Aspen Financial Statements 2022 - Aspen Pharmacare Annual Report 2022 Pdf

Aspen financial statements 2022 – Aspen pharmacare annual report 2022 pdf

“AspenTech’s half-moon results mirrored a notable improvement in client demand, notably among purification customers. whereas the macro surroundings remains fluid, we tend to still see positive interest from our customers, World Health Organization acknowledge the vital price AspenTech’s solutions will offer in supporting their strategic property and potency investments
“AspenTech’s half-moon results mirrored a notable improvement in client demand, notably among purification customers. whereas the macro surroundings remains fluid, we tend to still see positive interest from our customers, World Health Organization acknowledge the vital price AspenTech’s solutions will offer in supporting their strategic property and potency investments,” same Antonio Pietri, President and Chief officer of AspenTech.
Pietri continued , “The recent announcement of our definitive agreement with Ralph Waldo Emerson electrical could be a transformational moment for North American nation. once the Ralph Waldo Emerson group action, AspenTech are associate industrial code leader with associate expanded product portfolio and broader market reach that may extend our ability to assist customers improve safety, property, responsibility, and potency. we tend to believe this group action can position AspenTech to deliver vital growth and high levels of gain whereas generating near- and long price for our shareholders.”

First Quarter and Fiscal Year 2022 Recent Business Highlights

Annual pay, that the corporate defines because the annualized price of all term license and maintenance contracts at the top of the quarter, was $630 million at the top of the primary quarter of business enterprise 2022, that enlarged five.6% compared to the primary quarter of business enterprise 2021 and one.4% consecutive.
AspenTech repurchased or so one.1 million shares of its stock for $150 million within the half-moon of business enterprise 2022.
Emerson electrical (NYSE: EMR) and AspenTech entered into a definitive agreement to contribute Emerson’s industrial software system businesses – OSI opposition. and therefore the earth science Simulation software system business – to AspenTech (“New AspenTech”).

Summary of First Quarter Fiscal Year 2022 Financial Results

AspenTech’s total revenue of $136.0 million included:

License revenue, which represents the portion of a term license agreement allocated to the initial license, was $81.1 million in the first quarter of fiscal 2022, compared to $61.9 million in the first quarter of fiscal 2021.
Maintenance revenue, which represents the portion of the term license agreement related to ongoing support and the right to future product enhancements, was $48.2 million in the first quarter of fiscal 2022, compared to $46.9 million in the first quarter of fiscal 2021.
Services and other revenue was $6.7 million in the first quarter of fiscal 2022, compared to $6.3 million in the first quarter of fiscal 2021.

For the quarter all over Gregorian calendar month thirty, 2021, AspenTech rumored financial gain from operations of $39.9 million, compared to financial gain from operations of $34.2 million within the half-moon of commercial enterprise a pair of021.

Net income was $39.4 million for the quarter all over Gregorian calendar month thirty, 2021, resulting in profit per share of $0.58, compared to profit per share of $0.48 within the same amount last yr.

Non-GAAP financial gain from operations was $55.4 million for the primary quarter of commercial enterprise 2022, compared to non-GAAP financial gain from operations of $42.7 million within the same amount last yr. Non-GAAP profit was $51.6 million, or $0.77 per share, for the primary quarter of commercial enterprise 2022, compared to non-GAAP profit of $39.5 million, or $0.58 per share, within the same amount last yr. These non-GAAP results add back the impact of stock-based compensation expense, amortization of intangibles and acquisition-related fees. A reconciliation of accumulation to non-GAAP results is given within the money tables enclosed during this handout.

AspenTech had money and money equivalents of $248.0 million and total borrowings, internet of debt supply prices, of $289.4 million at Gregorian calendar month thirty, 2021.

During the primary quarter, the corporate generated $32.7 million in income from operations and $33.0 million in free income. Free income is calculated as internet money provided by in operation activities adjusted for cyber web impact of: purchases of property, instrumentality and demesne improvements; payments for capitalized laptop software system development prices, and alternative nonrecurring things, like acquisition-related payments.

Business Outlook

Based on information as of today, October 27, 2021, AspenTech is issuing the following guidance for fiscal year 2022:

Annual spend growth of 5-7% year-over-year
Free cash flow of $275 to $285 million
Total bookings of $766 to $819 million
Total revenue of $702 to $737 million
GAAP total expense of $389 to $394 million
Non-GAAP total expense of $341 to $346 million
GAAP operating income of $313 to $343 million
Non-GAAP operating income of $361 to $391 million
GAAP net income of $285 to $311 million
Non-GAAP net income of $323 to $349 million
GAAP net income per share of $4.19 to $4.57
Non-GAAP net income per share of $4.75 to $5.13

The above guidance does not give effect to the proposed transaction with Emerson Electric, which, if completed, is expected to close during fiscal 2022. These statements are forward-looking and actual results may differ materially. Refer to the Forward-Looking Statements safe harbor below for information on the factors that could cause AspenTech’s actual results to differ materially from these forward-looking statements.

Use of Non-GAAP Financial Measures

This announcement contains “non-GAAP money measures” below the foundations of the U.S. Securities and Exchange Commission. Non-GAAP money measures don’t seem to be supported a comprehensive set of accounting rules or principles. This non-GAAP info supplements, and isn’t meant to represent a live of performance in accordance with, disclosures needed by typically accepted accounting principles, or GAAP. Non-GAAP money measures ought to be thought-about additionally to, not as a substitute for or superior to, money measures determined in accordance with generally accepted accounting practices. A reconciliation of generally accepted accounting practices to non-GAAP results is enclosed within the money tables enclosed during this announcement.

Management considers each generally accepted accounting practices and non-GAAP money leads to managing AspenTech’s business. because the results of adoption of recent licensing models, management believes that variety of AspenTech’s performance indicators supported generally accepted accounting practices, as well as revenue, net profit, operational financial gain and net, ought to be viewed in conjunction with bound non-GAAP and different business measures in assessing AspenTech’s performance, growth and condition. consequently, management utilizes variety of non-GAAP and different business metrics, as well as the non-GAAP metrics set forth during this announcement, to trace AspenTech’s business performance. None of those non-GAAP metrics ought to be thought-about as an alternate to any live of monetary performance calculated in accordance with generally accepted accounting practices

Conference Call and Webcast

AspenTech will host a conference call and webcast today, October 27, 2021, at 4:30 p.m. (Eastern Time), to discuss the company’s financial results for the first-quarter fiscal year 2022 as well as the company’s business outlook. The live dial-in number is (866) 471-3828 or (678) 509-7573, conference ID code 6994407. Interested parties may also listen to a live webcast of the call by logging on to the Investor Relations section of AspenTech’s website, http://ir.aspentech.com/events-and-presentations, and clicking on the “webcast” link. A replay of the call will be archived on AspenTech’s website and will also be available via telephone at (855) 859-2056 or (404) 537-3406, conference ID code 6994407, through November 3, 2021.

About AspenTech

AspenTech is a global leader in asset optimization software. Its solutions address complex, industrial environments where it is critical to optimize the asset design, operation and maintenance lifecycle. AspenTech uniquely combines decades of process modelling expertise with artificial intelligence. Its purpose-built software platform automates knowledge work and builds sustainable competitive advantage by delivering high returns over the entire asset lifecycle. As a result, companies in capital-intensive industries can maximize uptime and push the limits of performance, running their assets safer, greener, longer and faster. Visit AspenTech.com to find out more.

Forward-Looking Statements

The third paragraph of this promulgation moreover because the Business Outlook section contain advanced statements for functions of the shark repellent provisions of the non-public Securities legal proceeding Reform Act of 1995. advanced statements area unit primarily based upon current plans, estimates and expectations that area unit subject to risks, uncertainties and assumptions. ought to one or a lot of of those risks or uncertainties take place, or ought to underlying assumptions prove incorrect, actual results might vary materially from those indicated or anticipated by such advanced statements. we are able to provide no assurance that such plans, estimates or expectations are going to be achieved and so, actual results might dissent materially from any plans, estimates or expectations in such advanced statements.

Actual results might vary considerably from AspenTech’s expectations supported variety of risks and uncertainties, including, while not limitation: delays or reductions in demand for AspenTech solutions because of the COVID-19 pandemic; AspenTech’s failure to extend usage and products adoption of aspenONE offerings or grow the aspenONE APM business, and failure to still give innovative, market-leading solutions; declines within the demand for, or usage of, aspenONE code for any reason, together with declines because of adverse changes within the method or alternative capital-intensive industries and materially reduced trade disbursal budgets because of the come by demand for oil because of the COVID-19 pandemic; unfavorable economic and market conditions or a decrease demand within the marketplace for plus method optimisation code, together with materially reduced trade disbursal budgets because of the many come by oil costs arising from come by demand because of the COVID-19 pandemic; risks of foreign operations or transacting business with customers outside the United States; risks of competition; and alternative risk factors delineated from time to time in AspenTech’s periodic reports filed with the Securities and Exchange Commission.

The third paragraph of this promulgation conjointly contains advanced statements concerning the unfinished dealings with Emerson, including: statements concerning the expected temporal arrangement and structure of the dealings; the power of the parties to finish the dealings considering the varied closing conditions; the expected edges of the transaction, like improved operations, increased revenues and income, synergies, growth potential, market profile, business plans, expanded portfolio and money strength; the competitive ability and position of latest AspenTech following completion of the transaction; legal, economic and regulative conditions; and any assumptions underlying any of the preceding.

Important factors that would cause actual results to dissent materially from AspenTech’s plans, estimates or expectations concerning the dealings embrace, among others: (1) that one or a lot of closing conditions to the dealings, together with bound regulative approvals, might not be glad or waived, on a timely basis or otherwise, together with that a governmental entity might interdict, delay or refuse to grant approval for the consummation of the dealings, might need conditions, limitations or restrictions in reference to such approvals or that the desired approval by AspenTech’s stockholders might not be obtained; (2) the chance that the dealings might not be completed within the timeframe expected by AspenTech or Emerson, or at all; (3) surprising prices, charges or expenses ensuing from the dealings; (4) uncertainty of the expected money performance of latest AspenTech following completion of the transaction; (5) failure to understand the anticipated edges of the transaction, together with as a results of delay in finishing the dealings or desegregation the economic code business of Emerson with AspenTech’s business; (6) the power of latest AspenTech to implement its business strategy; (7) difficulties and delays in achieving revenue and value synergies of latest AspenTech; (8) inability to retain and rent key personnel; (9) the incidence of any event that would bring about to termination of the dealings; (10) potential legal proceeding in reference to the dealings or alternative settlements or investigations which will have an effect on the temporal arrangement or incidence of the transaction or end in vital prices of defense, indemnification and liability; (11) AspenTech’s ability and therefore the ability of Emerson and New AspenTech to with success live through a disaster or alternative business continuity drawback because of a cyclone, flood, earthquake, terrorism, war, pandemic, security breach, cyber-attack, power loss, telecommunications failure or alternative natural or semisynthetic event, together with the power to perform remotely throughout long disruptions like the COVID-19 pandemic; (12) potential adverse reactions or changes to business relationships ensuing from the announcement or completion of the dealings; (13) the chance that disruptions from the transaction can damage Emerson’s and AspenTech’s business, together with current plans and operations; (14) bound restrictions throughout the pendency of the dealings which will impact Emerson’s or AspenTech’s ability to pursue bound business opportunities or strategic transactions; (15) AspenTech’s, Emerson’s and New AspenTech’s ability to fulfill expectations concerning the accounting and tax treatments of the transaction; and (16) alternative risk factors as elaborate from time to time in Emerson’s and AspenTech’s reports filed with the SEC, together with Emerson’s and AspenTech’s annual report on kind 10-K, periodic quarterly reports on kind 10-Q, periodic current reports on kind 8-K and alternative documents filed with the SEC. whereas the list of things bestowed here is taken into account representative, no such list ought to be thought of to be an entire statement of all potential risks and uncertainties. Unlisted factors might gift vital further obstacles to the belief of advanced statements.

AspenTech cannot guarantee any future results, levels of activity, performance, or achievements. AspenTech expressly disclaims any obligation to update advanced statements once the date of this promulgation.

© 2021 poplar Technology, Inc. AspenTech, aspenONE, plus optimisation and therefore the poplar leaf brand area unit logos of poplar Technology, Inc. All rights reserved. All alternative logos area unit property of their individual house owners. NAMPAK SHARE PRICE

ASPEN TECHNOLOGY, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited in Thousands, Except per Share Data)

	Three Months Ended September 30,
	2021		2020
Revenue:
License	$	81,104	$	61,859
Maintenance	48,213		46,858
Services and other	6,703		6,254
Total revenue	136,020		114,971
Cost of revenue:
License	2,462		2,136
Maintenance	4,562		4,764
Services and other	7,859		8,566
Total cost of revenue	14,883		15,466
Gross profit	121,137		99,505
Operating expenses:
Selling and marketing	29,481		25,172
Research and development	26,857		22,530
General and administrative	24,921		17,633
Total operating expenses	81,259		65,335
Income from operations	39,878		34,170
Interest income	8,664		8,669
Interest (expense)	(1,536)		(2,095)
Other (expense), net	(872)		(1,469)
Income before income taxes	46,134		39,275
Provision for income taxes	6,735		6,564
Net income	$	39,399	$	32,711
Net income per common share:
Basic	$	0.59	$	0.48
Diluted	$	0.58	$	0.48
Weighted average shares outstanding:
Basic	67,001		67,729
Diluted	67,412		68,299

ASPEN TECHNOLOGY, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (Unaudited in Thousands, Except Share and Per Share Data)

	September 30, 2021		June 30, 2021
ASSETS
Current assets:
Cash and cash equivalents	$	247,965	$	379,853
Accounts receivable, net	38,631		52,502
Current contract assets, net	306,008		308,607
Prepaid expenses and other current assets	15,044		12,716
Prepaid income taxes	2,474		14,639
Total current assets	610,122		768,317
Property, equipment and leasehold improvements, net	5,140		5,610
Computer software development costs, net	1,256		1,461
Goodwill	157,241		159,852
Intangible assets, net	41,742		44,327
Non-current contract assets, net	437,838		407,180
Contract costs	29,312		29,056
Operating lease right-of-use assets	31,865		32,539
Deferred tax assets	2,074		2,121
Other non-current assets	3,584		3,537
Total assets	$	1,320,174	$	1,454,000

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	4,087	$	4,367
Accrued expenses and other current liabilities	44,477		50,575
Current operating lease liabilities	7,281		6,751
Income taxes payable	48,304		3,444
Current borrowings	22,000		20,000
Current deferred revenue	53,841		56,393
Total current liabilities	179,990		141,530
Non-current deferred revenue	8,471		11,732
Deferred tax liabilities	139,931		193,360
Non-current operating lease liabilities	28,474		29,699
Non-current borrowings, net	267,365		273,162
Other non-current liabilities	3,697		3,760
Commitments and contingencies (Note 16)
Series D redeemable convertible preferred stock, $0.10 par value— Authorized— 3,636 shares as of September 30, 2021 and June 30, 2021 Issued and outstanding— none as of September 30, 2021 and June 30, 2021	—		—
Stockholders’ equity:
Common stock, $0.10 par value— Authorized—210,000,000 shares Issued— 104,639,940 shares at September 30, 2021 and 104,543,414 shares at June 30, 2021 Outstanding— 66,942,492 shares at September 30, 2021 and 67,912,160 shares at June 30, 2021	10,465		10,455
Additional paid-in capital	825,780		819,642
Retained earnings	1,817,532		1,778,133
Accumulated other comprehensive income	4,968		9,026
Treasury stock, at cost—37,697,448 shares of common stock at September 30, 2021 and 36,631,254 shares at June 30, 2021	(1,966,499)		(1,816,499)
Total stockholders’ equity	692,246		800,757
Total liabilities and stockholders’ equity	$	1,320,174	$	1,454,000

ASPEN TECHNOLOGY, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited in Thousands)

	Three Months Ended September 30,
	2021		2020
Cash flows from operating activities:
Net income	$	39,399	$	32,711
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	2,783		2,334
Reduction in the carrying amount of right-of-use assets	2,466		2,365
Net foreign currency losses	751		1,463
Stock-based compensation	10,090		6,268
Deferred income taxes	(53,352)		41
Provision for bad debts	1,082		3,120
Other non-cash operating activities	331		202
Changes in assets and liabilities:
Accounts receivable	12,190		2,243
Contract assets, net	(29,554)		(7,366)
Contract costs	(256)		284
Lease liabilities	(2,561)		(2,663)
Prepaid expenses, prepaid income taxes, and other assets	9,790		(1,900)
Accounts payable, accrued expenses, income taxes payable and other liabilities	44,386		(5,505)
Deferred revenue	(4,858)		2,854
Net cash provided by operating activities	32,687		36,451
Cash flows from investing activities:
Purchases of property, equipment and leasehold improvements	(253)		(177)
Payments for equity method investments	(350)		(334)
Payments for capitalized computer software development costs	(178)		(806)
Net cash used in investing activities	(781)		(1,317)
Cash flows from financing activities:
Issuance of shares of common stock	1,391		268
Repurchases of common stock	(154,353)		—
Payments of tax withholding obligations related to restricted stock	(6,053)		(1,828)
Deferred business acquisition payments	(10)		—
Repayments of amounts borrowed	(4,000)		(4,000)
Net cash used in financing activities	(163,025)		(5,560)
Effect of exchange rate changes on cash and cash equivalents	(558)		228
(Decrease) Increase in cash and cash equivalents	(131,677)		29,802
Cash and cash equivalents, beginning of period	379,853		287,796
Cash, cash equivalents, and restricted cash, end of period	$	248,176	$	317,598
Supplemental disclosure of cash flow information:
Income taxes paid, net	$	2,818	$	2,703
Interest paid	1,333		2,121
Supplemental disclosure of non-cash activities:
Change in purchases of property, equipment and leasehold improvements included in accounts payable and accrued expenses	$	(118)	$	281
Change in repurchases of common stock included in accounts payable and accrued expenses	(4,353)		—
Lease liabilities arising from obtaining right-of-use assets	1,463		223

	September 30, 2021		September 30, 2020
Reconciliation to amounts within the unaudited consolidated balance sheets:	(Dollars in Thousands)
Cash and cash equivalents	$	247,965	$	317,511
Restricted cash included in other non-current assets	211		87
Cash, cash equivalents, and restricted cash, end of period	$	248,176	$	317,598

ASPEN TECHNOLOGY, INC. AND SUBSIDIARIES Reconciliation of GAAP to Non-GAAP Results of Operations and Cash Flows (Unaudited in Thousands, Except per Share Data)

	Three Months Ended September 30,
	2021		2020
Total expenses
GAAP total expenses (a)	$	96,142	$	80,801
Less:
Stock-based compensation (b)	(10,090)		(6,268)
Amortization of intangibles	(2,044)		(1,745)
Acquisition related fees	(3,356)		(563)

Non-GAAP total expenses	$	80,652	$	72,225

Income from operations
GAAP income from operations	$	39,878	$	34,170
Plus:
Stock-based compensation (b)	10,090		6,268
Amortization of intangibles	2,044		1,745
Acquisition related fees	3,356		563

Non-GAAP income from operations	$	55,368	$	42,746

Net income
GAAP net income	$	39,399	$	32,711
Plus:
Stock-based compensation (b)	10,090		6,268
Amortization of intangibles	2,044		1,745
Acquisition related fees	3,356		563
Less:
Income tax effect on Non-GAAP items (c)	(3,253)		(1,801)

Non-GAAP net income	$	51,636	$	39,486

Diluted income per share
GAAP diluted income per share	$	0.58	$	0.48
Plus:
Stock-based compensation (b)	0.15		0.09
Amortization of intangibles	0.04		0.03
Acquisition related fees	0.05		0.01
Less:
Income tax effect on Non-GAAP items (c)	(0.05)		(0.03)

Non-GAAP diluted income per share	$	0.77	$	0.58

Shares used in computing Non-GAAP diluted income per share	67,412		68,299


	Three Months Ended September 30,
	2021		2020
Free Cash Flow
Net cash provided by operating activities (GAAP)	$	32,687	$	36,451
Purchases of property, equipment and leasehold improvements	(253)		(177)
Payments for capitalized computer software development costs	(178)		(806)
Acquisition related payments	777		291
Free cash flow (non-GAAP)	$	33,033	$	35,759

(a) GAAP total expenses
	Three Months Ended September 30,
	2021		2020
Total costs of revenue	$	14,883	$	15,466
Total operating expenses	81,259		65,335
GAAP total expenses	$	96,142	$	80,801

(b) Stock-based compensation expense was as follows:
	Three Months Ended September 30,
	2021		2020
Cost of maintenance	$	205	$	316
Cost of services and other	280		450
Selling and marketing	1,863		1,244
Research and development	1,998		1,722
General and administrative	5,744		2,536
Total stock-based compensation	$	10,090	$	6,268

(c) The income tax effect on non-GAAP items for the three months ended September 30, 2021 and 2020, respectively, is calculated utilizing the Company’s statutory tax rate of 21 percent.

ASPEN TECHNOLOGY, INC. AND SUBSIDIARIES Reconciliation of Forward-Looking Guidance Range (Unaudited in Thousands, Except per Share Data)

	Twelve Months Ended June 30, 2022 (a)
	Range
	Low				High
Guidance – Total expenses
GAAP – total expenses	$	389,000			$	394,000
Less:
Stock-based compensation	(36,000)				(36,000)
Amortization of intangibles	(9,000)				(9,000)
Acquisition related fees	(3,000)				(3,000)

Non-GAAP – total expenses	$	341,000			$	346,000

Guidance – Income from operations
GAAP – income from operations	$	313,000			$	343,000
Plus:
Stock-based compensation	36,000				36,000
Amortization of intangibles	9,000				9,000
Acquisition related fees	3,000				3,000

Non-GAAP – income from operations	$	361,000			$	391,000

Guidance – Net income and diluted income per share
GAAP – net income and diluted income per share	$	285,000	$	4.19	$	311,000	$	4.57
Plus:
Stock-based compensation	36,000				36,000
Amortization of intangibles	9,000				9,000
Acquisition related fees	3,000				3,000
Less:
Income tax effect on Non-GAAP items (a)	(10,000)				(10,000)

Non-GAAP – net income and diluted income per share	$	323,000	$	4.75	$	349,000	$	5.13

Shares used in computing guidance for Non-GAAP diluted income per share	68,000				68,000

Guidance – Free Cash Flow
GAAP – Net cash provided by operating activities	$	278,000			$	288,000
Less:
Purchases of property, equipment and leasehold improvements	(3,000)				(3,000)
Payments for capitalized computer software development costs	(800)				(800)
Plus:
Acquisition related payments	800				800

Free cash flow expectation (non-GAAP)	$	275,000			$	285,000

(a) Rounded amount used, except per share data.

(b) The income tax effect on non-GAAP items for the twelve months ended June 30, 2022 is calculated utilizing the Company’s statutory tax rate of 21 percent.

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Aspen financial statements 2022 – Aspen pharmacare annual report 2022 pdf