Aspen Technology, Inc. (NASDAQ:AZPN) Q1 2025 Earnings Conference Call November 4, 2024 4:30 PM ET

Company Participants

Brian Denyeau - IR
Antonio Pietri - President and CEO
Dave Baker - CFO

Conference Call Participants

Dylan Becker - William Blair
Jason Celino - KeyBanc Capital Markets
Mark Schappel - Loop Capital Markets
Rob Oliver - Baird
Clarke Jeffries - Piper Sandler
Arsenije Matovic - Wolfe Research

Operator

Good day and thank you for standing by. Welcome to the Q1 2025 Aspen Technology Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. [Operator Instructions]

I would now like to hand the conference over to your speaker today, Brian Denyeau from ICR.

Brian Denyeau

Thank you, Josh. Good afternoon, everyone, and thank you for joining us to discuss our financial results for the first quarter of fiscal 2025 ending September 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 would like 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

Thank you, Brian. Hello, and good evening, everyone. Thank you for joining us today to discuss our first quarter results for fiscal 2025.

I'd like to start out by addressing our anticipated acquisition of Open Grid Systems announced after market today. The acceleration of renewable generation and the push for electrification are driving more assets onto the electric grid, increasing the complexity of utility operations globally. Around the world, utilities need a single centralized source of truth for electrical network models to provide accurate and complete real-time visibility of grid assets.