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Dec 31, 2023
Aspen Technology Q2 2024 Earnings Report
AspenTech had a solid second quarter with strong demand for its products and solutions.
Key Takeaways
AspenTech's second quarter fiscal year 2024 shows a total revenue of $257.2 million. The company experienced a net loss of $21.5 million, or $0.34 per diluted share, but a non-GAAP net income of $87.8 million, or $1.37 per diluted share. The company is reaffirming its ACV growth target of at least 11.5 percent.
Annual contract value (“ACV”) was $914.1 million at the end of the second quarter of fiscal 2024, increasing 9.6% year over year and 1.8% quarter over quarter.
Cash flow from operations was $29.8 million for the second quarter of fiscal 2024, compared to $49.5 million in the second quarter of fiscal 2023.
Free cash flow was $29.2 million for the second quarter of fiscal 2024, compared to $47.8 million in the second quarter of fiscal 2023.
AspenTech repurchased 375,041 shares for $72.1 million under its $300.0 million share repurchase authorization in the second quarter of fiscal 2024.
Aspen Technology
Aspen Technology
Aspen Technology Revenue by Segment
Revenue by Segment
License and Solutions Revenue
CapyFin.comMaintenance Revenue
CapyFin.comServices and Other Revenue
CapyFin.com Forward Guidance
AspenTech is reaffirming its fiscal 2024 guidance and increasing its Non-GAAP net income per share guidance by $0.02 to reflect the impact of share repurchase activity in the second quarter of fiscal 2024. AspenTech’s fiscal 2024 guidance is as follows.
Positive Outlook
- ACV growth of at least 11.5% year-over-year
- GAAP operating cash flow of at least $378 million
- Free cash flow of at least $360 million
- Total bookings of at least $1.04 billion
- Total revenue of at least $1.12 billion
Challenges Ahead
- GAAP total expense of approximately $1.22 billion
- Non-GAAP total expense of approximately $675 million
- GAAP operating loss at or better than $100 million
- Non-GAAP operating income of at least $445 million
- GAAP net loss at or better than $7 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income