Aspen Technology (AZPN) 10-Q 2 May 23 2023 Q3 Quarterly report Financial data

Cover Page

Cover Page	9 Months Ended
	Mar. 31, 2023
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	Q3
Document Period End Date	Mar. 31, 2023

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Revenue:
Total revenue	$ 229,878	$ 84,601	$ 723,535	$ 243,391
Cost of revenue:
Cost of Revenue	93,799	43,801	278,027	128,898
Gross profit	136,079	40,800	445,508	114,493
Operating expenses:
Selling and marketing	120,035	18,899	356,260	61,894
Research and development	54,046	15,462	153,741	46,400
General and administrative	40,471	9,139	124,557	22,792
Restructuring costs		43		288
Total operating expenses	214,552	43,543	634,558	131,374
(Loss) from operations	(78,473)	(2,743)	(189,050)	(16,881)
Other (expense), net	(13,281)	(2,685)	(33,270)	(5,463)
Interest income (expense), net	9,969	(28)	19,112	(320)
(Loss) before provision for income taxes	(81,785)	(5,456)	(203,208)	(22,664)
(Benefit) for income taxes	(24,150)	(2,176)	(68,132)	(7,422)
Net (loss)	$ (57,635)	$ (3,280)	$ (135,076)	$ (15,242)
Earnings Per Share [Abstract]
Basic	$ (0.89)	$ (0.09)	$ (2.09)	$ (0.42)
Diluted	$ (0.89)	$ (0.09)	$ (2.09)	$ (0.42)
Weighted average shares outstanding:
Basic	64,796	36,308	64,622	36,308
Diluted	64,796	36,308	64,622	36,308
Cost of license and solutions
Revenue:
Total revenue	$ 136,292	$ 50,838	$ 446,360	$ 143,544
Cost of revenue:
Cost of Revenue	68,980	35,546	209,326	103,155
Maintenance [Member]
Revenue:
Total revenue	77,283	27,313	234,277	78,120
Cost of revenue:
Cost of Revenue	9,020	4,296	27,804	12,604
Services and other
Revenue:
Total revenue	16,303	6,450	42,898	21,727
Cost of revenue:
Cost of Revenue	$ 15,799	$ 3,959	$ 40,897	$ 13,139

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Net (loss)	$ (57,635)	$ (3,280)	$ (135,076)	$ (15,242)
Other comprehensive income (loss):
Foreign currency translation adjustments	5,845	(984)	3,690	(1,009)
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax	0	(2)	0	715
Total other comprehensive income (loss)	5,845	(986)	3,690	(294)
Comprehensive (loss)	$ (51,790)	$ (4,266)	$ (131,386)	$ (15,536)

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2023	Jun. 30, 2022
Current assets:
Cash and cash equivalents	$ 286,736	$ 449,725
Accounts receivable, net	115,362	111,027
Current contract assets, net	399,388	428,833
Prepaid expenses and other current assets	22,951	23,461
Prepaid income taxes	7,603	17,503
Total current assets	876,038	1,047,490
Property, equipment and leasehold improvements, net	18,332	17,148
Goodwill	8,328,210	8,266,809
Intangible assets, net	4,780,644	5,112,781
Non-current contract assets, net	471,397	428,232
Contract costs	11,174	5,473
Operating lease right-of-use assets	69,173	78,286
Deferred tax assets	2,388	4,937
Other non-current assets	9,553	8,766
Total assets	14,566,909	14,969,922
Current liabilities:
Accounts payable	11,531	21,416
Accrued expenses and other current liabilities	95,319	90,123
Liability from foreign currency forward contract	40,454	0
Current operating lease liabilities	12,683	7,191
Income taxes payable	24,729	6,768
Current borrowings	0	28,000
Current contract liabilities	154,313	143,327
Total current liabilities	355,132	300,936
Non-current contract liabilities	27,654	21,081
Deferred income tax liabilities	990,461	1,145,408
Non-current operating lease liabilities	57,706	71,933
Non-current borrowings, net	0	245,647
Other non-current liabilities	16,877	15,560
Stockholders' equity:
Common Stock, Value, Issued	6	6
Additional paid-in capital	13,188,678	13,107,570
Retained (deficit) earnings	(68,707)	66,369
Accumulated other comprehensive (loss)	(898)	(4,588)
Total stockholders’ equity	13,119,079	13,169,357
Total liabilities and stockholders’ equity	$ 14,566,909	$ 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	64,858,598	64,425,378
Common stock, outstanding	64,858,598	64,425,378
Related Party
Current assets:
Other Receivables, Net, Current	$ 43,998	$ 16,941
Current liabilities:
Other Liabilities, Current	$ 16,103	$ 4,111

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]	Emerson Electric Co.
Accumulated other comprehensive (loss)					$ (6,487)
Total stockholders’ equity	$ 1,766,184					$ 1,772,671
Net (loss)	(11,202)					(11,202)
Total other comprehensive income (loss)	803				803
Net transfer from (to) Emerson	15,561					15,561
Net (loss)	(15,242)
Total other comprehensive income (loss)	(294)
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax	715
Accumulated other comprehensive (loss)					(5,684)
Total stockholders’ equity	1,771,346					1,777,030
Net (loss)	(760)					(760)
Total other comprehensive income (loss)	(111)				(111)
Net transfer from (to) Emerson	18,118					18,118
Accumulated other comprehensive (loss)					(5,795)
Total stockholders’ equity	1,788,593					1,794,388
Net (loss)	(3,280)					(3,280)
Total other comprehensive income (loss)	(986)				(986)
Issuance of shares of common stock, amount	(986)
Net transfer from (to) Emerson	(49,585)					(49,585)
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax	(2)
Accumulated other comprehensive (loss)					(6,781)
Total stockholders’ equity	$ 1,734,742					$ 1,741,523
Common stock, issued	64,425,378	64,425,378
Additional paid-in capital	$ 13,107,570		$ 13,107,570
Retained (deficit) 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 income (loss)	(8,865)
Issuance of shares of common stock (in shares)		71,547
Issuance of shares of common stock, amount	8,489		8,489
Issuance of restricted stock units and net share settlement related to withholding taxes (in shares)		34,375
Issuance of restricted stock units and net share settlement related to withholding taxes, amount	(4,683)		(4,683)
Stock-based compensation	17,736		17,736
Net (loss)	(135,076)
Total other comprehensive income (loss)	3,690
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax	0
Common stock, issued		64,531,300
Additional paid-in capital			13,129,112
Retained (deficit) earnings				55,125
Accumulated other comprehensive (loss)					(13,453)
Total stockholders’ equity	13,170,790	$ 6
Net (loss)	(66,197)			(66,197)
Total other comprehensive income (loss)	6,710
Issuance of shares of common stock (in shares)		202,506
Issuance of shares of common stock, amount	16,977		16,977
Issuance of restricted stock units and net share settlement related to withholding taxes (in shares)		33,949
Issuance of restricted stock units and net share settlement related to withholding taxes, amount	(4,656)		(4,656)
Stock-based compensation	23,441		23,441
Common stock, issued		64,767,755
Additional paid-in capital			13,164,874
Retained (deficit) earnings				(11,072)
Accumulated other comprehensive (loss)					(6,743)
Total stockholders’ equity	13,147,065	$ 6
Net (loss)	(57,635)			(57,635)
Total other comprehensive income (loss)	5,845
Issuance of shares of common stock (in shares)		50,579
Issuance of shares of common stock, amount	6,031		6,031
Issuance of restricted stock units and net share settlement related to withholding taxes (in shares)		40,264
Issuance of restricted stock units and net share settlement related to withholding taxes, amount	(5,070)		(5,070)
Stock-based compensation	22,843		22,843
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax	$ 0
Common stock, issued	64,858,598	64,858,598
Additional paid-in capital	$ 13,188,678		$ 13,188,678
Retained (deficit) earnings	(68,707)			$ (68,707)
Accumulated other comprehensive (loss)	(898)				$ (898)
Total stockholders’ equity	$ 13,119,079	$ 6

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities:
Net (loss)	$ (135,076)	$ (15,242)
Adjustments to reconcile net (loss) to net cash provided by operating activities:
Depreciation and amortization	368,266	77,335
Reduction in the carrying amount of right-of-use assets	10,463	4,240
Net foreign currency losses	3,711	5,765
Derivative Instruments Not Designated as Hedging Instruments, Gain	(10,821)	0
Stock-based compensation	64,020	1,345
Deferred income taxes	(156,046)	(11,848)
Provision for uncollectible receivables	3,944	852
Other non-cash operating activities	1,108	167
Changes in assets and liabilities:
Accounts receivable	(11,060)	(17,637)
Contract assets	(10,672)	(14,769)
Contract costs	(5,357)	0
Lease liabilities	(10,303)	(3,146)
Prepaid expenses, prepaid income taxes, and other assets	27,641	(662)
Unrealized Gain (Loss) on Derivatives	40,454	0
Accounts payable, accrued expenses, income taxes payable and other liabilities	(12,038)	(7,628)
Contract liabilities	17,416	1,349
Net cash provided by operating activities	185,650	20,121
Cash flows from investing activities:
Purchases of property, equipment and leasehold improvements	(4,515)	(3,831)
Payments for business acquisitions, net of cash acquired	(72,498)	(1,065)
Payments for equity method investments	(676)	0
Payments for capitalized computer software development costs	(347)	0
Purchases of other assets	1,000	287
Net cash used in investing activities	(68,215)	(5,183)
Cash flows from financing activities:
Issuance of shares of common stock	31,542	0
Payment of tax withholding obligations related to restricted stock	(14,406)	0
Deferred business acquisition payments	(1,363)	0
Repayments of amounts borrowed under term loan	(276,000)	0
Net transfers to Parent Company	(5,749)	(17,249)
Payments of debt issuance costs	(2,375)	0
Net cash (used in) financing activities	(268,351)	(17,249)
Effect of exchange rate changes on cash and cash equivalents	(12,073)	(986)
(Decrease) in cash and cash equivalents	(162,989)	(3,297)
Cash and cash equivalents, beginning of period	449,725	23,659
Cash and cash equivalents, end of period	286,736	20,362
Supplemental disclosure of non-cash activities:
Change in purchases of property, equipment and leasehold improvements included in accounts payable and accrued expenses	(1,307)	(71)
Lease liabilities arising from obtaining right-of-use assets	784	288
Supplemental disclosure of cash flow information:
Income taxes paid, net	64,840	49,374
Interest paid	14,345	590
Reconciliation to amounts within the unaudited consolidated balance sheets: [Abstract]
Payments for Purchase of Other Assets	(1,000)	(287)
Proceeds from Derivative Instrument, Investing Activities	$ 10,821	$ 0

Interim Unaudited Consolidated

Interim Unaudited Consolidated Financial Statements $ in Millions	3 Months Ended	9 Months Ended
	Mar. 31, 2023 USD ($)	Mar. 31, 2023 USD ($)
Contractors [Abstract]
Revenue from Contract with Customer, Including Assessed Tax Russia	$ 7.3	$ 34
Assets Russia	$ 41.3	$ 41.3
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” or “Parent Company”) entered into a definitive agreement (the “Transaction Agreement”) with AspenTech 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 the Geological Simulation Software business (“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 March 31, 2023. On December 23, 2022, the Company entered into a credit agreement with Emerson (the “Emerson Credit Agreement”), which will provide for an aggregate term loan commitment of $630.0 million. Refer to Note 13, “Related-Party Transactions”, to our consolidated and combined financial statements for further discussion of the Emerson Credit Agreement. On July 27, 2022, the Company entered into a definitive agreement to acquire Mining Software Holdings Pty Ltd (“Micromine”) for AU$900.0 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 primarily through debt financing under the Emerson Credit Agreement. The closing of the acquisition is subject to regulatory approval. The Company operates globally in 82 countries as of March 31, 2023. 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- and nine-month interim period ended March 31, 2022, 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 March 31, 2023, and for the third quarters of fiscal 2023 and 2022, without audit, pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (the "SEC") and in accordance with generally accepted accounting principles in the United States ("GAAP"). 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 The ongoing conflict in Ukraine could negatively impact the Company's 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 and 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 $7.3 million and $34.0 million for the three- and nine-month period ended March 31, 2023, respectively, and total assets of approximately $41.3 million as of March 31, 2023, related to operations in Russia. 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. The Company may be required to cease or suspend operations in the region or, should the conflict or the effects of sanctions, export control measures and business 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
	Mar. 31, 2023
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 and nine months ended March 31, 2023, other than those noted below. (a) Revenue Recognition Prior to the third quarter of fiscal 2023, OSI Inc. 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, neither the license, hardware, nor 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 OSI Inc. 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 OSI Inc. customers to implement its products. Accordingly, effective January 1, 2023 following the completion of these business transformation activities, for all new OSI Inc. contracts, the Company accounts for the OSI Inc. 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 OSI Inc. is unchanged. Maintenance revenue 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. There were no other changes to the Company’s revenue recognition accounting policy during the three and nine months ended March 31, 2023. (b) Derivatives and Hedging We use derivative instruments to manage exposures to foreign currency exchange rate risks. Our primary objective of holding derivatives is 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 in earnings. (c) Recently Issued Accounting Pronouncements Recently issued accounting pronouncements 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)	9 Months Ended
	Mar. 31, 2023
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 are 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		9 Months Ended
	Oct. 10, 2021	Mar. 31, 2023	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 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 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 $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 l ife of approximately five years for developed technology and seven years for customer relationships. The fair values of assets acquired and liabilities assumed represent the preliminary fair value estimates, 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 reporting period ending on March 31, 2023 were $2.9 million and $(0.9) million, respectively. Results included amortization of developed technology and customer relationships of $3.4 million. 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 $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 the SSE business, 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 nine months ended March 31, 2023, the Company recorded purchase price allocation adjustments that increased goodwill by $1.7 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 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 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 Nine Months Ended 2023 2022 2023 2022 (Dollars in Thousands) Total revenue $ 229,878 $ 272,354 $ 723,535 $ 738,520 Net (loss) $ (53,483) $ (1,776) $ (121,614) $ (54,682)
Goodwill		$ 8,328,210	$ 8,266,809
Heritage AspenTech
Text Block [Abstract]
Consideration transferred	$ 6,014,000
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

Intangible Assets

Intangible Assets	9 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets Intangible assets consisted of the following as of March 31, 2023 and June 30, 2022: Developed Technology Trademarks Customer Relationships and Backlog Capitalized Software and Other Total (Dollars in Thousands) March 31, 2023: Gross carrying amount $ 1,903,599 $ 464,400 $ 3,082,541 $ 10,313 $ 5,460,853 Less: Accumulated amortization (296,950) (12,708) (361,807) (8,744) (680,209) Net carrying amount $ 1,606,649 $ 451,692 $ 2,720,734 $ 1,569 $ 4,780,644 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

Goodwill	9 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill The changes in the carrying amount of goodwill during the nine months ended March 31, 2023 were as follows: Carrying Value (Dollars in Thousands) Balance, June 30, 2022 $ 8,266,809 Goodwill from Inmation acquisition 63,026 Purchase accounting adjustment from Heritage AspenTech acquisition (1,685) Foreign currency translation 60 Balance, March 31, 2023 $ 8,328,210

Fair Value

Fair Value	9 Months Ended
	Mar. 31, 2023
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 inputs," 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 March 31, 2023 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) March 31, 2023: Cash equivalents $ 2,949 $ — Equity method investments — 2,504 Derivative liabilities — (40,454) 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 any 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	9 Months Ended
	Mar. 31, 2023
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. 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. For the nine months ended March 31, 2023, the Company paid a total of $2.375 million in fees to JPMorgan to secure the Bridge Facility. On December 23, 2022, the Company terminated the Bridge Facility, and at the same time entered into the Emerson Credit Agreement, which will provide for an aggregate term loan commitment of $630.0 million. Refer to Note 13, “Related-Party Transactions”, to our consolidated and combined financial statements for further discussion of the Emerson Credit Agreement. Credit Agreement The Company also has a Credit Agreement with JPMorgan that provides for a $200.0 million secured revolving credit facility and a $320.0 million secured term loan facility. On January 17, 2023, the Company paid off the outstanding balance of its existing JPMorgan term loan facility of $264.0 million, plus accrued interest. There were no amounts outstanding under the revolving credit facility at either March 31, 2023 or June 30, 2022. Any outstanding balances of the indebtedness under the revolving credit facility mature on December 23, 2024. 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 March 31, 2023, the Company was in compliance with all the loan covenants.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Mar. 31, 2023
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 and nine months ended March 31, 2023 and 2022 are as follows: Three Months Ended Nine Months Ended 2023 2022 2023 2022 (Dollars in Thousands) Recorded as expenses: Cost of license and solutions $ 832 $ — $ 2,752 $ — Cost of maintenance 427 — 1,462 — Cost of services and other 599 — 1,457 — Selling and marketing 3,695 — 10,886 — Research and development 5,972 — 13,831 — General and administrative 11,318 519 33,632 1,345 Total stock-based compensation $ 22,843 $ 519 $ 64,020 $ 1,345 During the nine month period ended March 31, 2023, the Company granted 187,963 stock options and 191,570 restricted stock units (“RSUs”). The stock options granted had a weighted average exercise price of $207.65 per option and a weighted average fair value of $77.91 per option. The RSUs granted had a weighted average fair value of $207.71 per RSU.

Net Income Per Share

Net Income Per Share	9 Months Ended
	Mar. 31, 2023
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 and nine months ended March 31, 2022 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 and nine months ended March 31, 2023 and 2022 are as follows: Three Months Ended Nine Months Ended (Dollars and Shares in Thousands, Except per Share Data) 2023 2022 2023 2022 Net (loss) $ (57,635) $ (3,280) $ (135,076) $ (15,242) Basic weighted average shares outstanding 64,796 36,308 64,622 36,308 Dilutive weighted average shares outstanding 64,796 36,308 64,622 36,308 (Loss) per share Basic $ (0.89) $ (0.09) $ (2.09) $ (0.42) Dilutive $ (0.89) $ (0.09) $ (2.09) $ (0.42) For the three and nine months ended March 31, 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 as of March 31, 2023 and 2022: Three Months Ended Nine Months Ended 2023 2022 2023 2022 (Shares in Thousands) Employee equity awards 1,441 — 1,367 —

Comprehensive Text Block List

Comprehensive Text Block List	9 Months Ended
	Mar. 31, 2023
Text Block [Abstract]
Derivatives and Fair Value	Derivatives In connection with the agreement to purchase Micromine, the Company 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 the purchase price. The Company received cash proc eeds of $10.8 million on the settlement of the six-month foreign currency forward contracts and recognized a realized gain of $10.8 million i ncluded in other (expense), net on the consolidated and combined statements of operations during the three and nine months ended March 31, 2023. The Company entered into a new foreign currency forward contract on February 6, 2023 for a one-month period ending on March 6, 2023 to mitigate the impact of foreign currency exchange associated with the forecasted payment of the purchase price. In lieu of settlement, on March 6, 2023, the Company and the counterparty rolled the one-month foreign currency forward contract into a two-month foreign currency forward ending on May 5, 2023. The closing of the acquisition is subject to regulatory approval. The notional amount of our outstanding derivative instrument totals AU $900 million. As of March 31, 2023, the fair value of our derivative instrume nt was $40.5 million and was recorded to the liability from foreign currency forward contract caption on the consolidated and combined balance sheets. The Company recognized unrealized losses of $25.1 million and $40.5 million for the three and nine months ended March 31, 2023, respectively, in cluded in other (expense), net on the consolidated and combined statements of operations.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Benefit for Income Taxes The Company computes its tax provision (benefit) for interim periods by applying the estimated annual effective tax rate (“AETR”) to year-to-date income from operations and adjusting for discrete items arising in that quarter. However, if the Company is unable to make a reliable estimate of its AETR, then the actual effective tax rate for the year-to-date period may be the best estimate. For the three and nine months ended March 31, 2022, the Company computed its tax provision (benefit) using the AETR approach. However, for the nine months ended March 31, 2023, the Company recorded the actual effective tax rate as it was determined that the AETR approach was not the most appropriate estimate to be applied to the year to date pretax (loss) income given small changes in the forecast of pre-tax (loss) income would result in significant changes in the AETR. Income tax benefit was $24.2 million and $2.2 million for the three months ended March 31, 2023 and 2022, respectively, resulting in effective tax rates of 29.5% and 39.9%, respectively. Our income tax benefit was higher in the three months ended March 31, 2023 due to the current year’s change in the Company’s approach to computing its tax provision (benefit) for the interim periods to the actual effective tax rate method. Benefit for income taxes was $68.1 million and $7.4 million for the nine months ended March 31, 2023 and 2022, respectively, resulting in effective tax rates of 33.5% and 32.7%, 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 four-tax year period with fiscal year 2024 as the last year of the adjustment.

Comprehensive Text Block List_2

Comprehensive Text Block List	9 Months Ended
	Mar. 31, 2023
Text Block [Abstract]
Related Party Transactions Disclosure	Related-Party Transactions The Company utilizes some aspects of 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 of the Transaction, the Industrial Software Business was charged for costs directly attributable to the SSE business and OSI Inc. 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 (“TSA”) for the provision of certain transitionary services from Emerson to AspenTech. Pursuant to the TSA, Emerson provides 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 March 31, 2023 and June 30, 2022 include the following: March 31, June 30, 2023 2022 Interest bearing receivables from related parties $ 43,591 $ 16,122 Trade receivables from related parties 407 819 Interest bearing payables to related parties 15,793 2,028 Trade payables to related parties 310 2,083 Allocations and charges from Emerson are as follows: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Corporate costs $ — $ 659 $ — $ 1,750 Information technology 677 249 2,251 1,111 Insurance and other benefits — 200 — 574 Shared services and other 850 2,695 4,745 8,330 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 systematic methods. Before the closing of the Transaction, OSI Inc. and the SSE business 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 AspenTech (the “Commercial Agreement”). Pursuant to the Commercial Agreement as amended from time to time in accordance with the Stockholders 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 Nine Months Ended 2023 2022 2023 2022 Revenue from Emerson affiliates $ 4 $ 661 $ 12 $ 1,670 Purchases from Emerson affiliates 116 1,411 331 6,805 Emerson Share Maintenance Rights Immediately following the closing of the Transaction, 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 ownership interest. No additional shares of common stock, or any other equity securities of AspenTech, were issued by the Company to Emerson subsequent to the closing of the Transaction through March 31, 2023. 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 provides for an aggregate term loan commitment of $630.0 million. Under the terms of the Agreement, the Company will use the proceeds from borrowings under the Agreement to (i) pay in part the cash consideration for funding acquisitions, (ii) consummate certain other loan repayments, (iii) pay the fees and expenses incurred in connection with the Emerson Credit Agreement and (iv) for other working capital and general corporate purposes. Principal outstanding under the Emerson Credit Agreement bears interest at a rate per annum equal to Term SOFR Rate (as such term is defined in Emerson Credit Agreement) plus an amount ranging from 1.25% to 1.75%. The term loan to be made under the Emerson Credit Agreement is unsecured and matures on the fifth anniversary of the date the term loan is funded. The Company is permitted to prepay the term loan in whole or in part upon provision of notice in accordance with the Emerson Credit Agreement. Upon an event of default (as such term is defined in the Emerson Credit Agreement), the loan may become due and payable in full upon provision of notice in accordance with the Agreement. In addition, the Emerson Credit Agreement includes a mandatory prepayment provision if at any time Emerson fails to beneficially own more than 40% of AspenTech common stock for a period of more than 30 consecutive days and Emerson provides us written notice requiring us to prepay the term loan. In such an event, we would have no less than either 30 days or 180 days from the date of such notice, depending upon the circumstances giving rise to the decrease in Emerson’s ownership interest, to prepay the term loan. The Emerson Credit Agreement contains affirmative and negative covenants customary for facilities of this type, including restrictions on incurrence of additional debt, liens, fundamental changes, asset sales, restricted payments and transactions with affiliates. The Agreement also contains financial covenants regarding maintenance as of the end of each fiscal quarter of a maximum leverage ratio of 3.50 to 1.00 and a minimum interest coverage ratio of 2.50 to 1.00. As of March 31, 2023, the Company was in compliance with all the loan covenants.

Segment Information

Segment Information	9 Months Ended
	Mar. 31, 2023
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 Transaction, the Industrial Software Business had two operating and reportable segments: OSI Inc. and the GSS business (subsequently renamed Subsurface Science & Engineering Solutions, or “SSE”, after the Closing Date). 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 now comprised of a single operating and reportable segment. Accordingly, the Company has restated its operating and reportable segment information for the three and nine months ended March 31, 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 Three Months Ended March 31, Nine Months Ended March 31, 2023 2022 2023 2022 Americas $ 115,614 $ 55,104 $ 360,935 $ 167,042 Asia, Middle East and Africa 58,881 15,238 174,595 38,050 Europe 55,383 14,259 188,005 38,299 Total $ 229,878 $ 84,601 $ 723,535 $ 243,391 Americas included revenue in the U.S. of $89.4 million and $48.0 million for the three months ended March 31, 2023 and 2022, respectively, and $289.9 million and $149.1 million for the nine months ended March 31, 2023 and 2022, respectively. Property, Equipment, and Leasehold Improvements, Net March 31, 2023 June 30, 2022 Americas $ 15,614 $ 14,591 Asia, Middle East and Africa 2,004 1,154 Europe 714 1,403 Total $ 18,332 $ 17,148 Property, equipment, and leasehold improvements located in the U.S. were $13.3 million and $13.0 million as of March 31, 2023 and June 30, 2022, respectively.

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Policies)	3 Months Ended
	Mar. 31, 2023
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 are 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 March 31, 2023 and June 30, 2022: March 31, June 30, (Dollars in Thousands) Contract assets $ 870,785 $ 857,065 Contract liabilities (181,967) (164,408) $ 688,818 $ 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 contractual billing schedules. The change in the net contract balance during the nine months ended March 31, 2023 was primarily due to greater revenue recognition as compared to billings. Revenue recognized from the contract liability balance, as of June 30, 2022, was $37.6 million and $114.3 million during the three and nine months ended March 31, 2023, respectively. The Company did not have any customer that accounted for 10 percent or more of the Company’s revenues for the three and nine months ended March 31, 2023 and 2022, respectively. Transaction Price Allocated to Remaining Performance Obligations The following table includes the aggregate amount of the transaction price allocated as of March 31, 2023 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 Total (Dollars in Thousands) License and solutions $ 67,774 $ 144,725 $ 78,046 $ 19,579 $ 5,748 $ 305 $ 316,177 Maintenance 80,308 262,500 179,051 126,822 92,867 60,537 802,085 Services and other 43,488 15,853 4,853 3,008 2,267 3,960 73,429 Total $ 191,570 $ 423,078 $ 261,950 $ 149,409 $ 100,882 $ 64,802 $ 1,191,691 The table below reflects disaggregated revenues by business for the three and nine months ended March 31, 2023 and 2022, respectively. Three Months Ended March 31, Nine Months Ended March 31, 2023 2022 2023 2022 Heritage AspenTech $ 155,481 $ — $ 499,328 $ — SSE 36,854 37,908 99,569 93,077 OSI, Inc. 37,543 46,693 124,638 150,314 Total $ 229,878 $ 84,601 $ 723,535 $ 243,391

Intangible Assets (Policies)

Intangible Assets (Policies)	9 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets Intangible assets consisted of the following as of March 31, 2023 and June 30, 2022: Developed Technology Trademarks Customer Relationships and Backlog Capitalized Software and Other Total (Dollars in Thousands) March 31, 2023: Gross carrying amount $ 1,903,599 $ 464,400 $ 3,082,541 $ 10,313 $ 5,460,853 Less: Accumulated amortization (296,950) (12,708) (361,807) (8,744) (680,209) Net carrying amount $ 1,606,649 $ 451,692 $ 2,720,734 $ 1,569 $ 4,780,644 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 (Policies)

Goodwill (Policies)	9 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill The changes in the carrying amount of goodwill during the nine months ended March 31, 2023 were as follows: Carrying Value (Dollars in Thousands) Balance, June 30, 2022 $ 8,266,809 Goodwill from Inmation acquisition 63,026 Purchase accounting adjustment from Heritage AspenTech acquisition (1,685) Foreign currency translation 60 Balance, March 31, 2023 $ 8,328,210

Revenue from Contracts with C_3

Revenue from Contracts with Customers (Tables)	9 Months Ended
	Mar. 31, 2023
Revenue from Contracts with Customers [Abstract]
Disaggregation of Revenue [Table Text Block]	The table below reflects disaggregated revenues by business for the three and nine months ended March 31, 2023 and 2022, respectively. Three Months Ended March 31, Nine Months Ended March 31, 2023 2022 2023 2022 Heritage AspenTech $ 155,481 $ — $ 499,328 $ — SSE 36,854 37,908 99,569 93,077 OSI, Inc. 37,543 46,693 124,638 150,314 Total $ 229,878 $ 84,601 $ 723,535 $ 243,391
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]	The Company’s contract assets and contract liabilities were as follows as of March 31, 2023 and June 30, 2022: March 31, June 30, (Dollars in Thousands) Contract assets $ 870,785 $ 857,065 Contract liabilities (181,967) (164,408) $ 688,818 $ 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 March 31, 2023 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 Total (Dollars in Thousands) License and solutions $ 67,774 $ 144,725 $ 78,046 $ 19,579 $ 5,748 $ 305 $ 316,177 Maintenance 80,308 262,500 179,051 126,822 92,867 60,537 802,085 Services and other 43,488 15,853 4,853 3,008 2,267 3,960 73,429 Total $ 191,570 $ 423,078 $ 261,950 $ 149,409 $ 100,882 $ 64,802 $ 1,191,691

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Mar. 31, 2023
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 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
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 Nine Months Ended 2023 2022 2023 2022 (Dollars in Thousands) Total revenue $ 229,878 $ 272,354 $ 723,535 $ 738,520 Net (loss) $ (53,483) $ (1,776) $ (121,614) $ (54,682)

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible assets	Intangible assets consisted of the following as of March 31, 2023 and June 30, 2022: Developed Technology Trademarks Customer Relationships and Backlog Capitalized Software and Other Total (Dollars in Thousands) March 31, 2023: Gross carrying amount $ 1,903,599 $ 464,400 $ 3,082,541 $ 10,313 $ 5,460,853 Less: Accumulated amortization (296,950) (12,708) (361,807) (8,744) (680,209) Net carrying amount $ 1,606,649 $ 451,692 $ 2,720,734 $ 1,569 $ 4,780,644 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)	9 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in carrying amount of goodwill by reporting unit	The changes in the carrying amount of goodwill during the nine months ended March 31, 2023 were as follows: Carrying Value (Dollars in Thousands) Balance, June 30, 2022 $ 8,266,809 Goodwill from Inmation acquisition 63,026 Purchase accounting adjustment from Heritage AspenTech acquisition (1,685) Foreign currency translation 60 Balance, March 31, 2023 $ 8,328,210

Fair Value Fair Value (Tables)

Fair Value Fair Value (Tables)	9 Months Ended
	Mar. 31, 2023
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 March 31, 2023 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) March 31, 2023: Cash equivalents $ 2,949 $ — Equity method investments — 2,504 Derivative liabilities — (40,454) June 30, 2022: Cash equivalents $ 2,998 $ — Equity method investments — 1,761

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Mar. 31, 2023
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 and nine months ended March 31, 2023 and 2022 are as follows: Three Months Ended Nine Months Ended 2023 2022 2023 2022 (Dollars in Thousands) Recorded as expenses: Cost of license and solutions $ 832 $ — $ 2,752 $ — Cost of maintenance 427 — 1,462 — Cost of services and other 599 — 1,457 — Selling and marketing 3,695 — 10,886 — Research and development 5,972 — 13,831 — General and administrative 11,318 519 33,632 1,345 Total stock-based compensation $ 22,843 $ 519 $ 64,020 $ 1,345

Net Income Per Share (Tables)

Net Income Per Share (Tables)	9 Months Ended
	Mar. 31, 2023
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 and nine months ended March 31, 2023 and 2022 are as follows: Three Months Ended Nine Months Ended (Dollars and Shares in Thousands, Except per Share Data) 2023 2022 2023 2022 Net (loss) $ (57,635) $ (3,280) $ (135,076) $ (15,242) Basic weighted average shares outstanding 64,796 36,308 64,622 36,308 Dilutive weighted average shares outstanding 64,796 36,308 64,622 36,308 (Loss) per share Basic $ (0.89) $ (0.09) $ (2.09) $ (0.42) Dilutive $ (0.89) $ (0.09) $ (2.09) $ (0.42)
Schedule of employee equity awards excluded from the calculation of dilutive weighted average shares outstanding	Three Months Ended Nine Months Ended 2023 2022 2023 2022 (Shares in Thousands) Employee equity awards 1,441 — 1,367 —

Comprehensive Text Block List (

Comprehensive Text Block List (Tables)	9 Months Ended
	Mar. 31, 2023
Text Block [Abstract]
Restructuring and Related Costs	Allocations and charges from Emerson are as follows: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Corporate costs $ — $ 659 $ — $ 1,750 Information technology 677 249 2,251 1,111 Insurance and other benefits — 200 — 574 Shared services and other 850 2,695 4,745 8,330
Investments in and Advances to Affiliates	Revenue from Emerson are as follows: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Revenue from Emerson affiliates $ 4 $ 661 $ 12 $ 1,670 Purchases from Emerson affiliates 116 1,411 331 6,805
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 March 31, 2023 and June 30, 2022 include the following: March 31, June 30, 2023 2022 Interest bearing receivables from related parties $ 43,591 $ 16,122 Trade receivables from related parties 407 819 Interest bearing payables to related parties 15,793 2,028 Trade payables to related parties 310 2,083

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
Revenue from External Customers by Geographic Areas	Summarized below is information about the Company’s geographic operations: Revenue by Destination Three Months Ended March 31, Nine Months Ended March 31, 2023 2022 2023 2022 Americas $ 115,614 $ 55,104 $ 360,935 $ 167,042 Asia, Middle East and Africa 58,881 15,238 174,595 38,050 Europe 55,383 14,259 188,005 38,299 Total $ 229,878 $ 84,601 $ 723,535 $ 243,391
Property, Plant and Equipment [Table Text Block]	Property, Equipment, and Leasehold Improvements, Net March 31, 2023 June 30, 2022 Americas $ 15,614 $ 14,591 Asia, Middle East and Africa 2,004 1,154 Europe 714 1,403 Total $ 18,332 $ 17,148

Organization and Basis of Prese

Organization and Basis of Presentation (Details) $ in Millions, $ in Millions	3 Months Ended	9 Months Ended
	Mar. 31, 2023 USD ($) countries	Mar. 31, 2023 USD ($) countries	Jul. 27, 2022 AUD ($)	Jul. 27, 2022 USD ($)
Contractors [Abstract]
Number of Countries in which Entity Operates | countries	82	82
Business Combination, Consideration Transferred AUD			$ 900
Business Combination, Consideration Transferred USD				$ 623
Revenue from Contract with Customer, Including Assessed Tax Russia	$ 7.3	$ 34

Revenue from Contracts with C_4

Revenue from Contracts with Customers (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue recognized that was previously deferred	$ 37,600		$ 114,300
Revenue from Contract with Customer, Excluding Assessed Tax	$ 229,878	$ 84,601	$ 723,535	$ 243,391
Concentration risk, number of customers	not	not	not	not
Percentage of net accounts receivable	10%	10%	10%	10%
OSI Inc.
Revenue from Contract with Customer, Excluding Assessed Tax	$ 37,543	$ 46,693	$ 124,638	$ 150,314
SSE
Revenue from Contract with Customer, Excluding Assessed Tax	36,854	37,908	99,569	93,077
Heritage AspenTech
Revenue from Contract with Customer, Excluding Assessed Tax	$ 155,481	$ 0	$ 499,328	$ 0

Revenue from Contracts with C_5

Revenue from Contracts with Customers Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Total revenue	$ 229,878	$ 84,601	$ 723,535	$ 243,391
Term Licenses [Member]
Total revenue	136,292	50,838	446,360	143,544
Maintenance [Member]
Total revenue	$ 77,283	$ 27,313	$ 234,277	$ 78,120

Revenue from Contracts with C_6

Revenue from Contracts with Customers Contract Balances (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 31, 2023	Mar. 31, 2023	Jun. 30, 2022
Revenue recognized that was previously deferred	$ 37,600	$ 114,300
Deferred revenue	(181,967)	(181,967)	$ (164,408)
Net contract assets	688,818	688,818	692,657
Contract assets	$ 870,785	$ 870,785	$ 857,065

Revenue from Contracts with C_7

Revenue from Contracts with Customers Contract Costs (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Mar. 31, 2023	Mar. 31, 2023
Revenue recognized that was previously deferred	$ 37.6	$ 114.3

Revenue from Contracts with C_8

Revenue from Contracts with Customers Transaction Price Allocated to Remaining Performance Obligations (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Transaction Price Allocated to Remaining Performance Obligations, Amount	$ 1,191,691
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01
Transaction Price Allocated to Remaining Performance Obligations, Amount	191,570
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Transaction Price Allocated to Remaining Performance Obligations, Amount	423,078
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Transaction Price Allocated to Remaining Performance Obligations, Amount	261,950
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-07-01
Transaction Price Allocated to Remaining Performance Obligations, Amount	149,409
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-07-01
Transaction Price Allocated to Remaining Performance Obligations, Amount	100,882
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-07-01
Transaction Price Allocated to Remaining Performance Obligations, Amount	64,802
Cost of license and solutions
Transaction Price Allocated to Remaining Performance Obligations, Amount	316,177
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	67,774
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	144,725
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	78,046
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	19,579
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	5,748
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	305
Maintenance [Member]
Transaction Price Allocated to Remaining Performance Obligations, Amount	802,085
Maintenance [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01
Transaction Price Allocated to Remaining Performance Obligations, Amount	80,308
Maintenance [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Transaction Price Allocated to Remaining Performance Obligations, Amount	262,500
Maintenance [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Transaction Price Allocated to Remaining Performance Obligations, Amount	179,051
Maintenance [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-07-01
Transaction Price Allocated to Remaining Performance Obligations, Amount	126,822
Maintenance [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-07-01
Transaction Price Allocated to Remaining Performance Obligations, Amount	92,867
Maintenance [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-07-01
Transaction Price Allocated to Remaining Performance Obligations, Amount	60,537
Services and other
Transaction Price Allocated to Remaining Performance Obligations, Amount	73,429
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	43,488
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	15,853
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	4,853
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	3,008
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	2,267
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	$ 3,960

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) - USD ($) $ in Thousands				3 Months Ended						4 Months Ended	9 Months Ended
	Aug. 29, 2022	May 16, 2022	Oct. 10, 2021	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2022	Mar. 31, 2023	Mar. 31, 2022	Jun. 30, 2022
Business Acquisition [Line Items]
Goodwill				$ 8,328,210							$ 8,328,210		$ 8,266,809
Trademarks				680,209							680,209		316,543
Total revenue				229,878			$ 84,601				723,535	$ 243,391
Net (loss)				(57,635)	$ (66,197)	$ (11,244)	(3,280)	$ (760)	$ (11,202)		(135,076)	(15,242)
Payments to Acquire Businesses, Net of Cash Acquired											72,498	1,065
Business Acquisitions, Purchase Price Allocation, Subsequent Years, Remaining Adjustments				1,700							1,700
Intangible asset amortization expense				121,700							364,200
Business Combination, Consideration Transferred, Net Cash Paid	$ 72,500
Business Acquisition, Pro Forma Revenue				229,878			272,354				723,535	738,520
Business Acquisition, Pro Forma Net Income (Loss)				(53,483)			$ (1,776)				(121,614)	$ (54,682)
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	87,200
Intangible assets	31,500
Goodwill	63,000
Total revenue										$ 2,900
Net (loss)										$ (900)
Business Combination, Consideration Transferred, Cash Paid	78,900
Business Combination, Consideration Transferred, Hold Back	8,300
Business Combination, Consideration Transferred, Cash Acquired	6,400
Inmation Software GmbH | Emerson Electric Co.
Business Acquisition [Line Items]
Business Combination, Consideration Transferred, Exchange of Shares	17,600
Business Combination, Consideration Transferred, Exchange of Shares, After	$ 2,000
Heritage AspenTech
Business Acquisition [Line Items]
Consideration transferred			$ 6,014,000
Intangible assets				4,390,667							4,390,667
Goodwill				7,224,483							7,224,483
Business Acquisition, Percentage of Voting Interests Acquired		45%
Intangible asset amortization expense				99,500							297,400
Heritage AspenTech | Emerson Electric Co.
Business Acquisition [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired		55%
Customer relationships
Business Acquisition [Line Items]
Trademarks				361,807							361,807		144,888
Customer relationships | Inmation Software GmbH
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life	7 years
Patented Technology [Member]
Business Acquisition [Line Items]
Trademarks				296,950							296,950		$ 153,758
Patented Technology [Member] | Inmation Software GmbH
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life	5 years
Patented Technology and Customer Relationships | Inmation Software GmbH
Business Acquisition [Line Items]
Trademarks				$ 3,400							$ 3,400

Acquisitions - Schedule of Reco

Acquisitions - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Jun. 30, 2022
Business Acquisition [Line Items]
Goodwill	$ 8,328,210	$ 8,266,809

Intangible Assets - Schedule of

Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Jun. 30, 2022
Finite-Lived Intangible Assets [Line Items]
Developed Technology	$ 5,460,853	$ 5,429,324
Trademarks	(680,209)	(316,543)
Total	4,780,644	5,112,781
Patented Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Developed Technology	1,903,599	1,882,037
Trademarks	(296,950)	(153,758)
Total	1,606,649	1,728,279
Less: Accumulated amortization
Finite-Lived Intangible Assets [Line Items]
Developed Technology	3,082,541	3,072,738
Trademarks	(361,807)	(144,888)
Total	2,720,734	2,927,850
Trademarks
Finite-Lived Intangible Assets [Line Items]
Developed Technology	464,400	464,400
Trademarks	(12,708)	(9,379)
Total	451,692	455,021
Purchased software
Finite-Lived Intangible Assets [Line Items]
Developed Technology	10,313	10,149
Trademarks	(8,744)	(8,518)
Total	$ 1,569	$ 1,631

Intangible Assets - Narrative (

Intangible Assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Mar. 31, 2023	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible asset amortization expense	$ 121.7	$ 364.2

Goodwill - Goodwill, Net (Detai

Goodwill - Goodwill, Net (Details) $ in Thousands	9 Months Ended
	Mar. 31, 2023 USD ($)
Goodwill:
Balance, June 30, 2022	$ 8,266,809
Goodwill from Inmation acquisition	63,026
Purchase accounting adjustment from Heritage AspenTech acquisition	(1,685)
Foreign currency translation	60
Balance, March 31, 2023	$ 8,328,210

Fair Value (Details)

Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Jun. 30, 2022
Level 1 Inputs
Fair Value
Cash equivalents	$ 2,949	$ 2,998
Equity method investments	0	0
Derivative liabilities	0
Level 2 Inputs
Fair Value
Cash equivalents	0	0
Equity method investments	2,504	$ 1,761
Derivative liabilities	$ (40,454)

Credit Agreement (Details)

Credit Agreement (Details)	9 Months Ended
	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Dec. 23, 2022 USD ($)	Jul. 27, 2022 USD ($)	Jun. 30, 2022 USD ($)	Dec. 23, 2019 USD ($)
Secured Debt [Member]
Credit Agreement
Principal amount						$ 320,000,000
Short-term Debt	$ 0				$ 28,000,000
Maximum leverage ratio	3.50
Minimum interest coverage ratio	2.50
Non-current borrowings, net	$ 0				245,647,000
Bridge Loan				$ 475,000,000
Payments of Debt Issuance Costs	2,375,000	$ 0
Debt Instrument, Fee Amount	$ 50,000
Debt Instrument, Maturity Date	Dec. 23, 2024
Debt Instrument, Frequency of Fee	annum
Emerson Electric Co.
Credit Agreement
Principal amount			$ 630,000,000
Maximum leverage ratio			3.50
Minimum interest coverage ratio			2.50
Revolving Credit Facility [Member]
Credit Agreement
Principal amount						$ 200,000,000
Letters of Credit Outstanding, Amount	$ 0				$ 0

Credit Agreement Schedule of Lo

Credit Agreement Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Jan. 17, 2023	Mar. 31, 2023	Jun. 30, 2022	Dec. 23, 2019
Debt Instrument [Line Items]
Long-term Debt		$ 0	$ 245,647
Short-term Debt		$ 0	$ 28,000
Repayments of Short-Term Debt	$ 264,000
Secured Debt [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount				$ 320,000

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Disclosures (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Stock-based compensation, additional disclosures
Issuance of shares of common stock			$ 31,542	$ 0
Employee stock purchase plan, stock-based compensation	$ 22,843	$ 519	$ 64,020	$ 1,345
Restricted Stock Units
Stock-based compensation, additional disclosures
Weighted average grant-date fair value of RSUs granted			$ 207.71
Performance awards, shares granted			191,570

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock-Based Compensation Accounting (Details)	9 Months Ended
	Mar. 31, 2023 $ / shares shares
Stock Options
Stock-Based Compensation Accounting
Granted (in shares)	187,963
Granted (in dollars per share) | $ / shares	$ 207.65
Restricted Stock Units
Stock-Based Compensation Accounting
Performance awards, shares granted	191,570

Stock-Based Compensation - St_2

Stock-Based Compensation - Stock-Based Compensation Expense and its Classification in the Consolidated Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Recorded as expenses:
Total stock-based compensation	$ 22,843	$ 519	$ 64,020	$ 1,345
Cost of maintenance
Recorded as expenses:
Total stock-based compensation	427	0	1,462	0
Cost of services and other
Recorded as expenses:
Total stock-based compensation	599	0	1,457	0
Selling and marketing
Recorded as expenses:
Total stock-based compensation	3,695	0	10,886	0
Research and development
Recorded as expenses:
Total stock-based compensation	5,972	0	13,831	0
General and administrative
Recorded as expenses:
Total stock-based compensation	11,318	519	33,632	1,345
License and solutions
Recorded as expenses:
Total stock-based compensation	$ 832	$ 0	$ 2,752	$ 0

Stock-Based Compensation - St_3

Stock-Based Compensation - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Aggregate Intrinsic Value
Issuance of shares of common stock	$ 31,542	$ 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 and nine months ended March 31, 2023 and 2022 are as follows: Three Months Ended Nine Months Ended 2023 2022 2023 2022 (Dollars in Thousands) Recorded as expenses: Cost of license and solutions $ 832 $ — $ 2,752 $ — Cost of maintenance 427 — 1,462 — Cost of services and other 599 — 1,457 — Selling and marketing 3,695 — 10,886 — Research and development 5,972 — 13,831 — General and administrative 11,318 519 33,632 1,345 Total stock-based compensation $ 22,843 $ 519 $ 64,020 $ 1,345 During the nine month period ended March 31, 2023, the Company granted 187,963 stock options and 191,570 restricted stock units (“RSUs”). The stock options granted had a weighted average exercise price of $207.65 per option and a weighted average fair value of $77.91 per option. The RSUs granted had a weighted average fair value of $207.71 per RSU.
Stock Options
Stock options activity
Granted (in shares)	187,963
Weighted Average Exercise Price
Granted (in dollars per share)	$ 207.65
Aggregate Intrinsic Value
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested, Weighted Average Grant Date Fair Value	$ 77.91

Stock-Based Compensation - RSU

Stock-Based Compensation - RSU Activity (Details) - Restricted Stock Units	9 Months Ended
	Mar. 31, 2023 $ / shares shares
Restricted stock units activity
Granted (in shares) | shares	191,570
Weighted Average Grant Date Fair Value
Granted (in dollars per share) | $ / shares	$ 207.71

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						9 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Mar. 31, 2023	Mar. 31, 2022
Net (loss)	$ (57,635)	$ (66,197)	$ (11,244)	$ (3,280)	$ (760)	$ (11,202)	$ (135,076)	$ (15,242)
Weighted Average Number of Shares Outstanding, Basic	64,796			36,308			64,622	36,308
Basic	$ (0.89)			$ (0.09)			$ (2.09)	$ (0.42)
Earnings Per Share, Diluted	$ (0.89)			$ (0.09)			$ (2.09)	$ (0.42)
Weighted Average Number of Shares Outstanding, Diluted, Adjustment [Abstract]
Dilutive weighted average shares outstanding	64,796			36,308			64,622	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) - shares	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Employee equity awards were excluded from the calculation of dilutive weighted average shares outstanding because their effect would be anti-dilutive
Employee equity awards (in shares)	1,441	0	1,367	0

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		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Employee equity awards were excluded from the calculation of dilutive weighted average shares outstanding because their effect would be anti-dilutive
Employee equity awards (in shares)	1,441	0	1,367	0

Comprehensive Text Block List_3

Comprehensive Text Block List (Details) $ in Thousands, $ in Millions	3 Months Ended	9 Months Ended
	Mar. 31, 2023 USD ($)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Mar. 31, 2023 AUD ($)
Text Block [Abstract]
Derivative, Notional Amount				$ 900
Unrealized Gain (Loss) on Derivatives	$ (25,100)	$ 40,454	$ 0
Derivative, Fair Value, Net	40,500	40,500
Derivative [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain	10,800	10,821	0
Derivative, Cash Received on Hedge	10,800
Unrealized Gain (Loss) on Derivatives	$ 25,100	$ (40,454)	$ 0

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
(Benefit) for income taxes	$ (24,150)	$ (2,176)	$ (68,132)	$ (7,422)
Effective income tax rate (as a percent)	29.50%	39.90%	33.50%	32.70%
Effective income tax rate (as a percent)	29.50%	39.90%	33.50%	32.70%

Comprehensive Text Block List_4

Comprehensive Text Block List (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Dec. 23, 2022 USD ($)	Jun. 30, 2022 USD ($)	Dec. 23, 2019 USD ($)
Maximum leverage ratio	3.50		3.50
Minimum interest coverage ratio	2.50		2.50
Related Party
Financing Receivable, after Allowance for Credit Loss	$ 43,591		$ 43,591			$ 16,122
Accounts Receivable, after Allowance for Credit Loss	407		407			819
Notes Payable	15,793		15,793			2,028
Accounts Payable	310		310			2,083
Related Party Transaction [Line Items]
Financing Receivable, after Allowance for Credit Loss	43,591		43,591			16,122
Accounts Receivable, after Allowance for Credit Loss	407		407			819
Notes Payable	15,793		15,793			2,028
Accounts Payable	310		310			$ 2,083
Emerson Electric Co.
Text Block [Abstract]
Purchases from Emerson affiliates	116	$ 1,411	331	$ 6,805
Maximum leverage ratio					3.50
Minimum interest coverage ratio					2.50
Principal amount					$ 630,000
Segment revenue	4	661	12	1,670
Related Party Transaction [Line Items]
Purchases from Emerson affiliates	$ 116	1,411	331	6,805
Emerson Electric Co. | Minimum
Variable rate spread (as a percent)	1.25%
Emerson Electric Co. | Maximum
Variable rate spread (as a percent)	1.75%
Secured Debt [Member]
Principal amount							$ 320,000
Corporate costs
Payments of Distributions to Affiliates		659		1,750
Information technology
Payments of Distributions to Affiliates	$ 677	249	2,251	1,111
Insurance and other benefits
Payments of Distributions to Affiliates		200		574
Shared services and other
Payments of Distributions to Affiliates	$ 850	$ 2,695	$ 4,745	$ 8,330

Segment Information - Summary o

Segment Information - Summary of Reportable Segments' Profits (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022	Jun. 30, 2022
Segment Reporting Information [Line Items]
Property, equipment and leasehold improvements, net	$ 18,332		$ 18,332		$ 17,148
Revenue from Contract with Customer, Excluding Assessed Tax	229,878	$ 84,601	723,535	$ 243,391
Americas
Segment Reporting Information [Line Items]
Property, equipment and leasehold improvements, net	15,614		15,614		14,591
Revenue from Contract with Customer, Excluding Assessed Tax	115,614	55,104	360,935	167,042
Asia, Middle East and Africa
Segment Reporting Information [Line Items]
Property, equipment and leasehold improvements, net	2,004		2,004		1,154
Revenue from Contract with Customer, Excluding Assessed Tax	58,881	15,238	174,595	38,050
Europe
Segment Reporting Information [Line Items]
Property, equipment and leasehold improvements, net	714		714		1,403
Revenue from Contract with Customer, Excluding Assessed Tax	55,383	14,259	188,005	38,299
North America
Segment Reporting Information [Line Items]
Property, equipment and leasehold improvements, net	13,300		13,300		$ 13,000
Revenue from Contract with Customer, Excluding Assessed Tax	$ 89,400	$ 48,000	$ 289,900	$ 149,100

Uncategorized Items - azpn-2023

Label	Element	Value
Entity Common Stock, Shares Outstanding	dei_EntityCommonStockSharesOutstanding	64,869,475