Aspen Technology, Inc. (AZPN) Q2 2023 Earnings Call Transcript

For the period ending December 31, 2022

January 25, 2023 4:30 p.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good day, and thank you for standing by. Welcome to the Q2 2023 Aspen Technology Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your first speaker today to Brian Denyeau, ICR. Please go ahead.

Brian Denyeau

Thank you. Good afternoon, everyone. Thank you for joining us to discuss our financial results for the second quarter of fiscal 2023 ending December 31, 2022. With me on the call today are Antonio Pietri, AspenTech's President and CEO; Chantelle Breithaupt, AspenTech's CFO.

Before we begin, I will make the safe harbor statement that during the course of this call, we may make projections or other forward-looking statements about the financial performance of the company that involve risks and uncertainties. The company's actual results may differ materially from such projections or statements. Factors that might cause such differences include, but are not limited to, those discussed in today's call as well as those contained in our Form 10-Q, most recently filed with the SEC.

Also please note that the following information relates to our current business conditions and our outlook as of today January 25, 2023. Consistent with our prior practice, we expressly disclaim any obligation to update this information. Please note that we have posted a financial update presentation on the Investor Relations portion of our website.

The structure of today's call will be as follows: Antonio will discuss business highlights from the second quarter, and Chantelle will review our financial results and discuss our guidance for fiscal year 2023.

With that, let me turn the call over to Antonio. Antonio?

Antonio Pietri

Thanks, Brian, and thanks to all of you for joining us today. AspenTech delivered solid second quarter results as we continue to benefit from a positive demand environment in many of our core end markets. We're also seeing clear benefits from the combination of heritage AspenTech with the OSI and SSE businesses that were part of the Emerson Transaction in go-to-market activities, innovation and customer access.

As I mentioned last quarter, our primary focus in the first half of the year was executing on the integration, transformation and change management plans to create unified consistent operating principles and a single business model across the entire organization. We have made substantial progress and believe our initial integration plans are largely complete. And the transformation phase of the OSI and SSE businesses is well underway.