0001897982-24-000053 | 10-K | XBRL Viewer

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Goodwill - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Aug. 29, 2022	Jun. 30, 2022	May 16, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 8,328,201	$ 8,330,811	$ 63,000	$ 8,266,809	$ 7,224,483

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

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+ Details

Segment and Geographic Information

9 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Segment and Geographic Information

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

Prior to the Transaction, the Industrial Software Business had two operating and reportable segments: DGM and SSE. The Transaction resulted in the creation of a third operating and reportable segment: Heritage AspenTech. During the three months ended September 30, 2022, the Company completed certain integration activities and changes to its organizational structure that triggered a change in the composition of its operating and reportable segments. As a result, beginning with the interim period ended September 30, 2022, the Company is comprised of a single operating and reportable segment. Accordingly, the Company has restated its operating and reportable segment information for fiscal 2022. The Company’s chief operating decision maker is its President and Chief Executive Officer.

Geographic Information

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


	Revenue by Destination
	Year Ended June 30, 2024		Year ended June 30, 2023		Nine Months Ended June 30, 2022

	(Dollars in Thousands)
Americas	$	593,371	$	486,506	$	234,383
Asia, Middle East and Africa	261,754		281,974		85,955
Europe	272,357		275,698		84,958
Total	$	1,127,482	$	1,044,178	$	405,296

Americas included revenue in the United States of $483.6 million, $387.8 million, and $173.5 million for fiscal 2024, 2023, and 2022, respectively.


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

	(Dollars in Thousands)
Americas	$	13,643	$	15,793
Asia, Middle East and Africa	2,011		1,923
Europe	1,735		954
Total	$	17,389	$	18,670

Property, equipment, and leasehold improvements located in the United States were $11.2 million and $13.4 million, as of June 30, 2024 and 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

Revenue from Contracts with Customers (Notes)

12 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer [Text Block]

Revenue from Contracts with Customers

Contract Assets and Contract Liabilities

The contract assets are subject to credit risk and reviewed in accordance with 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 they 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 June 30, 2024. The Company’s contract assets and contract liabilities were as follows as of June 30, 2024 and 2023:


	June 30,
	2024		2023

	(Dollars in Thousands)
Contract assets	$	924,283	$	903,643
Contract liabilities	(151,824)		(181,553)
Net contract assets	$	772,459	$	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 fiscal 2024 was primarily due to greater revenue recognition as compared to billings. Revenue recognized during fiscal 2024 included $123.3 million that was included in the beginning contract liability balance.

Contract Costs

The Company pays commissions for new product sales and implementation services as well as for renewals of existing contracts. Commissions paid to obtain renewal contracts are not commensurate with the commissions paid for new product sales or implementation services, and therefore, a portion of the commissions paid for new contracts and implementation services relate to future renewals and are therefore deferred and amortized over an estimated period of benefit of four years to eight years.

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

Amortization of capitalized contract costs is included in selling and marketing expenses in the Company’s statement of operations.

Transaction Price Allocated to Remaining Performance Obligations

The following table includes the aggregate amount of the transaction price allocated as of June 30, 2024 to the performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period:


	Year Ended June 30,
	2025		2026		2027		2028		2029		Thereafter		Total

	(Dollars in Thousands)
License and solutions	$	189,332	$	54,100	$	19,444	$	9,620	$	2,428	$	1,897	$	276,821
Maintenance	315,015		217,528		160,071		104,419		57,933		23,337		878,303
Services and other	90,574		37,557		16,296		7,234		335		133		152,129
Total	$	594,921	$	309,185	$	195,811	$	121,273	$	60,696	$	25,367	$	1,307,253

- 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.

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+ Details

Revenue from Contracts with Customers Disaggregation of Revenue (Details) - USD ($) $ in Thousands	1 Months Ended	9 Months Ended	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2022	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Total revenue	$ 173,800	$ 405,296	$ 1,127,482	$ 1,044,178
Revenue from Contract with Customer, Excluding Assessed Tax		405,296	$ 1,127,482	$ 1,044,178	$ 482,311
Segment Reporting, Disclosure of Major Customers			not	not
Heritage AspenTech
Revenue from Contract with Customer, Excluding Assessed Tax		173,810	$ 785,734	$ 760,802
SSE
Revenue from Contract with Customer, Excluding Assessed Tax		88,272	122,565	120,092
OSI Inc.
Revenue from Contract with Customer, Excluding Assessed Tax		143,214	219,183	163,284
Term licenses
Revenue from Contract with Customer, Excluding Assessed Tax		278,589	701,574	669,185
Maintenance
Revenue from Contract with Customer, Excluding Assessed Tax		103,786	345,451	316,911
Professional services and other
Revenue from Contract with Customer, Excluding Assessed Tax		22,921	80,457	58,082
North America
Revenue from Contract with Customer, Excluding Assessed Tax		173,500	483,600	387,800
Europe
Revenue from Contract with Customer, Excluding Assessed Tax		$ 84,958	$ 272,357	$ 275,698

Cover Page - USD ($) $ in Billions	12 Months Ended
Cover Page - USD ($) $ in Billions	Jun. 30, 2024	Aug. 06, 2024
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Jun. 30, 2024
Current Fiscal Year End Date	--06-30
Document Transition Report	false
Entity File Number	001-41400
Entity Registrant Name	Aspen Technology, Inc
Entity Central Index Key	0001897982
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		63,254,548
Documents Incorporated by Reference [Text Block]	Portions of the registrant’s definitive proxy statement related to the registrant’s 2024 Annual Meeting of Stockholders to be filed with the Securities and Exchange Commission pursuant to Regulation 14A not later than 120 days after the end of the fiscal year covered by this Annual Report on Form 10-K are incorporated by reference in Part III, Items 10-14 of this Annual Report on Form 10-K.
Entity Public Float	$ 4.5
Document Financial Statement Error Correction [Flag]	false

Segment and Geographic Information - Narrative (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Geographic Information
Revenue from Contract with Customer, Excluding Assessed Tax	$ 405,296	$ 1,127,482	$ 1,044,178	$ 482,311
Property, equipment and leasehold improvements, net		17,389	18,670
Interest Income (Expense), Net	3,494	54,183	31,917	$ 3,222
United States
Geographic Information
Revenue from Contract with Customer, Excluding Assessed Tax	173,500	483,600	387,800
Property, equipment and leasehold improvements, net		11,200	13,400
Americas
Geographic Information
Revenue from Contract with Customer, Excluding Assessed Tax	234,383	593,371	486,506
Property, equipment and leasehold improvements, net		13,643	15,793
Europe
Geographic Information
Revenue from Contract with Customer, Excluding Assessed Tax	84,958	272,357	275,698
Property, equipment and leasehold improvements, net		1,735	954
Asia, Middle East and Africa
Geographic Information
Revenue from Contract with Customer, Excluding Assessed Tax	$ 85,955	261,754	281,974
Property, equipment and leasehold improvements, net		$ 2,011	$ 1,923

- 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.

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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

Reference 9: 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 10: 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 11: 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 12: 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 13: 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

Leases (Tables)

12 Months Ended

Jun. 30, 2024

Leases [Abstract]

Lease, Cost [Table Text Block]

Operating lease costs are recognized on a straight-line basis over the term of the lease. The components of total lease expense for fiscal 2024, 2023, and 2022 were as follows:


	Year Ended June 30, 2024		Year Ended June 30, 2023		Nine Months Ended June 30, 2022

	(Dollars in Thousands)
Operating lease expense	$	19,718	$	17,417	$	4,769
Variable lease expense	$	1,247	$	813	$	518
Short term lease expense	$	575	$	125	$	723

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


	June 30,
	2024		2023

	(Dollars in Thousands)
Operating lease right-of-use assets	$	96,034	$	67,642
Current operating lease liabilities	$	13,125	$	12,928
Non-current operating lease liabilities	$	84,875	$	55,442

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

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

The following table represents the future maturities of the Company’s operating lease liabilities as of June 30, 2024:


Year Ending June 30,	(Dollars in Thousands)
2025	$	13,330
2026	10,165
2027	14,111
2028	13,822
2029	13,049
Thereafter	90,752
Total lease payments	155,229
Less: imputed interest	(32,238)
Less: leasehold improvement incentives to be utilized	(24,991)
Total lease maturities	$	98,000

Revenue from Contracts with Customers Transaction Price Allocated to Remaining Performance Obligations (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Transaction price allocated to remaining performance obligations	$ 1,307,253
FY25
Transaction price allocated to remaining performance obligations	594,921
FY26
Transaction price allocated to remaining performance obligations	309,185
FY27
Transaction price allocated to remaining performance obligations	195,811
FY28
Transaction price allocated to remaining performance obligations	121,273
FY29
Transaction price allocated to remaining performance obligations	60,696
FY30 [Domain]
Transaction price allocated to remaining performance obligations	25,367
License and solutions
Transaction price allocated to remaining performance obligations	276,821
License and solutions \| FY25
Transaction price allocated to remaining performance obligations	189,332
License and solutions \| FY26
Transaction price allocated to remaining performance obligations	54,100
License and solutions \| FY27
Transaction price allocated to remaining performance obligations	19,444
License and solutions \| FY28
Transaction price allocated to remaining performance obligations	9,620
License and solutions \| FY29
Transaction price allocated to remaining performance obligations	2,428
License and solutions \| FY30 [Domain]
Transaction price allocated to remaining performance obligations	1,897
Maintenance
Transaction price allocated to remaining performance obligations	878,303
Maintenance \| FY25
Transaction price allocated to remaining performance obligations	315,015
Maintenance \| FY26
Transaction price allocated to remaining performance obligations	217,528
Maintenance \| FY27
Transaction price allocated to remaining performance obligations	160,071
Maintenance \| FY28
Transaction price allocated to remaining performance obligations	104,419
Maintenance \| FY29
Transaction price allocated to remaining performance obligations	57,933
Maintenance \| FY30 [Domain]
Transaction price allocated to remaining performance obligations	23,337
Services and other
Transaction price allocated to remaining performance obligations	152,129
Services and other \| FY25
Transaction price allocated to remaining performance obligations	90,574
Services and other \| FY26
Transaction price allocated to remaining performance obligations	37,557
Services and other \| FY27
Transaction price allocated to remaining performance obligations	16,296
Services and other \| FY28
Transaction price allocated to remaining performance obligations	7,234
Services and other \| FY29
Transaction price allocated to remaining performance obligations	335
Services and other \| FY30 [Domain]
Transaction price allocated to remaining performance obligations	$ 133

Income Taxes - Deferred Tax Assets (Liabilities) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Components of Deferred Tax Assets [Abstract]
Federal, state and foreign credits	$ 8,370	$ 7,171
Net operating loss carryforwards	12,235	10,720
Deferred revenue	15,507	15,962
Other reserves and accruals	21,575	22,346
Intangible assets	20,277	19,369
Deferred Tax Assets, in Process Research and Development	68,150	46,693
Property, leasehold improvements and other basis differences	10,820	4,186
Other temporary differences	1,531	2,660
Total gross deferred tax assets	158,465	129,107
Valuation allowance	(16,284)	(15,995)
Total net deferred tax assets	142,181	113,112
Components of Deferred Tax Liabilities [Abstract]
Intangible assets	(903,988)	(1,005,672)
Contract assets and costs	0	(41,643)
Deferred revenue	(5,822)	(3,315)
Property, leasehold improvements, and other basis differences	(11,883)	(5,820)
Other temporary differences	(4,186)	(3,935)
Total gross deferred tax liabilities	(925,879)	(1,060,385)
Net deferred tax (liabilities)	(783,698)	$ (947,273)
Deferred Tax Assets, Operating Loss Carryforwards, Foreign	$ 6,400

Leases (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2024	Jun. 30, 2023	Dec. 26, 2023
Lessee, Lease, Description [Line Items]
Lessor, Operating Lease, Option to Terminate		60 days
Operating Lease, Cost	$ 4,769	$ 19,718	$ 17,417
Operating Lease, Weighted Average Remaining Lease Term		11 years	9 years
Operating Lease, Weighted Average Discount Rate, Percent		4.00%	3.00%
2025		$ 13,330
2026		10,165
2027		14,111
2028		13,822
2029		13,049
Thereafter		90,752
Total lease payments		155,229
Less: leasehold improvement incentives to be utilized		(32,238)
Leasehold Improvements, Gross		24,991
Operating Lease, Liability		98,000
Operating lease right-of-use assets		96,034	$ 67,642
Current operating lease liabilities		13,125	12,928
Non-current operating lease liabilities		84,875	55,442
Variable Lease, Cost	518	1,247	813
Short-term Lease, Cost	$ 723	575	$ 125
Amortization expense - 2022		474,504
Amortization expense - 2023		$ 384,110
Additional ROU Asset and Lease Liability				$ 32,900
Additional ROU Asset and Lease Liability net of Leasehold Improvement Inventives				$ 25,400
Minimum [Member]
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Term of Contract		1 year
Maximum
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Term of Contract		14 years
Lessee, Operating Lease, Renewal Term		5 years

Goodwill (Tables)

12 Months Ended

Jun. 30, 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 fiscal 2024 and 2023 were as follows:


	Carrying Value
	(Dollars in Thousands)
Balance, June 30, 2022	$	8,266,809
Acquisition of Inmation	63,026
Purchase accounting adjustment from Heritage AspenTech acquisition	1,684
Foreign currency translation	(708)
Balance, June 30, 2023	$	8,330,811
Foreign currency translation	(2,610)
Balance, June 30, 2024	$	8,328,201

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

+ Details

Accounts Receivable (Details) - USD ($) $ in Thousands	12 Months Ended
Accounts Receivable (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Accounts receivable, gross	$ 119,949	$ 129,887
Allowance for doubtful accounts	(4,416)	(7,098)
Accounts receivable, net	$ 115,533	$ 122,789
Concentration risk, number of customers	no	no
Accounts Receivable [Member] \| Customer Concentration Risk [Member] \| Customer One [Member]
Percentage of total receivables	10.00%

Goodwill

12 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The changes in the carrying amount of goodwill during fiscal 2024 and 2023 were as follows:


	Carrying Value
	(Dollars in Thousands)
Balance, June 30, 2022	$	8,266,809
Acquisition of Inmation	63,026
Purchase accounting adjustment from Heritage AspenTech acquisition	1,684
Foreign currency translation	(708)
Balance, June 30, 2023	$	8,330,811
Foreign currency translation	(2,610)
Balance, June 30, 2024	$	8,328,201

Credit Agreement - Narrative (Details) $ in Millions	12 Months Ended
Credit Agreement - Narrative (Details) $ in Millions	Jun. 30, 2024 USD ($)	Jun. 27, 2024 USD ($)	Jun. 24, 2024	Dec. 23, 2022 USD ($)	Dec. 23, 2019 USD ($)
Line of Credit Facility [Line Items]
Maximum leverage ratio	4.00
Minimum interest coverage ratio	2.50
Letters of Credit Outstanding, Amount	$ 4.9
Minimum [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Commitment Fee Percentage	15.00%
Minimum [Member] \| Secured Overnight Financing Rate (SOFR)
Line of Credit Facility [Line Items]
Line of Credit Facility, Interest Rate During Period	1.25%
Minimum [Member] \| ABR and CBR Loans
Line of Credit Facility [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			25.00%
Maximum
Line of Credit Facility [Line Items]
Line of Credit Facility, Commitment Fee Percentage	30.00%
Maximum \| Secured Overnight Financing Rate (SOFR)
Line of Credit Facility [Line Items]
Line of Credit Facility, Interest Rate During Period	2.00%
Maximum \| ABR and CBR Loans
Line of Credit Facility [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			100.00%
Emerson Electric Co.
Line of Credit Facility [Line Items]
Debt Instrument, Face Amount				$ 630.0
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Face Amount	$ 195.1				$ 200.0
Second Amended and Restated Credit Agreement
Line of Credit Facility [Line Items]
Debt Instrument, Face Amount		$ 200.0
us-gaap_DebtInstrumentFaceAmount		$ 40.0
Secured Debt [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Face Amount					$ 320.0

Accounts Receivable (Notes)

12 Months Ended

Jun. 30, 2024

Receivables [Abstract]

Financing Receivables [Text Block]

Accounts Receivable

The Company’s accounts receivable, net of the related allowance for doubtful accounts, were as follows as of June 30, 2024 and 2023:


	June 30,
	2024		2023

	(Dollars in Thousands)
Accounts receivable, gross	$	119,949	$	129,887
Allowance for doubtful accounts	(4,416)		(7,098)
Account receivable, net	$	115,533	$	122,789

Significant Accounting Policies	12 Months Ended
Significant Accounting Policies	Jun. 30, 2024
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies (a) Revenue Recognition In accordance with ASC Topic 606, Revenue from Contracts with Customers, the Company accounts for a customer contract when both parties have approved the contract and are committed to perform their respective obligations, each party’s rights can be identified, payment terms can be identified, the contract has commercial substance, and it is probable that the Company will collect substantially all of the consideration to which they are entitled. The Company evaluates its contracts with customers to identify the promised goods or services and recognizes revenue for the identified performance obligations at the amount the Company expects to be entitled to in exchange for those goods or services. A performance obligation is a promise in a contract to transfer a distinct good or service to a customer. Revenue is recognized when, or as, performance obligations are satisfied, and control has transferred to the customer. The Company disaggregates its revenue into three categories: (i) license and solutions, (ii) maintenance and (iii) services and other. License and solutions License and solutions revenue is primarily derived from the sale of term software licenses. It also includes revenue derived from the sale of perpetual and term software licenses, along with professional services, sold by DGM. See Note 3, “Revenue from Contracts with Customers” and Note 21, “Segment and Geographic Information,” for additional information about the Company’s revenue disaggregated by region and type of performance obligation. Term 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. Prior to the third quarter of fiscal 2023, 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. Maintenance Software maintenance revenue is recognized ratably over the maintenance term and includes technical support, software assurance patch management services and the right to receive any when-and-if available updates to the software. For term software licenses, maintenance is included with the license. For perpetual software licenses, maintenance is initially sold with the license and subsequently sold separately, both primarily on an annual basis. Software maintenance does not significantly modify or otherwise depend on other performance obligations within the contracts and therefore is accounted for as a separate performance obligation. For maintenance sold with an integrated solution by DGM., the maintenance term begins once implementation is complete. Services and other Services and other revenue is derived from the sale of professional services and training. Professional service revenue, when not sold as part of an integrated solution by DGM, is provided to customers on a time-and-materials (“T&M”) or fixed-price basis. The obligation to provide professional services is generally satisfied over time, with the customer simultaneously receiving and consuming the benefits as the Company satisfies its performance obligation. Professional service revenue is recognized by measuring progress toward the completion of the Company’s obligations. The Company recognizes professional services revenue for its T&M contracts based upon hours worked at contractually agreed-upon hourly rates. Fixed-price engagements recognize revenue using the proportional performance method by comparing the costs incurred to the total estimated project cost. The use of the proportional performance method depends on the Company’s ability to reliably estimate the costs to complete a project. Historical experience is used as a basis for future estimates to complete current projects. Additionally, the Company believes that costs are the best available measure of performance. Out-of-pocket expenses which are reimbursed by customers are recorded as revenue. Training services provided to customers include on-site internet-based and customized training. These services are considered separate performance obligations as they do not significantly modify, integrate or otherwise depend on other performance obligations included in a contract. Revenue is recognized as the customer consumes the benefits of the services the Company provides. Contracts with Multiple Performance Obligations The Company allocates total contract consideration to each distinct performance obligation in an arrangement on a relative standalone selling price basis. The standalone selling price reflects the price that would be charged for a specific product or service if it was sold separately in similar circumstances and to similar customers. When two or more contracts are entered into at or near the same time with the same customer, the Company evaluates the facts and circumstances associated with the negotiation of those contracts. Where the contracts are negotiated as a package, the Company will account for them as a single arrangement and allocate the consideration for the combined contracts among the performance obligations accordingly. When available, the Company uses directly observable transactions to determine the standalone selling prices for performance obligations. If directly observable data is not available when software licenses are sold together with software maintenance in a bundled arrangement, the Company estimates a standalone selling price for these distinct performance obligations using relevant information, including the Company’s overall pricing objectives and strategies, historical pricing data, market consideration and other factors. Contract Modifications The Company sometimes enters into agreements to modify previously executed contracts, which constitute contract modifications. The Company assesses each of these contract modifications to determine (i) if the additional products and services are distinct from the products and services in the original arrangement; and (ii) if the amount of consideration expected for the added products and services reflects the standalone selling price of those products and services, as adjusted for contract-specific circumstances. A contract modification meeting both criteria is accounted for as a separate contract. A contract modification not meeting both requirements is considered a change to the original contract and is accounted for on either (i) a prospective basis as a termination of the existing contract and the creation of a new contract or (ii) a cumulative catch-up basis. Contract Assets and Contract Liabilities Payment terms and conditions vary by contract type. Terms generally include a requirement of payment annually over the term of the license arrangement. During the majority of each customer contract term, the amount invoiced is generally less than the amount of revenue recognized to date, primarily because the Company transfers control of the performance obligation related to the software license at the inception of the contract term, and the allocation of contract consideration to the license performance obligation is a significant portion of the total contract consideration. Therefore, the Company’s contracts often result in the recording of a contract asset throughout the majority of the contract term. The Company records a contract asset when revenue recognized on a contract exceeds the billings. The Company records accounts receivable when it has the unconditional right to issue an invoice and receive payment regardless of whether revenue has been recognized. If revenue is not yet recognizable and the Company has a right to invoice or has received consideration, a contract liability is recorded to defer the revenue until recognition is appropriate. If revenue is recognizable in advance of the right to invoice, and the right to consideration is conditional on something other than the passage of time, a contract asset is recorded until invoicing occurs. The Company defers unearned maintenance and service revenue when it has the right to invoice, with recognition of the revenue recognized over the support period. Contract assets and contract liabilities are presented net at the contract level for each reporting period. Payment Terms The Company generally receives payment from a customer after the performance obligation related to the term license has been satisfied, and therefore, its contracts with terms greater than one year generally contain a significant financing component. The significant financing component is calculated utilizing an interest rate that derives the net present value of the performance obligations delivered on an upfront basis based on the allocation of consideration. The Company has instituted a customer portfolio approach in assigning interest rates. The rates are determined at contract inception and are based on the credit characteristics of the customers within each portfolio. Perpetual software licenses, sold along with professional services and hardware as an integrated solution, generally require payments from the customer aligned with progress milestones in the contract. Payment terms on invoiced amounts are typically net 30 days. The Company does not offer return rights for its products and services in the ordinary course of business, and contracts generally do not include customer acceptance clauses. (b) Management Estimates The preparation of the consolidated and combined financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that could affect the reported amounts of assets, liabilities, revenue and expenses for the periods presented. Actual results could differ from those estimates. (c) Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk are principally cash and cash equivalents, contract assets, and accounts receivable. The Company’s cash is held in financial institutions and its cash equivalents are invested in money market funds that the Company believes to be of high credit quality. Concentration of credit risk with respect to contract assets and accounts receivables is limited to certain customers to which the Company makes substantial sales. To reduce risk, the Company assesses the financial strength of the Company's customers. The Company does not require collateral or other security in support of its contact assets and accounts receivables. As of June 30, 2024 and 2023, the Company had no customer receivable balances that represented 10% or more of its total accounts receivable. (d) Cash and Cash Equivalents and Restricted Cash Cash and cash equivalents consist of highly liquid investments with original maturities of three months or less. Effective June 30, 2024, the Company now also now classifies cash balances that are both held in Russia and in excess of what it estimates will be required to wind down its operations in Russia in fiscal 2025 as restricted cash due to current restrictions impacting the Company’s ability to transfer funds from bank accounts located in Russia to other countries. Restricted cash is included within other non-current assets on the consolidated balance sheets. As of June 30, 2024, the restricted cash held in Russia was $11.5 million. (e) Foreign Currency Translation The determination of the functional currency of subsidiaries is based on the subsidiaries’ financial and operational environment. Gains and losses from foreign currency translation related to entities whose functional currency is not the Company’s reporting currency are credited or charged to accumulated other comprehensive loss included in stockholders’ equity in the consolidated balance sheets. In all instances, foreign currency transaction and remeasurement gains or losses are credited or charged to the consolidated and combined statements of operations as incurred as a component of other (expense) income, net. There were net foreign currency transaction and remeasurement losses of $9.1 million, gains of $4.1 million, and losses of $0.3 million in fiscal 2024, 2023, and 2022, respectively. (f) Fair Value Measurement ASC 820, Fair Value Measurement, establishes a formal hierarchy and framework for measuring certain financial statement items at fair value, and requires disclosures about fair value measurements and the reliability of valuation inputs. Under ASC 820, measurement assumes the transaction to sell an asset or transfer a liability occurs in the principal or at least the most advantageous market for that asset or liability. Within the hierarchy, Level 1 instruments use observable market prices for the identical item in active markets and have the most reliable valuations. Level 2 instruments are valued through broker/dealer quotation or through market-observable inputs for similar items in active markets, including forward and spot prices, interest rates and volatilities. Level 3 instruments are valued using inputs not observable in an active market, such as Business-developed future cash flow estimates, and are considered the least reliable. (g) Business Combinations Identifying the acquirer in a business combination is based on the concept of ‘control’. Normally, where an acquisition is affected by an exchange of equity interests, the shareholders of the entity that issues securities (the legal parent entity) retain the majority holding in the combined group. The cost of an acquisition is measured as the aggregate of the consideration transferred, which is measured at acquisition date fair value. Any contingent consideration to be transferred by the acquirer will be recognized at fair value at the acquisition date. Assets and liabilities acquired in business combinations are accounted for using the acquisition method and recorded at their respective fair values. Goodwill represents the excess of consideration paid over the net assets acquired and is assigned to the reporting unit that acquires the business. The Company uses its best estimates and assumptions to assign fair value to the tangible and intangible assets acquired and liabilities assumed at the acquisition date. The Company’s estimates are inherently uncertain and subject to refinement. During the measurement period, which may be up to one year from the acquisition date, the Company may record adjustments to the fair value of these tangible and intangible assets acquired and liabilities assumed, with the corresponding offset to goodwill. In addition, uncertain tax positions, tax-related valuation allowances and pre-acquisition contingencies are initially recorded in connection with a business combination as of the acquisition date. The Company continues to collect information and reevaluates these estimates and assumptions quarterly and records any adjustments to the Company’s preliminary estimates to goodwill provided that the Company is within the measurement period. Upon the conclusion of the measurement period or final determination of the fair value of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the Company’s consolidated and combined statement of operations. Acquisition-related costs are expensed as incurred and included in operating expenses. The majority of acquisition-related costs incurred by Heritage AspenTech incurred prior to or in connection with the closing of the Transaction are not included within the accompanying consolidated and combined statements of operations. (h) Intangible Assets Intangible Assets Acquired in a Business Combination ASC 805, Business Combinations, requires the identification of acquired intangible assets as part of a business combination. Acquired intangible assets generally consist of intellectual property such as technology and trademarks, customer relationships and backlog. The methods used to value such intangible assets require the use of estimates including forecast performance discount rates and customer attrition rates. Future results are impacted by the amortization periods adopted and changes to the estimated useful lives would result in different effects on the consolidated and combined statements of operations. Computer Software Developed for Internal Use Computer software developed for internal use is capitalized in accordance with ASC 350-40, Intangibles Goodwill and Other—Internal Use Software. The Company capitalizes costs incurred to develop internal-use software during the application development stage after determining software technological requirements and obtaining management approval for funding projects probable of completion. In fiscal 2024, 2023 and 2022, there were no capitalized direct labor costs associated with the Company’s development of software for internal use. Computer Software Developed for Sale Computer software developed for sale is capitalized in accordance with ASC 985-20, Software - Costs of Software to Be Sold, Leased, or Marketed. Capitalization of computer software development costs begins upon establishing technological feasibility defined as meeting specifications determined by the program design. Amortization of capitalized computer software development costs is provided on a product-by-product basis using the greater of (a) the amount computed using the ratio that current gross revenue for a product bear to total of current and anticipated future gross revenue for that product or (b) the straight-line method, beginning upon commercial release of the product, and continuing over the remaining estimated economic life of the product, not to exceed three years. Total computer software costs capitalized and total amortization expense charged to operations were not material for fiscal 2024, 2023 or 2022. Amortization Expense All of the Company’s identifiable finite-lived intangible assets are subject to amortization on a straight-line basis over their estimated useful lives. Each period, the Company evaluates the estimated remaining useful life of its intangible assets and whether events or changes in circumstances warrant a revision to the remaining period of amortization. Amortization expenses associated with developed technology and capitalized costs relating to computer software developed for sale are included in cost of revenue, while amortization expenses associated with customer relationships and backlog are included in the selling and marketing. Amortization expenses associated with computer software developed for internal use are included in each respective financial statement caption based on which business function the software is attributable to. Each period, the Company evaluates the estimated remaining useful lives of intangible assets to determine whether events or changes in circumstances warrant a revision to the remaining period of amortization. Intangible assets are removed from the accounts when fully amortized and no longer in use. (i) Property, Equipment and Leasehold Improvements The Company records investments in leasehold improvements and equipment at cost. Depreciation is recorded using the straight-line method over the estimated service lives, which for equipment is three years to 10 years and for leasehold improvements, is the remaining term of the lease or the life of the underlying asset, whichever is shorter. (j) Impairment Assessment Finite-lived Intangible Assets and Long-lived Assets The Company evaluates finite-lived intangible assets and long-lived assets for possible impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. This includes but is not limited to significant adverse changes in business climate, market conditions or other events that indicate an asset’s carrying amount may not be recoverable. Recoverability of these assets is measured by comparing the carrying amount of each asset to the future undiscounted cash flows the asset is expected to generate. If the undiscounted cash flows used in the test for recoverability are less than the carrying amount of these assets, the carrying amount of such assets is reduced to fair value. Goodwill and Indefinite-lived Intangible Assets The Company evaluates and tests the recoverability of its: (i) goodwill, and (ii) indefinite-lived intangible assets (which consists entirely of the trademark associated with the Transaction), for impairment at least annually on May 31 of each fiscal year or more often if and when circumstances indicate that goodwill or the indefinite-lived intangible asset may not be recoverable. The Company first assesses qualitative factors to determine whether the existence of events or circumstances indicates that it is more likely than not that the fair value of a reporting unit or fair value of an indefinite-lived intangible asset is less than its carrying amount. If the Company determines based on this assessment that it is more likely than not that the fair value of a reporting unit or fair value of an indefinite-lived intangible asset is less than its carrying amount, the Company performs the impairment test. The first step requires the Company to determine the fair value of the reporting unit or fair value of an indefinite-lived intangible asset and compare it to the carrying amount of the reporting unit, including goodwill, or carrying amount of the indefinite-lived intangible asset. If the fair value exceeds the carrying amount, no impairment loss is recognized. However, if the carrying amount of the reporting unit or indefinite-lived intangible asset exceeds its fair value, the goodwill of the reporting unit is impaired or the indefinite-lived intangible asset is impaired. There were no impairments of intangible assets, long-lived assets or goodwill during fiscal 2024, 2023 and 2022, respectively. (k) Leases The Company leases offices and equipment under operating lease arrangements. The Company determines whether an arrangement is, or contains, a lease at contract inception. An arrangement contains a lease if the Company has the right to direct the use of and obtain substantially all of the economic benefits of an identified asset. Right-of-use assets and lease liabilities are recognized at lease commencement based on the present value of lease payments over the lease term. Leases with an initial term of 12 months or less are not recognized on the consolidated balance sheets and are recorded as short-term lease expense. The discount rate used to calculate present value is the Company’s incremental borrowing rate based on the lease term and the economic environment of the applicable country or region. Certain leases have renewal options or options to terminate prior to lease expiration, which are included in the measurement of right-of-use assets and lease liabilities when it is reasonably certain they will be exercised. The Company has elected to account for lease and non-lease components as a single lease component for its office facilities. Some lease arrangements include payments that are adjusted periodically based on actual charges incurred for common area maintenance, utilities, taxes and insurance, or changes in an index or rate referenced in the lease. The fixed portion of these payments is included in the measurement of right-of-use assets and lease liabilities at lease commencement, while the variable portion is recorded as variable lease expense. The Company’s leases do not contain material residual value guarantees or restrictive covenants. (l) Derivatives and Hedging The Company previously utilized derivative instruments to manage exposures to foreign currency exchange rate risks. The primary objective of holding derivatives was to reduce the volatility of cash flows associated with changes in foreign currency exchange rates. The Company accounts for derivative transactions in accordance with ASC Topic 815, Derivatives and Hedging, and recognizes derivatives instruments as either assets or liabilities in the consolidated balance sheets and measures those instruments at fair value. The Company’s foreign currency forward contracts as described in Note 16 “Derivatives” did not qualify for hedge accounting. Accordingly, the changes in fair value of the derivative transactions are presented in earnings. (m) Comprehensive (Loss) Income Comprehensive (loss) income is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. Comprehensive (loss) income and its components for fiscal 2024, 2023 and 2022 are disclosed in the accompanying consolidated and combined statements of comprehensive (loss) income. (n) Accounting for Stock-Based Compensation Substantially all stock-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as expense over the requisite service period. (o) Income Taxes Deferred income taxes are recognized based on temporary differences between the financial statement and tax bases of assets and liabilities. Deferred tax assets and liabilities are measured using the statutory tax rates and laws expected to apply to taxable income in the years in which the temporary differences are expected to reverse. Valuation allowances are provided against net deferred tax assets if, based upon the available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income and the timing of the temporary differences becoming deductible. Management considers, among other available information, scheduled reversals of deferred tax liabilities, projected future taxable income, limitations of availability of net operating loss carryforwards, and other matters in making this assessment. The Company does not provide deferred taxes on unremitted earnings of foreign subsidiaries since they intend to indefinitely reinvest either currently or sometime in the foreseeable future. Unrecognized provisions for taxes on undistributed earnings of foreign subsidiaries, which are considered indefinitely reinvested, are not material to its consolidated and combined financial position or results of operations. The Company is continuously subject to examination by the Internal Revenue Service (the “IRS”), as well as various state and foreign jurisdictions. The IRS and other taxing authorities may challenge certain deductions and credits reported by the Company on its income tax returns. In accordance with provisions of ASC 740, an entity should recognize a tax benefit when it is more-likely-than-not, based on the technical merits, that the position would be sustained upon examination by a taxing authority. The amount to be recognized, if the more-likely-than-not threshold was passed, should be measured as the largest amount of tax benefit that is greater than 50 percent likely of being realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. Furthermore, any change in the recognition, de-recognition or measurement of a tax position should be recorded in the period in which the change occurs. The Company accounts for interest and penalties related to uncertain tax positions as part of the provision for income taxes. (p) Loss Contingencies The Company accrues estimated liabilities for loss contingencies arising from claims, assessments, litigation and other sources when it is probable that a liability has been incurred and the amount of the claim assessment or damages can be reasonably estimated. The Company believes it has sufficient accruals to cover any obligations resulting from claims, assessments or litigation that have met these criteria. (q) Research and Development Expense The Company charges research and development expenditures to expense as the costs are incurred. Research and development expenses consist primarily of personnel expenses related to the creation of new products, enhancements and engineering changes to existing products and costs of acquired technology prior to establishing technological feasibility. (r) Net Parent Investment The net parent investment balance included in the consolidated balance sheets represents Emerson’s historical investment in the Industrial Software Business, the Industrial Software Business’s accumulated net earnings after income taxes, and the net effect of transactions with Emerson prior to the Transaction. (s) New Accounting Pronouncements Adopted in Fiscal 2024 and 2023 There were no new accounting pronouncements adopted in fiscal 2024 and 2023. (t) Recently Issued Accounting Pronouncements 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.

Derivative Instruments and Hedging Activities	12 Months Ended
Derivative Instruments and Hedging Activities	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Fair Value	Derivatives In connection with the agreement to purchase Mining Software Holdings Pty Ltd (“Micromine”), the Company entered into a series of foreign currency forward contracts during fiscal 2023 to mitigate the impact of foreign currency exchange associated with the forecasted payment of the purchase price. On June 21, 2023, the Company terminated all outstanding foreign currency forward contracts. As a result, the Company recognized net realized losses of $26.2 million for the year ended June 30, 2023, included in other (expense) income, net on the consolidated and combined statements of operations related to these contracts. There are no outstanding forward currency forward contracts, or any other derivative contracts, as of June 30, 2024 and 2023.

Income Taxes - Reconciliation of the Reserve For Uncertain Tax Positions (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Reconciliation of the reserve for uncertain tax positions
Unrecognized Tax Benefits, Beginning Balance	$ 7,561	$ 6,716
Gross (decreases) increases - tax positions in prior period	1,492	1,011
Unrecognized Tax Benefits, Increase Resulting from Current Period Tax Positions	688	1,657
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions	(827)	0
Unrecognized Tax Benefits, Increase Resulting from Foreign Currency Translation	(1,584)	(1,823)
Unrecognized Tax Benefits, Ending Balance	$ 7,330	$ 7,561

Significant Accounting Policies - Comprehensive Income (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2024	Jun. 30, 2023
Accounting Policies [Abstract]
Foreign currency translation adjustments	$ 289	$ (10,763)	$ 7,548

Acquisitions (Tables) - USD ($)
$ / shares in Units, $ in Thousands

1 Months Ended

8 Months Ended

9 Months Ended

12 Months Ended

Aug. 29, 2022

May 16, 2022

Oct. 10, 2021

Jun. 30, 2022

May 16, 2022

Jun. 30, 2022

Jun. 30, 2024

Jun. 30, 2023

Jun. 30, 2022

Sep. 30, 2021

Business Acquisition [Line Items]

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables

$ 43,163

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable

56,005

Acquisitions

inmation Software GmbH (“Inmation”)

On August 29, 2022, the Company completed the acquisition of 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. 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, 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 of its shares in Inmation, with another $1.9 million paid for an indemnification holdback 12 months after the close on August 18, 2023.

Heritage AspenTech

On October 10, 2021, Emerson entered into the Transaction with Heritage AspenTech to contribute the Industrial Software Business comprised of DGM and SSE, along with $6.014 billion in cash, to create AspenTech. On the Closing Date, Emerson owned 55% of the outstanding common shares of AspenTech on a fully diluted basis, while the stockholders of Heritage AspenTech owned the remaining 45%. The acquisition-date fair value of the purchase consideration totaled $11.188 billion, which was determined as follows:


	Consideration Transferred
	(in thousands)
Fair value of Heritage AspenTech common stock (66,662,482 common shares)	$	11,085,971
Stock-based compensation awards attributable to pre-combination service	102,305
Total purchase consideration	$	11,188,276

The fair value of the shares of Heritage AspenTech common stock was determined based on the closing market price of Heritage AspenTech common stock on the Closing Date. The Company also replaced Heritage AspenTech equity awards with AspenTech equity awards. As a result, the portion of the aggregate fair-value of the replacement awards attributable to the pre-combination service period was included in the computation of the fair value of consideration transferred. See Note 13, “Stock-Based Compensation”. Of the total cash contribution of $6.014 billion made by Emerson to the Industrial Software Business, $5.846 billion was paid in cash to the holders of Heritage AspenTech common stock at $87.69 per share (on a fully diluted basis), with $168.3 million of cash remaining on AspenTech’s consolidated balance sheets as of the Closing Date which is not included in the allocation of purchase consideration above. Additionally, the holders of Heritage AspenTech common stock received 27,998,104 shares of AspenTech common stock, with an aggregate fair value of $5.240 billion.

The following table summarizes the estimated fair value of the assets acquired and liabilities assumed on the Closing Date:


	Fair Value
	(Dollars in Thousands)
Cash and cash equivalents	$	273,728
Accounts receivable	43,163
Current and non-current contract assets	730,548
Intangible assets	4,390,667
Other net assets acquired	66,753
Total asset acquired (excluding Goodwill)	5,504,859
Accounts payable, accrued expenses, and other current liabilities	56,005
Current and non-current deferred revenue	62,319
Current and non-current borrowings under credit agreement	282,000
Deferred income taxes	1,078,463
Other net liabilities assumed	62,279
Total liabilities assumed	1,541,066
Net identifiable assets acquired	3,963,793
Goodwill	7,224,483
Net assets acquired	$	11,188,276

Of the $4.391 billion of acquired intangible assets, $430.0 million was assigned to registered trademarks that are not subject to amortization and were recognized at fair value on the acquisition date. The remaining $3.961 billion of acquired intangible assets are being amortized straight-line over their estimated useful lives. The definite-lived intangible assets include acquired developed technology of $1.350 billion (10-year useful life), customer relationships of $2.301 billion (15-year useful life), and backlog of $310.0 million (three-year useful life).

The $7.223 billion of goodwill is attributable primarily to expected synergies and the assembled workforce. $34.0 million of the goodwill is expected to be deductible for income tax purposes. During the year ended June 30, 2023, the Company recorded purchase price allocation adjustments that increased goodwill by $1.7 million.

Heritage AspenTech’s revenue and earnings included in the Company’s consolidated and combined statement of operations from the acquisition date to the period ending June 30, 2022 are $173.8 million and $71.8 million, respectively.

Pro forma Financial Information (Unaudited)

The following unaudited pro forma consolidated financial results of operations are presented as if the Heritage AspenTech acquisition occurred on October 1, 2020. The unaudited pro forma information is presented for informational purposes only and is not indicative of the results of operations that would have been achieved had the acquisition occurred as of that time.


	Nine Months Ended June 30, 2022		Year Ended September 30, 2021

	(Dollars in Thousands)
Total revenue	$	819,098	$	1,031,065
Net income (loss)	$	18,193	$	(55,410)

Business Acquisition, Goodwill, Expected Tax Deductible Amount

$ 34,000

Business Acquisition, Percentage of Voting Interests Acquired

45.00%

Business Acquisition, Pro Forma Net Income (Loss)

$ 18,193

$ (55,410)

Business Acquisition, Pro Forma Revenue

819,098

$ 1,031,065

Business Acquisitions, Purchase Price Allocation, Subsequent Years, Remaining Adjustments

$ 1,700

Business Combination, Consideration Transferred, Cash Paid

$ 78,900

Business Combination, Consideration Transferred, Cash Acquired

6,400

Business Combination, Consideration Transferred, Equity Interests Issued and Issuable

$ 102,305

Business Combination, Consideration Transferred, Exchange of Shares

17,600

Business Combination, Consideration Transferred, Exchange of Shares, After

1,900

Business Combination, Consideration Transferred, Net Cash Paid

72,500

Business Combination, Consideration Transferred, Hold Back

8,300

Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net

11,188,276

$ 11,188,276

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Long-term Debt

282,000

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles

31,500

4,390,667

Cash Acquired from Acquisition

5,846,000

Cash and cash equivalents

273,728

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities

1,078,463

Deferred Revenue

62,319

Finite-Lived Intangible Assets, Accumulated Amortization

$ 1,289,816

802,409

Goodwill

63,000

7,224,483

$ 8,266,809

7,224,483

8,266,809

8,328,201

8,330,811

$ 8,266,809

Intangible assets, net

3,961,000

4,184,750

4,659,657

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net

3,963,793

Net (loss) income

66,369

(13,223)

53,146

(9,771)

(107,760)

$ 41,944

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets

66,753

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other

62,279

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other

730,548

Other Payments to Acquire Businesses

$ 168,300

Operating Lease, Liability

98,000

Schedule of recognized identified assets acquired and liabilities assumed

The following table summarizes the estimated fair value of the assets acquired and liabilities assumed on the Closing Date:


	Fair Value
	(Dollars in Thousands)
Cash and cash equivalents	$	273,728
Accounts receivable	43,163
Current and non-current contract assets	730,548
Intangible assets	4,390,667
Other net assets acquired	66,753
Total asset acquired (excluding Goodwill)	5,504,859
Accounts payable, accrued expenses, and other current liabilities	56,005
Current and non-current deferred revenue	62,319
Current and non-current borrowings under credit agreement	282,000
Deferred income taxes	1,078,463
Other net liabilities assumed	62,279
Total liabilities assumed	1,541,066
Net identifiable assets acquired	3,963,793
Goodwill	7,224,483
Net assets acquired	$	11,188,276

Total revenue

$ 173,800

$ 405,296

1,127,482

1,044,178

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets

$ 5,504,859

5,504,859

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities

$ 1,541,066

1,541,066

Business Acquisition, Pro Forma Information


	Nine Months Ended June 30, 2022		Year Ended September 30, 2021

	(Dollars in Thousands)
Total revenue	$	819,098	$	1,031,065
Net income (loss)	$	18,193	$	(55,410)

Schedule of Business Acquisitions, by Acquisition

The acquisition-date fair value of the purchase consideration totaled $11.188 billion, which was determined as follows:


	Consideration Transferred
	(in thousands)
Fair value of Heritage AspenTech common stock (66,662,482 common shares)	$	11,085,971
Stock-based compensation awards attributable to pre-combination service	102,305
Total purchase consideration	$	11,188,276

Patented Technology [Member]

Business Acquisition [Line Items]

Finite-Lived Intangible Assets, Accumulated Amortization

537,492

341,964

Intangible assets, net

$ 1,350,000

$ 1,366,107

$ 1,561,635

Heritage AspenTech

Business Acquisition [Line Items]

Business Acquisition, Share Price

$ 87.69

Business Combination, Consideration Transferred

$ 6,014,000

Goodwill

$ 7,223,000

Inmation Software GmbH [Member]

Business Acquisition [Line Items]

Business Combination, Consideration Transferred

$ 87,200

Minimum [Member]

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

Goodwill - Schedule of Goodwill (Details) - USD ($) $ in Thousands		12 Months Ended
	Aug. 29, 2022	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022	May 16, 2022
Goodwill:
Goodwill	$ 63,000	$ 8,328,201	$ 8,330,811	$ 8,266,809	$ 7,224,483
Goodwill from acquisitions, net of adjustments	$ 63,026
Goodwill, effect of currency translation		$ (2,610)	(708)
Goodwill, Translation and Measurement Period Adjustments			$ 1,684

- Definition

+ References

+ Details

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Current assets:
Cash and cash equivalents	$ 236,970	$ 241,209
Accounts receivable, net	115,533	122,789
Current contract assets, net	409,177	367,539
Prepaid expenses and other current assets	27,441	27,728
Prepaid income taxes	8,462	11,424
Total current assets	876,066	833,064
Property, equipment and leasehold improvements, net	17,389	18,670
Goodwill	8,328,201	8,330,811
Intangible assets, net	4,184,750	4,659,657
Non-current contract assets, net	515,106	536,104
Contract costs	24,903	15,992
Operating lease right-of-use assets	96,034	67,642
Deferred income tax assets	6,989	10,638
Other non-current assets	22,269	13,474
Total assets	14,071,707	14,486,052
Current liabilities:
Accounts payable	8,099	20,299
Accrued expenses and other current liabilities	100,167	99,526
Current operating lease liabilities	13,125	12,928
Income taxes payable	44,249	46,205
Current contract liabilities	124,312	151,450
Total current liabilities	337,401	352,427
Non-current contract liabilities	27,512	30,103
Deferred income tax liabilities	790,687	957,911
Non-current operating lease liabilities	84,875	55,442
Other non-current liabilities	$ 18,377	$ 19,240
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, outstanding	63,251,495	64,465,242
Common stock, issued	65,367,159	64,952,868
Common stock, authorized	600,000,000	600,000,000
Stockholders' equity:
Common stock, $0.0001 par value Authorized—600,000,000 shares Issued— 65,367,159 and 64,952,868 shares Outstanding— 63,251,495 and 64,465,242 shares	$ 7	$ 6
Additional paid-in capital	13,277,851	13,194,028
Accumulated deficit	(51,162)	(41,391)
Accumulated other comprehensive (loss) income	$ (7,261)	$ 2,436
Treasury Stock, Common, Shares	2,115,664	487,626
Treasury stock, at cost- 2,115,664 and 487,626 shares of common stock	$ (406,580)	$ (84,150)
Total stockholders’ equity	12,812,855	13,070,929
Total liabilities and stockholders’ equity	14,071,707	14,486,052
Related Party
Current assets:
Receivables from related parties	78,483	62,375
Current liabilities:
Due to related parties	47,449	22,019
Stockholders' equity:
Receivables from related parties	78,483	62,375
Due to related parties	47,449	22,019
Receivables from related parties	78,483	62,375
Due to related parties	$ 47,449	$ 22,019

Insider Trading Arrangements	12 Months Ended
Insider Trading Arrangements	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Intangible Assets (Tables)

12 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

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


Year Ended June 30,	Amortization Expense
	(Dollars in Thousands)
2025	$	474,504
2026	384,110
2027	383,826
2028	375,160
2029	362,344
Thereafter	1,774,806
Total	$	3,754,750

Intangible assets

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


	Developed Technology		Trademarks		Customer Relationships and Backlog		Capitalized Software and Other		Total

June 30, 2024:	(Dollars in Thousands)
Gross carrying amount	$	1,903,599	$	464,400	$	3,082,541	$	24,026	$	5,474,566
Less: Accumulated amortization	(537,492)		(17,931)		(724,270)		(10,123)		(1,289,816)
Net carrying amount	$	1,366,107	$	446,469	$	2,358,271	$	13,903	$	4,184,750


	Developed Technology		Trademarks		Customer Relationships and Backlog		Capitalized Software and Other		Total

June 30, 2023:	(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 $4.2 billion as of June 30, 2024, $430.0 million relates to the registered trademarks associated with the Transaction that are not subject to amortization.

Total intangible asset amortization expense for fiscal 2024, 2023 and 2022 was $487.2 million, $485.9 million and $116.7 million, respectively.

Interim Reporting (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		1 Months Ended	8 Months Ended	9 Months Ended	12 Months Ended
	May 16, 2022	Jun. 30, 2022	May 16, 2022	Jun. 30, 2022	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022	Sep. 30, 2021	Jun. 30, 2021
Quarterly Financial Information Disclosure [Abstract]
Increase (Decrease) in Accounts Receivable				$ (11,204)	$ (4,918)	$ 25,538	$ 4,486
Increase (Decrease) in Contract with Customer, Asset				78,122	22,344	21,658	82,898
Increase (Decrease) in Deferred Charges				4,992	9,186	10,165	4,992
Increase (decrease) in lease liabilities				5,558	15,495	13,655	5,979
Increase (Decrease) in Prepaid Expense and Other Assets				8,776	40,309	(7,625)	6,965
Accounts payable, accrued expenses, income taxes payable and other liabilities				(23,674)	46,476	18,315	(25,908)
Contract liabilities				22,431	(29,671)	16,979	17,291
Net Cash Provided by (Used in) Operating Activities				28,962	339,886	299,209	19,776
Payments to Acquire Property, Plant, and Equipment				(2,263)	(4,432)	(6,577)	(4,870)
Proceeds from Sale of Property, Plant, and Equipment				(91)	0	0	(91)
Payments for business acquisitions, net of cash acquired	$ (11,188,276)			(5,571,931)	(8,273)	(72,498)	(5,572,996)
Payments for equity method investments				(24)	(318)	(700)	(24)
Payments for Software to be Sold				508	183	366	508
Purchase of other assets				(553)	0	(1,000)	(838)
Net Cash Provided by (Used in) Investing Activities				(5,575,188)	(25,706)	(107,317)	(5,579,145)
Issuance of shares of common stock				5,702	25,807	36,736	5,702
Payments related to tax withholding				(1,676)	(20,380)	(20,836)	(1,676)
Payments for Deferred Business Acquisition Costs				1,200	0	1,363	1,200
Repayments of Lines of Credit					0
Proceeds from Contributions from Parent				(5,971,995)	(2,008)	(19,933)	(5,987,190)
Net Cash Provided by (Used in) Financing Activities				5,968,821	(294,273)	(383,771)	5,984,016
Effect of exchange rate changes on cash and cash equivalents and restricted cash				1,417	(12,648)	(16,637)	1,419
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect				424,012	7,259	(208,516)	426,066
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents		$ 449,725		449,725	248,468	241,209	449,725	$ 25,713	$ 23,659
Net foreign currency losses (gains)				(300)	9,100	4,100
Total revenue		173,800		405,296	1,127,482	1,044,178
Gross profit				248,900	744,906	670,589	282,395
Operating Income (Loss)				36,157	(89,540)	(183,065)	22,272
Net (loss) income		66,369	$ (13,223)	$ 53,146	$ (9,771)	$ (107,760)	$ 41,944
Basic				$ 1.30	$ (0.15)	$ (1.67)	$ 1.05
Earnings Per Share, Diluted				$ 1.30	$ (0.15)	$ (1.67)	$ 1.05
Basic				40,931	63,711	64,621	39,768
Diluted				41,008	63,711	64,621	39,845
Revenue from Contract with Customer, Excluding Assessed Tax				$ 405,296	$ 1,127,482	$ 1,044,178	$ 482,311
Total cost of revenue				156,396	382,576	373,589	199,916
Operating Expenses				212,743	834,446	853,654	260,123
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest				39,961	(43,835)	(180,566)	24,446
Other (expense) income, net				(310)	(8,478)	(29,418)	(1,048)
Interest Income (Expense), Net				3,494	54,183	31,917	3,222
Benefit for income taxes				(13,185)	(34,064)	(72,806)	(17,498)
Depreciation and amortization				119,930	493,009	491,419	150,350
Reduction in the carrying amount of right-of-use assets				5,915	16,073	13,869	7,627
Net Foreign Currency Loss (Gain) Due to Revaluation				(306)	9,142	4,079	1,232
Net realized loss on settlement of foreign currency forward contracts				0	0	26,176	0
Stock-based compensation				15,763	57,311	84,850	16,131
Deferred income taxes				(79,021)	(167,342)	(192,926)	(84,713)
Provision for uncollectible receivables				794	6,238	7,827	853
Other Noncash Income (Expense)				228	837	(228)	289
Net payments for settlement of foreign currency forward contracts				0	0	26,176	0
Payments for Repurchase of Common Stock				0	300,000	100,000	0
Repayments of amounts borrowed under term loan				(6,000)		(276,000)	(6,000)
Payments of debt issuance costs				0	1,708	2,375	0
Payments for Software				0	12,500	0	0
Restricted Cash		0		0	11,498	0	0
Cash and cash equivalents		$ 449,725		$ 449,725	$ 236,970	$ 241,209	$ 449,725

Stock-Based Compensation - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	9 Months Ended	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2022	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022	May 16, 2022
Weighted Average Grant Date Fair Value
Issuance of shares of common stock		$ 5,702	$ 25,807	$ 36,736	$ 5,702
Payments related to tax withholding		$ 1,676	$ 20,380	$ 20,836	$ 1,676
Common stock reserved for future issuance or settlement (in shares)			3,828,035
Share Price			$ 198.63
Equity Incentive Plan 2022
Weighted Average Grant Date Fair Value
Maximum number of shares authorized (in shares)						4,564,508
2022 Employee Stock Purchase Plan
Weighted Average Grant Date Fair Value
Maximum number of shares authorized (in shares)			128,947			184,010
Share-Based Compensation Arrangement by Share-Based Payment Award, Percent, Purchase Price of Common Stock,			85.00%
Stock Options
Stock options activity
Outstanding, beginning of period (in shares)	1,326,860		1,005,826
Granted (in shares)			1,471
Exercised (in shares)			(196,914)
Cancelled / Forfeited (in shares)			(50,295)
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding			$ 43,132
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term			5 years 7 months 9 days	6 years 5 months 8 days
Outstanding, end of period (in shares)			760,088	1,005,826
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term			5 years 1 month 13 days
Vested and exercisable, end of period (in shares)			588,726
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term			5 years 7 months 6 days
Vested and expected to vest, end of period (in shares)			751,607
Weighted Average Exercise Price
Outstanding, beginning of period (in dollars per share)			$ 144.17
Granted (in dollars per share)			171.56	$ 205.46
Exercised (in dollars per share)			135.24
Cancelled / Forfeited (in dollars per share)			187.71
Outstanding, end of period (in dollars per share)			160.82	$ 144.17
Vested and exercisable, end of period (in dollars per share)			131.89
Vested and expected to vest, end of period (in dollars per share)			$ 143.13
Aggregate Intrinsic Value
Outstanding, beginning of period			$ 32,935
Outstanding, end of period				$ 32,935
Vested and exercisable, end of period			39,908
Vested and expected to vest, end of period			43,000
Restricted stock units activity
Total unrecognized compensation cost			$ 12,500
Weighted Average Grant Date Fair Value
Expected life (in years)			3 years 10 months 24 days	4 years 9 months 18 days
Contractual terms			4 years
Weighted average fair value (in dollars per share)		$ 71.90	$ 66.47	$ 79.02
Risk-free interest rate (as a percent)			4.30%	3.40%
Expected dividend yield (as a percent)			0.00%	0.00%
Expected volatility factor (as a percent)			42.90%	38.20%
Total intrinsic value of options exercised		$ 18,700	$ 13,100	$ 42,800
Issuance of shares of common stock			22,400	45,000
Payments related to tax withholding			$ 19,800	$ 18,000
Share Based Payment Arrangement, Cost Not yet Recognized, Nonvested Award, Period for Recognition			1 year 4 months 28 days
Stock Options \| Minimum [Member]
Weighted Average Grant Date Fair Value
Contractual terms			7 years
Stock Options \| Maximum
Weighted Average Grant Date Fair Value
Contractual terms			10 years
Restricted Stock Units
Stock options activity
Outstanding, beginning of period (in shares)	504,386
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding			$ 55,613
Restricted stock units activity
Outstanding, beginning of period (in shares)			456,368
Granted (in shares)			194,811
Settled (RSUs) (in dollars per share)			$ 191.63
Settled (in shares)			(316,277)
Cancelled / Forfeited (in dollars per share)			$ 196.68
Cancelled / Forfeited (in shares)			(46,015)
Outstanding, end of period (in shares)			288,887	456,368
Weighted average remaining recognition period of outstanding restricted units (in years)			1 year 10 months 20 days
Total unrecognized compensation cost			$ 48,769
Weighted Average Grant Date Fair Value
Granted (in dollars per share)		$ 193.70	$ 194.02	$ 201.59
Contractual terms			3 years
Total fair value of shares vested from RSU grants		$ 46,600	$ 61,200	$ 50,500
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value			$ 193.98	$ 192.55
Performance Shares [Member]
Stock options activity
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding			$ 8,201
Restricted stock units activity
Outstanding, beginning of period (in shares)			0
Granted (in shares)			94,174
Settled (RSUs) (in dollars per share)			$ 0
Settled (in shares)			0
Cancelled / Forfeited (in dollars per share)			$ 194.00
Cancelled / Forfeited (in shares)			(11,518)
Outstanding, end of period (in shares)			82,656	0
Weighted average remaining recognition period of outstanding restricted units (in years)			2 years
Total unrecognized compensation cost			$ 5,046
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, Weighted Average Grant Date Fair Value			$ 194.03	$ 0

Net Income Per Share (Tables)

9 Months Ended

12 Months Ended

Jun. 30, 2022

Jun. 30, 2024

Earnings Per Share [Abstract]

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

The calculations of basic and diluted net (loss) income per share and basic and dilutive weighted average shares outstanding are as follows:


	Year Ended June 30, 2024		Year Ended June 30, 2023		Nine Months Ended June 30, 2022

	(Dollars and Shares in Thousands, Except per Share Data)
Net (loss) income	$	(9,771)	$	(107,760)	$	53,146

Basic weighted average shares outstanding	63,711		64,621		40,931
Dilutive impact from:
Employee equity awards	—		—		77
Diluted weighted average shares outstanding	63,711		64,621		41,008
Net (loss) income per share
Basic	$	(0.15)	$	(1.67)	$	1.30
Dilutive	$	(0.15)	$	(1.67)	$	1.30

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

For fiscal years 2024, 2023, and 2022, certain employee equity awards were anti-dilutive based on the treasury stock method. The following employee equity awards were excluded from the calculation of dilutive weighted average shares outstanding because their effect would be anti-dilutive:

Year Ended
June 30, 2024

Year Ended
June 30, 2023

Nine Months Ended June 30, 2022

(Shares in Thousands)

Employee equity awards

1,084

1,312

Accrued Expenses and Other Liabilities - Other Non-Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Other non-current liabilities
Other non-current liabilities	$ 18,377	$ 19,240

CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands	9 Months Ended	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands	Jun. 30, 2022 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)
Cash flows from operating activities:
Net (loss) income	$ 53,146	$ (9,771)	$ (107,760)
Adjustments, Noncash Items, to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]
Depreciation and amortization	119,930	493,009	491,419
Reduction in the carrying amount of right-of-use assets	5,915	16,073	13,869
Net foreign currency losses (gains)	(306)	9,142	4,079
Net realized loss on settlement of foreign currency forward contracts	0	0	26,176
Stock-based compensation	15,763	57,311	84,850
Deferred income taxes	(79,021)	(167,342)	(192,926)
Provision for uncollectible receivables	794	6,238	7,827
Other non-cash operating activities	228	837	(228)
Changes in assets and liabilities:
Accounts receivable	11,204	4,918	(25,538)
Contract assets	(78,122)	(22,344)	(21,658)
Contract costs	(4,992)	(9,186)	(10,165)
Lease liabilities	(5,558)	(15,495)	(13,655)
Prepaid expenses, prepaid income taxes, and other assets	(8,776)	(40,309)	7,625
Accounts payable, accrued expenses, income taxes payable and other liabilities	(23,674)	46,476	18,315
Contract liabilities	22,431	(29,671)	16,979
Net cash provided by operating activities	28,962	339,886	299,209
Cash flows from investing activities:
Purchase of property, equipment and leasehold improvements	(2,263)	(4,432)	(6,577)
Proceeds from sale of property and equipment	91	0	0
Payments for business acquisitions, net of cash acquired	(5,571,931)	(8,273)	(72,498)
Net payments for settlement of foreign currency forward contracts	0	0	(26,176)
Payments for equity method investments	(24)	(318)	(700)
Payments for capitalized computer software development costs	(508)	(183)	(366)
Payments for Software	0	(12,500)	0
Purchase of other assets	(553)	0	(1,000)
Net cash used in investing activities	(5,575,188)	(25,706)	(107,317)
Cash flows from financing activities:
Issuance of shares of common stock	5,702	25,807	36,736
Repurchases of common stock	0	(300,000)	(100,000)
Payment of tax withholding obligations related to restricted stock	(1,676)	(20,380)	(20,836)
Deferred business acquisition payments	(1,200)	0	(1,363)
Repayments of amounts borrowed under term loan	(6,000)		(276,000)
Proceeds from Contributions from Parent	(5,971,995)	(2,008)	(19,933)
Payments of debt issuance costs	0	(1,708)	(2,375)
Net cash (used in) provided by financing activities	5,968,821	(294,273)	(383,771)
Effect of exchange rate changes on cash and cash equivalents and restricted cash	1,417	(12,648)	(16,637)
Increase (decrease) in cash and cash equivalents and restricted cash	424,012	7,259	(208,516)
Cash, cash equivalents and restricted cash, beginning of period	25,713	241,209	449,725
Cash, cash equivalents and restricted cash, end of period	449,725	248,468	241,209
Supplemental disclosure of cash flow information:
Income taxes paid, net	84,997	130,042	79,819
Interest paid	237	5,203	13,615
Supplemental disclosure of non-cash activities:
Change in purchases of property, equipment and leasehold improvements included in accounts payable and accrued expenses	(363)	(325)	(915)
Lease liabilities arising from obtaining right-of-use assets	280	42,050	1,345
Cash and cash equivalents	449,725	236,970	241,209
Restricted Cash	$ 0	$ 11,498	$ 0

Significant Accounting Policies - Concentration of Credit Risk (Details)	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Concentration of Credit Risk
Concentration risk, number of customers	no	no
Customer One \| Accounts and installments receivable \| Customers concentration risk
Concentration of Credit Risk
Percentage of total receivables	10.00%

Accrued Expenses and Other Liabilities

12 Months Ended

Jun. 30, 2024

Balance Sheet Related Disclosures [Abstract]

Accrued Expenses and Other Liabilities

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


	June 30,
	2024		2023

	(Dollars in Thousands)
Compensation-related	$	61,976	$	62,162
Accrued taxes	10,991		3,065
Professional fees	4,987		6,265
Acquisition related	1,804		8,984
Other	20,409		19,050
Total accrued expenses and other current liabilities	$	100,167	$	99,526

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2024	Jun. 30, 2023
Net (loss) income	$ 53,146	$ (9,771)	$ (107,760)
Other comprehensive (loss) income:
Foreign currency translation adjustments	289	(10,763)	7,548
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax	176	(297)	(146)
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax	807	1,066	(524)
Total other comprehensive (loss) income	1,096	(9,697)	7,024
Comprehensive (loss) income	$ 54,242	$ (19,468)	$ (100,736)

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: 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 20: http://www.xbrl.org/2003/role/disclosureRef
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Intangible Assets (Policies)

12 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

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


	Developed Technology		Trademarks		Customer Relationships and Backlog		Capitalized Software and Other		Total

June 30, 2024:	(Dollars in Thousands)
Gross carrying amount	$	1,903,599	$	464,400	$	3,082,541	$	24,026	$	5,474,566
Less: Accumulated amortization	(537,492)		(17,931)		(724,270)		(10,123)		(1,289,816)
Net carrying amount	$	1,366,107	$	446,469	$	2,358,271	$	13,903	$	4,184,750


	Developed Technology		Trademarks		Customer Relationships and Backlog		Capitalized Software and Other		Total

June 30, 2023:	(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

Total intangible asset amortization expense for fiscal 2024, 2023 and 2022 was $487.2 million, $485.9 million and $116.7 million, respectively.

Based on intangible asset balances as of June 30, 2024, expected future amortization expense is as follows:


Year Ended June 30,	Amortization Expense
	(Dollars in Thousands)
2025	$	474,504
2026	384,110
2027	383,826
2028	375,160
2029	362,344
Thereafter	1,774,806
Total	$	3,754,750

Leases (Notes)

12 Months Ended

Jun. 30, 2024

Leases [Abstract]

Leases

The Company has operating leases primarily for corporate offices, and other operating leases for data centers and certain equipment. The Company determines whether an arrangement is or contains a lease based on facts and circumstances present at the inception of the arrangement. The Company recognizes lease expense on a straight-line basis over the lease term. The Company’s leases have remaining lease terms of less than one year to approximately 14 years, some of which include options to extend the leases for up to five years, and some of which include the option to terminate the leases upon advanced notice of 60 days or more. If the Company is reasonably certain they will exercise an option to extend or terminate the lease, the time period covered by the extension or termination option is included in the lease term.

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

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 consolidated balance sheets as of the date of modification, which was reflected net of a $25.4 million leasehold improvement incentive to be reimbursed to the Company by the landlord under the Lease Amendment as of the date of modification. 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 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 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 fiscal 2024, 2023, and 2022 were as follows:


	Year Ended June 30, 2024		Year Ended June 30, 2023		Nine Months Ended June 30, 2022

	(Dollars in Thousands)
Operating lease expense	$	19,718	$	17,417	$	4,769
Variable lease expense	$	1,247	$	813	$	518
Short term lease expense	$	575	$	125	$	723

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


	June 30,
	2024		2023

	(Dollars in Thousands)
Operating lease right-of-use assets	$	96,034	$	67,642
Current operating lease liabilities	$	13,125	$	12,928
Non-current operating lease liabilities	$	84,875	$	55,442

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

The following table represents the future maturities of the Company’s operating lease liabilities as of June 30, 2024:


Year Ending June 30,	(Dollars in Thousands)
2025	$	13,330
2026	10,165
2027	14,111
2028	13,822
2029	13,049
Thereafter	90,752
Total lease payments	155,229
Less: imputed interest	(32,238)
Less: leasehold improvement incentives to be utilized	(24,991)
Total lease maturities	$	98,000

Property and Equipment

12 Months Ended

Jun. 30, 2024

Property, Plant and Equipment [Abstract]

Property and Equipment

Property, Equipment and Leasehold Improvements

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


	June 30,
	2024		2023

	(Dollars in Thousands)
Property, equipment and leasehold improvements, at cost:
Computer equipment, furniture & fixtures	$	28,778	$	26,918
Leasehold improvements	9,237		8,544
Construction in progress	2,603		1,658
Property, equipment and leasehold improvements, at cost	40,618		37,120
Accumulated depreciation	(23,229)		(18,450)
Property, equipment and leasehold improvements, net	$	17,389	$	18,670

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


Asset Classification			Estimated Useful Life
Computer equipment			three years
Furniture and fixtures			ten years
Leasehold improvements			Life of lease or asset, whichever is shorter

Depreciation expense was $6.1 million, $5.5 million and $3.2 million for fiscal 2024, 2023 and 2022, respectively.

Subsequent Events	12 Months Ended
Subsequent Events	Jun. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events In August 2024, the Company announced a reorganization of its corporate structure, resulting in the elimination of certain roles as it continues to seek additional opportunities to streamline expenses and increase efficiencies following the close of the Emerson Transaction. Additionally, due to the expansion of sanctions in June 2024 by the United States government on commercial activity in Russia, as discussed in Note 1, “Organization and Basis of Presentation,” the Company will be closing certain facilities, and terminating or relocating substantially all employees in Russia during fiscal 2025. As a result of these actions, the Company expects to record restructuring expenses during fiscal 2025 consisting primarily of severance expenditures, one-time benefits and other contract termination costs. The Company is still assessing the full impact of these restructuring activities and currently estimates that the total restructuring expenses for fiscal 2025 will be between $7.0 million and $9.0 million. On July 24, 2024, the Company’s Board of Directors approved a share repurchase authorization, pursuant to which the Company may repurchase up to $100.0 million in the aggregate of the Company’s outstanding shares of common stock, by means of open market transactions, block transactions, privately negotiated purchase transactions or any other purchase techniques, including 10b5-1 trading plans.

Stock Repurchases - Narrative (Details) - USD ($) $ in Thousands			12 Months Ended
	Aug. 07, 2023	May 05, 2023	Jun. 30, 2024	Jun. 30, 2023	Aug. 01, 2023
Common Stock
Accelerated Share Repurchases, Settlement (Payment) or Receipt		$ 100,000
Repurchase of common stock (in shares)		487,626
Repurchase of common stock, amount			$ 302,220	$ 100,000
Treasury Stock, Value			(406,580)	(84,150)
Treasury Stock, Value, Acquired, Cost Method			$ (302,220)	$ (100,000)
ASR Program
Common Stock
Accelerated Share Repurchases, Settlement (Payment) or Receipt		$ 100,000
Repurchase of common stock (in shares)	594,671
Repurchase of common stock, amount	$ 100,000
Treasury Stock, Value, Acquired, Cost Method	$ (100,000)
ASR Program \| Final Share Repurchase
Common Stock
Repurchase of common stock (in shares)	107,045
Aug1 Share Repurchase Authorization Program
Common Stock
Repurchase of common stock (in shares)			1,520,993
Repurchase of common stock, amount			$ 300,000
Treasury Stock, Value, Acquired, Cost Method			$ (300,000)
Approved stock repurchase program, authorized amount					$ 300,000

Related Party Disclosures

9 Months Ended

Jun. 30, 2022

Related Party Transactions Disclosure

Related-Party Transactions

On October 10, 2021, Emerson entered into the Transaction Agreement with AspenTech Corporation (f/k/a Aspen Technology, Inc.) to contribute the Emerson Industrial Software Business, along with $6.014 billion in cash, to create AspenTech. The Industrial Software Business included the DGM business and the SSE business. The Transaction closed on May 16, 2022. Emerson owned approximately 56% of AspenTech on a fully diluted basis as of June 30, 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 which are reflected as receivables from related parties in the 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 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 consolidated and combined 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 consolidated and combined 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 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 consolidated balance sheets as of June 30, 2024 and 2023 include the following:


	June 30,
	2024		2023

	(Dollars in Thousands)
Interest bearing receivables from related parties	$	78,278	$	61,948
Trade receivables from related parties	205		427
Receivables from related parties	$	78,483	$	62,375

Interest bearing payables to related parties	$	47,315	$	21,866
Trade payables to related parties	134		153
Due to related parties	$	47,449	$	22,019

Allocations and charges from Emerson are as follows:


	Year Ended June 30, 2024		Year Ended June 30, 2023		Nine Months Ended June 30, 2022

	(Dollars in Thousands)
Corporate costs	$	—	$	—	$	3,212
Information technology	$	1,537	$	2,949	$	1,684
Insurance and other benefits	$	—	$	—	$	446
Shared services and other	$	1,018	$	5,571	$	10,294

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 consolidated and combined financial statements. Revenue from Emerson are as follows:


	Year Ended June 30, 2024		Year Ended June 30, 2023		Nine Months Ended June 30, 2022

	(Dollars in Thousands)
Revenue from Emerson affiliates	$	1,039	$	30	$	—
Purchases from Emerson affiliates	$	511	$	445	$	2,337

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 June 30, 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 consolidated and combined 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. 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.

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 currently integrating 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
-SubTopic 20
-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
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-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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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
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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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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

+ Details

Related Party Disclosures (Details) - USD ($) $ in Thousands		9 Months Ended	12 Months Ended
	Oct. 10, 2021	Jun. 30, 2022	Jun. 30, 2024	Jun. 30, 2023	Jul. 28, 2023	Dec. 23, 2022	May 16, 2022
Related Party Transaction [Line Items]
Maximum leverage ratio			4.00
Minimum interest coverage ratio			2.50
Payment for Plantweb Optics Analytics					$ 12,500
Business Acquisition, Percentage of Voting Interests Acquired							45.00%
Related Party
Related Party Transaction [Line Items]
Interest bearing receivables from related parties			$ 78,278	$ 61,948
Accounts Receivable, after Allowance for Credit Loss			205	427
Receivables from related parties			78,483	62,375
Interest bearing payables to related parties			47,315	21,866
Trade payables to related parties			134	153
Due to related parties			47,449	22,019
Emerson Electric Co.
Related Party Transactions [Abstract]
Revenue from Emerson affiliates		$ 0	1,039	30
Purchases from Emerson affiliates		2,337	511	445
Related Party Transaction [Line Items]
Revenue from Emerson affiliates		0	1,039	30
Debt Instrument, Face Amount						$ 630,000
Heritage AspenTech
Related Party Transaction [Line Items]
Business Combination, Consideration Transferred	$ 6,014,000
Corporate costs
Related Party Transaction [Line Items]
Payments of Distributions to Affiliates		3,212
Information technology
Related Party Transaction [Line Items]
Payments of Distributions to Affiliates		1,684	1,537	2,949
Insurance and other benefits
Related Party Transaction [Line Items]
Payments of Distributions to Affiliates		446
Shared services and other
Related Party Transaction [Line Items]
Payments of Distributions to Affiliates		$ 10,294	1,018	5,571
Related Party
Related Party Transaction [Line Items]
Receivables from related parties			78,483	62,375
Due to related parties			$ 47,449	$ 22,019
Emerson Electric Co. \| Heritage AspenTech
Related Party Transaction [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired			56.00%

Significant Accounting Policies - Computer Software Development Costs (Details)	Jun. 30, 2024
Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	3 years
Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life	10 years

Fair Value (Tables)

12 Months Ended

Jun. 30, 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 consolidated balance sheets as of June 30, 2024 and 2023, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value:


	Fair Value Measurements at Reporting Date Using,
	Quoted Prices in Active Markets for Identical Assets (Level 1 Inputs)		Significant Other Observable Inputs (Level 2 Inputs)

	(Dollars in Thousands)
June 30, 2024
Money market funds (cash equivalents)	$	129,710	$	—
Equity method investments	$	—	$	2,437
June 30, 2023
Money market funds (cash equivalents)	$	132,918	$	—
Equity method investments	$	—	$	2,673

Leases (Policies)

12 Months Ended

Jun. 30, 2024

Leases [Abstract]

Lessee, Leases [Policy Text Block]

Leases

Operating lease costs are recognized on a straight-line basis over the term of the lease. The components of total lease expense for fiscal 2024, 2023, and 2022 were as follows:


	Year Ended June 30, 2024		Year Ended June 30, 2023		Nine Months Ended June 30, 2022

	(Dollars in Thousands)
Operating lease expense	$	19,718	$	17,417	$	4,769
Variable lease expense	$	1,247	$	813	$	518
Short term lease expense	$	575	$	125	$	723

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


	June 30,
	2024		2023

	(Dollars in Thousands)
Operating lease right-of-use assets	$	96,034	$	67,642
Current operating lease liabilities	$	13,125	$	12,928
Non-current operating lease liabilities	$	84,875	$	55,442

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

The following table represents the future maturities of the Company’s operating lease liabilities as of June 30, 2024:


Year Ending June 30,	(Dollars in Thousands)
2025	$	13,330
2026	10,165
2027	14,111
2028	13,822
2029	13,049
Thereafter	90,752
Total lease payments	155,229
Less: imputed interest	(32,238)
Less: leasehold improvement incentives to be utilized	(24,991)
Total lease maturities	$	98,000

Operations - Narrative (Details) $ in Thousands	1 Months Ended	9 Months Ended	12 Months Ended
Operations - Narrative (Details) $ in Thousands	Jun. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2024 USD ($) countries	Jun. 30, 2023 USD ($)	May 16, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Assets			$ 14,071,707	$ 14,486,052
Total revenue	$ 173,800	$ 405,296	1,127,482	1,044,178
Business Acquisition, Percentage of Voting Interests Acquired					45.00%
Business Acquisition, Percentage of Voting Interests Acquired, Emerson					55.00%
Revenue Reversed Due to Contract Modification In Russia			5,500
Restricted Cash	$ 0	$ 0	11,498	$ 0
RestrictedCash			$ 11,500
Number Of Countries \| countries			117

- Definition

Amount of asset recognized for present right to economic benefit.

+ References

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+ Details

- 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

+ Details

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company accrues estimated liabilities for loss contingencies arising from claims, assessments, litigation and other sources when it is probable that a liability has been incurred and the amount of the claim assessment or damages can be reasonably estimated. The Company believes it has sufficient accruals to cover any obligations resulting from claims, assessments or litigation that have met these criteria. There were no known contingent liabilities (including guarantees, taxes and other claims) that management believes will be material in relation to the Company’s consolidated and combined financial statements, nor were there any material commitments outside the normal course of business.

Net Income Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	8 Months Ended	9 Months Ended	12 Months Ended
	Jun. 30, 2022	May 16, 2022	Jun. 30, 2022	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Treasury Stock, Value, Acquired, Cost Method				$ 302,220	$ 100,000
Net (loss) income	$ 66,369	$ (13,223)	$ 53,146	$ (9,771)	$ (107,760)	$ 41,944
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount			65,000	1,084	1,312,000
Basic			40,931,000	63,711,000	64,621,000	39,768,000
Dilutive impact from employee equity awards			77,000	0	0
Diluted			41,008,000	63,711,000	64,621,000	39,845,000
Basic			$ 1.30	$ (0.15)	$ (1.67)	$ 1.05
Diluted			$ 1.30	$ (0.15)	$ (1.67)	$ 1.05

- Definition

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

+ References

+ 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.

+ References

+ Details

- Definition

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

+ References

+ Details

Income Taxes (Tables)

9 Months Ended

12 Months Ended

Jun. 30, 2022

Jun. 30, 2024

Income Tax Disclosure [Abstract]

Income before provision for income taxes

(Loss) income before benefit for income taxes consists of the following:


	Year Ended June 30, 2024		Year Ended June 30, 2023		Nine Months Ended June 30, 2022

	(Dollars in Thousands)
Domestic	$	(76,466)	$	(201,620)	$	29,905
Foreign	32,631		21,054		10,056
(Loss) income before benefit for income taxes	$	(43,835)	$	(180,566)	$	39,961

Provision for income taxes

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


	Year Ended June 30, 2024		Year Ended June 30, 2023		Nine Months Ended June 30, 2022

	(Dollars in Thousands)
Federal—
Current	$	106,238	$	112,181	$	59,162
Deferred	(154,768)		(184,400)		(70,046)
State—
Current	8,010		6,333		4,385
Deferred	(6,677)		(7,301)		(10,431)
Foreign—
Current	15,409		9,293		3,465
Deferred	(2,276)		(8,912)		280
	$	(34,064)	$	(72,806)	$	(13,185)

Income tax reconciliation based on federal statutory rate

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


	Year Ended June 30, 2024		Year Ended June 30, 2023		Nine Months Ended June 30, 2022

	(Dollars in Thousands)
Taxes at United States statutory rate (21%)	$	(9,205)	$	(37,919)	$	8,392
State and local taxes, net of federal tax benefit	(272)		(1,762)		(7,003)
Foreign derived intangible income (FDII)	(35,283)		(36,436)		(17,150)
Global Intangible Low-Taxed Income (GILTI)	742		3,027		446
Foreign taxes and rate differences	2,588		(2,943)		2,669
Uncertain tax positions	1,159		405		(2,556)
Stock-based compensation	4,328		4,828		152
Return to Provision	5,067		4,070		498
Tax credits	(2,887)		(396)		(3,385)
Change in valuation allowance	(301)		(5,680)		5,287
Other	—		—		(535)
Benefit for income taxes	$	(34,064)	$	(72,806)	$	(13,185)

The Company’s tax benefit for the fiscal 2024 was favorably impacted primarily by the Foreign-Derived Intangible Income (“FDII”) deduction, offset by return to provision adjustments and stock-based compensation. Assuming certain requirements are met, the FDII deduction is a benefit for United States companies that sell their products or services to customers for use outside the United States

Deferred tax assets and liabilities

Net deferred tax liabilities consist of the following as of June 30, 2024 and 2023:


	June 30,
	2024		2023

	(Dollars in Thousands)
Deferred tax assets:
Federal, state and foreign credits	$	8,370	$	7,171
Net operating loss carryforwards	12,235		10,720
Deferred revenue	15,507		15,962
Other reserves and accruals	21,575		22,346
Intangible assets	20,277		19,369
Capitalized research and development	68,150		46,693
Property, leasehold improvements and other basis differences	10,820		4,186
Other temporary differences	1,531		2,660
Total gross deferred tax assets	158,465		129,107
Valuation allowance	(16,284)		(15,995)
Total net deferred tax assets	142,181		113,112

Deferred tax liabilities:
Intangible assets	(903,988)		(1,005,672)
Contract assets and costs	—		(41,643)
Deferred revenue	(5,822)		(3,315)
Property, leasehold improvements, and other basis differences	(11,883)		(5,820)
Other temporary differences	(4,186)		(3,935)
Total gross deferred tax liabilities	(925,879)		(1,060,385)

Net deferred tax (liabilities)	$	(783,698)	$	(947,273)

Reflected in the deferred tax assets above as of June 30, 2024, the Company has foreign net operating loss carryforwards of $48.4 million, with some of them having unlimited carryforwards, federal and state research & development (R&D) credits of $7.9 million and foreign R&D credits of $0.5 million which begin to expire in 2028.

The Company’s valuation allowance for deferred tax assets was $16.3 million and $16.0 million as of June 30, 2024 and 2023, respectively. The significant items of the valuation allowance as of June 30, 2024 are attributable to a reserve against state R&D credits of $7.6 million, foreign net operating losses of $6.4 million and foreign deferred tax assets of $1.6 million.

For fiscal 2024, the Company’s income tax provision included amounts determined under the provisions of ASC 740 intended to satisfy additional income tax assessments, including interest and penalties, that could result from any tax return positions for which the likelihood of sustaining the position on audit does not meet a threshold of “more likely than not.” Tax liabilities were recorded as a component of their income taxes payable and other non-current liabilities. The ultimate amount of taxes due will not be known until examinations are completed and settled or the audit periods are closed by statutes.

Reconciliation of reserve for uncertain tax positions

A reconciliation of the reserve for uncertain tax positions, excluding interest and penalties, is as follows:


	Year Ended June 30,
	2024		2023

	(Dollars in Thousands)
Beginning balance	$	7,561	$	6,716
Additions for current year tax positions	1,492		1,011
Additions for prior year tax positions	688		1,657
Reductions for prior year tax positions	(827)		—

Reductions for expirations of statute of limitations	(1,584)		(1,823)
Uncertain tax positions, excluding interest and penalties, end of year	$	7,330	$	7,561

Label	Element	Value
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures	us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures	$ (5,632,000)
Stock Issued During Period, Value, Stock Options Exercised	us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised	5,621,000
Recapitilization as a result of Transactions and Merger	azpn_RecapitilizationAsAResultOfTransactionsAndMerger	5,357,121,000
APIC, Share-Based Payment Arrangement, Option, Increase for Cost Recognition	us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition	$ 14,664,000
Common Stock [Member]
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures	us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures	58,468
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period	us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised	61,292
Additional Paid-in Capital [Member]
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures	us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures	$ (5,632,000)
Stock Issued During Period, Value, Stock Options Exercised	us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised	5,621,000
Recapitilization as a result of Transactions and Merger	azpn_RecapitilizationAsAResultOfTransactionsAndMerger	13,092,917,000
Retained Earnings [Member]
Net Income (Loss) Attributable to Parent	us-gaap_NetIncomeLoss	(13,223,000)
Net Income (Loss) Attributable to Parent	us-gaap_NetIncomeLoss	$ 66,369,000

Stock-Based Compensation - Additional Disclosures (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022	May 17, 2022	May 16, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of shares of common stock	$ 5,702	$ 25,807	$ 36,736	$ 5,702
Payments related to tax withholding	1,676	$ 20,380	20,836	$ 1,676
Common stock reserved for future issuance or settlement (in shares)		3,828,035
Share-based Payment Arrangement, Expense	15,763	$ 57,311	84,850
Post-combination portion
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number					96,650
Pre-combination portion
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number						102,305
Emerson stock-based compensation plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	$ 1,100	$ 1,000	$ 1,800
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in dollars per share)	$ 193.70	$ 194.02	$ 201.59
Total fair value of shares vested from RSU grants	$ 46,600	$ 61,200	$ 50,500
Total unrecognized compensation cost		$ 48,769
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number						504,386
Contractual terms		3 years
Restricted Stock Units \| Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number					453,397
Restricted Stock Units \| Post-combination portion
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number					61,898
Restricted Stock Units \| Pre-combination portion
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number						22,422
Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost		$ 12,500
Granted (in dollars per share)		$ 171.56	$ 205.46
Total intrinsic value of options exercised	$ 18,700	$ 13,100	$ 42,800
Issuance of shares of common stock		22,400	45,000
Payments related to tax withholding		$ 19,800	$ 18,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number		760,088	1,005,826			1,326,860
Contractual terms		4 years
Share-based Payment Arrangement, Option [Member] \| Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number					1,165,494
Share-based Payment Arrangement, Option [Member] \| Post-combination portion
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number					34,752
Share-based Payment Arrangement, Option [Member] \| Pre-combination portion
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number						79,883

Interim Reporting

9 Months Ended

Jun. 30, 2022

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Data (Unaudited)

Transition Period Comparative Data

As discussed in Note 1, this Annual Report on Form 10-K includes financial information for the year ended June 30, 2024, the year ended June 30, 2023, and the nine months ended June 30, 2022. The Consolidated and Combined Statements of Operations and Cash Flows for the twelve-months ended June 30, 2024, 2023, and 2022, are summarized below. All data for the twelve-month period ended June 30, 2022, are derived from the Company’s unaudited consolidated and combined financial statements.


	Twelve-Month Period Ended June 30,
	2024		2023		2022

					(unaudited)
	(Dollars in Thousands, Except per Share Data)
Revenue	$	1,127,482	$	1,044,178	$	482,311
Cost of revenue	382,576		373,589		199,916
Gross profit	744,906		670,589		282,395
Operating expenses	834,446		853,654		260,123
(Loss) income from operations	(89,540)		(183,065)		22,272
Other (expense), net	(8,478)		(29,418)		(1,048)
Interest income, net	54,183		31,917		3,222
(Loss) income before provision for income taxes	(43,835)		(180,566)		24,446
(Benefit) for income taxes	(34,064)		(72,806)		(17,498)
Net (loss) income	$	(9,771)	$	(107,760)	$	41,944

Net (loss) income per common share:
Basic	$	(0.15)	$	(1.67)	$	1.05
Diluted	$	(0.15)	$	(1.67)	$	1.05
Weighted average shares outstanding:
Basic	63,711		64,621		39,768
Diluted	63,711		64,621		39,845


	Twelve-Month Period Ended June 30,
	2024		2023		2022

					(unaudited)
	(Dollars in Thousands)
Cash flows from operating activities:
Net (loss) income	$	(9,771)	$	(107,760)	$	41,944
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	493,009		491,419		150,350
Reduction in the carrying amount of right-of-use assets	16,073		13,869		7,627
Net foreign currency losses (gains)	9,142		4,079		1,232
Net realized loss on settlement of foreign currency forward contracts	—		26,176		—
Stock-based compensation	57,311		84,850		16,131
Deferred tax liability	(167,342)		(192,926)		(84,713)
Provision for bad debts	6,238		7,827		853
Other non-cash operating activities	837		(228)		289
Changes in assets and liabilities:
Accounts receivable	4,918		(25,538)		(4,486)
Contract assets	(22,344)		(21,658)		(82,898)
Contract costs	(9,186)		(10,165)		(4,992)
Lease liabilities	(15,495)		(13,655)		(5,979)
Prepaid expenses, prepaid income taxes, and other assets	(40,309)		7,625		(6,965)
Accounts payable, accrued expenses, income taxes payable and other liabilities	46,476		18,315		(25,908)
Contract liabilities	(29,671)		16,979		17,291
Net cash provided by operating activities	339,886		299,209		19,776
Cash flows from investing activities:
Purchase of property, equipment and leasehold improvements	(4,432)		(6,577)		(4,870)
Proceeds from sale of property and equipment	—		—		91
Payments for business acquisitions, net of cash acquired	(8,273)		(72,498)		(5,572,996)
Net payments for settlement of foreign currency forward contracts	—		(26,176)		—
Payments for equity method investments	(318)		(700)		(24)
Payments for capitalized computer software costs	(183)		(366)		(508)
Payments for asset acquisitions	(12,500)		—		—
Purchase of other assets	—		(1,000)		(838)
Net cash (used in) investing activities	(25,706)		(107,317)		(5,579,145)
Cash flows from financing activities:
Issuance of shares of common stock	25,807		36,736		5,702
Repurchases of common stock	(300,000)		(100,000)		—
Payment of tax withholding obligations related to restricted stock	(20,380)		(20,836)		(1,676)
Deferred business acquisition payments	—		(1,363)		(1,200)
Repayments of amounts borrowed under term loan	—		(276,000)		(6,000)
Net transfers (to) from Parent Company	2,008		(19,933)		5,987,190
Payments of debt issuance costs	(1,708)		(2,375)		—
Net cash (used in) provided by financing activities	(294,273)		(383,771)		5,984,016
Effect of exchange rate changes on cash and cash equivalents	(12,648)		(16,637)		1,419
(Decrease) increase in cash and cash equivalents	7,259		(208,516)		426,066
Cash and cash equivalents, beginning of year	241,209		449,725		23,659
Cash and cash equivalents, end of year	$	248,468	$	241,209	$	449,725

Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	$	236,970	$	241,209	$	449,725
Restricted cash in other non-current assets	11,498		—		—
Total cash, cash equivalents and restricted cash	$	248,468	$	241,209	$	449,725

Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2024	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible asset amortization expense	$ 116,700	$ 487,200	$ 485,900
Amortization expense - 2022		474,504
Amortization expense - 2023		384,110
Amortization expense - 2024		383,826
Amortization expense - 2025		375,160
Amortization expense - 2026		362,344
Amortization expense - Thereafter		1,774,806
Finite Lived Intangible Assets Future Amortization Expense		$ 3,754,750

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2024	Jun. 30, 2023
Tax Credit Carryforward
Deferred tax assets, valuation allowance		$ 16,284	$ 15,995
Unrecognized Tax Benefits	$ 6,716	7,330	7,561
Accrued interest		800
Accrued penalties related to uncertain tax positions		100
Benefit for interest and penalties		(100)
Foreign derived intangible income (FDII)	$ (17,150)	(35,283)	$ (36,436)
Decrease in Unrecognized Tax Benefits is Reasonably Possible		500
Deferred Tax Assets, Tax Credit Carryforwards, Research		7,600
Deferred Tax Assets, Operating Loss Carryforwards, Foreign		6,400
Unrecognized Tax Benefits, Increase Resulting from Settlements with Taxing Authorities		8,300
Foreign
Tax Credit Carryforward
Net operating loss carryforwards		48,400
Research and development tax credit carryforward \| Foreign
Tax Credit Carryforward
Tax credit carryforward		500
Research and development tax credit carryforward \| State and Local Jurisdiction [Member]
Tax Credit Carryforward
Tax credit carryforward		$ 7,900

Income Taxes - Provision For (Benefit From) Income Taxes (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Income Tax Reconciliation
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount	$ (8,392)	$ 9,205	$ 37,919
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount	7,003	272	1,762
Foreign derived intangible income (FDII)	(17,150)	(35,283)	(36,436)
Global Intangible Low-Taxed Income (GILTI)	446	742	3,027
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Amount	(2,669)	(2,588)	2,943
Unrecognized Tax Benefits, Period Increase (Decrease)	2,556	(1,159)	(405)
Effective Income Tax Rate Reconciliation, Tax Expense (Benefit), Share-Based Payment Arrangement, Amount	152	(4,328)	(4,828)
Effective Income Tax Rate Reconciliation, Other Reconciling Items, Amount	498	(5,067)	(4,070)
Tax credits	(3,385)	(2,887)	(396)
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount	(5,287)	301	5,680
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount	535	0	0
Benefit for income taxes	$ (13,185)	(34,064)	$ (72,806)	$ (17,498)
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Reserves		$ 1,600

Retirement Plans - Narrative (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2024	Jun. 30, 2023
Retirement Benefits [Abstract]
Employer matching contributions	$ 1.9	$ 6.1	$ 4.7
Liability, Defined Benefit Plan		8.2	8.7
Defined Benefit Plan, Accumulated Other Comprehensive Income (Loss), Gain (Loss), before Tax		1.5	0.1
Defined Benefit Plan, Plan Assets, Amount		5.1	4.8
Defined Benefit Plan, Benefit Obligation		13.3	13.6
Defined Contribution Plan, Cost	$ 2.0	$ 3.3	$ 2.7
Employer matching contributions (as a percent)		50.00%
Maximum employee's pretax contribution that can be matched (as a percent)		6.00%

- Definition

Amount of asset segregated and restricted to provide benefit under defined benefit plan. Asset includes, but is not limited to, stock, bond, other investment, earning from investment, and contribution by employer and employee.

+ References + Details

Significant Accounting Policies (Policies)	12 Months Ended
Significant Accounting Policies (Policies)	Jun. 30, 2024
Accounting Policies [Abstract]
Cash and Cash Equivalents	Cash and Cash Equivalents and Restricted Cash Cash and cash equivalents consist of highly liquid investments with original maturities of three months or less. Effective June 30, 2024, the Company now also now classifies cash balances that are both held in Russia and in excess of what it estimates will be required to wind down its operations in Russia in fiscal 2025 as restricted cash due to current restrictions impacting the Company’s ability to transfer funds from bank accounts located in Russia to other countries. Restricted cash is included within other non-current assets on the consolidated balance sheets. As of June 30, 2024, the restricted cash held in Russia was $11.5 million.

Retirement Plans	9 Months Ended
Retirement Plans	Jun. 30, 2022
Retirement Benefits [Abstract]
Retirement and Profit Sharing Plans	Retirement Plans Most of the Company’s employees participate in defined contribution plans, including 401(k), profit sharing, and other savings plans that provide retirement benefits. In the United States, the Company maintains a defined contribution retirement plan under Section 401(k) of the Internal Revenue Code (“IRC”) covering all eligible employees, as defined. Under the plan, a participant may elect to defer receipt of a stated percentage of his or her compensation, subject to limitation under the IRC, which would otherwise be payable to the participant for any plan year. The Company may make discretionary contributions to this plan, including making matching contributions of 50%, up to a maximum of 6% of an employee’s pretax contribution. The Company made matching contributions of approximately $6.1 million, $4.7 million and $1.9 million in fiscal 2024, 2023 and 2022, respectively. Additionally, the Company participates in certain government mandated defined contribution plans throughout the world for which the Company complies with all funding requirements. The total expenses related to employees participating in these plans were $3.3 million, $2.7 million, and $2.0 million for fiscal 2024, 2023 and 2022, respectively. Certain non-U.S. employees participate in Company-specific or statutorily required defined benefit plans. In general, the Company’s policy is to fund these plans based on legal requirements, required benefit payments, and other factors. Defined benefit plan expense, benefits paid, and benefit plan contributions made by the Company were not material for all periods presented. The non-U.S. defined benefit liability was $8.2 million and $8.7 million as of June 30, 2024 and 2023, respectively. The projected benefit obligation and fair value of plan assets were $13.3 million and $5.1 million as of June 30, 2024, and $13.6 million and $4.8 million as of June 30, 2023. The deferred actuarial gain in accumulated other comprehensive (loss) income was $1.5 million and $0.1 million as of June 30, 2024 and 2023, respectively.

Net Income Per Share (Notes)

9 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

Net Income Per Share

Net (Loss) Income Per Share

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

Prior to the Transaction, the Industrial Software Business did not have any shares of common stock outstanding. Accordingly, net loss per share for fiscal 2022 has been calculated using weighted average shares outstanding (basic and diluted) assuming the number of shares of common stock issued to Emerson on the closing date of the Transaction were issued on October 1, 2020.

The calculations of basic and diluted net (loss) income per share and basic and dilutive weighted average shares outstanding are as follows:


	Year Ended June 30, 2024		Year Ended June 30, 2023		Nine Months Ended June 30, 2022

	(Dollars and Shares in Thousands, Except per Share Data)
Net (loss) income	$	(9,771)	$	(107,760)	$	53,146

Basic weighted average shares outstanding	63,711		64,621		40,931
Dilutive impact from:
Employee equity awards	—		—		77
Diluted weighted average shares outstanding	63,711		64,621		41,008
Net (loss) income per share
Basic	$	(0.15)	$	(1.67)	$	1.30
Dilutive	$	(0.15)	$	(1.67)	$	1.30

Year Ended
June 30, 2024

Year Ended
June 30, 2023

Nine Months Ended June 30, 2022

(Shares in Thousands)

Employee equity awards

1,084

1,312

Derivative Instruments and Hedging Activities (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Net realized loss on settlement of foreign currency forward contracts	$ 0	$ 0	$ 26,176	$ 0

Subsequent Events (Details) - USD ($) $ in Thousands, shares in Millions			9 Months Ended	12 Months Ended
	Aug. 06, 2024	Jul. 24, 2024	Jun. 30, 2022	Jun. 30, 2024	Jun. 30, 2023	Jul. 28, 2023
Subsequent Event [Line Items]
Payment for Plantweb Optics Analytics						$ 12,500
Restructuring costs			$ 117	$ 0	$ 0
Subsequent Event [Member]
Subsequent Event [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Shares to be Repurchased Next Year		100.0
Subsequent Event [Member] \| Minimum [Member]
Subsequent Event [Line Items]
Restructuring costs	$ 7,000
Subsequent Event [Member] \| Maximum
Subsequent Event [Line Items]
Restructuring costs	$ 9,000

Income Taxes - Income (Loss) before Provision For (Benefit From) Income Taxes (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Income (loss) before provision for income taxes
Income (Loss) from Continuing Operations before Income Taxes, Domestic	$ 29,905	$ (76,466)	$ (201,620)
Income (Loss) from Continuing Operations before Income Taxes, Foreign	10,056	32,631	21,054
(Loss) income before benefit for income taxes	39,961	(43,835)	(180,566)
Federal
Current Federal Tax Expense (Benefit)	59,162	106,238	112,181
Deferred Federal Income Tax Expense (Benefit)	(70,046)	(154,768)	(184,400)
State
Current State and Local Tax Expense (Benefit)	4,385	8,010	6,333
Deferred State and Local Income Tax Expense (Benefit)	(10,431)	(6,677)	(7,301)
Foreign
Current Foreign Tax Expense (Benefit)	3,465	15,409	9,293
Deferred Foreign Income Tax Expense (Benefit)	280	(2,276)	(8,912)
Benefit for income taxes	$ (13,185)	(34,064)	$ (72,806)	$ (17,498)
Deferred Tax Assets, Tax Credit Carryforwards, Research		$ 7,600

Income Taxes

9 Months Ended

Jun. 30, 2022

Income Tax Disclosure [Abstract]

Income Taxes

(Loss) income before benefit for income taxes consists of the following:


	Year Ended June 30, 2024		Year Ended June 30, 2023		Nine Months Ended June 30, 2022

	(Dollars in Thousands)
Domestic	$	(76,466)	$	(201,620)	$	29,905
Foreign	32,631		21,054		10,056
(Loss) income before benefit for income taxes	$	(43,835)	$	(180,566)	$	39,961

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


	Year Ended June 30, 2024		Year Ended June 30, 2023		Nine Months Ended June 30, 2022

	(Dollars in Thousands)
Federal—
Current	$	106,238	$	112,181	$	59,162
Deferred	(154,768)		(184,400)		(70,046)
State—
Current	8,010		6,333		4,385
Deferred	(6,677)		(7,301)		(10,431)
Foreign—
Current	15,409		9,293		3,465
Deferred	(2,276)		(8,912)		280
	$	(34,064)	$	(72,806)	$	(13,185)

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


	Year Ended June 30, 2024		Year Ended June 30, 2023		Nine Months Ended June 30, 2022

	(Dollars in Thousands)
Taxes at United States statutory rate (21%)	$	(9,205)	$	(37,919)	$	8,392
State and local taxes, net of federal tax benefit	(272)		(1,762)		(7,003)
Foreign derived intangible income (FDII)	(35,283)		(36,436)		(17,150)
Global Intangible Low-Taxed Income (GILTI)	742		3,027		446
Foreign taxes and rate differences	2,588		(2,943)		2,669
Uncertain tax positions	1,159		405		(2,556)
Stock-based compensation	4,328		4,828		152
Return to Provision	5,067		4,070		498
Tax credits	(2,887)		(396)		(3,385)
Change in valuation allowance	(301)		(5,680)		5,287
Other	—		—		(535)
Benefit for income taxes	$	(34,064)	$	(72,806)	$	(13,185)

Net deferred tax liabilities consist of the following as of June 30, 2024 and 2023:


	June 30,
	2024		2023

	(Dollars in Thousands)
Deferred tax assets:
Federal, state and foreign credits	$	8,370	$	7,171
Net operating loss carryforwards	12,235		10,720
Deferred revenue	15,507		15,962
Other reserves and accruals	21,575		22,346
Intangible assets	20,277		19,369
Capitalized research and development	68,150		46,693
Property, leasehold improvements and other basis differences	10,820		4,186
Other temporary differences	1,531		2,660
Total gross deferred tax assets	158,465		129,107
Valuation allowance	(16,284)		(15,995)
Total net deferred tax assets	142,181		113,112

Deferred tax liabilities:
Intangible assets	(903,988)		(1,005,672)
Contract assets and costs	—		(41,643)
Deferred revenue	(5,822)		(3,315)
Property, leasehold improvements, and other basis differences	(11,883)		(5,820)
Other temporary differences	(4,186)		(3,935)
Total gross deferred tax liabilities	(925,879)		(1,060,385)

Net deferred tax (liabilities)	$	(783,698)	$	(947,273)

As of June 30, 2024, the amount of unrecognized tax benefits, excluding interest and penalties is $7.3 million. Upon being recognized, $7.3 million would reduce the effective tax rate. A reconciliation of the reserve for uncertain tax positions, excluding interest and penalties, is as follows:


	Year Ended June 30,
	2024		2023

	(Dollars in Thousands)
Beginning balance	$	7,561	$	6,716
Additions for current year tax positions	1,492		1,011
Additions for prior year tax positions	688		1,657
Reductions for prior year tax positions	(827)		—

Reductions for expirations of statute of limitations	(1,584)		(1,823)
Uncertain tax positions, excluding interest and penalties, end of year	$	7,330	$	7,561

The Company’s policy is to recognize interest and penalties related to income tax matters as provision for (benefit from) income taxes. As of June 30, 2024, the Company had approximately $0.8 million of accrued interest and $0.1 million of penalties related to uncertain tax positions. The total amount of uncertain tax positions, including interest and penalties, is $8.3 million. The Company recorded a loss for interest and penalties of approximately $(0.1) million during fiscal 2024 mainly due to expirations of statute of limitations. It is reasonably possible as of June 30, 2025 that the liability for unrecognized tax benefits for the uncertain tax position will decrease by approximately $0.5 million over the next twelve-month period.

The Company is subject to income tax in many jurisdictions outside the United States. The Company is no longer under examination by the taxing authority regarding any United States federal income tax returns for fiscal years prior to 2021. Its operations in certain jurisdictions remain subject to examination for tax years 2015 to 2023, some of which are currently under audit by local tax authorities. The resolutions of these audits are not expected to be material to its consolidated and combined financial statements.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: 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 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/740/tableOfContent

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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2024	Jun. 30, 2023
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, authorized	600,000,000	600,000,000
Common stock, issued	65,367,159	64,952,868
Common stock, outstanding	63,251,495	64,465,242
Treasury Stock, Common, Shares	2,115,664	487,626

Property and Equipment - Property, Equipment and Leasehold Improvements (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2024	Jun. 30, 2023
Property, Plant and Equipment [Line Items]
Property, equipment and leasehold improvements, at cost		$ 40,618	$ 37,120
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment		(23,229)	(18,450)
Property, equipment and leasehold improvements, net		17,389	18,670
Depreciation	$ 3,200	6,100	5,500
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, equipment and leasehold improvements, at cost		28,778	26,918
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, equipment and leasehold improvements, at cost		9,237	8,544
Construction in Progress
Property, Plant and Equipment [Line Items]
Property, equipment and leasehold improvements, at cost		$ 2,603	$ 1,658

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	9 Months Ended	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2024	Jun. 30, 2023
Revenue:
Total revenue	$ 405,296	$ 1,127,482	$ 1,044,178
Cost of revenue:
Total cost of revenue	156,396	382,576	373,589
Gross profit	248,900	744,906	670,589
Operating expenses:
Selling and marketing	108,463	490,767	482,656
Research and development	64,285	206,114	209,347
General and administrative	39,878	137,565	161,651
Restructuring costs	117	0	0
Total operating expenses	212,743	834,446	853,654
(Loss) income from operations	36,157	(89,540)	(183,065)
Other (expense) income, net	310	8,478	29,418
Interest income, net	3,494	54,183	31,917
(Loss) income before benefit for income taxes	39,961	(43,835)	(180,566)
Benefit for income taxes	(13,185)	(34,064)	(72,806)
Net (loss) income	$ 53,146	$ (9,771)	$ (107,760)
Net (loss) income per common share:
Basic	$ 1.30	$ (0.15)	$ (1.67)
Diluted	$ 1.30	$ (0.15)	$ (1.67)
Weighted average shares outstanding:
Basic	40,931	63,711	64,621
Diluted	41,008	63,711	64,621
Revenue from Contract with Customer, Excluding Assessed Tax	$ 405,296	$ 1,127,482	$ 1,044,178
License and solutions
Cost of revenue:
Total cost of revenue	125,258	270,291	279,564
Weighted average shares outstanding:
Revenue from Contract with Customer, Excluding Assessed Tax	278,589	701,574	669,185
Maintenance
Cost of revenue:
Total cost of revenue	15,030	40,195	36,650
Weighted average shares outstanding:
Revenue from Contract with Customer, Excluding Assessed Tax	103,786	345,451	316,911
Services and other
Cost of revenue:
Total cost of revenue	16,108	72,090	57,375
Weighted average shares outstanding:
Revenue from Contract with Customer, Excluding Assessed Tax	$ 22,921	$ 80,457	$ 58,082

Credit Agreement	12 Months Ended
Credit Agreement	Jun. 30, 2024
Debt Disclosure [Abstract]
Credit Agreement	Debt Amended and Restated Credit Agreement The Company had entered into an Amended and Restated Credit Agreement (the “Amended and Restated Credit Agreement”) with JPMorgan Chase Bank, N.A. (“JP Morgan”) on December 23, 2019 that provided for a $200.0 million secured revolving credit facility and a $320.0 million secured term loan facility. On June 27, 2024, the Company terminated the Amended and Restated Credit Agreement and entered into a new Second Amended and Restated Credit Agreement (the “Second Amended and Restated Credit Agreement”) with an expiration date of June 27, 2029. At the time of termination, there were no amounts outstanding under the Amended and Restated Credit Agreement. The Second Amended and Restated Credit Agreement provides for aggregate borrowing commitments of $200.0 million under a new revolving credit facility, which includes a $40.0 million sub-facility for letters of credit. The loans made under the Second Amended and Restated Credit Agreement will bear interest at a rate per annum equal to the applicable benchmark rate plus a margin that varies according to a leverage-based grid. The interest rate margin for term benchmark, daily simple SOFR, and SONIA loans ranges from 1.25% to 2.00% per annum, and such margin for ABR and CBR loans ranges from 0.25% to 1.00% per annum. The Company must also pay a commitment fee quarterly in arrears on the undrawn portion of the credit facility, which commitment fee ranges from 0.15% to 0.30% per annum based on the Company’s leverage ratio. The Second Amended and Restated Credit Agreement is secured by substantially all the Company’s assets. The Second Amended and Restated Credit Agreement contains customary representations and warranties and affirmative and negative covenants, in each case, subject to certain qualifications, exceptions and thresholds. The negative covenants include, among other things, limitations applicable to the Borrower and its subsidiaries on incurring debt, granting liens, entering into fundamental change transactions, making investments, disposing of assets, making restricted payments and entering into transactions with affiliates. The Second Amended and Restated Credit Agreement also contains two financial maintenance covenants, which require compliance with a maximum leverage ratio of 4.00 to 1.00 (with a step-up to 4.50 to 1.00 during certain specified periods following a material acquisition) and a minimum interest coverage ratio of 2.50 to 1.00, in each case, as of the last day of each fiscal quarter. As of June 30, 2024, the Company was in compliance with these covenants. As of June 30, 2024, after considering eligible outstanding letters of credit allowable per the Second Amended and Restated Credit Agreement in the aggregate amount of $4.9 million, the Company had $195.1 million available for borrowing under the Second Amended and Restated Credit Agreement.

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 1
-Subparagraph (a)(3)
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-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(2)
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Section 50
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section S99
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI https://asc.fasb.org/470/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

+ Details

Segment and Geographic Information - Domestic and International Sales as a Percentage of Total Revenue (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Geographic Information
Revenue from Contract with Customer, Excluding Assessed Tax	$ 405,296	$ 1,127,482	$ 1,044,178	$ 482,311
United States
Geographic Information
Revenue from Contract with Customer, Excluding Assessed Tax	173,500	483,600	387,800
Europe
Geographic Information
Revenue from Contract with Customer, Excluding Assessed Tax	$ 84,958	$ 272,357	$ 275,698

- Definition

+ References

+ Details

Fair Value (Notes)

12 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Fair Value Disclosures [Text Block]

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.”


	Fair Value Measurements at Reporting Date Using,
	Quoted Prices in Active Markets for Identical Assets (Level 1 Inputs)		Significant Other Observable Inputs (Level 2 Inputs)

	(Dollars in Thousands)
June 30, 2024
Money market funds (cash equivalents)	$	129,710	$	—
Equity method investments	$	—	$	2,437
June 30, 2023
Money market funds (cash equivalents)	$	132,918	$	—
Equity method investments	$	—	$	2,673

Financial instruments not measured or recorded at fair value in the accompanying consolidated and combined financial statements consist of accounts receivable, accounts payable and accrued liabilities. The estimated fair value of these financial instruments approximates its carrying value. The estimated fair value of the borrowings under the Second Amended and Restated Credit Agreement (described below in Note 12, “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

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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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
-Topic 820
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-Name Accounting Standards Codification
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-Paragraph 2E
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Audit Information	12 Months Ended
Audit Information	Jun. 30, 2024
Audit Information [Abstract]
Auditor Name	KPMG LLP
Auditor Location	Boston, Massachusetts
Auditor Firm ID	185

Property and Equipment - Estimate Useful Lives of Property and Equipment (Details)	Jun. 30, 2024
Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	3 years
Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life	10 years
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	10 years
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	3 years

Related Party Disclosures (Tables)

9 Months Ended

Jun. 30, 2022

Schedule of Accounts Payable and Accrued Liabilities

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


	June 30,
	2024		2023

	(Dollars in Thousands)
Interest bearing receivables from related parties	$	78,278	$	61,948
Trade receivables from related parties	205		427
Receivables from related parties	$	78,483	$	62,375

Interest bearing payables to related parties	$	47,315	$	21,866
Trade payables to related parties	134		153
Due to related parties	$	47,449	$	22,019

Investments in and Advances to Affiliates


	Year Ended June 30, 2024		Year Ended June 30, 2023		Nine Months Ended June 30, 2022

	(Dollars in Thousands)
Revenue from Emerson affiliates	$	1,039	$	30	$	—
Purchases from Emerson affiliates	$	511	$	445	$	2,337

Restructuring and Related Costs

Allocations and charges from Emerson are as follows:


	Year Ended June 30, 2024		Year Ended June 30, 2023		Nine Months Ended June 30, 2022

	(Dollars in Thousands)
Corporate costs	$	—	$	—	$	3,212
Information technology	$	1,537	$	2,949	$	1,684
Insurance and other benefits	$	—	$	—	$	446
Shared services and other	$	1,018	$	5,571	$	10,294

Significant Accounting Policies Significant Accounting Policies - Recently Issued Accounting Pronouncements (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets	$ 96,034	$ 67,642
Current operating lease liabilities	13,125	12,928
Non-current operating lease liabilities	$ 84,875	$ 55,442

- 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 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
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-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 89: http://www.xbrl.org/2003/role/disclosureRef
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Reference 90: http://www.xbrl.org/2003/role/disclosureRef
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Reference 91: http://www.xbrl.org/2003/role/disclosureRef
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Reference 92: http://www.xbrl.org/2003/role/disclosureRef
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Reference 93: http://www.xbrl.org/2003/role/disclosureRef
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Reference 96: http://www.xbrl.org/2003/role/disclosureRef
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Reference 97: http://www.xbrl.org/2003/role/disclosureRef
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Reference 100: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Stock-Based Compensation - Stock Based Compensation Expense and its Classification in the Consolidated Statement of Operations (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2024	Jun. 30, 2023
Recorded as expenses:
Total stock-based compensation	$ 15,763	$ 57,311	$ 84,850
Cost of services and other
Recorded as expenses:
Total stock-based compensation	282	2,445	1,995
Cost of license and solutions
Recorded as expenses:
Total stock-based compensation	1,351	2,116	3,565
Cost of maintenance
Recorded as expenses:
Total stock-based compensation	344	2,526	1,893
Selling and marketing
Recorded as expenses:
Total stock-based compensation	2,850	10,368	16,202
Research and development
Recorded as expenses:
Total stock-based compensation	3,507	14,189	21,790
General and administrative
Recorded as expenses:
Total stock-based compensation	$ 7,429	$ 25,667	$ 39,405

Accrued Expenses and Other Liabilities (Tables)

12 Months Ended

Jun. 30, 2024

Balance Sheet Related Disclosures [Abstract]

Accrued expenses and other current liabilities

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


	June 30,
	2024		2023

	(Dollars in Thousands)
Compensation-related	$	61,976	$	62,162
Accrued taxes	10,991		3,065
Professional fees	4,987		6,265
Acquisition related	1,804		8,984
Other	20,409		19,050
Total accrued expenses and other current liabilities	$	100,167	$	99,526

Intangible Assets

12 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

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


	Developed Technology		Trademarks		Customer Relationships and Backlog		Capitalized Software and Other		Total

June 30, 2024:	(Dollars in Thousands)
Gross carrying amount	$	1,903,599	$	464,400	$	3,082,541	$	24,026	$	5,474,566
Less: Accumulated amortization	(537,492)		(17,931)		(724,270)		(10,123)		(1,289,816)
Net carrying amount	$	1,366,107	$	446,469	$	2,358,271	$	13,903	$	4,184,750


	Developed Technology		Trademarks		Customer Relationships and Backlog		Capitalized Software and Other		Total

June 30, 2023:	(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

Total intangible asset amortization expense for fiscal 2024, 2023 and 2022 was $487.2 million, $485.9 million and $116.7 million, respectively.

Based on intangible asset balances as of June 30, 2024, expected future amortization expense is as follows:


Year Ended June 30,	Amortization Expense
	(Dollars in Thousands)
2025	$	474,504
2026	384,110
2027	383,826
2028	375,160
2029	362,344
Thereafter	1,774,806
Total	$	3,754,750

Operations	12 Months Ended
Operations	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Operations	1. Organization and Basis of Presentation Aspen Technology, Inc., together with its subsidiaries (“AspenTech” or “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. Through the Company’s unique combination of product capabilities and deep domain expertise and award-winning innovation, customers across diverse end markets in asset-intensive industries can improve their operational excellence while achieving sustainability goals. On October 10, 2021, Emerson Electric Co. (“Emerson” or “Parent Company”) 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 Digital Grid Management business (“DGM”) and the Geological Simulation Software business (“GSS”), which the Company has renamed as Subsurface Science & Engineering (“SSE”). The Transaction closed on May 16, 2022 (“Closing Date”). Emerson owns 56% of AspenTech on a fully diluted basis as of June 30, 2024. The Company had revenue from customers in 117 countries during fiscal 2024. Basis of Presentation The accompanying consolidated and combined financial statements include the accounts of Aspen Technology, Inc. and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The Company has prepared the accompanying consolidated and combined financial statements pursuant to the rules and regulations of the United States Securities and Exchange Commission (the “SEC”) and in accordance with generally accepted accounting principles in the United States (“GAAP”). The Transaction was accounted for as a business combination in accordance with GAAP, with the Industrial Software Business treated as the “acquirer” and Heritage AspenTech treated as the “acquired” company for financial reporting purposes. On the Closing Date, the Company changed its fiscal year end from September 30 to June 30. The consolidated and combined financial statements for the years ended June 30, 2024 (“fiscal 2024” or “fiscal year 2024”) and 2023 (“fiscal 2023” or “fiscal year 2023”) comprise the results of the Industrial Software Business and Heritage AspenTech. The consolidated and combined financial statements for the nine-months ended June 30, 2022 comprise the results of the Industrial Software Business and include the results of Heritage AspenTech from the Closing Date through June 30, 2022 (“fiscal 2022” or “fiscal year 2022”). This Annual Report on Form 10-K also includes an unaudited consolidated and combined statements of operations and cash flows for the comparable period of July 1, 2021 to June 30, 2022; see Note 22, “Transition Period Comparative Data” for further information. 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 consolidated and combined financial statements and accompanying notes. The actual results that the Company experiences may differ materially from its estimates. Certain reclassifications have been made to the amounts in prior periods in order to conform to the current period’s presentation. The Company has evaluated subsequent events through the date that the financial statements were issued. Russia Due to the conflict between Russia and Ukraine, the United States, the European Union, the United Kingdom and other governments, have developed coordinated sanctions and export-control packages. These packages include: comprehensive financial sanctions against major Russian banks (including SWIFT cut off); designations of individuals and entities involved in Russian military activities; additional designations of Russian individuals including but not limited to those with significant business interests and government connections; and enhanced export controls and trade sanctions targeting Russia’s imports of a wide range of goods and services as a whole, including tighter controls on exports and reexports of items previously subject to only a low level of control, stricter licensing policy with respect to issuing export licenses, or increased use of “end-use” controls to block or impose licensing requirements on exports. In June 2024, the United States government announced new expanded restrictions that will prohibit the sale, service, maintenance, and support (such as bug fixes and updates) of enterprise management software and design and manufacturing software in the Russian market. As a result, the Company recently has suspended all commercial activities in Russia. This includes the discontinuation of the following activities: all commercial discussions with customers, initiating or processing renewals, providing proposals to customers or selling products or services. In addition, the Company has written-off certain assets that are related to the operations in Russia. The impact of the additional sanctions was treated as a modification to existing contracts with customers in Russia in accordance with Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers. The aggregate impact of the contract modifications resulted in the reversal of $5.5 million of revenue in the fourth quarter of fiscal 2024. The remaining net accounts receivable balance associated with customers in Russia as of June 30, 2024 is not material. The Company also now classifies cash balances that are both held in Russia and in excess of what it estimates will be required to wind down our operations in Russia in fiscal 2025 as restricted cash due to current restrictions impacting the Company’s ability to transfer funds from bank accounts located in Russia to other countries. As of June 30, 2024, the restricted cash held in Russia was $11.5 million, which is included within other non-current assets on the consolidated balance sheets.

Stock-Based Compensation - Stock-Based Compensation Accounting (Details) - Stock Options - $ / shares	9 Months Ended	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2024	Jun. 30, 2023
Weighted average assumptions
Weighted average fair value (in dollars per share)	$ 71.90	$ 66.47	$ 79.02
Risk-free interest rate (as a percent)		4.30%	3.40%
Expected dividend yield (as a percent)		0.00%	0.00%
Expected life (in years)		3 years 10 months 24 days	4 years 9 months 18 days
Expected volatility factor (as a percent)		42.90%	38.20%

Stock Repurchases	12 Months Ended
Stock Repurchases	Jun. 30, 2024
Equity [Abstract]
Equity	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 the Board of Directors approved a share repurchase program (the “Share Repurchase Authorization”), pursuant to which an aggregate $300.0 million of its common stock was authorized to 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 were 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 reflected share repurchases in its consolidated and combined financial statements once the transaction settled. During fiscal 2024, the Company repurchased 1,520,993 shares for $300.0 million under the Share Repurchase Authorization.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147478448/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 13
-Subparagraph (g)
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

+ Details

Accounts Receivable (Tables)

12 Months Ended

Jun. 30, 2024

Receivables [Abstract]

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

accounts receivable, net of the related allowance for doubtful accounts, were as follows as of June 30, 2024 and 2023:


	June 30,
	2024		2023

	(Dollars in Thousands)
Accounts receivable, gross	$	119,949	$	129,887
Allowance for doubtful accounts	(4,416)		(7,098)
Account receivable, net	$	115,533	$	122,789

Stock-Based Compensation (Tables)

9 Months Ended

12 Months Ended

May 16, 2022

Jun. 30, 2022

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Weighted average assumptions


	Year Ended June 30,
	2024		2023
Risk-free interest rate	4.3	%	3.4	%
Expected dividend yield	None		None
Expected life (in years)	3.9		4.8
Expected volatility factor	42.9	%	38.2	%

Stock-based compensation expense

The stock-based compensation expense and its classification in the accompanying consolidated and combined statements of operations for fiscal 2024, 2023 and 2022 was as follows:


	Year Ended June 30, 2024		Year Ended June 30, 2023		Nine Months Ended June 30, 2022

	(Dollars in Thousands)
Cost of license and solutions	$	2,116	$	3,565	$	1,351
Cost of maintenance	2,526		1,893		344
Cost of service and other	2,445		1,995		282
Selling and marketing	10,368		16,202		2,850
Research and development	14,189		21,790		3,507
General and administrative	25,667		39,405		7,429
Total stock-based compensation	$	57,311	$	84,850	$	15,763

Stock options and RSU activity


	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	(196,914)	$	135.24
Cancelled / Forfeited	(50,295)	$	187.71
Outstanding as of June 30, 2024	760,088	$	160.82	5.61	$	43,132
Exercisable as of June 30, 2024	588,726	$	131.89	5.12	$	39,908
Vested and expected to vest as of June 30, 2024	751,607	$	143.13	5.60	$	43,000

____________

(1) The aggregate intrinsic value in this table represents any excess of the closing market price of the Company’s common stock as of June 30, 2024 (198.63) over the exercise price of the underlying stock options.

The weighted average estimated fair value of stock option awards granted during fiscal 2024, 2023, and 2022 was $66.47, $79.02, and $71.90, respectively. During fiscal 2024 and 2023, the weighted average exercise price of stock options granted was $171.56 and $205.46, respectively. The total intrinsic value of stock options exercised during fiscal 2024, 2023, and 2022 was $13.1 million, $42.8 million and $18.7 million, respectively. The Company received $22.4 million and $45.0 million in cash proceeds from exercises of stock options during fiscal 2024 and 2023, respectively. As of June 30, 2024, the total future unrecognized stock-based compensation expense related to outstanding stock options was $12.5 million and is expected to be recorded over a weighted average period of 1.41 years.

Restricted Stock Units and Performance Stock Units

RSUs and PSUs 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 RSUs and PSUs for fiscal 2024:


	Number of Shares Underlying PSUs		Weighted Average Grant-Date Fair Value PSUs		Number of Shares Underlying RSUs		Weighted Average Grant-Date Fair Value RSUs

	(Dollars in Thousands, Except Per Share Data)
Outstanding as of June 30, 2023	—		—		456,368		$	192.55
Granted	94,174		$	194.03	194,811		$	194.02
Settled	—		—		(316,277)		$	191.63
Cancelled / Forfeited	(11,518)		$	194.00	(46,015)		$	196.68
Outstanding as of June 30, 2024	82,656		$	194.03	288,887		$	193.98
Weighted average remaining recognition period of outstanding units (in years)	2.00				1.89
Unrecognized stock-based compensation expense of outstanding units	$	5,046			$	48,769
Aggregate intrinsic value of outstanding units	$	8,201			$	55,613

Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award

The fair value of the replacement awards that are attributable to pre- and post-combination services was as follows:


	Pre-combination portion		Post-combination portion

	(Dollars in Thousands)
Restricted stock units	$	22,422	$	61,898
Stock options	79,883		34,752
Total	$	102,305	$	96,650

Accrued Expenses and Other Liabilities - Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Accrued expenses and other current liabilities
Compensation-related	$ 61,976	$ 62,162
Deferred acquisition payments	10,991	3,065
Professional fees	4,987	6,265
Income taxes payable	1,804	8,984
Other Accrued Liabilities, Current	20,409	19,050
Accrued Liabilities, Current, Total	$ 100,167	$ 99,526

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock, Common
Accumulated deficit				$ 0
Comprehensive income (loss):
Additional paid-in capital			$ 0
Balance at Sep. 30, 2021	$ 1,771,346,000	$ 0		1,777,030,000	$ (5,684,000)	$ 0
Balance (in shares) at Sep. 30, 2021		0				0
Comprehensive income (loss):
Net (loss) income	53,146,000
Net transfer from (to) Emerson	5,971,995,000			5,971,995,000
Recapitilization as a result of Transactions and Merger, Shares		$ 64,305,618
Recapitilization as a result of Transactions and Merger		(6,000)		(7,735,802,000)
Other comprehensive loss	1,096,000				1,096,000
Stock-based compensation			14,664,000
Balance at Jun. 30, 2022	13,169,357,000	$ 6,000		0	(4,588,000)	$ 0
Balance (in shares) at Jun. 30, 2022		64,425,378				0
Accumulated deficit				66,369,000
Comprehensive income (loss):
Additional paid-in capital			13,107,570,000
Net (loss) income	(107,760,000)			(107,760,000)
Other comprehensive loss	7,024,000
Exercise of stock options	36,046,000		36,046,000
Exercise of stock options (in shares)		365,937
Issuance of restricted stock units and net share settlement related to withholding taxes	(18,588,000)		(18,588,000)
Issuance of restricted stock units and net share settlement related to withholding taxes (in shares)		161,553
APIC, Share-Based Payment Arrangement, Option, Increase for Cost Recognition	84,850,000
Repurchase of common stock	(100,000,000)		15,850,000			$ 84,150,000
Repurchase of common stock (in shares)						487,626
Stock-based compensation			84,850,000
Balance at Jun. 30, 2023	$ 13,070,929,000	$ 6,000		0	2,436,000	$ (84,150,000)
Balance (in shares) at Jun. 30, 2023	64,952,868	64,952,868				487,626
Accumulated deficit	$ (41,391,000)			(41,391,000)
Comprehensive income (loss):
Additional paid-in capital	13,194,028,000		13,194,028,000
Net (loss) income	(9,771,000)			(9,771,000)
Other comprehensive loss	(9,697,000)
Exercise of stock options	26,078,000	$ 1,000	26,077,000
Exercise of stock options (in shares)		199,924
Issuance of restricted stock units and net share settlement related to withholding taxes	(19,775,000)		(19,775,000)
Issuance of restricted stock units and net share settlement related to withholding taxes (in shares)		214,367
APIC, Share-Based Payment Arrangement, Option, Increase for Cost Recognition	57,311,000
Repurchase of common stock	(302,220,000)		(20,210,000)			$ 322,430,000
Repurchase of common stock (in shares)						1,628,038
Stock-based compensation			57,311,000
Balance at Jun. 30, 2024	$ 12,812,855,000	$ 7,000		0	$ (7,261,000)	$ (406,580,000)
Balance (in shares) at Jun. 30, 2024	65,367,159	65,367,159				2,115,664
Accumulated deficit	$ (51,162,000)			$ (51,162,000)
Comprehensive income (loss):
Additional paid-in capital	$ 13,277,851,000		$ 13,277,851,000

Pay vs Performance Disclosure - USD ($) $ in Thousands	1 Months Ended	8 Months Ended	9 Months Ended	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2022	May 16, 2022	Jun. 30, 2022	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net (loss) income	$ 66,369	$ (13,223)	$ 53,146	$ (9,771)	$ (107,760)	$ 41,944

- Definition

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

+ References

+ Details

Acquisitions (Details) - USD ($) $ in Thousands			1 Months Ended
Acquisitions (Details) - USD ($) $ in Thousands	May 16, 2022	Oct. 10, 2021	Jun. 30, 2022	Jun. 30, 2024	Jun. 30, 2023	Aug. 29, 2022
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Finite-Lived Intangible Assets, Net, Total Acquired	$ 4,391,000
Business Acquisition, Percentage of Voting Interests Acquired, Emerson	55.00%
Net Income (Loss), Acquisition Date Period			$ 71,800
Finite-Lived Intangible Assets, Accumulated Amortization				$ 1,289,816	$ 802,409
Business Acquisition [Line Items]
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable	$ 102,305
Goodwill	7,224,483		$ 8,266,809	$ 8,328,201	$ 8,330,811	$ 63,000
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable	102,305
Heritage AspenTech
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Business Combination, Consideration Transferred		$ 6,014,000
Business Acquisition [Line Items]
Goodwill	7,223,000
Common Stock
Business Acquisition [Line Items]
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable	11,085,971
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable	$ 11,085,971
Common Stock \| Heritage AspenTech
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares	66,662,482
Business Acquisition [Line Items]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares	66,662,482
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable	$ 5,240,000
Business Acquisition, Shares Received	27,998,104
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable	$ 5,240,000

Revenue from Contracts with Customers Contract Costs (Details)	Jun. 30, 2024
Minimum [Member]
Contract costs, amortization period	4 years
Maximum
Contract costs, amortization period	8 years

Stock-Based Compensation

12 Months Ended

Jun. 30, 2023

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

Emerson Performance Shares and Restricted Stock Units

Certain employees of the Industrial Software Business participate in Emerson stock-based compensation plans, and were granted performance share and restricted stock units (“RSUs”). Compensation expense is recognized based on Emerson’s cost of the awards under ASC 718, Compensation- Stock Compensation. All awards granted under these stock-based compensation plans are based on Emerson’s common stock and are not indicative of the results that the Industrial Software Business would have experienced as a separate and independent business for the periods presented. Stock-based compensation expense reflected in the Company’s financial statements relating to these awards was $1.0 million, $1.8 million, and $1.1 million for fiscal 2024, 2023 and 2022, respectively.

Heritage AspenTech Equity Incentive Awards

Pursuant to the terms of the Transaction Agreement, each outstanding stock option to purchase shares of Heritage AspenTech common stock, whether vested or unvested, that was unexercised as of immediately prior to the Closing Date was converted into a stock option to acquire shares of AspenTech. Each converted stock option is subject to the same terms and conditions as applied to the original stock option. In addition, each outstanding award of RSUs with respect to shares of Heritage AspenTech common stock that were unvested as of immediately prior to the Closing Date was converted into an award of RSUs with respect to shares of AspenTech. Each converted RSU is also subject to the same terms and conditions as applied to the original RSU.

Immediately prior to the Closing Date, Heritage AspenTech had 1,326,860 stock options to purchase common stock and 504,386 RSUs outstanding, which were converted to 1,165,494 AspenTech stock options and 453,397 AspenTech RSUs after the Closing Date.

ASC 805 requires the Company to determine the fair value of the AspenTech share-based payment awards related to the replacement of the Heritage AspenTech share-based payment awards, and allocate the total fair value based on the services that are attributable to the pre- and post-combination service periods, respectively. The portion that is attributable to the pre-combination service period was considered part of the consideration transferred for Heritage AspenTech and included as part of the purchase price. The portion that is attributable to the post-combination service period is being recognized as stock-based compensation expense in the post-combination consolidated financial statements over the remaining requisite service period.

The fair value of the replacement awards that are attributable to pre- and post-combination services was as follows:


	Pre-combination portion		Post-combination portion

	(Dollars in Thousands)
Restricted stock units	$	22,422	$	61,898
Stock options	79,883		34,752
Total	$	102,305	$	96,650

AspenTech Equity Incentive Awards

Omnibus Plan

On May 16, 2022, the stockholders of the Company approved the Aspen Technology, Inc. 2022 Omnibus Incentive Plan (the “Omnibus Plan”). The Omnibus Plan was previously approved by the Company’s board of directors, subject to stockholders’ approval. The Omnibus Plan permits the grant of restricted stock, restricted stock units, stock options (incentive stock options and nonqualified stock options), stock appreciation rights, performance awards, cash-based awards and other stock-based awards. A total of 4,564,508 shares of the Company’s common stock is available for grants under the Omnibus Plan, subject to adjustment under certain circumstances described in the Omnibus Plan.

Stock option awards have been granted with an exercise price equal to the market closing price of the Company’s stock on the trading day prior to the grant date. Those stock options generally vest over four years and expire within seven years or ten years of grant. RSUs generally vest over three years.

Beginning in fiscal 2024, the Company granted performance stock units (“PSUs”) with a performance condition and service condition. These PSUs 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) ACV growth and (ii) free cash flow margin over the performance period. Up to 175% of the PSUs could vest upon achievement of the performance goals. Conversely, if a minimum performance goal is not met, none of the PSUs 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 consolidated and combined financial statements.

Employee Stock Purchase Plan

On May 16, 2022, the stockholders of AspenTech approved the Aspen Technology, Inc. 2022 Employee Stock Purchase Plan (the “ESPP”). The ESPP was previously approved by AspenTech’s board of directors, subject to stockholders’ approval. A total of 184,010 shares of AspenTech common stock is available for grants under the ESPP, subject to adjustment under certain circumstances described in the ESPP.

The ESPP permits eligible employees to purchase a limited amount of common stock as defined in the ESPP through payroll deductions at a purchase price equal to 85% of the lower of (a) the fair market value of the common stock on the first trading day of each ESPP offering period and (b) the fair market value of the common stock on the last day of each six-month offering period.

As of June 30, 2024, there were 128,947 shares of common stock available for issuance under the ESPP.

Stock Compensation Accounting

The Company’s stock-based compensation is accounted for as awards of equity instruments. Its policy is to issue new shares upon the exercise of vested stock awards.

The fair values of RSUs and PSUs are based on the value of the Company’s common stock on the date of grant.

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

The Company utilized the Black-Scholes stock option valuation model with the following weighted average assumptions:


	Year Ended June 30,
	2024		2023
Risk-free interest rate	4.3	%	3.4	%
Expected dividend yield	None		None
Expected life (in years)	3.9		4.8
Expected volatility factor	42.9	%	38.2	%

The stock-based compensation expense and its classification in the accompanying consolidated and combined statements of operations for fiscal 2024, 2023 and 2022 was as follows:


	Year Ended June 30, 2024		Year Ended June 30, 2023		Nine Months Ended June 30, 2022

	(Dollars in Thousands)
Cost of license and solutions	$	2,116	$	3,565	$	1,351
Cost of maintenance	2,526		1,893		344
Cost of service and other	2,445		1,995		282
Selling and marketing	10,368		16,202		2,850
Research and development	14,189		21,790		3,507
General and administrative	25,667		39,405		7,429
Total stock-based compensation	$	57,311	$	84,850	$	15,763

Stock Options

The table below summarizes activities related to stock options for fiscal 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	(196,914)	$	135.24
Cancelled / Forfeited	(50,295)	$	187.71
Outstanding as of June 30, 2024	760,088	$	160.82	5.61	$	43,132
Exercisable as of June 30, 2024	588,726	$	131.89	5.12	$	39,908
Vested and expected to vest as of June 30, 2024	751,607	$	143.13	5.60	$	43,000

____________

Restricted Stock Units and Performance Stock Units


	Number of Shares Underlying PSUs		Weighted Average Grant-Date Fair Value PSUs		Number of Shares Underlying RSUs		Weighted Average Grant-Date Fair Value RSUs

	(Dollars in Thousands, Except Per Share Data)
Outstanding as of June 30, 2023	—		—		456,368		$	192.55
Granted	94,174		$	194.03	194,811		$	194.02
Settled	—		—		(316,277)		$	191.63
Cancelled / Forfeited	(11,518)		$	194.00	(46,015)		$	196.68
Outstanding as of June 30, 2024	82,656		$	194.03	288,887		$	193.98
Weighted average remaining recognition period of outstanding units (in years)	2.00				1.89
Unrecognized stock-based compensation expense of outstanding units	$	5,046			$	48,769
Aggregate intrinsic value of outstanding units	$	8,201			$	55,613

During fiscal 2024, 2023, and 2022 the weighted average grant-date fair value of RSUs granted was $194.02, $201.59 and $193.70, respectively. During fiscal 2024, 2023, and 2022 the total fair value of vested shares from RSU grants amounted to $61.2 million, $50.5 million and $46.6 million, respectively. During fiscal 2024, the weighted average grant-date fair value of PSUs granted was $194.03, and there were no PSUs granted during fiscal 2023 and 2022.

The Company paid $19.8 million and $18.0 million for withholding taxes on vested RSUs during fiscal 2024 and 2023, respectively.

As of June 30, 2024, common stock reserved for future issuance under equity compensation plans was 3,828,035 shares.

Revenue from Contracts with Customers Contract Balances (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Contract assets	$ 924,283	$ 903,643
Deferred revenue	(151,824)	(181,553)
Net contract assets	772,459	$ 722,090
Recognized Deferred Revenue	$ 123,300

Revenue from Contracts with Customers (Tables)

12 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

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

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


	June 30,
	2024		2023

	(Dollars in Thousands)
Contract assets	$	924,283	$	903,643
Contract liabilities	(151,824)		(181,553)
Net contract assets	$	772,459	$	722,090

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

Transaction Price Allocated to Remaining Performance Obligations


	Year Ended June 30,
	2025		2026		2027		2028		2029		Thereafter		Total

	(Dollars in Thousands)
License and solutions	$	189,332	$	54,100	$	19,444	$	9,620	$	2,428	$	1,897	$	276,821
Maintenance	315,015		217,528		160,071		104,419		57,933		23,337		878,303
Services and other	90,574		37,557		16,296		7,234		335		133		152,129
Total	$	594,921	$	309,185	$	195,811	$	121,273	$	60,696	$	25,367	$	1,307,253

Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	May 16, 2022
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$ 5,474,566	$ 5,462,066
Finite-Lived Intangible Assets, Accumulated Amortization	(1,289,816)	(802,409)
Finite-Lived Intangible Assets, Net	4,184,750	4,659,657	$ 3,961,000
Heritage AspenTech
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible	430,000
Patented Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	1,903,599	1,903,599
Finite-Lived Intangible Assets, Accumulated Amortization	(537,492)	(341,964)
Finite-Lived Intangible Assets, Net	1,366,107	1,561,635	1,350,000
Trademarks
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	464,400	464,400
Finite-Lived Intangible Assets, Accumulated Amortization	(17,931)	(13,821)
Finite-Lived Intangible Assets, Net	446,469	450,579	430,000
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	3,082,541	3,082,541
Finite-Lived Intangible Assets, Accumulated Amortization	(724,270)	(437,673)
Finite-Lived Intangible Assets, Net	2,358,271	2,644,868	2,301,000
Software and Software Development Costs [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	24,026	11,526
Finite-Lived Intangible Assets, Accumulated Amortization	(10,123)	(8,951)
Finite-Lived Intangible Assets, Net	$ 13,903	$ 2,575
Order or Production Backlog
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Net			$ 310,000

Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Fair Value, Inputs, Level 2 [Member]
Equity Method Investments, Fair Value Disclosure	$ 2,437	$ 2,673
Fair Value, Inputs, Level 1 [Member]
Cash and Cash Equivalents, Fair Value Disclosure	$ 129,710	$ 132,918

Goodwill (Policies)

12 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The changes in the carrying amount of goodwill during fiscal 2024 and 2023 were as follows:


	Carrying Value
	(Dollars in Thousands)
Balance, June 30, 2022	$	8,266,809
Acquisition of Inmation	63,026
Purchase accounting adjustment from Heritage AspenTech acquisition	1,684
Foreign currency translation	(708)
Balance, June 30, 2023	$	8,330,811
Foreign currency translation	(2,610)
Balance, June 30, 2024	$	8,328,201

Property and Equipment - Narrative (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2024	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Depreciation	$ 3.2	$ 6.1	$ 5.5

Stock-Based Compensation - Stock Compensation Plans and General Award Terms (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2024	Jun. 30, 2023
Stock-based compensation, additional disclosures
Common stock reserved for future issuance or settlement (in shares)		3,828,035
Share-based Payment Arrangement, Expense	$ 15,763	$ 57,311	$ 84,850
Emerson stock-based compensation plans
Stock-based compensation, additional disclosures
Share-based Payment Arrangement, Expense	$ 1,100	$ 1,000	$ 1,800
Stock Options
General award terms
Contractual terms		4 years
Stock Options \| Minimum [Member]
General award terms
Contractual terms		7 years
Stock Options \| Maximum
General award terms
Contractual terms		10 years
Restricted Stock Units
General award terms
Contractual terms		3 years

Significant Accounting Policies - Foreign Currency Translation (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Accounting Policies [Abstract]
Net Foreign Currency Loss (Gain) Due to Revaluation	$ (306)	$ 9,142	$ 4,079	$ 1,232
Net foreign currency losses (gains)	$ (300)	$ 9,100	$ 4,100

Revenue from Contracts with Customers (Policies)

12 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer [Policy Text Block]

Revenue from Contracts with Customers

Contract Assets and Contract Liabilities


	June 30,
	2024		2023

	(Dollars in Thousands)
Contract assets	$	924,283	$	903,643
Contract liabilities	(151,824)		(181,553)
Net contract assets	$	772,459	$	722,090

Contract Costs

Amortization of capitalized contract costs is included in selling and marketing expenses in the Company’s statement of operations.

Transaction Price Allocated to Remaining Performance Obligations


	Year Ended June 30,
	2025		2026		2027		2028		2029		Thereafter		Total

	(Dollars in Thousands)
License and solutions	$	189,332	$	54,100	$	19,444	$	9,620	$	2,428	$	1,897	$	276,821
Maintenance	315,015		217,528		160,071		104,419		57,933		23,337		878,303
Services and other	90,574		37,557		16,296		7,234		335		133		152,129
Total	$	594,921	$	309,185	$	195,811	$	121,273	$	60,696	$	25,367	$	1,307,253

Disaggregated Revenue Information

The table below reflects disaggregated revenues by business for fiscal 2024, 2023 and 2022:


	Year Ended June 30, 2024		Year Ended June 30, 2023		Nine Months Ended June 30, 2022

	(Dollars in Thousands)
Heritage AspenTech	$	785,734	$	760,802	$	173,810
SSE	122,565		120,092		88,272
DGM	219,183		163,284		143,214
Total	$	1,127,482	$	1,044,178	$	405,296

The Company did not have any customers that accounted for 10 percent or more of the Company’s revenues for fiscal 2024, 2023 and 2022, respectively.

- Definition

Disclosure of accounting policy for revenue from contract with customer.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-17

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 19
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-19

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-18

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-18

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 20
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-20

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
-Section 50
-Paragraph 20
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-20

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 20
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-20

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
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-Section 50
-Paragraph 20
-Subparagraph (d)
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Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (e)
-SubTopic 10
-Topic 235
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483426/235-10-50-4

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

Property and Equipment (Tables)

12 Months Ended

Jun. 30, 2024

Property, Plant and Equipment [Abstract]

Property, equipment and leasehold improvements

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


	June 30,
	2024		2023

	(Dollars in Thousands)
Property, equipment and leasehold improvements, at cost:
Computer equipment, furniture & fixtures	$	28,778	$	26,918
Leasehold improvements	9,237		8,544
Construction in progress	2,603		1,658
Property, equipment and leasehold improvements, at cost	40,618		37,120
Accumulated depreciation	(23,229)		(18,450)
Property, equipment and leasehold improvements, net	$	17,389	$	18,670

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


Asset Classification			Estimated Useful Life
Computer equipment			three years
Furniture and fixtures			ten years
Leasehold improvements			Life of lease or asset, whichever is shorter