The following is a summary of the Aspen Technology, Inc. (AZPN) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Aspen Technology reported a Q3 ACV (Annual Contract Value) of $936 million, indicating an increase of 2.4% quarter-over-quarter and 9.5% year-over-year.

• The company's Free Cash Flow stood at $137 million in Q3.

• The company is adjusting its ACV growth outlook to at least 9.9% in fiscal year 2024 and its fiscal year 2024 Free Cash Flow to at least $340 million.

• Company lowered ACV growth outlook to at least 9.9% for fiscal year 2024 given softer net new ACV in Q3.

Business Progress:

• Aspen Technology held its flagship optimize user conference focusing on sustainability imperative and digitalization.

• Company is investing in areas like Digital Grid Management and its forthcoming Version 14.3 software to feature deep AI integration.

• Aspen is planning to sharpen its strategy for Key Technology pertaining APM to address attrition and aims at strategic customer segments with Mtell technology.

• Expansion initiatives are underway into Europe, Asia Pacific, and the Middle East with an aim to enhance efficiency and productivity.

More details: Aspen Technology IR

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