Aspen Technology Q3 2024 Earnings Report
Key Takeaways
Aspen Technology reported a total revenue of $278.1 million for Q3 fiscal year 2024. The company's net income was $1.6 million, or $0.02 per diluted share, while non-GAAP net income was $108.7 million, or $1.70 per diluted share. ACV reached $936.1 million, representing a 9.5% year-over-year increase.
ACV was $936.1 million at the end of the third quarter of fiscal 2024, increasing 9.5% year over year and 2.4% quarter over quarter.
Cash flow from operations was $138.1 million for the third quarter of fiscal 2024, compared to $131.0 million in the third quarter of fiscal 2023.
Free cash flow was $137.0 million for the third quarter of fiscal 2024, compared to $129.3 million in the third quarter of fiscal 2023.
AspenTech repurchased 288,241 shares for $56.7 million under its share repurchase authorization.
Aspen Technology
Aspen Technology
Aspen Technology Revenue by Segment
Forward Guidance
AspenTech is updating its fiscal 2024 guidance with total revenue of at least $1.10 billion and ACV growth of at least 9.0% year-over-year.
Positive Outlook
- ACV growth of at least 9.0% year-over-year
- GAAP operating cash flow of at least $349 million
- Free cash flow of at least $340 million
- Total bookings of at least $1.03 billion
- Total revenue of at least $1.10 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 $121 million
- Non-GAAP operating income of at least $425 million
- GAAP net loss at or better than $29 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income