balance sheets. The aggregate net activity between the Company and Emerson associated with the cash pooling arrangement is reflected within cash flows from financing activities as net transfers from parent within the condensed consolidated statements of cash flows.

Before the closing of the Transaction, the Industrial Software Business was charged for costs directly attributable to the DGM and SSE businesses and was allocated a portion of Emerson’s costs, including general corporate costs, information technology costs, insurance and other benefit costs, and shared service and other costs. All of these costs are reflected in the Company’s condensed consolidated financial statements. Management believes the methodologies and assumptions used to allocate these costs are reasonable.

At the closing of the Transaction, Emerson and the Company entered into a transition service agreement (the “Transition Service Agreement”) for the provision of certain transitionary services from Emerson to the Company. Pursuant to the Transition Service Agreement, Emerson provides the Company with certain services, including information technology, human resources and other specified services, as well as access to certain of Emerson’s existing facilities. Transition Service Agreement related activities have been recorded as cost of goods sold or operating expenses from related parties and resulting balances have been presented as receivable from or due to related parties in the condensed consolidated financial statements.

In connection with the closing of the Transaction, the Company entered into a registration rights agreement (the “Registration Rights Agreement”) and a tax matters agreement (the “Tax Matters Agreement”) with Emerson. The Registration Rights Agreement grants Emerson certain market registration rights, including demand registration rights and piggyback registration rights, with respect to its registrable securities. The Company has agreed to pay out-of-pocket fees and expenses in connection with such registration, subject to certain exceptions. The Tax Matters Agreement governs the rights and obligations that the Company and Emerson have with respect to taxes of the Company and certain Emerson subsidiaries. In addition, under the terms of the Tax Matters Agreement, the Company agreed to indemnify Emerson and its affiliates against any and all tax-related liabilities incurred by them relating to the Transaction and certain related business reorganizations to the extent such tax-related liabilities are caused by any action taken by the Company.

Receivables from related parties and due to related parties reported in the condensed consolidated balance sheets as of March 31, 2024 and June 30, 2023 include the following:


	March 31, 2024		June 30, 2023

	(Dollars in Thousands)
Interest bearing receivables from related parties	$	68,767	$	61,948
Trade receivables from related parties	330		427
Receivables from related parties	$	69,097	$	62,375

Interest bearing payables to related parties	$	67,805	$	21,866
Trade payables to related parties	149		153
Due to related parties	$	67,954	$	22,019

Allocations and charges from Emerson are as follows:


	Three Months Ended March 31,				Nine Months Ended March 31,
	2024		2023		2024		2023

	(Dollars in Thousands)

Information technology	$	176	$	677	$	1,522	$	2,251

Shared services and other	$	262	$	850	$	807	$	4,745

Corporate costs, human resources, and insurance and other benefits are recorded in general and administrative expenses and information technology, facility charges, and shared services and other are allocated to cost of goods sold and operating expenses based on systemic methods.

Before the closing of the Transaction, the DGM and SSE businesses engaged in various transactions to sell software and purchase goods in the ordinary course of business with affiliates of Emerson. At the closing, the Company and Emerson entered into a commercial agreement to allow Emerson to distribute software and services from the Company (the “Commercial Agreement”). Pursuant to the Commercial Agreement as amended from time to time in accordance with the Stockholders Agreement (as defined below), AspenTech grants Emerson the right to distribute, on a non-exclusive basis, certain (i) existing Heritage AspenTech products, (ii) existing Emerson products transferred to AspenTech pursuant to the Transaction Agreement and (iii) future AspenTech products as mutually agreed upon, in each case, to end-users through Emerson acting as an agent, reseller or original equipment manufacturer. Commercial Agreement-related activities have been recorded as revenues and expenses from related parties and resulting trade balances have been presented as trade receivables from related parties in the condensed consolidated financial statements. Revenue and purchases from Emerson affiliates for the three and nine months ended March 31, 2024 and 2023 are as follows:


	Three Months Ended March 31,				Nine Months Ended March 31,
	2024		2023		2024		2023

	(Dollars in Thousands)
Revenue from Emerson affiliates	$	351	$	4	$	661	$	12

Purchases from Emerson affiliates	$	124	$	116	$	313	$	331

Emerson Share Maintenance Rights

Immediately following the closing of the Transaction, Emerson beneficially owned 55% of the fully diluted shares of AspenTech common stock. At the Closing Date, the Company and Emerson entered into a stockholders agreement (the “Stockholders Agreement”), which sets forth, among other matters, the right of Emerson to nominate directors to the Company’s board of directors, the right of Emerson to nominate the chair of the Company’s board of directors, the composition of the committees of the Company’s board of directors, certain consent rights of Emerson to certain material actions taken by the Company and consent rights with respect to modifications or changes to the Company’s business strategy. Under the Stockholders Agreement, Emerson also has the right to acquire additional equity securities of AspenTech pursuant to pre-agreed procedures and rights in order to maintain its ownership interest. No additional shares of common stock, or any other equity securities of AspenTech, were issued by the Company to Emerson subsequent to the closing of the Transaction through March 31, 2024.

Business Combination with Related Party

The Inmation acquisition completed on August 29, 2022 was considered a related party transaction. Refer to Note 4, “Acquisitions”, to our condensed consolidated financial statements for further discussion.

Credit Agreement with Related Party

On December 23, 2022, the Company entered into the Emerson Credit Agreement with Emerson, which provided for an aggregate term loan commitment of $630.0 million, and on August 18, 2023, the Emerson Credit Agreement was terminated in connection with the termination of the agreement to purchase Micromine. There was no amount outstanding under the Emerson Credit Agreement at the time it was terminated. Refer to Note 10, “Debt”, to our condensed consolidated financial statements for further discussion.

Plantweb Optics Analytics

On July 28, 2023, the Company entered into the Plantweb Optics Analytics Assignment and License Agreement with Emerson for the purchase of Emerson’s Plantweb Optics Analytics software and the perpetual and royalty-free licensing of other Emerson intellectual property for $12.5 million in the aggregate.

The Company is continuing to integrate the purchased software and licensed intellectual property with its existing asset performance management product suite and accordingly has capitalized the full purchase price in accordance with ASC 985-20, “Costs of Software to be Sold, Leased, or Marketed.”

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Section 50
-Paragraph 2
-Subparagraph (c)
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Subparagraph (e)
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 1
-Subparagraph (d)
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Section 50
-Paragraph 6
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-URI https://asc.fasb.org//1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

+ Details

Net Income Per Share - Employee Equity Awards Excluded from the Calculation of Dilutive Weighted Average Shares Outstanding (Details) - shares	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Employee equity awards were excluded from the calculation of dilutive weighted average shares outstanding because their effect would be anti-dilutive
Employee equity awards (in shares)	1,242,000	1,441,000	1,192,000	1,367,000

Revenue from Contracts with Customers (Notes)

9 Months Ended

Mar. 31, 2024

Revenue from Contracts with Customers [Abstract]

Revenue from Contract with Customer [Text Block]

Revenue from Contracts with Customers

Contract Assets and Contract Liabilities

Contract assets are subject to credit risk and reviewed in accordance with Accounting Standards Codification (“ASC”) 326, Financial Instruments Credit Losses. The Company monitors 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 the customers operate. The Company recognizes 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 potential impact of credit losses on contract assets was immaterial as of March 31, 2024.

The Company’s contract assets and contract liabilities were as follows as of March 31, 2024 and June 30, 2023:


	March 31, 2024		June 30, 2023

	(Dollars in Thousands)
Contract assets	$	907,196	$	903,643
Contract liabilities	(167,952)		(181,553)
Net contract assets	$	739,244	$	722,090

The majority of the Company’s contract balances are related to arrangements where revenue is recognized at a point in time and payments are made according to a contractual billing schedule. The change in the net contract asset balance during the nine months ended March 31, 2024 was primarily due to greater revenue recognition as compared to billings. Revenue recognized from the contract liability balance as of June 30, 2023, was $23.8 million and $112.1 million for the three and nine months ended March 31, 2024, respectively.

Transaction Price Allocated to Remaining Performance Obligations


	Year Ending June 30,
	2024		2025		2026		2027		2028		Thereafter		Total

	(Dollars in Thousands)
License and solutions	$	75,529	$	116,533	$	50,467	$	20,546	$	7,495	$	2,724	$	273,294
Maintenance	84,621		275,169		200,500		141,483		94,010		65,330		861,113
Services and other	23,216		69,346		33,389		15,099		7,129		290		148,469
Total	$	183,366	$	461,048	$	284,356	$	177,128	$	108,634	$	68,344	$	1,282,876

Disaggregated Revenue Information

The table below reflects disaggregated revenues by business for the three months and nine months ended March 31, 2024 and 2023:


	Three Months Ended March 31,				Nine Months Ended March 31,
	2024		2023		2024		2023

	(Dollars in Thousands)
Heritage AspenTech	$	178,621	$	155,481	$	521,801	$	499,328
Subsurface Science & Engineering	43,665		36,854		96,320		99,569
DGM	55,820		37,543		166,456		124,638
Total	$	278,106	$	229,878	$	784,577	$	723,535

The Company did not have any customers that accounted for 10 percent or more of the Company’s revenues for the three and nine months ended March 31, 2024 and 2023, respectively.

- 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
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
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-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

Fair Value Fair Value (Tables)

9 Months Ended

Mar. 31, 2024

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

Fair Value Option, Disclosures [Table Text Block]

The following table summarizes financial assets and liabilities measured and recorded at fair value on a recurring basis in the accompanying condensed consolidated balance sheets as of March 31, 2024 and June 30, 2023, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value:


	March 31, 2024
	Level 1 Inputs		Level 2 Inputs

	(Dollars in Thousands)
Cash equivalents	$	68,868	$	—
Equity method investments	$	—	$	2,424

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Benefit for Income Taxes The Company computes its tax provision (benefit) for interim periods by applying the estimated annual effective tax rate (“AETR”) to year-to-date income from operations and adjusting for discrete items arising in that quarter. However, if the Company is unable to make a reliable estimate of its AETR, then the actual effective tax rate for the year-to-date period may be the best estimate. For the three months ended September 30, 2022, the Company computed its tax provision (benefit) using the AETR approach. However, starting with the six months ended December 31, 2022, the Company recorded the actual effective tax rate as it was determined that the AETR approach was not the most appropriate estimate to be applied to the year-to-date pre-tax (loss) income given small changes in the forecast of pre-tax (loss) income would result in significant changes in the AETR. For the three and nine months ended March 31, 2024, the Company again recorded the actual effective tax rate as it was determined that the AETR approach was not the most appropriate estimate. Benefit for income taxes was $9.1 million and $24.2 million for the three months ended March 31, 2024 and 2023, respectively, resulting in effective tax rates of 120.6% and 29.5%, respectively. Income tax benefit decreased primarily due to an increase in pre-tax profitability in our domestic and foreign operations. Benefit for income taxes was $42.2 million and $68.1 million for the nine months ended March 31, 2024 and 2023, respectively, resulting in effective tax rates of 43.7% and 33.5%, respectively. Income tax benefit decreased primarily due to an increase in pre-tax profitability in our domestic and foreign operations.

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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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 8: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 740
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-Name Accounting Standards Codification
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Acquisitions - Narrative (Details) - USD ($) $ in Thousands				3 Months Ended						9 Months Ended
Acquisitions - Narrative (Details) - USD ($) $ in Thousands	Aug. 18, 2023	Aug. 29, 2022	Oct. 10, 2021	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Mar. 31, 2024	Mar. 31, 2023	Jun. 30, 2023
Business Acquisition [Line Items]
Identifiable intangible assets		$ 31,500
Goodwill		63,000		$ 8,329,499						$ 8,329,499		$ 8,330,811
Effective income tax rate (as a percent)				120.60%			29.50%			43.70%	33.50%
Trademarks				$ 1,167,877						$ 1,167,877		802,409
Total revenue				278,106			$ 229,878			784,577	$ 723,535
Net income (loss)				1,556	$ (21,500)	$ (34,525)	(57,635)	$ (66,197)	$ (11,244)	(54,469)	(135,076)
Payments to Acquire Businesses, Net of Cash Acquired										8,273	72,498
Intangible asset amortization expense				122,000			$ 121,700			365,400	364,200
Business Combination, Consideration Transferred, Net Cash Paid		$ 72,500
Other Payments to Acquire Businesses										0	$ 1,363
Intangible assets, net				4,306,689						$ 4,306,689		4,659,657
Acquisitions										Acquisitions Inmation Software GmbH On August 29, 2022, the Company completed the acquisition of inmation Software GmbH (“Inmation”) for total cash consideration of $87.2 million. The purchase price consisted of $78.9 million of cash paid at closing and an additional $8.3 million in indemnification holdbacks, which was paid on August 18, 2023. The total cash acquired from Inmation was approximately $6.4 million resulting in a net cash payment of $72.5 million during the three months ended September 30, 2022. The Company recognized goodwill of $63.0 million (none of which is expected to be tax deductible) and identifiable intangible assets of $31.5 million, primarily consisting of developed technology and customer relationships, with a useful life of approximately five years for developed technology and seven years for customer relationships. Prior to the closing date, Inmation was considered a related party to AspenTech as Emerson Electric Co. (“Emerson” or “Parent Company”), through one of its subsidiaries, held an equity-method investment in Inmation. At the time of close, $17.6 million was paid to Emerson in exchange for all its shares in Inmation, with another $1.9 million paid for an indemnification holdback 12 months after the close on August 18, 2023.
Minimum
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life		5 years
Maximum
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life		7 years
Inmation Software GmbH
Business Acquisition [Line Items]
Consideration transferred		$ 87,200
Business Combination, Consideration Transferred, Cash Paid		78,900
Business Combination, Consideration Transferred, Hold Back		8,300
Business Combination, Consideration Transferred, Exchange of Shares		17,600
Business Combination, Consideration Transferred, Exchange of Shares, After	$ 1,900
Business Combination, Consideration Transferred, Cash Acquired		$ 6,400
Heritage AspenTech
Business Acquisition [Line Items]
Consideration transferred			$ 6,014,000
Customer relationships
Business Acquisition [Line Items]
Trademarks				649,197						$ 649,197		437,673
Intangible assets, net				2,433,344						2,433,344		2,644,868
Gross carrying amount
Business Acquisition [Line Items]
Trademarks				484,828						484,828		341,964
Intangible assets, net				1,418,771						1,418,771		1,561,635
Trademarks
Business Acquisition [Line Items]
Trademarks				24,047						24,047		13,821
Intangible assets, net				$ 440,353						$ 440,353		$ 450,579

Stock-Based Compensation - Stock-Based Compensation Expense and its Classification in the Consolidated Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Recorded as expenses:
Total stock-based compensation	$ 12,907	$ 22,843	$ 45,817	$ 64,020
License and solutions
Recorded as expenses:
Total stock-based compensation	522	832	1,804	2,752
Cost of maintenance
Recorded as expenses:
Total stock-based compensation	667	427	1,884	1,462
Cost of services and other
Recorded as expenses:
Total stock-based compensation	731	599	1,589	1,457
Selling and marketing
Recorded as expenses:
Total stock-based compensation	2,463	3,695	8,112	10,886
Research and development
Recorded as expenses:
Total stock-based compensation	3,343	5,972	11,615	13,831
General and administrative
Recorded as expenses:
Total stock-based compensation	$ 5,181	$ 11,318	$ 20,813	$ 33,632

Acquisitions - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023	Aug. 29, 2022
Business Acquisition [Line Items]
Identifiable intangible assets			$ 31,500
Goodwill	$ 8,329,499	$ 8,330,811	$ 63,000

- Definition

+ References + Details

Segment Information (Tables)

9 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Revenue from External Customers by Geographic Areas

Summarized below is information about the Company’s geographic operations:


	Revenue by Destination
	Three Months Ended March 31,				Nine Months Ended March 31,
	2024		2023		2024		2023

	(Dollars in Thousands)
Americas	$	121,704	$	115,614	$	403,078	$	360,935
Asia, Middle East and Africa	78,165		58,881		192,880		174,595
Europe	78,237		55,383		188,619		188,005
Total	$	278,106	$	229,878	$	784,577	$	723,535

Property, Plant and Equipment [Table Text Block]


	Property, Equipment, and
	Leasehold Improvements, Net
	March 31, 2024		June 30, 2023

	(Dollars in Thousands)
Americas	$	13,438	$	15,793
Asia, Middle East and Africa	1,775		1,923
Europe	1,201		954
Total	$	16,414	$	18,670

Intangible Assets (Tables)

9 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets

Intangible assets consist of the following as of March 31, 2024 and June 30, 2023:


	March 31, 2024
	Developed Technology		Trademarks		Customer Relationships and Backlog		Capitalized Software and Other		Total

	(Dollars in Thousands)
Gross carrying amount	$	1,903,599	$	464,400	$	3,082,541	$	24,026	$	5,474,566
Less: Accumulated amortization	(484,828)		(24,047)		(649,197)		(9,805)		(1,167,877)
Net carrying amount	$	1,418,771	$	440,353	$	2,433,344	$	14,221	$	4,306,689

	June 30, 2023
	Developed Technology		Trademarks		Customer Relationships and Backlog		Capitalized Software and Other		Total

	(Dollars in Thousands)
Gross carrying amount	$	1,903,599	$	464,400	$	3,082,541	$	11,526	$	5,462,066
Less: Accumulated amortization	(341,964)		(13,821)		(437,673)		(8,951)		(802,409)
Net carrying amount	$	1,561,635	$	450,579	$	2,644,868	$	2,575	$	4,659,657

Stock-Based Compensation - Stock-Based Compensation Accounting (Details)

9 Months Ended

Mar. 31, 2024

Stock Options

Stock-Based Compensation Accounting

Share-based Payment Arrangement, Activity [Table Text Block]

The table below summarizes activities related to stock options for the nine months ended March 31, 2024:


	Number of Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value(1)
				(in years)	(in thousands)
Outstanding as of June 30, 2023	1,005,826	$	144.17	6.44	$	32,935
Granted	1,471	$	171.56
Exercised	(132,771)	$	140.42
Cancelled / Forfeited	(41,635)	$	184.13
Outstanding as of March 31, 2024	832,891	$	160.81	5.93	$	58,787
Exercisable as of March 31, 2024	627,849	$	130.04	5.23	$	52,292
Vested and expected to vest as of March 31, 2024	815,941	$	141.91	5.89	$	58,329

__________

(1) The aggregate intrinsic value in this table represents any excess of the closing market price of the Company’s common stock as of March 31, 2024 ($213.28) over the exercise price of the underlying options.

Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Jun. 30, 2023
Finite-Lived Intangible Assets [Line Items]
Developed Technology	$ 5,474,566		$ 5,474,566		$ 5,462,066
Trademarks	(1,167,877)		(1,167,877)		(802,409)
Intangible assets, net	4,306,689		4,306,689		4,659,657
Intangible asset amortization expense	122,000	$ 121,700	365,400	$ 364,200
Heritage AspenTech
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	430,000		430,000
Gross carrying amount
Finite-Lived Intangible Assets [Line Items]
Developed Technology	1,903,599		1,903,599		1,903,599
Trademarks	(484,828)		(484,828)		(341,964)
Intangible assets, net	1,418,771		1,418,771		1,561,635
Less: Accumulated amortization
Finite-Lived Intangible Assets [Line Items]
Developed Technology	3,082,541		3,082,541		3,082,541
Trademarks	(649,197)		(649,197)		(437,673)
Intangible assets, net	2,433,344		2,433,344		2,644,868
Trademarks
Finite-Lived Intangible Assets [Line Items]
Developed Technology	464,400		464,400		464,400
Trademarks	(24,047)		(24,047)		(13,821)
Intangible assets, net	440,353		440,353		450,579
Purchased software
Finite-Lived Intangible Assets [Line Items]
Developed Technology	24,026		24,026		11,526
Trademarks	(9,805)		(9,805)		(8,951)
Intangible assets, net	$ 14,221		$ 14,221		$ 2,575

Stock-Based Compensation

9 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation


	Three Months Ended March 31,				Nine Months Ended March 31,
	2024		2023		2024		2023

	(Dollars in Thousands)
Cost of license and solutions	$	522	$	832	$	1,804	$	2,752
Cost of maintenance	667		427		1,884		1,462
Cost of services and other	731		599		1,589		1,457
Selling and marketing	2,463		3,695		8,112		10,886
Research and development	3,343		5,972		11,615		13,831
General and administrative	5,181		11,318		20,813		33,632
Total stock-based compensation	$	12,907	$	22,843	$	45,817	$	64,020

Stock Options

The table below summarizes activities related to stock options for the nine months ended March 31, 2024:


	Number of Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value(1)
				(in years)	(in thousands)
Outstanding as of June 30, 2023	1,005,826	$	144.17	6.44	$	32,935
Granted	1,471	$	171.56
Exercised	(132,771)	$	140.42
Cancelled / Forfeited	(41,635)	$	184.13
Outstanding as of March 31, 2024	832,891	$	160.81	5.93	$	58,787
Exercisable as of March 31, 2024	627,849	$	130.04	5.23	$	52,292
Vested and expected to vest as of March 31, 2024	815,941	$	141.91	5.89	$	58,329

__________

Restricted Stock Units and Performance Stock Units

Restricted stock units and performance stock units are not included in issued and outstanding common stock until the units are vested and the underlying shares are settled. The table below summarizes activities related to restricted stock units and performance stock units for the nine months ended March 31, 2024:


	Number of Shares Underlying Performance Stock Units		Number of Shares Underlying Restricted Stock Units

	(Dollars in Thousands)
Outstanding as of June 30, 2023	—		456,368
Granted	94,174		190,426
Settled	—		(268,705)
Forfeited	(9,446)		(40,789)
Outstanding as of March 31, 2024	84,728		337,300
Weighted average remaining recognition period of outstanding restricted units (in years)	2.25		2.38
Unrecognized stock-based compensation expense of outstanding restricted units	$	8,295	$	50,982
Aggregate intrinsic value of outstanding restricted units	$	12,684	$	69,872

The weighted average grant date fair value per restricted stock unit was $200.73 and $201.72 during the three months ended March 31, 2024 and 2023, respectively, and $193.86 and $208.79 during the nine months ended March 31, 2024 and 2023, respectively. The weighted average grant date fair value per performance stock unit was $194.03 during the nine months ended March 31, 2024. There were no performance stock units granted during the three months ended March 31, 2024, and there were no performance stock units granted or outstanding during the three and nine months ended March 31, 2023.

Beginning in fiscal 2024, the Company granted performance stock units with a performance condition and service condition. These performance stock units vest on a cliff basis in three years based upon the achievement of predefined performance goals, with the ability for 25% of granted awards to vest on an accelerated basis in each of the first two years. The performance goal relates to the sum of (i) annual contract value growth and (ii) free cash flow margin over the performance period. Up to 175% of the performance stock units could vest upon achievement of the performance goals. Conversely, if a minimum performance goal is not met, none of the performance stock units will vest. On a quarterly basis, management evaluates the probability that the threshold performance goals will be achieved, if at all, and the anticipated level of attainment to determine the amount of compensation expense to record in the condensed consolidated financial statements.

Revenue from Contracts with Customers Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Total revenue	$ 278,106	$ 229,878	$ 784,577	$ 723,535
License and solutions
Total revenue	169,467	136,292	470,578	446,360
Maintenance
Total revenue	86,256	77,283	256,280	234,277
Services and other
Total revenue	$ 22,383	$ 16,303	$ 57,719	$ 42,898

- 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
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Regulated Operations (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Regulated Operations [Abstract]
Compensation-related	$ 54,044	$ 62,162
Deferred acquisition payments	504	654
Accrued Professional Fees, Current	7,229	7,921
Accrued Income Taxes	4,144	6,265
Accrued Royalties, Current	1,019	8,984
Other Accrued Liabilities, Current	14,902	13,540
Accrued expenses and other current liabilities	$ 81,842	$ 99,526

Goodwill (Policies)

9 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The changes in the carrying amount of goodwill during the nine months ended March 31, 2024 were as follows:


	Carrying Value
	(Dollars in Thousands)
Balance as of June 30, 2023	$	8,330,811
Foreign currency translation	(1,312)
Balance as of March 31, 2024	$	8,329,499

Goodwill - Goodwill, Net (Details) $ in Thousands	9 Months Ended
Goodwill - Goodwill, Net (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Goodwill:
Balance as of June 30, 2023	$ 8,330,811
Foreign currency translation	(1,312)
Balance as of March 31, 2024	$ 8,329,499

- Definition

+ References + Details

Revenue from Contracts with Customers Contract Balances (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 31, 2024	Mar. 31, 2024	Jun. 30, 2023
Revenue recognized that was previously deferred	$ 23,800	$ 112,100
Deferred revenue	(167,952)	(167,952)	$ (181,553)
Contract assets	907,196	907,196	903,643
Net Contract Assets (Liabilities)	$ 739,244	$ 739,244	$ 722,090

Significant Accounting Policies	3 Months Ended
Significant Accounting Policies	Mar. 31, 2024
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Our significant accounting policies are described in Note 2 to the consolidated financial statements included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2023. There were no material changes to our significant accounting policies during the nine months ended March 31, 2024. (a) Revenue Recognition Prior to the third quarter of fiscal 2023, Digital Grid Management (“DGM”) software licenses were primarily sold with professional services and hardware to form an integrated solution for the customer. The professional services and hardware sold with the license significantly customized the underlying functionality and usability of the software. As such, none of the software license, hardware or professional services were considered distinct within the context of the contract and were therefore considered a single performance obligation. Because the integrated solution had no alternative use to the Company and the Company held an enforceable right to payment, revenue was recognized over time (typically one to two years) using an input measure of progress based on the ratio of actual costs incurred to date to the total estimated cost to complete. For integrated solution contracts executed prior to the third quarter of fiscal 2023, revenue continues to be recognized over time until the implementation is complete. At the start of the third quarter of fiscal 2023, the Company completed a series of business transformation activities relating to DGM products and services in conjunction with its ongoing integration activities. As part of a change in the related go-to-market strategy, the Company has invested in tools and processes to simplify and streamline the implementation services to significantly reduce the complexity and interdependency associated with its software. In addition, the Company has identified and trained several third-party implementation service partners to operate autonomously and directly with DGM customers to implement its products. Accordingly, effective January 1, 2023, following the completion of these business transformation activities, for all prospective DGM contracts entered into after January 1, 2023, the Company accounts for the DGM software license, hardware, maintenance, and professional services as separate and distinct performance obligations. Software license revenue is recognized at a point in time when control transfers to the customer, which generally aligns with the first day of the contractual term. Hardware revenue is recognized at the point in time when control transfers to the customer, which generally occurs upon delivery. The recognition of maintenance revenue at DGM is unchanged and continues to be recognized ratably over the maintenance term. Professional services revenue is recognized over time (typically one to two years) using the proportional performance method by comparing the costs incurred to the total estimated project costs. (b) Recently Issued Accounting Standards Not Yet Adopted In October 2023, the FASB issued Accounting Standards Updated (“ASU”) 2023-06, Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative (“ASU 2023-06”). ASU 2023-06 was issued to modify the disclosure or presentation requirements of a variety of topics in the codification. The effective date for each amendment will be the date on which the SEC removal of the related disclosure from Regulation S-X or Regulation S-K becomes effective, with early adoption prohibited. The Company does not expect the adoption of ASU 2023-06 to have a material impact on its financial position or results of operations. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”). ASU 2023-07 expands segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items, and interim disclosures of a reportable segment’s profit or loss and assets. The disclosures required under ASU 2023-07 are also required for public entities with a single reportable segment. The ASU is effective for the Company’s first fiscal year beginning after December 15, 2023 and for interim periods within the Company’s first fiscal year beginning after December 15, 2024, with early adoption permitted. The Company does not expect the adoption of ASU 2023-07 to have a material impact on its financial position or results of operations. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”). ASU 2023-09 requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. The ASU is effective for the Company’s first fiscal year beginning after December 15, 2024. The guidance will be applied on a prospective basis with the option to apply the standard retrospectively. Early adoption is permitted. The Company does not expect the adoption of ASU 2023-09 to have a material impact on its financial position or results of operations.

Stock-Based Compensation - RSU Activity (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Jun. 30, 2023
Restricted Stock Units
Restricted stock units activity
Granted (in shares)			190,426
Weighted Average Grant Date Fair Value
Granted (in dollars per share)	$ 200.73	$ 201.72	$ 193.86	$ 208.79
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	337,300		337,300		456,368
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms	2 years 4 months 17 days		2 years 4 months 17 days
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period			(268,705)
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Forfeited in Period			(40,789)
Total unrecognized compensation cost	$ 50,982		$ 50,982
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding	$ 69,872		$ 69,872
Performance Shares [Member]
Restricted stock units activity
Granted (in shares)			94,174
Weighted Average Grant Date Fair Value
Granted (in dollars per share)			$ 194.03
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	84,728		84,728		0
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms	2 years 3 months		2 years 3 months
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period			0
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Forfeited in Period			(9,446)
Total unrecognized compensation cost	$ 8,295		$ 8,295
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding	$ 12,684		$ 12,684

Segment Information - Summary of Reportable Segments' Profits (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Jun. 30, 2023
Summary of reportable segments' profits
Loss from operations	$ (19,294)	$ (78,473)	$ (128,749)	$ (189,050)
Property, equipment and leasehold improvements, net	16,414		16,414		$ 18,670
Revenue from Contract with Customer, Excluding Assessed Tax	278,106	229,878	784,577	723,535
Americas
Summary of reportable segments' profits
Property, equipment and leasehold improvements, net	13,438		13,438		15,793
Revenue from Contract with Customer, Excluding Assessed Tax	121,704	115,614	403,078	360,935
Asia, Middle East and Africa
Summary of reportable segments' profits
Property, equipment and leasehold improvements, net	1,775		1,775		1,923
Revenue from Contract with Customer, Excluding Assessed Tax	78,165	58,881	192,880	174,595
Europe
Summary of reportable segments' profits
Property, equipment and leasehold improvements, net	1,201		1,201		954
Revenue from Contract with Customer, Excluding Assessed Tax	78,237	55,383	188,619	188,005
North America
Summary of reportable segments' profits
Property, equipment and leasehold improvements, net	11,300		11,300		$ 13,400
Revenue from Contract with Customer, Excluding Assessed Tax	$ 104,100	$ 89,400	$ 332,800	$ 289,900

- Definition

Amount, excluding 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

+ Details

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities:
Net income (loss)	$ (54,469)	$ (135,076)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	369,794	368,266
Reduction in the carrying amount of right-of-use assets	11,312	10,463
Net foreign currency losses	8,238	3,711
Derivative Instruments Not Designated as Hedging Instruments, Loss	0	(10,821)
Stock-based compensation	45,817	64,020
Deferred income taxes	(138,470)	(156,046)
Provision for uncollectible receivables	9,269	3,944
Other non-cash operating activities	805	1,108
Changes in assets and liabilities:
Accounts receivable	(22,923)	(11,060)
Contract assets	(2,902)	(10,672)
Contract costs	(5,204)	(5,357)
Lease liabilities	(11,281)	(10,303)
Prepaid expenses, prepaid income taxes, and other assets	(17,444)	27,641
Liability from foreign currency forward contract	0	40,454
Accounts payable, accrued expenses, income taxes payable and other liabilities	5,972	(12,038)
Contract liabilities	(13,564)	17,416
Net cash provided by operating activities		185,650
Cash flows from investing activities:
Purchases of property, equipment and leasehold improvements	(2,579)	(4,515)
Proceeds from Derivative Instrument, Investing Activities	0	10,821
Payments for business acquisitions, net of cash acquired	(8,273)	(72,498)
Payments to Acquire Equity Method Investments	272	676
Payments for capitalized computer software development costs	(131)	(347)
Payments for Software	(12,500)	0
Payments for (Proceeds from) Other Investing Activities	0	1,000
Net cash used in investing activities	(23,755)	(68,215)
Cash flows from financing activities:
Issuance of shares of common stock	15,214	31,542
Payments for Repurchase of Common Stock	(243,066)	0
Payment of tax withholding obligations related to restricted stock	(17,010)	(14,406)
Deferred business acquisition payments	0	(1,363)
Repayments of amounts borrowed under term loan	0	(276,000)
Net transfers from (to) Parent Company	(32,558)	(5,749)
Payments of debt issuance costs	0	(2,375)
Net cash used in financing activities	(212,304)	(268,351)
Effect of exchange rate changes on cash and cash equivalents	(12,508)	(12,073)
Decrease in cash and cash equivalents	(63,617)	(162,989)
Cash and cash equivalents, beginning of period	241,209	449,725
Cash and cash equivalents, end of period	177,592
Supplemental disclosure of non-cash activities:
Change in purchases of property, equipment and leasehold improvements included in accounts payable and accrued expenses	45	(1,307)
Lease liabilities arising from obtaining right-of-use assets	61,657	784
Supplemental disclosure of cash flow information:
Income taxes paid, net	95,900	64,840
Interest paid	4,701	14,345
Reconciliation to amounts within the unaudited consolidated balance sheets: [Abstract]
Cash, cash equivalents, and restricted cash, end of period	$ 177,592	$ 286,736

Stock-Based Compensation - Stock Option Activity (Details) - USD ($)

9 Months Ended

Mar. 31, 2024

Mar. 31, 2023

Jun. 30, 2023

Aggregate Intrinsic Value

Issuance of shares of common stock

$ 15,214,000

$ 31,542,000

Share Price

$ 213.28

Stock-Based Compensation


	Three Months Ended March 31,				Nine Months Ended March 31,
	2024		2023		2024		2023

	(Dollars in Thousands)
Cost of license and solutions	$	522	$	832	$	1,804	$	2,752
Cost of maintenance	667		427		1,884		1,462
Cost of services and other	731		599		1,589		1,457
Selling and marketing	2,463		3,695		8,112		10,886
Research and development	3,343		5,972		11,615		13,831
General and administrative	5,181		11,318		20,813		33,632
Total stock-based compensation	$	12,907	$	22,843	$	45,817	$	64,020

Stock Options

The table below summarizes activities related to stock options for the nine months ended March 31, 2024:


	Number of Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value(1)
				(in years)	(in thousands)
Outstanding as of June 30, 2023	1,005,826	$	144.17	6.44	$	32,935
Granted	1,471	$	171.56
Exercised	(132,771)	$	140.42
Cancelled / Forfeited	(41,635)	$	184.13
Outstanding as of March 31, 2024	832,891	$	160.81	5.93	$	58,787
Exercisable as of March 31, 2024	627,849	$	130.04	5.23	$	52,292
Vested and expected to vest as of March 31, 2024	815,941	$	141.91	5.89	$	58,329

__________

Restricted Stock Units and Performance Stock Units


	Number of Shares Underlying Performance Stock Units		Number of Shares Underlying Restricted Stock Units

	(Dollars in Thousands)
Outstanding as of June 30, 2023	—		456,368
Granted	94,174		190,426
Settled	—		(268,705)
Forfeited	(9,446)		(40,789)
Outstanding as of March 31, 2024	84,728		337,300
Weighted average remaining recognition period of outstanding restricted units (in years)	2.25		2.38
Unrecognized stock-based compensation expense of outstanding restricted units	$	8,295	$	50,982
Aggregate intrinsic value of outstanding restricted units	$	12,684	$	69,872

Stock Options

Stock options activity

Outstanding, beginning of period (in shares)

1,005,826

Granted (in shares)

1,471

Exercised (in shares)

(132,771)

Outstanding, end of period (in shares)

832,891

Weighted Average Exercise Price

Outstanding, beginning of period (in dollars per share)

$ 144.17

Granted (in dollars per share)

171.56

Exercised (in dollars per share)

140.42

Outstanding, end of period (in dollars per share)

$ 160.81

Aggregate Intrinsic Value

Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures and Expirations in Period

(41,635)

Cancelled / Forfeited (in dollars per share)

$ 184.13

Outstanding, end of period

$ 58,787

$ 32,935

Vested and exercisable, end of period (in shares)

627,849

Vested and exercisable, end of period (in dollars per share)

$ 130.04

Vested and exercisable, end of period

5 years 2 months 23 days

Vested and exercisable, end of period

$ 52,292

Vested and expected to vest, end of period (in shares)

815,941

Vested and expected to vest, end of period (in dollars per share)

$ 141.91

Vested and expected to vest, end of period

5 years 10 months 20 days

Vested and expected to vest, end of period

$ 58,329

Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term

5 years 11 months 4 days

6 years 5 months 8 days

Leases, Codification Topic 842 (Policies)

9 Months Ended

Mar. 31, 2024

Leases [Abstract]

Lessee, Leases [Policy Text Block]

Leases

On December 26, 2023, the Company entered into an amendment to its existing lease agreement at its principal executive offices located in Bedford, Massachusetts (the “Lease Amendment”). Under the Lease Amendment, the Company: (i) extended the term of the existing lease for approximately 132,000 rentable square feet from March 2025 to March 2038, and (ii) obtained an additional approximate 23,000 rentable square feet of office space, also through March 2038.

The Company accounted for the Lease Amendment as a lease modification. Accordingly, the right-of-use assets and lease liabilities were remeasured using an incremental borrowing rate at the date of modification. This lease modification resulted in the recording of an additional right-of-use asset and lease liability of $32.9 million recognized on the condensed consolidated balance sheets as of the commencement date, which is reflected net of a $25.4 million leasehold improvement incentive to be reimbursed to the Company by the landlord under the Lease Amendment. As invoices are paid by the Company during construction of the improvements, the Company will increase the balances of the lease liability and construction-in-process assets, which is included within property, equipment and leasehold improvements, net in the condensed consolidated balance sheets. When placed into service, the construction-in-process assets will be reclassified to leasehold improvements and depreciated over the shorter of the remaining term of the Lease Amendment or the life of the underlying asset.

Operating lease costs are recognized on a straight-line basis over the term of the lease. The components of total lease expense for the three and nine months ended March 31, 2024 and 2023 are as follows:


	Three Months Ended March 31,				Nine Months Ended March 31,
	2024		2023		2024		2023

	(Dollars in Thousands)
Operating lease expense	$	5,199	$	4,495	$	14,688	$	12,882
Variable lease expense	281		245		697		670
Short term lease expense	142		167		447		71
Total lease expense	$	5,622	$	4,907	$	15,832	$	13,623

The following table summarizes the balances of the Company’s operating lease right-of-use assets and operating lease liabilities as of March 31, 2024 and June 30, 2023:


	March 31, 2024		June 30, 2023

	(Dollars in Thousands)
Operating lease right-of-use assets	$	94,353	$	67,642
Current operating lease liabilities	$	13,698	$	12,928
Non-current operating lease liabilities	$	81,361	$	55,442

The weighted-average remaining lease term for operating leases was approximately 12 years and 9 years, and the weighted-average discount rate was approximately 4.0% and 3.0% as of March 31, 2024 and June 30, 2023, respectively.

The following table represents the future maturities of the Company’s operating lease liabilities as of March 31, 2024:


Fiscal Year Ending June 30,	(Dollars in Thousands)
2024	$	3,811
2025	11,977
2026	8,895
2027	13,015
2028	12,818
Thereafter	103,186
Total lease payments	153,702
Less: imputed interest	(33,258)
Less: leasehold improvement incentives to be utilized	(25,385)
Total lease maturities	$	95,059

Leases, Codification Topic 842 (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Dec. 26, 2023	Jun. 30, 2023
Lessee, Lease, Description [Line Items]
Operating Lease, Expense	$ 5,199	$ 4,495	$ 14,688	$ 12,882
Variable lease costs	281	245	697	670
Short-Term Lease, Cost	142	167	447	71
Total lease costs	5,622	$ 4,907	15,832	$ 13,623
Operating lease right-of-use assets	94,353		94,353			$ 67,642
Current operating lease liabilities	13,698		13,698			12,928
Non-current operating lease liabilities	$ 81,361		$ 81,361			$ 55,442
Weighted average discount rate	4.00%		4.00%			3.00%
Weighted average remaining lease term	12 years		12 years			9 years
2021	$ 3,811		$ 3,811
2022	11,977		11,977
2023	8,895		8,895
2024	13,015		13,015
2025	12,818		12,818
Thereafter	103,186		103,186
Total lease payments	153,702		153,702
Less: imputed interest	(33,258)		(33,258)
Leasehold Improvements, Gross	(25,385)		(25,385)
Operating lease liabilities	$ 95,059		$ 95,059
Additional ROU Asset and Lease Liability					$ 32,900
Additional ROU Asset and Lease Liability net of Leasehold Improvement Inventives					$ 25,400

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) Statement - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Treasury Stock, Common
Common stock, issued		64,425,378
Additional paid-in capital			$ 13,107,570
Accumulated deficit				$ 66,369
Accumulated other comprehensive (loss) income					$ (4,588)
Total stockholders’ equity	$ 13,169,357	$ 6
Net income (loss)	(11,244)			(11,244)
Total other comprehensive (loss) income	(8,865)				(8,865)
Issuance of shares of common stock (in shares)		71,547
Issuance of shares of common stock, amount	8,489		8,489
Issuance of restricted stock units and net share settlement related to withholding taxes (in shares)		34,375
Issuance of restricted stock units and net share settlement related to withholding taxes, amount	(4,683)		(4,683)
Stock-based compensation	17,736		17,736
Net income (loss)	(135,076)
Total other comprehensive (loss) income	3,690
Common stock, issued		64,531,300
Additional paid-in capital			13,129,112
Accumulated deficit				55,125
Accumulated other comprehensive (loss) income					(13,453)
Total stockholders’ equity	13,170,790	$ 6
Net income (loss)	(66,197)			(66,197)
Total other comprehensive (loss) income	6,710				6,710
Issuance of shares of common stock (in shares)		202,506
Issuance of shares of common stock, amount	16,977		16,977
Issuance of restricted stock units and net share settlement related to withholding taxes (in shares)		33,949
Issuance of restricted stock units and net share settlement related to withholding taxes, amount	(4,656)		(4,656)
Stock-based compensation	23,441		23,441
Common stock, issued		64,767,755
Additional paid-in capital			13,164,874
Accumulated deficit				(11,072)
Accumulated other comprehensive (loss) income					(6,743)
Total stockholders’ equity	13,147,065	$ 6
Net income (loss)	(57,635)			(57,635)
Total other comprehensive (loss) income	5,845				5,845
Issuance of shares of common stock (in shares)		50,579
Issuance of shares of common stock, amount	6,031		6,031
Issuance of restricted stock units and net share settlement related to withholding taxes (in shares)		40,264
Issuance of restricted stock units and net share settlement related to withholding taxes, amount	(5,070)		(5,070)
Stock-based compensation	22,843		22,843
Common stock, issued		64,858,598
Additional paid-in capital			13,188,678
Accumulated deficit				(68,707)
Accumulated other comprehensive (loss) income					(898)
Total stockholders’ equity	$ 13,119,079	$ 6
Common stock, issued	64,952,868	64,952,868				487,626
Additional paid-in capital	$ 13,194,028		13,194,028
Accumulated deficit	(41,391)			(41,391)
Accumulated other comprehensive (loss) income	2,436				2,436
Total stockholders’ equity	13,070,929	$ 6				$ (84,150)
Net income (loss)	(34,525)			(34,525)
Total other comprehensive (loss) income	(11,201)				(11,201)
Issuance of shares of common stock (in shares)		29,644
Issuance of shares of common stock, amount	3,826		3,826
Issuance of restricted stock units and net share settlement related to withholding taxes (in shares)		47,896
Issuance of restricted stock units and net share settlement related to withholding taxes, amount	(4,585)		(4,585)
Repurchase of common stock, amount	(114,224)		(20,210)			$ 134,434
Stock-based compensation	16,699		16,699
Treasury Stock, Shares, Acquired						686,843
Net income (loss)	(54,469)
Total other comprehensive (loss) income	(7,435)
Common stock, issued		65,030,408				1,174,469
Additional paid-in capital			13,230,178
Accumulated deficit				(75,916)
Accumulated other comprehensive (loss) income					(8,765)
Total stockholders’ equity	12,926,919	$ 6				$ (218,584)
Net income (loss)	(21,500)			(21,500)
Total other comprehensive (loss) income	4,870				4,870
Issuance of shares of common stock (in shares)		32,212
Issuance of shares of common stock, amount	4,268		4,268
Issuance of restricted stock units and net share settlement related to withholding taxes (in shares)		107,558
Issuance of restricted stock units and net share settlement related to withholding taxes, amount	(9,590)		(9,590)
Repurchase of common stock, amount	(72,105)					$ 72,105
Stock-based compensation	16,211		16,211
Treasury Stock, Shares, Acquired						375,041
Common stock, issued		65,170,178				1,549,510
Additional paid-in capital			13,241,067
Accumulated deficit				(97,416)
Accumulated other comprehensive (loss) income					(3,895)
Total stockholders’ equity	12,849,073	$ 6				$ (290,689)
Net income (loss)	1,556			1,556
Total other comprehensive (loss) income	(1,104)				(1,104)
Issuance of shares of common stock (in shares)		60,278
Issuance of shares of common stock, amount	7,948	$ 1	7,947
Issuance of restricted stock units and net share settlement related to withholding taxes (in shares)		25,298
Issuance of restricted stock units and net share settlement related to withholding taxes, amount	(2,821)		(2,821)
Repurchase of common stock, amount	(56,737)					$ 56,737
Stock-based compensation	$ 12,907		12,907
Treasury Stock, Shares, Acquired						288,241
Common stock, issued	65,255,754	65,255,754				1,837,751
Additional paid-in capital	$ 13,259,100		$ 13,259,100
Accumulated deficit	(95,860)			$ (95,860)
Accumulated other comprehensive (loss) income	(4,999)				$ (4,999)
Total stockholders’ equity	$ 12,810,822	$ 7				$ (347,426)

Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Level 1 Inputs
Fair Value
Cash equivalents	$ 68,868	$ 132,918
Level 2 Inputs
Fair Value
Equity method investments	$ 2,424	$ 2,673

Intangible Assets

9 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Intangible assets consist of the following as of March 31, 2024 and June 30, 2023:


	March 31, 2024
	Developed Technology		Trademarks		Customer Relationships and Backlog		Capitalized Software and Other		Total

	(Dollars in Thousands)
Gross carrying amount	$	1,903,599	$	464,400	$	3,082,541	$	24,026	$	5,474,566
Less: Accumulated amortization	(484,828)		(24,047)		(649,197)		(9,805)		(1,167,877)
Net carrying amount	$	1,418,771	$	440,353	$	2,433,344	$	14,221	$	4,306,689

	June 30, 2023
	Developed Technology		Trademarks		Customer Relationships and Backlog		Capitalized Software and Other		Total

	(Dollars in Thousands)
Gross carrying amount	$	1,903,599	$	464,400	$	3,082,541	$	11,526	$	5,462,066
Less: Accumulated amortization	(341,964)		(13,821)		(437,673)		(8,951)		(802,409)
Net carrying amount	$	1,561,635	$	450,579	$	2,644,868	$	2,575	$	4,659,657

Net Income Per Share

9 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Net Income Per Share

Net Income (Loss) Per Share

Basic income (loss) per share is determined by dividing net income (loss) by the weighted average common shares outstanding during the period. Diluted income (loss) per share is determined by dividing net income (loss) 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 (loss) per share based on the treasury stock method.

The calculations of basic and diluted net loss per share and basic and diluted weighted average shares outstanding for the three and nine months ended March 31, 2024 and 2023 are as follows:


	Three Months Ended March 31,				Nine Months Ended March 31,
	2024		2023		2024		2023

	(Dollars and Shares in Thousands, Except per Share Data)
Net income (loss)	$	1,556	$	(57,635)	$	(54,469)	$	(135,076)

Basic weighted average shares outstanding	63,508		64,796		63,844		64,622

Dilutive impact from:
Employee equity awards	294		—		—		—
Dilutive weighted average shares outstanding	63,802		64,796		63,844		64,622

Net income (loss) per share
Basic	$	0.02	$	(0.89)	$	(0.85)	$	(2.09)
Dilutive	$	0.02	$	(0.89)	$	(0.85)	$	(2.09)

For the three and nine months ended March 31, 2024, and 2023, certain employee equity awards were anti-dilutive based on the treasury stock method. The following employee equity awards were excluded from the calculation of diluted weighted average shares outstanding because their effect would be anti-dilutive as of March 31, 2024 and 2023:


	Three Months Ended March 31,		Nine Months Ended March 31,
	2024	2023	2024	2023

	(Shares in Thousands)
Employee equity awards	1,242	1,441	1,192	1,367

Credit Agreement Schedule of Long-Term Debt (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 23, 2019
Debt Instrument [Line Items]
Letters of Credit Outstanding, Amount	$ 2.3
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 197.7	$ 200.0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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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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+ Details

Stock-Based Compensation - Additional Disclosures (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Stock-based compensation, additional disclosures
Issuance of shares of common stock			$ 15,214	$ 31,542
Employee stock purchase plan, stock-based compensation	$ 12,907	$ 22,843	$ 45,817	$ 64,020
Restricted Stock Units
Stock-based compensation, additional disclosures
Weighted average grant-date fair value of RSUs granted	$ 200.73	$ 201.72	$ 193.86	$ 208.79
Performance awards, shares granted			190,426

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Benefit for income taxes	$ (9,115)	$ (24,150)	$ (42,241)	$ (68,132)
Effective income tax rate (as a percent)	120.60%	29.50%	43.70%	33.50%

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Goodwill (Tables)

9 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in carrying amount of goodwill by reporting unit

The changes in the carrying amount of goodwill during the nine months ended March 31, 2024 were as follows:


	Carrying Value
	(Dollars in Thousands)
Balance as of June 30, 2023	$	8,330,811
Foreign currency translation	(1,312)
Balance as of March 31, 2024	$	8,329,499

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

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+ Details

Net Income Per Share - Calculations of Basic and Diluted Net Income per Share and Basic and Dilutive Weighted Average Shares Outstanding (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Mar. 31, 2024	Mar. 31, 2023
Net income (loss)	$ 1,556	$ (21,500)	$ (34,525)	$ (57,635)	$ (66,197)	$ (11,244)	$ (54,469)	$ (135,076)
Weighted Average Number of Shares Outstanding, Basic	63,508			64,796			63,844	64,622
Employee equity awards (in shares)	294
Basic	$ 0.02			$ (0.89)			$ (0.85)	$ (2.09)
Earnings Per Share, Diluted	$ 0.02			$ (0.89)			$ (0.85)	$ (2.09)
Dilutive impact from:
Dilutive weighted average shares outstanding (in shares)	63,802			64,796			63,844	64,622

- 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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+ Details

- 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

- Definition

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

+ References

+ Details

Regulated Operations

9 Months Ended

Mar. 31, 2024

Regulated Operations [Abstract]

Supplemental Balance Sheet Disclosures [Text Block]

Accrued Expenses and Other Current Liabilities

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


	March 31, 2024		June 30, 2023

	(Dollars in Thousands)
Compensation-related	$	54,044	$	62,162
Accrued taxes	7,229		7,921
Professional fees	4,144		6,265
Acquisition related	1,019		8,984
Royalties and outside commissions	504		654
Other	14,902		13,540
Total accrued expenses and other current liabilities	$	81,842	$	99,526

Credit Agreement (Details) $ in Millions	Mar. 31, 2024 USD ($)	Dec. 23, 2022 USD ($)	Dec. 23, 2019 USD ($)
Credit Agreement
Maximum leverage ratio	3.50
Minimum interest coverage ratio	2.50
Emerson Electric Co.
Credit Agreement
Principal amount		$ 630.0
Revolving Credit Facility [Member]
Credit Agreement
Principal amount	$ 197.7		$ 200.0

Stock Repurchases	9 Months Ended
Stock Repurchases	Mar. 31, 2024
Equity [Abstract]
Treasury Stock	Stock Repurchases On May 5, 2023, the Company entered into an accelerated share repurchase program (“ASR Program”) with JPMorgan to repurchase an aggregate of $100.0 million of the Company’s common stock. Pursuant to the terms of the ASR Program, the Company made an initial payment to JPMorgan and received an initial delivery of 487,626 shares of the Company’s common stock, which represented approximately 80% of the total number of shares of the Company’s common stock expected to be purchased under the ASR Program. The ASR Program was settled on August 7, 2023, resulting in an additional delivery of 107,045 shares of the Company’s common stock. The Company repurchased in total 594,671 shares of common stock for $100.0 million as part of the ASR Program. The $100.0 million payment made to JPMorgan was recognized as a reduction to stockholders’ equity, consisting of an increase in treasury stock representing the value of the 594,671 shares received upon settlement, offset by an increase to additional-paid-in-capital for the value of the shares repurchased in excess of the $100.0 million payment. On August 1, 2023, the Company announced that its Board of Directors approved a share repurchase program (the “Share Repurchase Authorization”) pursuant to which an aggregate $300.0 million of its common stock may be repurchased, by means of open market transactions, block transactions, privately negotiated purchase transactions or any other purchase techniques, including 10b5-1 trading plans. The timing and amount of any shares repurchased under the Share Repurchase Authorization are based on market conditions and other factors. All shares of the Company’s common stock repurchased have been recorded as treasury stock under the cost method. The Company reflects share repurchases in its condensed consolidated financial statements once the transaction is settled. During the third quarter of fiscal 2024, the Company repurchased 288,241 shares for $56.7 million under the Share Repurchase Authorization. As of March 31, 2024, a total of 1,243,080 shares have been repurchased under the Share Repurchase Authorization for $243.1 million, with the total remaining value being $56.9 million.

Revenue from Contracts with Customers (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue recognized that was previously deferred	$ 23,800		$ 112,100
Revenue from Contract with Customer, Excluding Assessed Tax	278,106	$ 229,878	$ 784,577	$ 723,535
Segment Reporting, Disclosure of Major Customers			not	not
Revenue recognized that was previously deferred	23,800		$ 112,100
OSI Inc.
Revenue from Contract with Customer, Excluding Assessed Tax	55,820	37,543	166,456	$ 124,638
SSE
Revenue from Contract with Customer, Excluding Assessed Tax	43,665	36,854	96,320	99,569
Heritage AspenTech
Revenue from Contract with Customer, Excluding Assessed Tax	$ 178,621	$ 155,481	$ 521,801	$ 499,328

- Definition

+ References

+ Details

Fair Value

9 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Fair Value

The Company determines 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 the Company has 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.” The Company’s 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.”


	March 31, 2024
	Level 1 Inputs		Level 2 Inputs

	(Dollars in Thousands)
Cash equivalents	$	68,868	$	—
Equity method investments	$	—	$	2,424


	June 30, 2023
	Level 1 Inputs		Level 2 Inputs

	(Dollars in Thousands)
Cash equivalents	$	132,918	$	—
Equity method investments	$	—	$	2,673

Financial instruments not measured or recorded at fair value in the accompanying condensed 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 10, “Debt”) 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

Cover Page - shares	9 Months Ended
Cover Page - shares	Mar. 31, 2024	Apr. 30, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-41400
Entity Registrant Name	ASPEN TECHNOLOGY, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	87-3100817
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, $0.0001 par value per share
Trading Symbol	AZPN
Security Exchange Name	NASDAQ
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
Entity Shell Company	false
Entity Central Index Key	0001897982
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Document Period End Date	Mar. 31, 2024
Entity Common Stock, Shares Outstanding		63,327,853

Stock Repurchases - Narrative (Details) - USD ($)			3 Months Ended			9 Months Ended
Stock Repurchases - Narrative (Details) - USD ($)	Aug. 07, 2023	May 05, 2023	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Mar. 31, 2024	Aug. 01, 2023
Stock Transactions, Parenthetical Disclosure [Abstract]
Treasury Stock, Value, Acquired, Cost Method			$ 56,737,000	$ 72,105,000	$ 114,224,000
Treasury Stock, Common
Stock Transactions, Parenthetical Disclosure [Abstract]
Treasury Stock, Shares, Acquired			288,241	375,041	686,843
Treasury Stock, Value, Acquired, Cost Method			$ (56,737,000)	$ (72,105,000)	$ (134,434,000)
Additional Paid-in Capital [Member]
Stock Transactions, Parenthetical Disclosure [Abstract]
Treasury Stock, Value, Acquired, Cost Method					$ 20,210,000
ASR Program
Stock Transactions, Parenthetical Disclosure [Abstract]
Accelerated Share Repurchases, Settlement (Payment) or Receipt		$ 100,000,000
Treasury Stock, Shares, Acquired	594,671
Treasury Stock, Value, Acquired, Cost Method	$ 100,000,000
ASR Program \| Initial Share Repurchase
Stock Transactions, Parenthetical Disclosure [Abstract]
Treasury Stock, Shares, Acquired		487,626
ASR Program \| Final Share Repurchase
Stock Transactions, Parenthetical Disclosure [Abstract]
Treasury Stock, Shares, Acquired	107,045
Aug 1 Share Repurchase Authorization Program
Stock Transactions, Parenthetical Disclosure [Abstract]
Treasury Stock, Shares, Acquired			288,241			1,243,080
Treasury Stock, Value, Acquired, Cost Method			$ 56,700,000			$ 243,100,000
Approved stock repurchase program, authorized amount (up to)							$ 300,000,000
Remaining capacity under the stock repurchase program			$ 56,900,000			$ 56,900,000