AspenTech Q4 FY2023 EPS $0.42; ACV up 11.8%; terminates Micromine deal

Based on information as of today, August 1, 2023, AspenTech is issuing the following guidance for fiscal 2024. • ACV 1 growth of at least 11.5% year-over-year. • GAAP operating cash flow of at least $378 million • Free cash flow 3 of at least $360 million • Total bookings of at least $1.04 billion • Total revenue of at least $1.12 billion • GAAP total expense of approximately $1.22 billion • Non-GAAP total expense of approximately $675 million • GAAP operating loss at or better than $100 million • Non-GAAP operating income of at least $445 million • GAAP net loss at or better than $7 million • Non-GAAP net income of at least $424 million • GAAP net loss per share at or better than $0.11 • Non-GAAP net income per share of at least $6.51

AspenTech’s total revenue was $320.6 million for the fourth quarter of fiscal 2023 and included the following: • License and solutions revenue , which represents the portion of a term license agreement allocated to the initial license and Open Systems International, Inc. (OSI) revenue where software and professional services are recognized as one performance obligation, was $222.8 million, compared to $179.3 million in the fourth quarter of fiscal 2022. • Maintenance revenue , which represents the portion of customer agreements related to ongoing support and the right to future product enhancements, was $82.6 million, compared to $50.2 million in the fourth quarter of fiscal 2022. • Services and other revenue was $15.2 million, compared to $9.5 million in the fourth quarter of fiscal 2022. Income from operations was $6.0 million in the fourth quarter of fiscal 2023, compared to income from operations of $39.2 million in the fourth quarter of fiscal 2022. Net income was $27.3 million or

On July 26, 2023, the Company amended and restated its Code of Business Conduct and Ethics (the “Code”), which governs the conduct of all directors, officers and employees of the Company and its subsidiaries and other business entities controlled by it. The amendments include a new requirement for officers to advise our Chief Executive Officer and Chief Legal Officer and obtain approval from the Chief Executive Officer in advance of accepting an invitation to serve on the board of directors or a committee of the board of directors of another company.