AspenTech Q3 ACV $936M (+9.5% YoY); guides FY24 ACV growth ≥9%; names David Baker CFO

Aspen Technology, Inc.

2024-Q3 EPS reported -$0.85 revenue$784,577,000

ACV $936.1M (+9.5% YoY, +2.4% QoQ); total revenue $278.1M.
GAAP net income $1.6M ($0.02 EPS) vs loss $57.6M ($0.89) YoY; Non-GAAP net income $108.7M ($1.70 EPS) vs $69.1M ($1.06).
Updated FY24 guidance: ACV growth ≥9.0% YoY, total revenue ≥$1.10B, Non-GAAP EPS ≥$6.29.
David Baker (ex-Emerson) appointed SVP, CFO effective June 3, 2024; Christopher Stagno returns to CAO.
Share repurchases: $56.7M in Q3, $243.1M total used of $300M authorization, $56.9M remaining.

item 2.02 item 5.02 item 9.01

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Appointed

David Baker

Senior Vice President, Chief Financial Officer

Aspen Technology, Inc.

Effective: 2024-06-03
Filed: May 7, 2024, 7:59 PM ET

On May 7, 2024, the Company announced the appointment of David Baker to the position of Senior Vice President, Chief Financial Officer of the Company, effective June 3, 2024.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Aspen Technology, Inc. reported third quarter of fiscal 2024, ended March 31, 2024 results: revenue $278.1 million, net income $1.6 million, EPS $0.02 per diluted share.

Period: third quarter of fiscal 2024, ended March 31, 2024
Revenue: $278.1 million
Net income: $1.6 million
EPS: $0.02 per diluted share
Result: reported results

Exact text from the filing

AspenTech’s total revenue was $278.1 million in the third quarter of fiscal 2024 and included the following: • License and solutions revenue, which represents the portion of a term license agreement allocated to the initial license and Digital Grid Management (“DGM”) revenue where software, hardware and professional services are recognized as one performance obligation, was $169.5 million in the third quarter of fiscal 2024, compared to $136.3 million in the third quarter of fiscal 2023. • Maintenance revenue, which represents the portion of customer agreements related to ongoing support and the right to future product enhancements, was $86.3 million in the third quarter of fiscal 2024, compared to $77.3 million in the third quarter of fiscal 2023. • Services and other revenue, which represents the portion of customer agreements related to professional services and training services, was $22.4 million in the third quarter of fiscal 2024, compared to $16.3 million in the third quarter o

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Executive change SEC 8-K Item 5.02 confidence 0.95

David Baker was appointed as Senior Vice President, Chief Financial Officer at Aspen Technology, Inc..

Action: appointed
Role: Senior Vice President, Chief Financial Officer

Exact text from the filing

On May 7, 2024, the Company announced the appointment of David Baker to the position of Senior Vice President, Chief Financial Officer of the Company, effective June 3, 2024.

View on SEC.gov

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Source: SEC EDGAR

accession 0001897982-24-000030

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