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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.
Revenue by Segment
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
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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