Aspen Technology (AZPN) 10-Q 1 Nov 22 2023 Q1 Quarterly report Financial data

Cover Page

Cover Page	3 Months Ended
	Sep. 30, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	333-262106
Entity Registrant Name	ASPEN TECHNOLOGY, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	87-3100817
Entity Address, Address Line One	20 Crosby Drive
Entity Address, City or Town	Bedford
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01730
City Area Code	781
Local Phone Number	221-6400
Title of 12(b) Security	Common stock, $0.0001 par value per share
Trading Symbol	AZPN
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001897982
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Document Period End Date	Sep. 30, 2022

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Revenue:
Total revenue	$ 250,819	$ 77,015
Cost of revenue:
Total cost of revenue	91,130	43,520
Gross profit	159,689	33,495
Operating expenses:
Selling and marketing	118,274	25,000
Research and development	49,740	15,555
General and administrative	42,848	6,617
Restructuring costs	9	207
Total operating expenses	210,871	47,379
(Loss) from operations	(51,182)	(13,884)
Other (expense), net	(5,023)	(272)
Other Nonoperating Income (Expense)	(58,632)	(1,359)
(Loss) before provision for income taxes	(104,791)	(15,515)
(Benefit) for income taxes	(93,547)	(4,313)
Net (loss)	$ (11,244)	$ (11,202)
Earnings Per Share [Abstract]
Basic (in dollars per share)	$ (0.17)	$ (0.31)
Diluted (in dollars per share)	$ (0.17)	$ (0.31)
Weighted average shares outstanding:
Basic (in shares)	64,454	36,308
Diluted (in shares)	64,454	36,308
Cost of license and solutions
Revenue:
Total revenue	$ 160,224	$ 44,215
Cost of revenue:
Total cost of revenue	69,513	34,388
Maintenance [Member]
Revenue:
Total revenue	78,366	24,535
Cost of revenue:
Total cost of revenue	9,217	4,234
Services and other
Revenue:
Total revenue	12,229	8,265
Cost of revenue:
Total cost of revenue	$ 12,400	$ 4,898

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Net (loss)	$ (11,244)	$ (11,202)
Other comprehensive (loss) income:
Foreign currency translation adjustments	(8,865)	803
Total other comprehensive (loss) income	(8,865)	803
Comprehensive (loss)	$ (20,109)	$ (10,399)

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022
Current assets:
Cash and cash equivalents	$ 382,458	$ 449,725
Accounts receivable, net	97,340	111,027
Current contract assets, net	519,184	428,833
Prepaid expenses and other current assets	26,379	23,461
Receivables from related parties	14,573	16,941
Prepaid income taxes	55,057	17,503
Total current assets	1,094,991	1,047,490
Property, equipment and leasehold improvements, net	17,110	17,148
Goodwill	8,326,336	8,266,809
Intangible assets, net	5,021,909	5,112,781
Non-current contract assets, net	396,907	428,232
Contract costs	8,679	5,473
Operating lease right-of-use assets	74,201	78,286
Deferred tax assets	24,104	4,937
Other non-current assets	7,166	8,766
Total assets	14,971,403	14,969,922
Current liabilities:
Accounts payable	11,732	21,416
Accrued expenses and other current liabilities	90,439	90,123
Liability from foreign currency forward contract	50,259	0
Due to related parties	16,520	4,111
Current operating lease liabilities	7,237	7,191
Income taxes payable	0	6,768
Current borrowings	30,000	28,000
Current contract liabilities	131,346	143,327
Total current liabilities	337,533	300,936
Non-current contract liabilities	21,261	21,081
Deferred income tax liabilities	1,116,332	1,145,408
Non-current operating lease liabilities	67,662	71,933
Non-current borrowings, net	240,000	245,647
Other non-current liabilities	17,825	15,560
Commitments and contingencies
Stockholders' equity:
Common Stock, Value, Issued	6	6
Additional paid-in capital	13,129,112	13,107,570
Retained earnings	55,125	66,369
Accumulated other comprehensive (loss)	(13,453)	(4,588)
Total stockholders’ equity	13,170,790	13,169,357
Total liabilities and stockholders’ equity	$ 14,971,403	$ 14,969,922
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, authorized	600,000,000	600,000,000
Common stock, issued	64,531,300	64,425,378
Common stock, outstanding	64,531,300	64,425,378

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) Statement - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated other comprehensive (loss)					$ (6,487)
Total stockholders’ equity	$ 1,766,184			$ 1,772,671
Net (loss)	(11,202)			(11,202)
Total other comprehensive (loss) income	803				803
Net transfer from (to) Emerson	15,561			15,561
Accumulated other comprehensive (loss)					(5,684)
Total stockholders’ equity	$ 1,771,346			1,777,030
Common stock, issued	64,425,378	64,425,378
Additional paid-in capital	$ 13,107,570		$ 13,107,570
Retained earnings	66,369			66,369
Accumulated other comprehensive (loss)	(4,588)				(4,588)
Total stockholders’ equity	13,169,357	$ 6
Net (loss)	(11,244)			(11,244)
Total other comprehensive (loss) income	(8,865)				(8,865)
Issuance of shares of common stock (in shares)		71,547
Issuance of shares of common stock, amount	8,489	$ 0	8,489
Issuance of restricted stock units and net share settlement related to withholding taxes (in shares)		34,375
Issuance of restricted stock units and net share settlement related to withholding taxes, amount	(4,683)	$ 0	(4,683)
Stock-based compensation	$ 17,736		17,736
Common stock, issued	64,531,300	64,531,300
Additional paid-in capital	$ 13,129,112		$ 13,129,112
Retained earnings	55,125			$ 55,125
Accumulated other comprehensive (loss)	(13,453)				$ (13,453)
Total stockholders’ equity	$ 13,170,790	$ 6

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) $ in Thousands	3 Months Ended
	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)
Cash flows from operating activities:
Net (loss)	$ (11,244)	$ (11,202)
Adjustments to reconcile net (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	122,546	30,420
Reduction in the carrying amount of right-of-use assets	3,291	1,712
Net foreign currency losses	8,332	1,538
Stock-based compensation	17,736	368
Deferred income taxes	(70,438)	(5,692)
Provision for receivables	3,609	59
Other non-cash operating activities	3,225	61
Changes in assets and liabilities:
Accounts receivable	8,009	(15,690)
Contract assets	(68,357)	(4,776)
Contract costs	(3,451)	0
Lease liabilities	(1,659)	(421)
Prepaid expenses, prepaid income taxes, and other assets	(47,004)	1,811
Liability from foreign currency forward contract	50,259	0
Accounts payable, accrued expenses, income taxes payable and other liabilities	(13,476)	(2,234)
Contract liabilities	3,699	(5,140)
Net cash provided by (used in) operating activities	5,077	(9,186)
Cash flows from investing activities:
Purchases of property, equipment and leasehold improvements	(1,321)	(2,607)
Payments for business acquisitions, net of cash acquired	(74,947)	(1,065)
Payments for capitalized computer software development costs	(99)	0
Purchases of other assets	0	285
Net cash used in investing activities	(76,367)	(3,957)
Cash flows from financing activities:
Issuance of shares of common stock	8,470	0
Payment of tax withholding obligations related to restricted stock	(3,422)	0
Deferred business acquisition payments	(1,363)	0
Repayments of amounts borrowed under term loan	(6,000)	0
Net transfers from Parent Company	12,446	15,195
Payments of debt issuance costs	(2,375)	0
Net cash provided by financing activities	7,756	15,195
Effect of exchange rate changes on cash and cash equivalents	(3,733)	2
(Decrease) increase in cash and cash equivalents	(67,267)	2,054
Cash and cash equivalents, beginning of period	449,725	23,659
Cash and cash equivalents, end of period	382,458
Supplemental disclosure of non-cash activities:
Change in purchases of property, equipment and leasehold improvements included in accounts payable and accrued expenses	(702)	483
Lease liabilities arising from obtaining right-of-use assets	68	0
Supplemental disclosure of cash flow information:
Income taxes paid, net	6,950	3,632
Interest paid	3,815	355
Reconciliation to amounts within the unaudited consolidated balance sheets: [Abstract]
Cash, cash equivalents, and restricted cash, end of period	382,458	25,713
Payments for Purchase of Other Assets	$ 0	$ (285)

Interim Unaudited Consolidated

Interim Unaudited Consolidated Financial Statements - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2022	May 16, 2022
Contractors [Abstract]
Business Acquisition, Percentage of Voting Interests Acquired		55%
Revenue from Contract with Customer, Including Assessed Tax Russia	$ 10
Assets Russia	$ 24.5
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Interim Unaudited Consolidated Financial Statements	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 capital-intensive industries can improve their operational excellence while achieving sustainability goals. On October 10, 2021, Emerson Electric Co. (“Emerson”) entered into a definitive agreement (the “Transaction Agreement”) with Aspen Technology Corporation. (“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 Open Systems International, Inc. (“OSI Inc.”) and Geological Simulation Software (“GSS”), which we have renamed as Subsurface Science & Engineering (“SSE”). The Transaction closed on May 16, 2022 (“Closing Date”). Emerson owns 55% of AspenTech on a fully diluted basis as of September 30, 2022. On July 27, 2022, the Company entered into a definitive agreement to acquire Mining Software Holdings Pty Ltd ("Micromine") for AU $900 million in cash (approximately $623.0 million based on exchange rates when the acquisition was initially announced). Micromine is a global leader in design and operational management solutions for the metals and mining industry. The Company currently intends to finance the transaction through a combination of cash on hand and additional debt financing. The acquisition is expected to close in the fiscal second quarter of 2023, subject to receipt of regulatory approvals. The Company operates globally in 80 countries as of September 30, 2022. Basis of Presentation The accompanying consolidated and combined financial statements include the accounts of Aspen Technology, Inc. and our wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The Transaction was accounted for as a business combination in accordance with U.S. GAAP, with the Industrial Software Business treated as the “acquirer” and Heritage AspenTech treated as the “acquired” company for financial reporting purposes. Accordingly, for the three-month interim period ended September 30, 2021, the consolidated and combined financial statements comprise the results of the Industrial Software Business only and do not include the results of Heritage AspenTech. We have prepared the accompanying consolidated and combined financial statements as of September 30, 2022, and for the first quarter of fiscal 2023 and 2022, without audit, pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (SEC) and in accordance with generally accepted accounting principles in the United States (GAAP). These consolidated and combined financial statements should be read in conjunction with the consolidated and combined financial statements and the notes thereto included in our Transition Reports on Form 10-KT for the fiscal year ended June 30, 2022. 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 we experience may differ materially from our estimates. Certain reclassifications have been made to the amounts in prior periods in order to conform to the current period’s presentation. We have evaluated subsequent events through the date that the financial statements were issued. Russia and Ukraine While the Company has no operations in Ukraine, the ongoing conflict there could negatively impact its financial position, results of operations and cash flows. The United States and other governments have imposed sanctions and taken other regulatory actions that adversely affect doing business in Russia and with Russian companies. The Company maintains operations in Russia, licenses software and provides related services to customers in Russia and areas of Ukraine that are not under sanction. The Company had net sales of appro ximately $10.0 million for the three-month period ended September 30, 2022, and total assets of approximately $24.5 million as of September 30, 2022, related to operations in Russia. While the conflict has not had a material impact on the Company's financial results thus far, the Company continues to evaluate the impact of the various sancti ons, export control measures and business restrictions imposed by the United States and other governments on its ability to do business in Russia and areas of Ukraine that are not under sanction, maintain contracts with vendors and pay employees in Russia, as well as receive payment from customers in Russia and areas of Ukraine that are not under sanction. The outcome of these assessments will depend on how the conflict evolves and on further actions that may be taken by the United States, Russia, and other governments around the world. As a software company, no material impact to supply chain operations is expected due to the conflict in Ukraine. If the sanctions and other retaliatory measures and restrictions imposed by the global community change, the Company may be required to cease or suspend operations in the region or, should the conflict or the effects of these sanctions, measures and restrictions worsen, the Company may voluntarily elect to do so. Any disruption to, or suspension of, the Company’s business and operations in Russia would result in the loss of revenues from the business in Russia. In addition, as a result of the risk of collectability of receivables from customers in Russia, the Company may be required to adjust accounting practices relating to revenue recognition in this region, with the result that the Company may not be able to recognize revenue until risk of revenue reversal is not probable.

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Our significant accounting policies are described in Note 2 to the consolidated and combined financial statements included in our Transition Reports on Form 10-KT for the fiscal year ended June 30, 2022. There were no material changes to our significant accounting policies during the three months ended September 30, 2022, other than those noted below. (a) Derivatives and Hedging We use derivative instruments to manage exposures to foreign currency exchange rate risks. Our primary objective is holding derivatives to reduce the volatility of cash flows associated with changes in foreign currency exchange rates. Our derivatives expose us to credit risk to the extent that the counterparties may be unable to meet the terms of the agreement. We do seek to mitigate such risks by limiting our counterparties to major financial institutions. In addition, the potential risk of loss with any one counterparty resulting from this type of credit risk is monitored. Management does not expect material losses as a result of defaults by counterparties. 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 and combined balance sheet and measures those instruments at fair value. The Company’s foreign currency forward contracts as described in Note 11 do not qualify for hedge accounting. Accordingly, the changes in fair value of the derivative transactions are presented currently in earnings. (b) Recently Issued Accounting Pronouncements Recently issued accounting pronouncement that will be applicable to the Company are not expected to have a material impact on the Company’s consolidated and combined financial statements.

Revenue from Contracts with Cus

Revenue from Contracts with Customers (Notes)	3 Months Ended
	Sep. 30, 2022
Revenue from Contracts with Customers [Abstract]
Revenue from Contract with Customer [Text Block]	Revenue from Contracts with CustomersContract Assets and Contract LiabilitiesThe contract assets are subject to credit risk and reviewed in accordance with ASC 326. 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.

Acquisitions

Acquisitions - USD ($) $ in Thousands		3 Months Ended
	Oct. 10, 2021	Sep. 30, 2022	Sep. 30, 2021	Jun. 30, 2022
Business Combinations [Abstract]
Acquisitions		Acquisitions Inmation Software GmbH On August 29, 2022, the Company completed the acquisition of Inmation Software GmbH (“Inmation”) for a total cash consideration of $87.4 million. The purchase price consisted of $78.9 million of cash paid at closing and an additional $8.5 million to be held back until August 2023 as security for certain representations, warranties, and obligations of the sellers. The holdback is recorded in accrued expenses and other current liabilities in our consolidated and combined balance sheets. The total cash acquired from Inmation was approximately $4.0 million resulting in a net cash payment of $74.9 million during the three months ending September 30, 2022. The Company recognized goodwill of $63.6 million (none of which is expected to be tax deductible) and identifiable intangible assets of $31.5 million, primarily developed technology and customer relationships, with a useful l ife of approximately 5 years for developed technology and 7 years for customer relationships. The fair value of assets acquired and liabilities assumed represent the preliminary fair value estimates as of September 30, 2022, and are subject to subsequent adjustments as the Company obtains additional information during the measurement period and finalizes its fair value estimates. Inmation’s revenue and net loss included in the Company’s consolidated and combined income statement from the acquisition date to the first reporting period ending on September 30, 2022 were $0.3 million and $(0.2) million, respectively. Results included amortization of developed technology and customer relationships of $0.5 million. The Company has not furnished pro forma financial information relating to Inmation because such information is not material to the Company’s financial results. 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 its shares in Inmation, with another $2.0 million to be paid 12 months after the close. Heritage AspenTech On October 10, 2021, Emerson entered into the Transaction with Heritage AspenTech to contribute the Industrial Software Business comprised of OSI and SSE, along with $6.014 billion in cash, to create the Company. 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 $11.19 billion. During the first quarter of fiscal 2023, the Company recorded purchase price allocation adjustments that increased goodwill by $1.9 million. The following table sets forth the purchase price allocation of the Heritage AspenTech acquisition: Amount (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 64,342 Total asset acquired (excluding Goodwill) 5,502,448 Accounts payable, accrued expenses, and other current liabilities 53,841 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 1,538,902 Net identifiable assets acquired 3,963,546 Goodwill 7,224,730 Net assets acquired $ 11,188,276 The following pro forma consolidated and combined financial results of operations are presented as if the Heritage AspenTech acquisition occurred on October 1, 2020. The 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. Three Months Ended 2022 2021 (Dollars in Thousands) Total revenue $ 250,819 $ 213,035 Net (loss) (6,233) (45,604)
Goodwill		$ 8,326,336		$ 8,266,809
Business Acquisition, Pro Forma Revenue		250,819	$ 213,035
Business Acquisition, Pro Forma Net Income (Loss)		(6,233)	$ (45,604)
Heritage AspenTech
Text Block [Abstract]
Consideration transferred	$ 6,014,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents		273,728
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables		43,163
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other		730,548
Identifiable intangible assets		4,390,667
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets		64,342
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets		5,502,448
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable		53,841
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Deferred Revenue		62,319
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, Deferred Tax Liabilities		1,078,463
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other		62,279
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities		1,538,902
Tangible assets acquired, net		3,963,546
Goodwill		7,224,730
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net		$ 11,188,276

Intangible Assets

Intangible Assets	3 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets Intangible assets consisted of the following as of September 30, 2022 and June 30, 2022: Developed Technology Trademarks Customer Relationships and Backlog Capitalized Software and Other Total (Dollars in Thousands) September 30, 2022: Gross carrying amount $ 1,902,575 $ 464,400 $ 3,081,579 $ 10,149 $ 5,458,703 Less: Accumulated amortization (201,017) (10,489) (216,733) (8,555) (436,794) Net carrying amount $ 1,701,558 $ 453,911 $ 2,864,846 $ 1,594 $ 5,021,909 June 30, 2022: Gross carrying amount $ 1,882,037 $ 464,400 $ 3,072,738 $ 10,149 $ 5,429,324 Less: Accumulated amortization (153,758) (9,379) (144,888) (8,518) (316,543) Net carrying amount $ 1,728,279 $ 455,021 $ 2,927,850 $ 1,631 $ 5,112,781 The increase in intangible assets from June 30, 2022 was primarily due to the Inmation acquisition. See Note 4, Acquisitions. Total intangible asset amortizatio n expense was $121.2 million, of which $97.9 million related to the Heritage AspenTech acquisition, and $28.8 million d

Goodwill

Goodwill	3 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill The changes in the carrying amount of goodwill during the three months ended September 30, 2022 were as follows: Carrying Value (Dollars in Thousands) Balance, June 30, 2022 $ 8,266,809 Goodwill from Inmation acquisition 63,577 Purchase accounting adjustment from Heritage AspenTech acquisition 1,931 Foreign currency translation (5,981) Balance, September 30, 2022 $ 8,326,336

Fair Value

Fair Value	3 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value	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.” Our derivative instruments are primarily classified as Level 2, as they are not actively traded and are valued using pricing models that use observable market inputs. The following table summarizes financial assets and liabilities measured and recorded at fair value on a recurring basis in the accompanying consolidated and combined balance sheets as of September 30, 2022 and June 30, 2022, 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) September 30, 2022: Cash equivalents $ 1,026 $ — Equity method investments — 2,032 Derivative liabilities — (50,259) June 30, 2022: Cash equivalents 2,998 — Equity method investments $ — $ 1,761 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 their carrying value. The estimated fair value of the borrowings under the Amended and Restated Credit Agreement (described below in Note 8, “Credit Agreement”) approximates its carrying value due to the floating interest rate.

Credit Agreement

Credit Agreement	3 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Credit Agreement	Debt Bridge Facility On July 27, 2022, the Company entered into a $475.0 million senior unsecured bridge facility (the “Bridge Facility”) with JPMorgan Chase Bank, N.A. (“JPMorgan”), as Administrative Agent, to finance the Micromine acquisition. The Bridge Facility was entered into under the existing Amended and Restated Credit Agreement dated as of December 23, 2019, with JPMorgan ("Credit Agreement"). The Company may elect that each incremental borrowing under the Bridge Facility bear interest at a rate per annum equal to (a) the Alternate Base Rate (“ABR”), plus the applicable margin or (b) the Adjusted Term Secured Overnight Financing Rate (“SOFR”), plus the applicable margin. The outstanding balance under the Bridge Facility as of September 30, 2022 was $0 million and is payable 364 days after the closing date of July 27, 2022. As consideration for JPMorgan’s agreement to act as administrative agent for the Bridge Facility, the Company is required to pay a fee of $50,000 per annum, payable on the closing date of the loan and every anniversary thereof during the term of the loan. In addition, the Company incurred issuance costs associated with the Bridge Facility. For the three months ended September 30, 2022, the Company has paid in total $2.375 million fees to JPMorgan to secure the Bridge Facility, which was recorded as other current assets and is being amortized to interest expense over the estimated term of the loan. Credit Agreement The Company also has a Credit Agreement with JP Morgan that provides for a $200.0 million secured revolving credit facility and a $320.0 million secured term loan facility. As of September 30, 2022, the Company's current and non-current borrowings, under the term loan facility, were $30.0 million and $240.0 million, respectively. As of June 30, 2022, the Company's current and non-current borrowings, under the term loan facility, were $28.0 million and $245.6 million, respectively. The interest rate on the term loan facility as of September 30, 2022 was 2.74%. There were no amounts outstanding under the revolving credit facility at either September 30, 2022 or June 30, 2022. Any outstanding balances of the indebtedness under the revolving credit facility mature on December 23, 2024. The following table summarizes the maturities of the term loan facility: Year Ending June 30, Amount (Dollars in Thousands) 2023 $ 22,000 2024 36,000 2025 212,000 Total $ 270,000 The Credit Agreement contains customary affirmative and negative covenants, which are also applicable to the Bridge Facility, including restrictions on incurrence of additional debt, liens, fundamental changes, asset sales, restricted payments (including dividends) and transactions with affiliates. There are also financial covenants measured at the end of each fiscal quarter including a maximum leverage ratio of 3.50 to 1.00 and a minimum interest coverage ratio of 2.50 to 1.00. As of September 30, 2022, the Company was in compliance with all the loan covenants.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation The stock-based compensation expense under all equity plans and its classification in the unaudited consolidated and combined statements of operations for the three months ended September 30, 2022 and 2021 are as follows: Three Months Ended 2022 2021 (Dollars in Thousands) Recorded as expenses: Cost of license and solutions $ 742 $ — Cost of maintenance 561 — Cost of services and other 408 — Selling and marketing 3,347 — Research and development 3,611 — General and administrative 9,067 368 Total stock-based compensation $ 17,736 $ 368 During the three month period ended September 30, 2022, the Company granted 162,383 stock options and 164,098 restricted stock units (“RSUs”). The stock options granted had a weighted average exercise price of $211.87 per option and a weighted average fair value of $77.29 per option. The RSUs granted had a weighted average fair value of $207.02 per RSU.

Net Income Per Share

Net Income Per Share	3 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Net Income Per Share	Net Income Per Share Basic income per share is determined by dividing net income by the weighted average common shares outstanding during the period. Diluted income per share is determined by dividing net income by diluted weighted average shares outstanding during the period. Diluted weighted average shares reflect the dilutive effect, if any, of potential common shares. To the extent their effect is dilutive, employee equity awards and other commitments to be settled in common stock are included in the calculation of diluted net income per share based on the treasury stock method. Prior to the Transaction, the Industrial Software Business did not have any shares of common stock outstanding. Accordingly, net loss per share for the three months ended September 30, 2021 has been calculated using weighted average shares outstanding (basic and diluted) based on the number of shares of common stock issued to Emerson on the Closing Date of the Transaction. The calculations of basic and diluted net income per share and basic and dilutive weighted average shares outstanding for the three months ended September 30, 2022 and 2021 are as follows: Three Months Ended (Dollars and Shares in Thousands, Except per Share Data) 2022 2021 Net (loss) $ (11,244) $ (11,202) Basic weighted average shares outstanding 64,454 36,308 Dilutive weighted average shares outstanding 64,454 36,308 (Loss) per share Basic $ (0.17) $ (0.31) Dilutive $ (0.17) $ (0.31) For the three months ended September 30, 2022, and 2021 certain employee equity awards were anti-dilutive based on the treasury stock method. The following employee equity awards were excluded from the calculation of dilutive weighted average shares outstanding because their effect would be anti-dilutive as of September 30, 2022 and 2021: Three Months Ended 2022 2021 (Shares in Thousands) Employee equity awards 286 — Included in the table above are options to purchase 49,079 shares of our common stock during the three months ended September 30, 2022, which were not included in the computation of dilutive weighted average shares outstanding, because their exercise prices ranged from $208.57 per share to $225.63 per share and were greater than the average market price of our common stock during the period then ended. These options were outstanding as of September 30, 2022 and expire at various dates through September 13, 2032.

Comprehensive Text Block List

Comprehensive Text Block List	3 Months Ended
	Sep. 30, 2022
Text Block [Abstract]
Derivatives and Fair Value	Derivatives In connection with the agreement to purchase Micromine, the Company also entered into foreign currency forward contracts on August 2, 2022 for a six-month period ending on February 6, 2023 to mitigate the impact of foreign currency exchange associated with the forecasted payment of purchase price. The acquisition is expected to close in the second quarter of fiscal 2023. The notional amounts of our outstanding derivatives are in total AU $900 million. As of September 30, 2022, the fair values of our derivative instruments were $50.3 million and were recorded to the liability from foreign currency forward contract caption on the consolidated and combined balance sheets. For the three months ended September 30, 2022, the Company recognized losses of $50.3 million and recorded as part of the other income (expense), net on the consolidated and combined statements of operations.

Income Taxes

Income Taxes	3 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Benefit for Income Taxes Benefit for income taxes was $93.5 million and $4.3 million for the three months ended September 30, 2022 and 2021, respectively, resulting in effective tax rates of 89.3% and 27.8%, respectively. Income tax benefit increased due to the higher Foreign-Derived Intangible Income (“FDII”) deduction recorded in the current period as a result of non-deductible amortization of intangibles, capitalized R&D costs, and a change in the accounting methodology related to historical revenue recognition for tax purposes on multi-year software license agreements. The change resulted in the recognition of taxable income over a 4 tax year period with fiscal year 2024 as the last year of the adjustment.

Comprehensive Text Block List_2

Comprehensive Text Block List	3 Months Ended
	Sep. 30, 2022
Text Block [Abstract]
Related Party Transactions Disclosure	Related-Party Transactions The Company utilizes Emerson's centralized treasury function which manages 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. Pooled cash and nontrade balances attributable to Emerson have been presented as receivables from related parties or due to related parties in the consolidated and combined financial statements of the Company. Before the Closing Date, the Industrial Software Business was charged for costs directly attributable to the SSE and OSI 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 Date, Emerson and the Company entered into the transition service agreement (“TSA”) for the provision of certain transitionary services from Emerson to AspenTech. Pursuant to the TSA, Emerson will provide AspenTech and its subsidiaries with certain services, including information technology, human resources and other specified services, as well as access to certain of Emerson’s existing facilities. TSA 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 and combined financial statements presented. Receivables from related parties and due to related parties reported in the consolidated and combined balance sheets as of September 30, 2022 and June 30, 2022 include the following: September 30, June 30, 2022 2022 Interest bearing receivables from related parties $ 14,518 $ 16,122 Trade receivables from related parties 55 819 Interest bearing payables to related parties 14,460 2,028 Trade payables to related parties 2,059 2,083 Allocations and charges from Emerson are as follows: Three Months Ended 2022 2021 Corporate costs $ — $ 601 Information technology 811 1,048 Insurance and other benefits — 229 Shared services and other 2,697 4,316 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 Date, OSI and SSE engaged in various transactions to sell software and purchase goods in the ordinary course of business with affiliates of Emerson. At the Closing Date, the Company and Emerson entered into a commercial agreement to allow Emerson to distribute software and services from AspenTech. (the “Commercial Agreement”). Pursuant to the Commercial Agreement, AspenTech will grant Emerson the right to distribute, on a non-exclusive basis, certain (i) existing Heritage AspenTech products, (ii) existing Emerson products being 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 presented. Revenue from Emerson are as follows: Three Months Ended 2022 2021 Revenue from Emerson affiliates $ 4 $ — Purchases from Emerson affiliates 139 840 Emerson Share Maintenance Rights Immediately following the Closing Date, Emerson beneficially owned 55% of the fully diluted shares of AspenTech common stock. Under the Shareholders Agreement, Emerson has the right to acquire additional equity securities of AspenTech pursuant to pre-agreed procedures and rights in order to maintain its 55% ownership. No additional shares of common stock, or any other equity securities of AspenTech, were issued to Emerson subsequent to the Closing Date through September 30, 2022. 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.

Segment Information

Segment Information	3 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Segment Information	Segment 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 Transactions, the Industrial Software Business had two operating and reportable segments: OSI Inc. and GSS (subsequently renamed Subsurface Science & Engineering Solutions, or “SSE”, after the Closing Date). The Transactions 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, as of September 30, 2022, the Company is now comprised of a single operating and reportable segment. Accordingly, the Company has restated its operating and reportable segment information for the three months ended September 30, 2021. 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 Three Months Ended September 30, 2022 2021 Americas $ 130,858 $ 51,897 Asia, Middle East and Africa 53,671 10,563 Europe 66,290 14,555 Total $ 250,819 $ 77,015 Americas included revenue in the U.S. of $112.2 million and $49.0 million for the three months ended September 30, 2022 and 2021. Property, Equipment, and Leasehold Improvements, Net September 30, 2022 June 30, 2022 Americas $ 14,645 $ 14,591 Asia, Middle East and Africa 1,597 1,154 Europe 868 1,403 Total $ 17,110 $ 17,148 Property, equipment, and leasehold improvements located in the U.S. were $25.2 million and $13.0 million as of September 30, 2022 and June 30, 2022.

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Policies)	3 Months Ended
	Sep. 30, 2022
Revenue from Contracts with Customers [Abstract]
Revenue from Contract with Customer [Policy 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. 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 Company's contract assets and contract liabilities were as follows as of September 30, 2022 and June 30, 2022: September 30, June 30, (Dollars in Thousands) Contract assets $ 916,091 $ 857,065 Contract liabilities (152,607) (164,408) $ 763,484 $ 692,657 Contract assets and contract liabilities are presented net at the contract level for each reporting period. 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 net contract liabilities during the three months ended September 30, 2022 was primarily due to an increase in new billings in advance of revenue recognition, partially offset by $55.2 million of revenue recognized that was included in net contract liabilities as of June 30, 2022. The Company did not have any customer that accounted for 10 percent or more of the Company’s revenues for the three months ended September 30, 2022 and 2021, respectively. Transaction Price Allocated to Remaining Performance Obligations The following table includes the aggregate amount of the transaction price allocated as of September 30, 2022 to the performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period: Year Ending June 30, 2023 2024 2025 2026 2027 Thereafter (Dollars in Thousands) License and solutions $ 123,298 $ 84,137 $ 24,293 $ 10,453 $ 803 $ — Maintenance 64,654 29,123 10,731 5,187 7,375 4,966 Services and other 10,847 5,010 1,979 1,672 853 2,954 The table below reflects disaggregated revenues by business for the three months ended September 30, 2022 and 2021, respectively. Three Months Ended September 30, 2022 2021 Heritage AspenTech $ 176,406 $ — SSE 32,988 29,097 OSI, Inc. 41,425 47,918 Total $ 250,819 $ 77,015

Intangible Assets (Policies)

Intangible Assets (Policies)	3 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets Intangible assets consisted of the following as of September 30, 2022 and June 30, 2022: Developed Technology Trademarks Customer Relationships and Backlog Capitalized Software and Other Total (Dollars in Thousands) September 30, 2022: Gross carrying amount $ 1,902,575 $ 464,400 $ 3,081,579 $ 10,149 $ 5,458,703 Less: Accumulated amortization (201,017) (10,489) (216,733) (8,555) (436,794) Net carrying amount $ 1,701,558 $ 453,911 $ 2,864,846 $ 1,594 $ 5,021,909 June 30, 2022: Gross carrying amount $ 1,882,037 $ 464,400 $ 3,072,738 $ 10,149 $ 5,429,324 Less: Accumulated amortization (153,758) (9,379) (144,888) (8,518) (316,543) Net carrying amount $ 1,728,279 $ 455,021 $ 2,927,850 $ 1,631 $ 5,112,781 The increase in intangible assets from June 30, 2022 was primarily due to the Inmation acquisition. See Note 4, Acquisitions. Total intangible asset amortizatio n expense was $121.2 million, of which $97.9 million related to the Heritage AspenTech acquisition, and $28.8 million d

Goodwill (Policies)

Goodwill (Policies)	3 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill The changes in the carrying amount of goodwill during the three months ended September 30, 2022 were as follows: Carrying Value (Dollars in Thousands) Balance, June 30, 2022 $ 8,266,809 Goodwill from Inmation acquisition 63,577 Purchase accounting adjustment from Heritage AspenTech acquisition 1,931 Foreign currency translation (5,981) Balance, September 30, 2022 $ 8,326,336

Revenue from Contracts with C_3

Revenue from Contracts with Customers (Tables)	3 Months Ended
	Sep. 30, 2022
Revenue from Contracts with Customers [Abstract]
Disaggregation of Revenue [Table Text Block]	The table below reflects disaggregated revenues by business for the three months ended September 30, 2022 and 2021, respectively. Three Months Ended September 30, 2022 2021 Heritage AspenTech $ 176,406 $ — SSE 32,988 29,097 OSI, Inc. 41,425 47,918 Total $ 250,819 $ 77,015
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]	The Company's contract assets and contract liabilities were as follows as of September 30, 2022 and June 30, 2022: September 30, June 30, (Dollars in Thousands) Contract assets $ 916,091 $ 857,065 Contract liabilities (152,607) (164,408) $ 763,484 $ 692,657
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block]	The following table includes the aggregate amount of the transaction price allocated as of September 30, 2022 to the performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period: Year Ending June 30, 2023 2024 2025 2026 2027 Thereafter (Dollars in Thousands) License and solutions $ 123,298 $ 84,137 $ 24,293 $ 10,453 $ 803 $ — Maintenance 64,654 29,123 10,731 5,187 7,375 4,966 Services and other 10,847 5,010 1,979 1,672 853 2,954

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Sep. 30, 2022
Business Acquisition [Line Items]
Schedule of recognized identified assets acquired and liabilities assumed	The following table sets forth the purchase price allocation of the Heritage AspenTech acquisition: Amount (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 64,342 Total asset acquired (excluding Goodwill) 5,502,448 Accounts payable, accrued expenses, and other current liabilities 53,841 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 1,538,902 Net identifiable assets acquired 3,963,546 Goodwill 7,224,730 Net assets acquired $ 11,188,276
Business Acquisition, Pro Forma Information	The 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. Three Months Ended 2022 2021 (Dollars in Thousands) Total revenue $ 250,819 $ 213,035 Net (loss) (6,233) (45,604)

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible assets	Intangible assets consisted of the following as of September 30, 2022 and June 30, 2022: Developed Technology Trademarks Customer Relationships and Backlog Capitalized Software and Other Total (Dollars in Thousands) September 30, 2022: Gross carrying amount $ 1,902,575 $ 464,400 $ 3,081,579 $ 10,149 $ 5,458,703 Less: Accumulated amortization (201,017) (10,489) (216,733) (8,555) (436,794) Net carrying amount $ 1,701,558 $ 453,911 $ 2,864,846 $ 1,594 $ 5,021,909 June 30, 2022: Gross carrying amount $ 1,882,037 $ 464,400 $ 3,072,738 $ 10,149 $ 5,429,324 Less: Accumulated amortization (153,758) (9,379) (144,888) (8,518) (316,543) Net carrying amount $ 1,728,279 $ 455,021 $ 2,927,850 $ 1,631 $ 5,112,781

Goodwill (Tables)

Goodwill (Tables)	3 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in carrying amount of goodwill by reporting unit	The changes in the carrying amount of goodwill during the three months ended September 30, 2022 were as follows: Carrying Value (Dollars in Thousands) Balance, June 30, 2022 $ 8,266,809 Goodwill from Inmation acquisition 63,577 Purchase accounting adjustment from Heritage AspenTech acquisition 1,931 Foreign currency translation (5,981) Balance, September 30, 2022 $ 8,326,336

Fair Value Fair Value (Tables)

Fair Value Fair Value (Tables)	3 Months Ended
	Sep. 30, 2022
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 and combined balance sheets as of September 30, 2022 and June 30, 2022, 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) September 30, 2022: Cash equivalents $ 1,026 $ — Equity method investments — 2,032 Derivative liabilities — (50,259) June 30, 2022: Cash equivalents 2,998 — Equity method investments $ — $ 1,761

Credit Agreement Term Loan Matu

Credit Agreement Term Loan Maturity (Tables)	3 Months Ended
	Sep. 30, 2022
Line of Credit Facility [Line Items]
Schedule of Maturities of Long-term Debt [Table Text Block]	The following table summarizes the maturities of the term loan facility: Year Ending June 30, Amount (Dollars in Thousands) 2023 $ 22,000 2024 36,000 2025 212,000 Total $ 270,000

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of stock-based compensation expense	The stock-based compensation expense under all equity plans and its classification in the unaudited consolidated and combined statements of operations for the three months ended September 30, 2022 and 2021 are as follows: Three Months Ended 2022 2021 (Dollars in Thousands) Recorded as expenses: Cost of license and solutions $ 742 $ — Cost of maintenance 561 — Cost of services and other 408 — Selling and marketing 3,347 — Research and development 3,611 — General and administrative 9,067 368 Total stock-based compensation $ 17,736 $ 368

Net Income Per Share (Tables)

Net Income Per Share (Tables)	3 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Schedule of calculations of basic and diluted net income per share and basic and dilutive weighted average shares outstanding	The calculations of basic and diluted net income per share and basic and dilutive weighted average shares outstanding for the three months ended September 30, 2022 and 2021 are as follows: Three Months Ended (Dollars and Shares in Thousands, Except per Share Data) 2022 2021 Net (loss) $ (11,244) $ (11,202) Basic weighted average shares outstanding 64,454 36,308 Dilutive weighted average shares outstanding 64,454 36,308 (Loss) per share Basic $ (0.17) $ (0.31) Dilutive $ (0.17) $ (0.31)
Schedule of employee equity awards excluded from the calculation of dilutive weighted average shares outstanding	The following employee equity awards were excluded from the calculation of dilutive weighted average shares outstanding because their effect would be anti-dilutive as of September 30, 2022 and 2021: Three Months Ended 2022 2021 (Shares in Thousands) Employee equity awards 286 —

Comprehensive Text Block List (

Comprehensive Text Block List (Tables)	3 Months Ended
	Sep. 30, 2022
Text Block [Abstract]
Restructuring and Related Costs	Allocations and charges from Emerson are as follows: Three Months Ended 2022 2021 Corporate costs $ — $ 601 Information technology 811 1,048 Insurance and other benefits — 229 Shared services and other 2,697 4,316
Investments in and Advances to Affiliates	Revenue from Emerson are as follows: Three Months Ended 2022 2021 Revenue from Emerson affiliates $ 4 $ — Purchases from Emerson affiliates 139 840
Schedule of Accounts Payable and Accrued Liabilities	Receivables from related parties and due to related parties reported in the consolidated and combined balance sheets as of September 30, 2022 and June 30, 2022 include the following: September 30, June 30, 2022 2022 Interest bearing receivables from related parties $ 14,518 $ 16,122 Trade receivables from related parties 55 819 Interest bearing payables to related parties 14,460 2,028 Trade payables to related parties 2,059 2,083

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Revenue from External Customers by Geographic Areas	Summarized below is information about the Company's geographic operations: Revenue by Destination Three Months Ended September 30, 2022 2021 Americas $ 130,858 $ 51,897 Asia, Middle East and Africa 53,671 10,563 Europe 66,290 14,555 Total $ 250,819 $ 77,015
Property, Plant and Equipment [Table Text Block]	Property, Equipment, and Leasehold Improvements, Net September 30, 2022 June 30, 2022 Americas $ 14,645 $ 14,591 Asia, Middle East and Africa 1,597 1,154 Europe 868 1,403 Total $ 17,110 $ 17,148

Organization and Basis of Prese

Organization and Basis of Presentation (Details) $ in Millions, $ in Millions	Jul. 27, 2022 AUD ($)	Jul. 27, 2022 USD ($)	Sep. 30, 2022 countries
Contractors [Abstract]
Number of Countries in which Entity Operates | countries			80
Business Combination, Consideration Transferred AUD	$ 900
Business Combination, Consideration Transferred USD		$ 623

Significant Accounting Polici_2

Significant Accounting Policies - Foreign Currency Transactions (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Foreign Currency Transactions
Liability from foreign currency forward contract	$ 50,259	$ 0

Revenue from Contracts with C_4

Revenue from Contracts with Customers (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue recognized that was previously deferred	$ 55,200
Revenue from Contract with Customer, Excluding Assessed Tax	$ 250,819	$ 77,015
Segment Reporting, Disclosure of Major Customers	not	not
OSI Inc.
Revenue from Contract with Customer, Excluding Assessed Tax	$ 41,425	$ 47,918
SSE
Revenue from Contract with Customer, Excluding Assessed Tax	32,988	29,097
Heritage AspenTech
Revenue from Contract with Customer, Excluding Assessed Tax	$ 176,406	$ 0

Revenue from Contracts with C_5

Revenue from Contracts with Customers Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Total revenue	$ 250,819	$ 77,015
Term Licenses [Member]
Total revenue	160,224	44,215
Maintenance [Member]
Total revenue	$ 78,366	$ 24,535

Revenue from Contracts with C_6

Revenue from Contracts with Customers Contract Balances (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2022	Jun. 30, 2022
Revenue recognized that was previously deferred	$ 55,200
Deferred revenue	(152,607)	$ (164,408)
Net contract assets	763,484	692,657
Contract assets	$ 916,091	$ 857,065

Revenue from Contracts with C_7

Revenue from Contracts with Customers Transaction Price Allocated to Remaining Performance Obligations (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Cost of license and solutions | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01
Transaction Price Allocated to Remaining Performance Obligations, Amount	$ 123,298
Cost of license and solutions | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Transaction Price Allocated to Remaining Performance Obligations, Amount	84,137
Cost of license and solutions | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Transaction Price Allocated to Remaining Performance Obligations, Amount	24,293
Cost of license and solutions | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-07-01
Transaction Price Allocated to Remaining Performance Obligations, Amount	10,453
Cost of license and solutions | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-07-01
Transaction Price Allocated to Remaining Performance Obligations, Amount	803
Cost of license and solutions | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-07-01
Transaction Price Allocated to Remaining Performance Obligations, Amount	0
Maintenance [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01
Transaction Price Allocated to Remaining Performance Obligations, Amount	64,654
Maintenance [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Transaction Price Allocated to Remaining Performance Obligations, Amount	29,123
Maintenance [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Transaction Price Allocated to Remaining Performance Obligations, Amount	10,731
Maintenance [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-07-01
Transaction Price Allocated to Remaining Performance Obligations, Amount	5,187
Maintenance [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-07-01
Transaction Price Allocated to Remaining Performance Obligations, Amount	7,375
Maintenance [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-07-01
Transaction Price Allocated to Remaining Performance Obligations, Amount	4,966
Services and other | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01
Transaction Price Allocated to Remaining Performance Obligations, Amount	10,847
Services and other | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Transaction Price Allocated to Remaining Performance Obligations, Amount	5,010
Services and other | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Transaction Price Allocated to Remaining Performance Obligations, Amount	1,979
Services and other | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-07-01
Transaction Price Allocated to Remaining Performance Obligations, Amount	1,672
Services and other | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-07-01
Transaction Price Allocated to Remaining Performance Obligations, Amount	853
Services and other | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-07-01
Transaction Price Allocated to Remaining Performance Obligations, Amount	$ 2,954

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) - USD ($) $ in Thousands				1 Months Ended	3 Months Ended
	Aug. 29, 2022	May 16, 2022	Oct. 10, 2021	Sep. 30, 2022	Sep. 30, 2022	Sep. 30, 2021	Jun. 30, 2022
Business Acquisition [Line Items]
Goodwill				$ 8,326,336	$ 8,326,336		$ 8,266,809
Effective income tax rate (as a percent)					89.30%	27.80%
Trademarks				436,794	$ 436,794		316,543
Total revenue					250,819	$ 77,015
Net (loss)					(11,244)	(11,202)
Payments to Acquire Businesses, Net of Cash Acquired					74,947	1,065
Business Acquisition, Percentage of Voting Interests Acquired		55%
Business Acquisition, Pro Forma Revenue					250,819	213,035
Business Acquisition, Pro Forma Net Income (Loss)					(6,233)	(45,604)
Business Acquisitions, Purchase Price Allocation, Subsequent Years, Remaining Adjustments				1,900	1,900
Intangible asset amortization expense					121,200	$ 28,800
Business Combination, Consideration Transferred, Net Cash Paid	$ 74,900
Heritage AspenTech
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired		$ 11,190,000
Inmation Software GmbH
Business Acquisition [Line Items]
Consideration transferred	87,400
Identifiable intangible assets	31,500
Goodwill	63,600
Total revenue				300
Net (loss)				(200)
Business Combination, Consideration Transferred, Cash Paid	78,900
Business Combination, Consideration Transferred, Hold Back	8,500
Business Combination, Consideration Transferred, Exchange of Shares	17,600
Business Combination, Consideration Transferred, Exchange of Shares, After	2,000
Business Combination, Consideration Transferred, Cash Acquired	$ 4,000
Heritage AspenTech
Business Acquisition [Line Items]
Consideration transferred			$ 6,014,000
Identifiable intangible assets				4,390,667	4,390,667
Goodwill				7,224,730	7,224,730
Business Acquisition, Percentage of Voting Interests Acquired		45%
Intangible asset amortization expense					97,900
Emerson Electric Co.
Business Acquisition [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired		55%
Customer relationships
Business Acquisition [Line Items]
Trademarks				216,733	216,733		144,888
Customer relationships | Inmation Software GmbH
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life	7 years
Gross carrying amount
Business Acquisition [Line Items]
Trademarks				201,017	201,017		$ 153,758
Gross carrying amount | Inmation Software GmbH
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life	5 years
Trademarks				$ 500	$ 500

Acquisitions - Schedule of Reco

Acquisitions - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022
Business Acquisition [Line Items]
Goodwill	$ 8,326,336	$ 8,266,809

Intangible Assets - Schedule of

Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022
Finite-Lived Intangible Assets [Line Items]
Developed Technology	$ 5,458,703	$ 5,429,324
Trademarks	(436,794)	(316,543)
Total	5,021,909	5,112,781
Gross carrying amount
Finite-Lived Intangible Assets [Line Items]
Developed Technology	1,902,575	1,882,037
Trademarks	(201,017)	(153,758)
Total	1,701,558	1,728,279
Less: Accumulated amortization
Finite-Lived Intangible Assets [Line Items]
Developed Technology	3,081,579	3,072,738
Trademarks	(216,733)	(144,888)
Total	2,864,846	2,927,850
Trademarks
Finite-Lived Intangible Assets [Line Items]
Developed Technology	464,400	464,400
Trademarks	(10,489)	(9,379)
Total	453,911	455,021
Purchased software
Finite-Lived Intangible Assets [Line Items]
Developed Technology	10,149	10,149
Trademarks	(8,555)	(8,518)
Total	$ 1,594	$ 1,631

Intangible Assets - Narrative (

Intangible Assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible asset amortization expense	$ 121.2	$ 28.8

Goodwill - Goodwill, Net (Detai

Goodwill - Goodwill, Net (Details) $ in Thousands	3 Months Ended
	Sep. 30, 2022 USD ($)
Goodwill:
Balance, June 30, 2022	$ 8,266,809
Goodwill from Inmation acquisition	63,577
Purchase accounting adjustment from Heritage AspenTech acquisition	1,931
Foreign currency translation	(5,981)
Balance, September 30, 2022	$ 8,326,336

Fair Value (Details)

Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022
Level 1 Inputs
Fair Value
Cash equivalents	$ 1,026	$ 2,998
Equity method investments	0	0
Derivative liabilities	0
Level 2 Inputs
Fair Value
Cash equivalents	0	0
Equity method investments	2,032	$ 1,761
Derivative liabilities	$ (50,259)

Credit Agreement (Details)

Credit Agreement (Details) - USD ($)	3 Months Ended
	Sep. 30, 2022	Jul. 27, 2022	Jun. 30, 2022	Dec. 23, 2019
Secured Debt [Member]
Credit Agreement
Principal amount	$ 270,000,000			$ 320,000,000
Effective interest rate (as a percent)	2.74%
Short-term Debt	$ 30,000,000		$ 28,000,000
Maximum leverage ratio	3.50
Minimum interest coverage ratio	2.50
Non-current borrowings, net	$ 240,000,000		$ 245,647,000
Noninterest Expense Transfer Agent and Custodian Fees	50,000
Investment Banking, Advisory, Brokerage, and Underwriting Fees and Commissions	2,375,000
United States of America, Dollars
Credit Agreement
Bridge Loan		$ 475,000,000
Revolving Credit Facility [Member]
Credit Agreement
Principal amount				$ 200,000,000
Bridge Loan
Credit Agreement
Principal amount	$ 0

Credit Agreement Schedule of Lo

Credit Agreement Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022	Dec. 23, 2019
Debt Instrument [Line Items]
Long-term Debt	$ 240,000	$ 245,647
Short-term Debt	30,000	$ 28,000
Secured Debt [Member]
Debt Instrument [Line Items]
2023	22,000
2024	36,000
2025	212,000
Total	$ 270,000		$ 320,000

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Disclosures (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Stock-based compensation, additional disclosures
Issuance of shares of common stock	$ 8,470	$ 0
Employee stock purchase plan, stock-based compensation	$ 17,736	$ 368
Restricted Stock Units
Stock-based compensation, additional disclosures
Weighted average grant-date fair value of RSUs granted	$ 207.02
Performance awards, shares granted	164,098

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock-Based Compensation Expense and its Classification in the Consolidated Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Recorded as expenses:
Total stock-based compensation	$ 17,736	$ 368
Cost of license and solutions
Recorded as expenses:
Total stock-based compensation	742	0
Cost of maintenance
Recorded as expenses:
Total stock-based compensation	561	0
Cost of services and other
Recorded as expenses:
Total stock-based compensation	408	0
Selling and marketing
Recorded as expenses:
Total stock-based compensation	3,347	0
Research and development
Recorded as expenses:
Total stock-based compensation	3,611	0
General and administrative
Recorded as expenses:
Total stock-based compensation	$ 9,067	$ 368

Stock-Based Compensation - St_2

Stock-Based Compensation - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Aggregate Intrinsic Value
Issuance of shares of common stock	$ 8,470	$ 0
Stock-Based Compensation	Stock-Based Compensation The stock-based compensation expense under all equity plans and its classification in the unaudited consolidated and combined statements of operations for the three months ended September 30, 2022 and 2021 are as follows: Three Months Ended 2022 2021 (Dollars in Thousands) Recorded as expenses: Cost of license and solutions $ 742 $ — Cost of maintenance 561 — Cost of services and other 408 — Selling and marketing 3,347 — Research and development 3,611 — General and administrative 9,067 368 Total stock-based compensation $ 17,736 $ 368 During the three month period ended September 30, 2022, the Company granted 162,383 stock options and 164,098 restricted stock units (“RSUs”). The stock options granted had a weighted average exercise price of $211.87 per option and a weighted average fair value of $77.29 per option. The RSUs granted had a weighted average fair value of $207.02 per RSU.
Stock Options
Stock options activity
Granted (in shares)	162,383
Weighted Average Exercise Price
Granted (in dollars per share)	$ 211.87
Exercised (in dollars per share)	$ 77.29

Stock-Based Compensation - RSU

Stock-Based Compensation - RSU Activity (Details) - Restricted Stock Units	3 Months Ended
	Sep. 30, 2022 $ / shares shares
Restricted stock units activity
Granted (in shares) | shares	164,098
Weighted Average Grant Date Fair Value
Granted (in dollars per share) | $ / shares	$ 207.02

Net Income Per Share - Calculat

Net Income Per Share - Calculations of Basic and Diluted Net Income per Share and Basic and Dilutive Weighted Average Shares Outstanding (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Net (loss)	$ (11,244)	$ (11,202)
Weighted average shares outstanding (in shares)	64,454	36,308
Basic (in dollars per share)	$ (0.17)	$ (0.31)
Dilutive (in dollars per share)	$ (0.17)	$ (0.31)
Dilutive impact from:
Dilutive weighted average shares outstanding (in shares)	64,454	36,308

Net Income Per Share - Stock Op

Net Income Per Share - Stock Options Excluded from the Computation of Dilutive Weighted Average Shares Outstanding (Details)	3 Months Ended
	Sep. 30, 2022 $ / shares shares
Stock Options
Employee equity awards were excluded from the calculation of dilutive weighted average shares outstanding because their effect would be anti-dilutive
Employee equity awards (in shares) | shares	49,079
Stock Options
Employee equity awards were excluded from the calculation of dilutive weighted average shares outstanding because their effect would be anti-dilutive
Exercise price range, low end of range (in dollars per share)	$ 208.57
Exercise price range, high end of range (in dollars per share)	$ 225.63

Net Income Per Share - Employee

Net Income Per Share - Employee Equity Awards Excluded from the Calculation of Dilutive Weighted Average Shares Outstanding (Details) - shares	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Employee Equity Awards
Employee equity awards were excluded from the calculation of dilutive weighted average shares outstanding because their effect would be anti-dilutive
Employee equity awards (in shares)	286,000	0
Stock Options
Employee equity awards were excluded from the calculation of dilutive weighted average shares outstanding because their effect would be anti-dilutive
Employee equity awards (in shares)	49,079

Comprehensive Text Block List_3

Comprehensive Text Block List (Details) - 3 months ended Sep. 30, 2022 $ in Millions, $ in Millions	USD ($)	AUD ($)
Text Block [Abstract]
Gain (Loss) on Foreign Currency Derivatives Recorded in Earnings, Net	$ (50.3)
Derivative, Notional Amount		$ 900

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
(Benefit) for income taxes	$ (93,547)	$ (4,313)
Effective income tax rate (as a percent)	89.30%	27.80%

Comprehensive Text Block List_4

Comprehensive Text Block List (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Jun. 30, 2022	May 16, 2022
Text Block [Abstract]
Interest bearing receivables from related parties	$ 14,518		$ 16,122
Business Acquisition, Percentage of Voting Interests Acquired				55%
Revenue from Emerson affiliates	4	$ 0
Purchases from Emerson affiliates	139	840
Accounts Receivable, Related Parties	55		819
Notes Payable, Related Parties	14,460		2,028
Accounts Payable, Related Parties	2,059		$ 2,083
Corporate costs
Payments of Distributions to Affiliates		601
Information technology
Payments of Distributions to Affiliates	811	1,048
Insurance and other benefits
Payments of Distributions to Affiliates		229
Shared services and other
Payments of Distributions to Affiliates	$ 2,697	$ 4,316

Segment Information - Summary o

Segment Information - Summary of Reportable Segments' Profits (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Jun. 30, 2022
Summary of reportable segments' profits
(Loss) from operations	$ (51,182)	$ (13,884)
Property, equipment and leasehold improvements, net	17,110		$ 17,148
Revenue from Contract with Customer, Excluding Assessed Tax	250,819	77,015
Americas
Summary of reportable segments' profits
Property, equipment and leasehold improvements, net	14,645		14,591
Revenue from Contract with Customer, Excluding Assessed Tax	130,858	51,897
Asia, Middle East and Africa
Summary of reportable segments' profits
Property, equipment and leasehold improvements, net	1,597		1,154
Revenue from Contract with Customer, Excluding Assessed Tax	53,671	10,563
Europe
Summary of reportable segments' profits
Property, equipment and leasehold improvements, net	868		1,403
Revenue from Contract with Customer, Excluding Assessed Tax	66,290	14,555
North America
Summary of reportable segments' profits
Property, equipment and leasehold improvements, net	25,200		$ 13,000
Revenue from Contract with Customer, Excluding Assessed Tax	$ 112,200	$ 49,000

Segment Information - Reconcili

Segment Information - Reconciliation of Total Segment Profit to Income before Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Reconciliation to Income before Income Taxes
Total segment profit for reportable segments	$ (51,182)	$ (13,884)
General and administrative	(42,848)	(6,617)
Other (expense), net	5,023	272
Other Nonoperating Income (Expense)	(58,632)	(1,359)
(Loss) before provision for income taxes	$ (104,791)	$ (15,515)

Uncategorized Items - azpn-2022

Label	Element	Value
Entity Common Stock, Shares Outstanding	dei_EntityCommonStockSharesOutstanding	64,540,036