Aspen Technology, Inc. (NASDAQ:AZPN) Q4 2024 Earnings Call August 6, 2024 4:30 PM ET

Company Participants

Brian Denyeau - Investor Relations
Antonio Pietri - President and Chief Executive Officer
Dave Baker - Chief Financial Officer

Conference Call Participants

Rob Oliver - Baird
David Ridley-Lane - Bank of America
Dylan Becker - William Blair
Jason Celino - KeyBanc Capital Markets
Nay Soe Naing - Berenberg
Arsenije Matovic - Wolfe Research

Operator

Good day. Thank you for standing by. Welcome to AspenTech’s Fourth Quarter 2024 Earnings Conference Call. [Operator Instructions] Please note that the conference is being recorded.

I will now hand the conference over your speaker host, Brian Denyeau. Please go ahead.

Brian Denyeau

Thank you, Olivia. Good afternoon, everyone, and thank you for joining us to discuss our financial results for the fourth quarter of fiscal 2024 ending June 30, 2024. With me on the call today are Antonio Pietri, AspenTech’s President and CEO; and Dave Baker, AspenTech’s CFO.

Please note we have posted an earnings presentation on our IR website. This includes an explanation regarding the impact of ASC Topic 606 on our financial results. It also includes definitions of annual contract value, or ACV, bookings and free cash flow, among other metrics. We ask that investors refer to this presentation in conjunction with today’s call.

Starting on Slide 2, I want to take this opportunity to remind you that our remarks today will include forward-looking statements. Actual results may differ materially from those contemplated by these forward-looking statements. Factors that could cause these results to differ materially are set forth in today’s press release and in our annual report on Form 10-K and other subsequent filings made with the SEC. Any forward-looking statements that we make on this call are based on assumptions as of today, and we undertake no obligation to update these statements as a result of new information or future events.

During this presentation, we’ll present both GAAP and certain non-GAAP financial measures. A reconciliation of GAAP to non-GAAP measures is included in today’s earnings press release and investor presentation, both of which are available on our Investor Relations website.

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

Antonio Pietri

Thanks, Brian, and welcome to everyone joining us today. AspenTech delivered a strong fourth quarter to finish fiscal 2024. We achieved these results on the strength of our innovation and focused execution on a solid pipeline of business despite the persistence of a dynamic macro environment and cautious customer spending in some of our end markets. We were also pleased to see the benefits of our efficiency and productivity initiatives in the second half of fiscal 2024 come to fruition, delivering a favorable expense outcome for the full fiscal year.