Delaware | 04-2739697 | |||||||
(State or other jurisdiction of incorporation or
organization) |
(I.R.S. Employer Identification No.) |
20 Crosby Drive | ||||||||
Bedford | ||||||||
Massachusetts | 01730 | |||||||
(Address of principal executive offices) | (Zip Code) |
Securities registered pursuant to Section 12(b) of the Act: | ||||||||||||||
Title of Each Class | Trading Symbol | Name of Each Exchange on Which Registered | ||||||||||||
Common stock, $0.10 par value per share | AZPN | NASDAQ Global Select Market |
Large accelerated filer | ý |
Accelerated filer o
|
|||||||||||||||
Non-accelerated filer o
|
Smaller reporting company | ☐ | |||||||||||||||
Emerging growth company | ☐ |
Page | ||||||||
Three Months Ended
March 31, |
Nine Months Ended
March 31, |
||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
(Dollars in Thousands, Except per Share Data) | |||||||||||||||||||||||
Revenue: | |||||||||||||||||||||||
License | $ | 110,104 | $ | 78,156 | $ | 352,133 | $ | 238,311 | |||||||||||||||
Maintenance | 45,885 | 44,199 | 139,561 | 132,418 | |||||||||||||||||||
Services and other | 6,737 | 8,233 | 19,721 | 26,048 | |||||||||||||||||||
Total revenue | 162,726 | 130,588 | 511,415 | 396,777 | |||||||||||||||||||
Cost of revenue: | |||||||||||||||||||||||
License | 2,485 | 1,881 | 6,859 | 5,550 | |||||||||||||||||||
Maintenance | 5,174 | 4,778 | 14,066 | 14,339 | |||||||||||||||||||
Services and other | 8,396 | 9,046 | 24,911 | 26,560 | |||||||||||||||||||
Total cost of revenue | 16,055 | 15,705 | 45,836 | 46,449 | |||||||||||||||||||
Gross profit | 146,671 | 114,883 | 465,579 | 350,328 | |||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||
Selling and marketing | 30,345 | 28,354 | 82,092 | 86,046 | |||||||||||||||||||
Research and development | 25,874 | 23,576 | 70,576 | 68,694 | |||||||||||||||||||
General and administrative | 21,553 | 18,219 | 60,389 | 54,525 | |||||||||||||||||||
Total operating expenses | 77,772 | 70,149 | 213,057 | 209,265 | |||||||||||||||||||
Income from operations | 68,899 | 44,734 | 252,522 | 141,063 | |||||||||||||||||||
Interest income | 8,410 | 8,173 | 26,383 | 24,577 | |||||||||||||||||||
Interest (expense) | (1,495) | (3,207) | (5,639) | (9,368) | |||||||||||||||||||
Other (expense), net | (5) | (352) | (1,807) | (217) | |||||||||||||||||||
Income before income taxes | 75,809 | 49,348 | 271,459 | 156,055 | |||||||||||||||||||
Provision for income taxes | 13,314 | 7,522 | 47,101 | 20,914 | |||||||||||||||||||
Net income | $ | 62,495 | $ | 41,826 | $ | 224,358 | $ | 135,141 | |||||||||||||||
Net income per common share: | |||||||||||||||||||||||
Basic | $ | 0.92 | $ | 0.62 | $ | 3.31 | $ | 1.98 | |||||||||||||||
Diluted | $ | 0.91 | $ | 0.61 | $ | 3.28 | $ | 1.96 | |||||||||||||||
Weighted average shares outstanding: | |||||||||||||||||||||||
Basic | 67,920 | 67,806 | 67,809 | 68,122 | |||||||||||||||||||
Diluted | 68,608 | 68,482 | 68,439 | 68,906 |
Three Months Ended
March 31, |
Nine Months Ended
March 31, |
||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||
Net income | $ | 62,495 | $ | 41,826 | $ | 224,358 | $ | 135,141 | |||||||||||||||
Other comprehensive income (loss): | |||||||||||||||||||||||
Foreign currency translation adjustments | 396 | (8,265) | 11,815 | (7,628) | |||||||||||||||||||
Total other comprehensive income (loss) | 396 | (8,265) | 11,815 | (7,628) | |||||||||||||||||||
Comprehensive income | $ | 62,891 | $ | 33,561 | $ | 236,173 | $ | 127,513 |
Common Stock | Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Treasury Stock | Total Stockholders' Equity | ||||||||||||||||||||||||||||||||||||||||||
Number of Shares | $0.10 Par Value | Number of Shares | Cost | ||||||||||||||||||||||||||||||||||||||||||||
(Dollars in Thousands, Except Share Data) | |||||||||||||||||||||||||||||||||||||||||||||||
Balance June 30, 2020 | 103,988,707 | $ | 10,399 | $ | 769,411 | $ | 1,458,330 | $ | (5,288) | 36,270,015 | $ | (1,766,499) | $ | 466,353 | |||||||||||||||||||||||||||||||||
Comprehensive income: | |||||||||||||||||||||||||||||||||||||||||||||||
Net income | — | — | — | 32,711 | — | — | — | 32,711 | |||||||||||||||||||||||||||||||||||||||
Other comprehensive income | — | — | — | — | 4,153 | 4,153 | |||||||||||||||||||||||||||||||||||||||||
Issuance of shares of common stock | 12,943 | 1 | 314 | — | — | — | 315 | ||||||||||||||||||||||||||||||||||||||||
Issuance of restricted stock units and net share settlement related to withholding taxes | 26,265 | 3 | (1,761) | — | — | — | — | (1,758) | |||||||||||||||||||||||||||||||||||||||
Stock-based compensation | — | — | 6,268 | — | — | — | — | 6,268 | |||||||||||||||||||||||||||||||||||||||
Balance September 30, 2020 | 104,027,915 | $ | 10,403 | $ | 774,232 | $ | 1,491,041 | $ | (1,135) | 36,270,015 | $ | (1,766,499) | $ | 508,042 | |||||||||||||||||||||||||||||||||
Comprehensive income: | |||||||||||||||||||||||||||||||||||||||||||||||
Net income | — | — | — | 129,152 | — | — | — | 129,152 | |||||||||||||||||||||||||||||||||||||||
Other comprehensive income | — | — | — | — | 7,266 | 7,266 | |||||||||||||||||||||||||||||||||||||||||
Issuance of shares of common stock | 34,681 | 3 | 2,843 | — | — | — | 2,846 | ||||||||||||||||||||||||||||||||||||||||
Issuance of restricted stock units and net share settlement related to withholding taxes | 37,236 | 4 | (2,274) | — | — | — | — | (2,270) | |||||||||||||||||||||||||||||||||||||||
Stock-based compensation | — | — | 9,096 | — | — | — | — | 9,096 | |||||||||||||||||||||||||||||||||||||||
Balance December 31, 2020 | 104,099,832 | $ | 10,410 | $ | 783,897 | $ | 1,620,193 | $ | 6,131 | 36,270,015 | $ | (1,766,499) | $ | 654,132 | |||||||||||||||||||||||||||||||||
Comprehensive income: | |||||||||||||||||||||||||||||||||||||||||||||||
Net income | — | — | — | 62,495 | — | — | — | 62,495 | |||||||||||||||||||||||||||||||||||||||
Other comprehensive income | — | — | — | — | 396 | 396 | |||||||||||||||||||||||||||||||||||||||||
Issuance of shares of common stock | 148,541 | 15 | 9,233 | — | — | — | 9,248 | ||||||||||||||||||||||||||||||||||||||||
Issuance of restricted stock units and net share settlement related to withholding taxes | 35,584 | 4 | (2,612) | — | — | — | — | (2,608) | |||||||||||||||||||||||||||||||||||||||
Stock-based compensation | — | — | 9,225 | — | — | — | — | 9,225 | |||||||||||||||||||||||||||||||||||||||
Balance March 31, 2021 | 104,283,957 | $ | 10,429 | $ | 799,743 | $ | 1,682,688 | $ | 6,527 | 36,270,015 | $ | (1,766,499) | $ | 732,888 |
Common Stock | Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Treasury Stock | Total Stockholders' Equity | ||||||||||||||||||||||||||||||||||||||||||
Number of Shares | $0.10 Par Value | Number of Shares | Cost | ||||||||||||||||||||||||||||||||||||||||||||
(Dollars in Thousands, Except Share Data) | |||||||||||||||||||||||||||||||||||||||||||||||
Balance June 30, 2019 | 103,642,292 | $ | 10,365 | $ | 739,099 | $ | 1,228,659 | $ | 336 | 35,017,726 | $ | (1,616,499) | $ | 361,960 | |||||||||||||||||||||||||||||||||
Comprehensive income: | |||||||||||||||||||||||||||||||||||||||||||||||
Net income | — | — | — | 53,514 | — | — | — | 53,514 | |||||||||||||||||||||||||||||||||||||||
Other comprehensive (loss) | — | — | — | — | (3,102) | (3,102) | |||||||||||||||||||||||||||||||||||||||||
Issuance of shares of common stock | 17,783 | 2 | 933 | — | — | — | 935 | ||||||||||||||||||||||||||||||||||||||||
Issuance of restricted stock units and net share settlement related to withholding taxes | 57,451 | 5 | (3,399) | — | — | — | — | (3,394) | |||||||||||||||||||||||||||||||||||||||
Repurchase of common stock | — | — | — | — | — | 382,279 | (50,000) | (50,000) | |||||||||||||||||||||||||||||||||||||||
Stock-based compensation | — | — | 9,275 | — | — | — | — | 9,275 | |||||||||||||||||||||||||||||||||||||||
Balance September 30, 2019 | 103,717,526 | $ | 10,372 | $ | 745,908 | $ | 1,282,173 | $ | (2,766) | 35,400,005 | $ | (1,666,499) | $ | 369,188 | |||||||||||||||||||||||||||||||||
Comprehensive income: | |||||||||||||||||||||||||||||||||||||||||||||||
Net income | — | — | — | 39,801 | — | — | — | 39,801 | |||||||||||||||||||||||||||||||||||||||
Other comprehensive income | — | — | — | — | 3,739 | 3,739 | |||||||||||||||||||||||||||||||||||||||||
Issuance of shares of common stock | 31,857 | 3 | 1,938 | — | — | — | 1,941 | ||||||||||||||||||||||||||||||||||||||||
Issuance of restricted stock units and net share settlement related to withholding taxes | 39,155 | 4 | (2,623) | — | — | — | — | (2,619) | |||||||||||||||||||||||||||||||||||||||
Repurchase of common stock | — | — | — | — | — | 418,019 | (50,000) | (50,000) | |||||||||||||||||||||||||||||||||||||||
Stock-based compensation | — | — | 7,559 | — | — | — | — | 7,559 | |||||||||||||||||||||||||||||||||||||||
Balance December 31, 2019 | 103,788,538 | $ | 10,379 | $ | 752,782 | $ | 1,321,974 | $ | 973 | 35,818,024 | $ | (1,716,499) | $ | 369,609 | |||||||||||||||||||||||||||||||||
Comprehensive income: | |||||||||||||||||||||||||||||||||||||||||||||||
Net income | — | — | — | 41,826 | — | — | — | 41,826 | |||||||||||||||||||||||||||||||||||||||
Other comprehensive (loss) | — | — | — | — | (8,265) | (8,265) | |||||||||||||||||||||||||||||||||||||||||
Issuance of shares of common stock | 42,085 | 4 | 2,343 | — | — | — | 2,347 | ||||||||||||||||||||||||||||||||||||||||
Issuance of restricted stock units and net share settlement related to withholding taxes | 38,281 | 4 | (1,970) | — | — | — | — | (1,966) | |||||||||||||||||||||||||||||||||||||||
Repurchase of common stock | — | — | — | — | — | 451,991 | (50,000) | (50,000) | |||||||||||||||||||||||||||||||||||||||
Stock-based compensation | — | — | 7,299 | — | — | — | — | 7,299 | |||||||||||||||||||||||||||||||||||||||
Balance March 31, 2020 | 103,868,904 | $ | 10,387 | $ | 760,454 | $ | 1,363,800 | $ | (7,292) | 36,270,015 | $ | (1,766,499) | $ | 360,850 |
Nine Months Ended
March 31, |
|||||||||||
2021 | 2020 | ||||||||||
(Dollars in Thousands) | |||||||||||
Cash flows from operating activities: | |||||||||||
Net income | $ | 224,358 | $ | 135,141 | |||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Depreciation and amortization | 7,545 | 7,028 | |||||||||
Reduction in the carrying amount of right-of-use assets | 7,037 | 6,518 | |||||||||
Net foreign currency losses | 2,027 | 183 | |||||||||
Stock-based compensation | 24,589 | 24,133 | |||||||||
Deferred income taxes | 7,029 | (1,516) | |||||||||
Provision for bad debts | 6,800 | 3,391 | |||||||||
Other non-cash operating activities | 718 | 423 | |||||||||
Changes in assets and liabilities: | |||||||||||
Accounts receivable | 4,115 | (16,428) | |||||||||
Contract assets, net | (103,538) | 2,329 | |||||||||
Contract costs | 198 | (1,522) | |||||||||
Lease liabilities | (7,533) | (6,840) | |||||||||
Prepaid expenses, prepaid income taxes, and other assets | (6,959) | (2,201) | |||||||||
Accounts payable, accrued expenses, income taxes payable and other liabilities | (6,847) | (20,752) | |||||||||
Deferred revenue | 13,410 | 13,701 | |||||||||
Net cash provided by operating activities | 172,949 | 143,588 | |||||||||
Cash flows from investing activities: | |||||||||||
Purchases of property, equipment and leasehold improvements | (733) | (1,111) | |||||||||
Payments for business acquisitions, net of cash acquired | (16,272) | (74,460) | |||||||||
Payments for equity method investments | (926) | (319) | |||||||||
Payments for capitalized computer software development costs | (895) | (141) | |||||||||
Net cash used in investing activities | (18,826) | (76,031) | |||||||||
Cash flows from financing activities: | |||||||||||
Issuance of shares of common stock | 12,508 | 5,364 | |||||||||
Repurchases of common stock | — | (150,621) | |||||||||
Payments of tax withholding obligations related to restricted stock | (6,719) | (8,246) | |||||||||
Deferred business acquisition payments | — | (4,600) | |||||||||
Proceeds from revolving credit facility, net of repayments | (119,182) | 219,163 | |||||||||
Repayments of amounts borrowed under term loan | (12,000) | (4,000) | |||||||||
Payments of debt issuance costs | — | (3,533) | |||||||||
Net cash provided by (used in) financing activities | (125,393) | 53,527 | |||||||||
Effect of exchange rate changes on cash and cash equivalents | 573 | (838) | |||||||||
Increase in cash and cash equivalents | 29,303 | 120,246 | |||||||||
Cash and cash equivalents, beginning of period | 287,796 | 71,926 | |||||||||
Cash and cash equivalents, end of period | $ | 317,099 | $ | 192,172 | |||||||
Supplemental disclosure of cash flow information: | |||||||||||
Income taxes paid, net | $ | 49,349 | $ | 26,359 | |||||||
Interest paid | 5,672 | 8,246 | |||||||||
Supplemental disclosure of non-cash activities: | |||||||||||
Change in purchases of property, equipment and leasehold improvements included in accounts payable and accrued expenses | $ | 77 | $ | (89) | |||||||
Change in repurchases of common stock included in accounts payable and accrued expenses | — | (621) | |||||||||
Lease liabilities arising from obtaining right-of-use assets | 1,488 | 11,626 |
Three Months Ended
March 31, |
Nine Months Ended
March 31, |
||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||
Revenue by region: | |||||||||||||||||||||||
North America | $ | 66,786 | $ | 58,826 | $ | 225,620 | $ | 170,643 | |||||||||||||||
Europe | 47,581 | 27,331 | 158,771 | 98,077 | |||||||||||||||||||
Other (1) | 48,359 | 44,431 | 127,024 | 128,057 | |||||||||||||||||||
$ | 162,726 | $ | 130,588 | $ | 511,415 | $ | 396,777 | ||||||||||||||||
Revenue by type of performance obligation: | |||||||||||||||||||||||
Term licenses | $ | 110,104 | $ | 78,156 | $ | 352,133 | $ | 238,311 | |||||||||||||||
Maintenance | 45,885 | 44,199 | 139,561 | 132,418 | |||||||||||||||||||
Professional services and other | 6,737 | 8,233 | 19,721 | 26,048 | |||||||||||||||||||
$ | 162,726 | $ | 130,588 | $ | 511,415 | $ | 396,777 | ||||||||||||||||
Revenue by segment: | |||||||||||||||||||||||
Subscription and software | $ | 155,989 | $ | 122,355 | $ | 491,694 | $ | 370,729 | |||||||||||||||
Services and other | 6,737 | 8,233 | 19,721 | 26,048 | |||||||||||||||||||
$ | 162,726 | $ | 130,588 | $ | 511,415 | $ | 396,777 |
June 30, 2020 | Provision | Write-Offs, Recoveries, and Billings | March 31, 2021 | |||||||||||||||||
(Dollars in Thousands) | ||||||||||||||||||||
$ | (2,947) | $ | (7,091) | $ | 4,812 | $ | (5,226) |
March 31,
2021 |
June 30,
2020 |
||||||||||
(Dollars in Thousands) | |||||||||||
Contract assets, net | $ | 707,845 | $ | 610,473 | |||||||
Deferred revenue | (66,265) | (57,081) | |||||||||
$ | 641,580 | $ | 553,392 |
Year Ended June 30, | |||||||||||||||||||||||||||||||||||
2021 | 2022 | 2023 | 2024 | 2025 | Thereafter | ||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||||
License | $ | 40,583 | $ | 24,011 | $ | 12,507 | $ | 5,338 | $ | 4,837 | $ | 1,314 | |||||||||||||||||||||||
Maintenance | 46,934 | 161,498 | 124,719 | 92,787 | 60,672 | 28,175 | |||||||||||||||||||||||||||||
Services and other | 38,717 | 8,200 | 968 | 491 | 301 | 261 |
Three Months Ended
March 31, |
Nine Months Ended
March 31, |
||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
(Dollars in Thousands) | (Dollars in Thousands) | ||||||||||||||||||||||
Operating lease costs (1)
|
$ | 2,514 | $ | 2,443 | $ | 7,411 | $ | 7,012 | |||||||||||||||
Total lease costs | $ | 2,514 | $ | 2,443 | $ | 7,411 | $ | 7,012 |
March 31,
2021 |
June 30,
2020 |
||||||||||
Weighted average remaining lease term | 5.1 years | 5.7 years | |||||||||
Weighted average discount rate | 4.3 | % | 4.4 | % |
March 31,
2021 |
June 30,
2020 |
||||||||||
(Dollars in Thousands) | |||||||||||
Year Ending June 30, | |||||||||||
2021 | $ | 1,462 | $ | 8,477 | |||||||
2022 | 9,597 | 8,784 | |||||||||
2023 | 8,827 | 8,167 | |||||||||
2024 | 7,648 | 7,516 | |||||||||
2025 | 5,574 | 5,481 | |||||||||
Thereafter | 7,767 | 7,370 | |||||||||
Total lease payments | 40,875 | 45,795 | |||||||||
Less: imputed interest | (4,767) | (5,883) | |||||||||
$ | 36,108 | $ | 39,912 |
Fair Value Measurements at Reporting Date Using,
|
|||||||||||
Quoted Prices in Active Markets for Identical Assets
(Level 1 Inputs)
|
Significant Other Observable Inputs
(Level 2 Inputs)
|
||||||||||
(Dollars in Thousands) | |||||||||||
March 31, 2021: | |||||||||||
Cash equivalents | $ | 1,020 | $ | — | |||||||
Equity method investments | — | 1,207 | |||||||||
June 30, 2020: | |||||||||||
Cash equivalents | $ | 1,020 | $ | — | |||||||
Equity method investments | — | 342 |
March 31,
2021 |
June 30,
2020 |
||||||||||
(Dollars in Thousands) | |||||||||||
Accounts receivable, gross | $ | 56,922 | $ | 62,925 | |||||||
Allowance for doubtful accounts | (7,888) | (6,624) | |||||||||
Accounts receivable, net | $ | 49,034 | $ | 56,301 |
March 31,
2021 |
June 30,
2020 |
||||||||||
(Dollars in Thousands) | |||||||||||
Property, equipment and leasehold improvements, at cost: | |||||||||||
Computer equipment | $ | 7,163 | $ | 6,958 | |||||||
Purchased software | 22,617 | 22,534 | |||||||||
Furniture & fixtures | 7,314 | 6,971 | |||||||||
Leasehold improvements | 12,790 | 12,424 | |||||||||
Property, equipment and leasehold improvements, at cost | 49,884 | 48,887 | |||||||||
Accumulated depreciation | (44,378) | (42,924) | |||||||||
Property, equipment and leasehold improvements, net | $ | 5,506 | $ | 5,963 |
Amount | |||||
(Dollars in Thousands) | |||||
Tangible assets acquired, net | $ | 877 | |||
Identifiable intangible assets: | |||||
Technology-related | 2,533 | ||||
Customer relationships | 1,900 | ||||
Goodwill | 7,356 | ||||
Total assets acquired, net | $ | 12,666 |
Amount | |||||
(Dollars in Thousands) | |||||
Tangible assets acquired, net | $ | 44 | |||
Identifiable intangible assets: | |||||
Technology-related | 1,485 | ||||
Customer relationships | 990 | ||||
Goodwill | 6,252 | ||||
Deferred tax liabilities | (545) | ||||
Total assets acquired, net | $ | 8,226 |
Gross Carrying Amount | Accumulated Amortization | Effect of Currency Translation | Net Carrying Amount | ||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||
March 31, 2021: | |||||||||||||||||||||||
Technology | $ | 55,288 | $ | (17,786) | $ | 614 | $ | 38,116 | |||||||||||||||
Customer relationships | 12,038 | (4,277) | 119 | 7,880 | |||||||||||||||||||
Non-compete agreements | 553 | (553) | — | — | |||||||||||||||||||
Total | $ | 67,879 | $ | (22,616) | $ | 733 | $ | 45,996 | |||||||||||||||
June 30, 2020: | |||||||||||||||||||||||
Technology | $ | 51,269 | $ | (13,245) | $ | (842) | $ | 37,182 | |||||||||||||||
Customer relationships | 9,148 | (3,171) | (308) | 5,669 | |||||||||||||||||||
Non-compete agreements | 553 | (553) | — | — | |||||||||||||||||||
Total | $ | 60,970 | $ | (16,969) | $ | (1,150) | $ | 42,851 |
Year Ended June 30, | Amortization Expense | ||||
(Dollars in Thousands) | |||||
2021 | $ | 2,005 | |||
2022 | 8,137 | ||||
2023 | 8,118 | ||||
2024 | 7,575 | ||||
2025 | 7,490 | ||||
Thereafter | 12,671 | ||||
Total | $ | 45,996 |
Gross Carrying Amount | Accumulated Impairment Losses | Effect of Currency Translation | Net Carrying Amount | ||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||
June 30, 2020: | $ | 207,850 | $ | (65,569) | $ | (5,226) | $ | 137,055 | |||||||||||||||
Goodwill from acquisitions | 13,608 | — | — | 13,608 | |||||||||||||||||||
Foreign currency translation | — | — | 7,519 | 7,519 | |||||||||||||||||||
March 31, 2021: | $ | 221,458 | $ | (65,569) | $ | 2,293 | $ | 158,182 |
March 31,
2021 |
June 30,
2020 |
||||||||||
(Dollars in Thousands) | |||||||||||
Compensation-related | $ | 23,800 | $ | 27,591 | |||||||
Deferred acquisition payments | 4,050 | 1,479 | |||||||||
Uncertain tax positions | 331 | 318 | |||||||||
Royalties and external commissions | 3,952 | 3,359 | |||||||||
Professional fees | 3,041 | 2,115 | |||||||||
Other | 7,889 | 8,694 | |||||||||
Total accrued expenses and other current liabilities | $ | 43,063 | $ | 43,556 |
March 31,
2021 |
June 30,
2020 |
||||||||||
(Dollars in Thousands) | |||||||||||
Uncertain tax positions | $ | 2,425 | $ | 2,027 | |||||||
Deferred acquisition payments | 1,200 | — | |||||||||
Asset retirement obligations | 944 | 920 | |||||||||
Other | 273 | 160 | |||||||||
Total other non-current liabilities | $ | 4,842 | $ | 3,107 |
Year Ended June 30, | Amount | ||||
(Dollars in Thousands) | |||||
2021 | $ | 4,000 | |||
2022 | 20,000 | ||||
2023 | 28,000 | ||||
2024 | 36,000 | ||||
2025 | 212,000 | ||||
Total | $ | 300,000 |
Nine Months Ended
March 31, |
|||||||||||
2021 | 2020 | ||||||||||
Risk-free interest rate | 0.4 | % | 1.5 | % | |||||||
Expected dividend yield | 0.0 | % | 0.0 | % | |||||||
Expected life (in years) | 4.7 | 4.5 | |||||||||
Expected volatility factor | 34.1 | % | 26.8 | % |
Three Months Ended
March 31, |
Nine Months Ended
March 31, |
||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||
Recorded as expenses: | |||||||||||||||||||||||
Cost of maintenance | $ | 234 | $ | 343 | $ | 688 | $ | 1,104 | |||||||||||||||
Cost of services and other | 412 | 450 | 1,198 | 1,477 | |||||||||||||||||||
Selling and marketing | 1,869 | 1,472 | 4,655 | 4,228 | |||||||||||||||||||
Research and development | 2,273 | 2,082 | 6,515 | 6,193 | |||||||||||||||||||
General and administrative | 4,437 | 2,952 | 11,533 | 11,131 | |||||||||||||||||||
Total stock-based compensation | $ | 9,225 | $ | 7,299 | $ | 24,589 | $ | 24,133 |
Stock Options | Restricted Stock Units | ||||||||||||||||||||||||||||||||||
Shares |
Weighted
Average Exercise Price |
Weighted
Average Remaining Contractual Term (Years) |
Aggregate
Intrinsic Value (in 000’s) |
Shares |
Weighted
Average Grant Date Fair Value |
||||||||||||||||||||||||||||||
Outstanding at June 30, 2020 | 1,410,139 | $ | 76.19 | 6.67 | $ | 49,705 | 352,921 | $ | 112.45 | ||||||||||||||||||||||||||
Granted | 322,472 | 131.40 | 245,023 | 130.63 | |||||||||||||||||||||||||||||||
Settled (RSUs) | — | (148,386) | 105.13 | ||||||||||||||||||||||||||||||||
Exercised (Stock options) | (187,113) | 62.05 | — | ||||||||||||||||||||||||||||||||
Cancelled / Forfeited | (36,779) | 115.82 | (33,060) | 115.97 | |||||||||||||||||||||||||||||||
Outstanding at March 31, 2021 | 1,508,719 | $ | 88.77 | 6.67 | $ | 83,915 | 416,498 | $ | 125.49 | ||||||||||||||||||||||||||
Vested and exercisable at March 31, 2021 | 969,700 | $ | 67.80 | 5.43 | $ | 74,212 | |||||||||||||||||||||||||||||
Vested and expected to vest as of March 31, 2021 | 1,451,661 | $ | 87.34 | 6.58 | $ | 82,837 | 365,640 | $ | 125.51 |
Three Months Ended
March 31, |
Nine Months Ended
March 31, |
||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
(Dollars and Shares in Thousands, Except per Share Data) | |||||||||||||||||||||||
Net income | $ | 62,495 | $ | 41,826 | $ | 224,358 | $ | 135,141 | |||||||||||||||
Weighted average shares outstanding | 67,920 | 67,806 | 67,809 | 68,122 | |||||||||||||||||||
Dilutive impact from: | |||||||||||||||||||||||
Employee equity awards | 688 | 676 | 630 | 784 | |||||||||||||||||||
Dilutive weighted average shares outstanding | 68,608 | 68,482 | 68,439 | 68,906 | |||||||||||||||||||
Income per share | |||||||||||||||||||||||
Basic | $ | 0.92 | $ | 0.62 | $ | 3.31 | $ | 1.98 | |||||||||||||||
Dilutive | $ | 0.91 | $ | 0.61 | $ | 3.28 | $ | 1.96 |
Three Months Ended
March 31, |
Nine Months Ended
March 31, |
||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
(Shares in Thousands) | |||||||||||||||||||||||
Employee equity awards | 507 | 688 | 869 | 678 |
Subscription and Software | Services and Other | Total | |||||||||||||||
(Dollars in Thousands) | |||||||||||||||||
Three Months Ended March 31, 2021 | |||||||||||||||||
Segment revenue | $ | 155,989 | $ | 6,737 | $ | 162,726 | |||||||||||
Segment expenses (1) | (63,878) | (8,396) | (72,274) | ||||||||||||||
Segment profit (loss) | $ | 92,111 | $ | (1,659) | $ | 90,452 | |||||||||||
Three Months Ended March 31, 2020 | |||||||||||||||||
Segment revenue | $ | 122,355 | $ | 8,233 | $ | 130,588 | |||||||||||
Segment expenses (1) | (58,589) | (9,046) | (67,635) | ||||||||||||||
Segment profit (loss) | $ | 63,766 | $ | (813) | $ | 62,953 | |||||||||||
Nine Months Ended March 31, 2021 | |||||||||||||||||
Segment revenue | $ | 491,694 | $ | 19,721 | $ | 511,415 | |||||||||||
Segment expenses (1) | (173,593) | (24,911) | (198,504) | ||||||||||||||
Segment profit (loss) | $ | 318,101 | $ | (5,190) | $ | 312,911 | |||||||||||
Nine Months Ended March 31, 2020 | |||||||||||||||||
Segment revenue | $ | 370,729 | $ | 26,048 | $ | 396,777 | |||||||||||
Segment expenses (1) | (174,629) | (26,560) | (201,189) | ||||||||||||||
Segment profit (loss) | $ | 196,100 | $ | (512) | $ | 195,588 |
Three Months Ended
March 31, |
Nine Months Ended
March 31, |
||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||
Total segment profit for reportable segments | $ | 90,452 | $ | 62,953 | $ | 312,911 | $ | 195,588 | |||||||||||||||
General and administrative expense | (21,553) | (18,219) | (60,389) | (54,525) | |||||||||||||||||||
Interest income | 8,410 | 8,173 | 26,383 | 24,577 | |||||||||||||||||||
Interest (expense) | (1,495) | (3,207) | (5,639) | (9,368) | |||||||||||||||||||
Other (expense), net | (5) | (352) | (1,807) | (217) | |||||||||||||||||||
Income before income taxes | $ | 75,809 | $ | 49,348 | $ | 271,459 | $ | 156,055 |
Nine Months Ended
March 31, |
|||||||||||
2021 | 2020 | ||||||||||
(Dollars in Thousands) | |||||||||||
Net cash provided by operating activities (GAAP) | $ | 172,949 | $ | 143,588 | |||||||
Purchases of property, equipment, and leasehold improvements | (733) | (1,111) | |||||||||
Payments for capitalized computer software development costs | (895) | (141) | |||||||||
Acquisition related payments | 2,433 | 1,264 | |||||||||
Free cash flow (non-GAAP) | $ | 173,754 | $ | 143,600 |
Three Months Ended
March 31, |
Increase / (Decrease)
Change |
Nine Months Ended
March 31, |
Increase / (Decrease)
Change |
||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | $ | % | 2021 | 2020 | $ | % | ||||||||||||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||||||||||||||||
GAAP income from operations | $ | 68,899 | $ | 44,734 | $ | 24,165 | 54.0 | % | $ | 252,522 | $ | 141,063 | $ | 111,459 | 79.0 | % | |||||||||||||||||||||||||||||||
Plus: | |||||||||||||||||||||||||||||||||||||||||||||||
Stock-based compensation | 9,225 | 7,299 | 1,926 | 26.4 | % | 24,589 | 24,133 | 456 | 1.9 | % | |||||||||||||||||||||||||||||||||||||
Amortization of intangibles | 2,047 | 1,864 | 183 | 9.8 | % | 5,657 | 4,741 | 916 | 19.3 | % | |||||||||||||||||||||||||||||||||||||
Acquisition related fees | 749 | — | 749 | 100.0 | % | 3,133 | 78 | 3,055 | 3,916.7 | % | |||||||||||||||||||||||||||||||||||||
Non-GAAP income from operations | $ | 80,920 | $ | 53,897 | $ | 27,023 | 50.1 | % | $ | 285,901 | $ | 170,015 | $ | 115,886 | 68.2 | % |
Three Months Ended
March 31, |
Increase / (Decrease)
Change |
Nine Months Ended
March 31, |
Increase /
(Decrease) Change |
||||||||||||||||||||||||||||||||
2021 | 2020 | % | 2021 | 2020 | % | ||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||||
Revenue: | |||||||||||||||||||||||||||||||||||
License | $ | 110,104 | $ | 78,156 | 40.9 | % | $ | 352,133 | $ | 238,311 | 47.8 | % | |||||||||||||||||||||||
Maintenance | 45,885 | 44,199 | 3.8 | % | 139,561 | 132,418 | 5.4 | % | |||||||||||||||||||||||||||
Services and other | 6,737 | 8,233 | (18.2) | % | 19,721 | 26,048 | (24.3) | % | |||||||||||||||||||||||||||
Total revenue | 162,726 | 130,588 | 24.6 | % | 511,415 | 396,777 | 28.9 | % | |||||||||||||||||||||||||||
Cost of revenue: | |||||||||||||||||||||||||||||||||||
License | 2,485 | 1,881 | 32.1 | % | 6,859 | 5,550 | 23.6 | % | |||||||||||||||||||||||||||
Maintenance | 5,174 | 4,778 | 8.3 | % | 14,066 | 14,339 | (1.9) | % | |||||||||||||||||||||||||||
Services and other | 8,396 | 9,046 | (7.2) | % | 24,911 | 26,560 | (6.2) | % | |||||||||||||||||||||||||||
Total cost of revenue | 16,055 | 15,705 | 2.2 | % | 45,836 | 46,449 | (1.3) | % | |||||||||||||||||||||||||||
Gross profit | 146,671 | 114,883 | 27.7 | % | 465,579 | 350,328 | 32.9 | % | |||||||||||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||||||||||||||
Selling and marketing | 30,345 | 28,354 | 7.0 | % | 82,092 | 86,046 | (4.6) | % | |||||||||||||||||||||||||||
Research and development | 25,874 | 23,576 | 9.7 | % | 70,576 | 68,694 | 2.7 | % | |||||||||||||||||||||||||||
General and administrative | 21,553 | 18,219 | 18.3 | % | 60,389 | 54,525 | 10.8 | % | |||||||||||||||||||||||||||
Total operating expenses | 77,772 | 70,149 | 10.9 | % | 213,057 | 209,265 | 1.8 | % | |||||||||||||||||||||||||||
Income from operations | 68,899 | 44,734 | 54.0 | % | 252,522 | 141,063 | 79.0 | % | |||||||||||||||||||||||||||
Interest income | 8,410 | 8,173 | 2.9 | % | 26,383 | 24,577 | 7.3 | % | |||||||||||||||||||||||||||
Interest (expense) | (1,495) | (3,207) | (53.4) | % | (5,639) | (9,368) | (39.8) | % | |||||||||||||||||||||||||||
Other (expense), net | (5) | (352) | (98.6) | % | (1,807) | (217) | 732.7 | % | |||||||||||||||||||||||||||
Income before income taxes | 75,809 | 49,348 | 53.6 | % | 271,459 | 156,055 | 74.0 | % | |||||||||||||||||||||||||||
Provision for income taxes | 13,314 | 7,522 | 77.0 | % | 47,101 | 20,914 | 125.2 | % | |||||||||||||||||||||||||||
Net income | $ | 62,495 | $ | 41,826 | 49.4 | % | $ | 224,358 | $ | 135,141 | 66.0 | % |
Three Months Ended
March 31, |
Nine Months Ended
March 31, |
||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
(% of Revenue) | |||||||||||||||||||||||
Revenue: | |||||||||||||||||||||||
License | 67.7 | % | 59.8 | % | 68.9 | % | 60.1 | % | |||||||||||||||
Maintenance | 28.2 | 33.8 | 27.3 | 33.4 | |||||||||||||||||||
Services and other | 4.1 | 6.4 | 3.9 | 6.5 | |||||||||||||||||||
Total revenue | 100.0 | 100.0 | 100.1 | 100.0 | |||||||||||||||||||
Cost of revenue: | |||||||||||||||||||||||
License | 1.5 | 1.4 | 1.3 | 1.4 | |||||||||||||||||||
Maintenance | 3.2 | 3.7 | 2.8 | 3.6 | |||||||||||||||||||
Services and other | 5.2 | 6.9 | 4.9 | 6.7 | |||||||||||||||||||
Total cost of revenue | 9.9 | 12.0 | 9.0 | 11.7 | |||||||||||||||||||
Gross profit | 90.1 | 88.0 | 91.0 | 88.3 | |||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||
Selling and marketing | 18.6 | 21.7 | 16.1 | 21.7 | |||||||||||||||||||
Research and development | 15.9 | 18.1 | 13.8 | 17.3 | |||||||||||||||||||
General and administrative | 13.2 | 14.0 | 11.8 | 13.7 | |||||||||||||||||||
Total operating expenses | 47.8 | 53.7 | 41.7 | 52.7 | |||||||||||||||||||
Income from operations | 42.3 | 34.3 | 49.4 | 35.6 | |||||||||||||||||||
Interest income | 5.2 | 6.3 | 5.2 | 6.2 | |||||||||||||||||||
Interest (expense) | (0.9) | (2.5) | (1.1) | (2.4) | |||||||||||||||||||
Other (expense), net | — | (0.3) | (0.4) | (0.1) | |||||||||||||||||||
Income before income taxes | 46.6 | 37.8 | 53.1 | 39.3 | |||||||||||||||||||
Provision for income taxes | 8.2 | 5.8 | 9.2 | 5.3 | |||||||||||||||||||
Net income | 38.4 | % | 32.0 | % | 43.9 | % | 34.1 | % |
Three Months Ended
March 31, |
Increase / (Decrease)
Change |
Nine Months Ended
March 31, |
Increase / (Decrease)
Change |
||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | $ | % | 2021 | 2020 | $ | % | ||||||||||||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||||||||||||||||
License revenue | $ | 110,104 | $ | 78,156 | $ | 31,948 | 40.9 | % | $ | 352,133 | $ | 238,311 | $ | 113,822 | 47.8 | % | |||||||||||||||||||||||||||||||
As a percent of total revenue | 67.7 | % | 59.8 | % | 68.9 | % | 60.1 | % |
Three Months Ended
March 31, |
Increase / (Decrease)
Change |
Nine Months Ended
March 31, |
Increase / (Decrease)
Change |
||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | $ | % | 2021 | 2020 | $ | % | ||||||||||||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||||||||||||||||
Maintenance revenue | $ | 45,885 | $ | 44,199 | $ | 1,686 | 3.8 | % | $ | 139,561 | $ | 132,418 | $ | 7,143 | 5.4 | % | |||||||||||||||||||||||||||||||
As a percent of total revenue | 28.2 | % | 33.8 | % | 27.3 | % | 33.4 | % |
Three Months Ended
March 31, |
Increase / (Decrease)
Change |
Nine Months Ended
March 31, |
Increase / (Decrease)
Change |
||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | $ | % | 2021 | 2020 | $ | % | ||||||||||||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||||||||||||||||
Services and other revenue | $ | 6,737 | $ | 8,233 | $ | (1,496) | (18.2) | % | $ | 19,721 | $ | 26,048 | $ | (6,327) | (24.3) | % | |||||||||||||||||||||||||||||||
As a percent of total revenue | 4.1 | % | 6.4 | % | 3.9 | % | 6.5 | % |
Three Months Ended
March 31, |
Increase / (Decrease)
Change |
Nine Months Ended
March 31, |
Increase / (Decrease)
Change |
||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | $ | % | 2021 | 2020 | $ | % | ||||||||||||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||||||||||||||||
Cost of license revenue | $ | 2,485 | $ | 1,881 | $ | 604 | 32.1 | % | $ | 6,859 | $ | 5,550 | $ | 1,309 | 23.6 | % | |||||||||||||||||||||||||||||||
As a percent of license revenue | 2.3 | % | 2.4 | % | 1.9 | % | 2.3 | % |
Three Months Ended
March 31, |
Increase / (Decrease)
Change |
Nine Months Ended
March 31, |
Increase / (Decrease)
Change |
||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | $ | % | 2021 | 2020 | $ | % | ||||||||||||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||||||||||||||||
Cost of maintenance revenue | $ | 5,174 | $ | 4,778 | $ | 396 | 8.3 | % | $ | 14,066 | $ | 14,339 | $ | (273) | (1.9) | % | |||||||||||||||||||||||||||||||
As a percent of maintenance revenue | 11.3 | % | 10.8 | % | 10.1 | % | 10.8 | % |
Three Months Ended
March 31, |
Increase / (Decrease)
Change |
Nine Months Ended
March 31, |
Increase / (Decrease)
Change |
||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | $ | % | 2021 | 2020 | $ | % | ||||||||||||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||||||||||||||||
Cost of services and other revenue | $ | 8,396 | $ | 9,046 | $ | (650) | (7.2) | % | $ | 24,911 | $ | 26,560 | $ | (1,649) | (6.2) | % | |||||||||||||||||||||||||||||||
As a percent of services and other revenue | 124.6 | % | 109.9 | % | 126.3 | % | 102.0 | % |
Three Months Ended
March 31, |
Increase / (Decrease)
Change |
Nine Months Ended
March 31, |
Increase / (Decrease)
Change |
||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | $ | % | 2021 | 2020 | $ | % | ||||||||||||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||||||||||||||||
Gross profit | $ | 146,671 | $ | 114,883 | $ | 31,788 | 27.7 | % | $ | 465,579 | $ | 350,328 | $ | 115,251 | 32.9 | % | |||||||||||||||||||||||||||||||
As a percent of revenue | 90.1 | % | 88.0 | % | 91.0 | % | 88.3 | % |
Three Months Ended
March 31, |
Increase / (Decrease)
Change |
Nine Months Ended
March 31, |
Increase / (Decrease)
Change |
||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | $ | % | 2021 | 2020 | $ | % | ||||||||||||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||||||||||||||||
Selling and marketing expense | $ | 30,345 | $ | 28,354 | $ | 1,991 | 7.0 | % | $ | 82,092 | $ | 86,046 | $ | (3,954) | (4.6) | % | |||||||||||||||||||||||||||||||
As a percent of total revenue | 18.6 | % | 21.7 | % | 16.1 | % | 21.7 | % |
Three Months Ended
March 31, |
Increase / (Decrease)
Change |
Nine Months Ended
March 31, |
Increase / (Decrease)
Change |
||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | $ | % | 2021 | 2020 | $ | % | ||||||||||||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||||||||||||||||
Research and development expense | $ | 25,874 | $ | 23,576 | $ | 2,298 | 9.7 | % | $ | 70,576 | $ | 68,694 | $ | 1,882 | 2.7 | % | |||||||||||||||||||||||||||||||
As a percent of total revenue | 15.9 | % | 18.1 | % | 13.8 | % | 17.3 | % |
Three Months Ended
March 31, |
Increase / (Decrease)
Change |
Nine Months Ended
March 31, |
Increase / (Decrease)
Change |
||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | $ | % | 2021 | 2020 | $ | % | ||||||||||||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||||||||||||||||
General and administrative expense | $ | 21,553 | $ | 18,219 | $ | 3,334 | 18.3 | % | $ | 60,389 | $ | 54,525 | $ | 5,864 | 10.8 | % | |||||||||||||||||||||||||||||||
As a percent of total revenue | 13.2 | % | 14.0 | % | 11.8 | % | 13.7 | % |
Three Months Ended
March 31, |
Increase / (Decrease)
Change |
Nine Months Ended
March 31, |
Increase / (Decrease)
Change |
||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | $ | % | 2021 | 2020 | $ | % | ||||||||||||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||||||||||||||||
Interest income | $ | 8,410 | $ | 8,173 | $ | 237 | 2.9 | % | $ | 26,383 | $ | 24,577 | $ | 1,806 | 7.3 | % | |||||||||||||||||||||||||||||||
As a percent of total revenue | 5.2 | % | 6.3 | % | 5.2 | % | 6.2 | % |
Three Months Ended
March 31, |
(Increase) / Decrease
Change |
Nine Months Ended
March 31, |
(Increase) / Decrease
Change |
||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | $ | % | 2021 | 2020 | $ | % | ||||||||||||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||||||||||||||||
Interest (expense) | $ | (1,495) | $ | (3,207) | $ | 1,712 | (53.4) | % | $ | (5,639) | $ | (9,368) | $ | 3,729 | (39.8) | % | |||||||||||||||||||||||||||||||
As a percent of total revenue | (0.9) | % | (2.5) | % | (1.1) | % | (2.4) | % |
Three Months Ended
March 31, |
Increase / (Decrease)
Change |
Nine Months Ended
March 31, |
Increase / (Decrease)
Change |
||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | $ | % | 2021 | 2020 | $ | % | ||||||||||||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||||||||||||||||
Other (expense), net | $ | (5) | $ | (352) | $ | 347 | (98.6) | % | $ | (1,807) | $ | (217) | $ | (1,590) | 732.7 | % | |||||||||||||||||||||||||||||||
As a percent of total revenue | — | % | (0.3) | % | (0.4) | % | (0.1) | % |
Three Months Ended
March 31, |
Increase / (Decrease)
Change |
Nine Months Ended
March 31, |
Increase / (Decrease)
Change |
||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | $ | % | 2021 | 2020 | $ | % | ||||||||||||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||||||||||||||||
Provision for income taxes | $ | 13,314 | $ | 7,522 | $ | 5,792 | 77.0 | % | $ | 47,101 | $ | 20,914 | $ | 26,187 | 125.2 | % | |||||||||||||||||||||||||||||||
Effective tax rate | 17.6 | % | 15.2 | % | 17.3 | % | 13.4 | % |
Nine Months Ended
March 31, |
|||||||||||
2021 | 2020 | ||||||||||
(Dollars in Thousands) | |||||||||||
Cash flow provided by (used in): | |||||||||||
Operating activities | $ | 172,949 | $ | 143,588 | |||||||
Investing activities | (18,826) | (76,031) | |||||||||
Financing activities | (125,393) | 53,527 | |||||||||
Effect of exchange rates on cash balances | 573 | (838) | |||||||||
Increase in cash and cash equivalents | $ | 29,303 | $ | 120,246 |
Period |
Total Number
of Shares Purchased (2) |
Average Price
Paid per Share (3) |
Total Number of
Shares Purchased as Part of Publicly Announced Program (1) |
Approximate Dollar
Value of Shares that May Yet Be Purchased Under the Program (4) |
||||||||||||||||||||||
January 1 to 31, 2021 | — | $ | — | — | ||||||||||||||||||||||
February 1 to 28, 2021 | — | $ | — | — | ||||||||||||||||||||||
March 1 to 31, 2021 | — | $ | — | — | ||||||||||||||||||||||
Total | — | $ | — | — | $ | 200,000,000 |
Exhibit Number | Description | |||||||||||||||||||||||||||||||
10.1 | ||||||||||||||||||||||||||||||||
10.2 | ||||||||||||||||||||||||||||||||
31.1 | ||||||||||||||||||||||||||||||||
31.2 | ||||||||||||||||||||||||||||||||
32.1 | ||||||||||||||||||||||||||||||||
101.SCH | XBRL Taxonomy Extension Schema Document | |||||||||||||||||||||||||||||||
101.CAL | XBRL Taxonomy Extension Calculation Linkbase Document | |||||||||||||||||||||||||||||||
101.DEF | XBRL Taxonomy Extension Definition Linkbase Document | |||||||||||||||||||||||||||||||
101.LAB | XBRL Taxonomy Extension Label Linkbase Document | |||||||||||||||||||||||||||||||
101.PRE | XBRL Taxonomy Extension Presentation Linkbase Document | |||||||||||||||||||||||||||||||
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||||||||||||||||||||||||||
^ Management contract or compensatory plan or arrangement
|
Aspen Technology, Inc. | ||||||||
Date: April 28, 2021 | By: | /s/ ANTONIO J. PIETRI | ||||||
Antonio J. Pietri | ||||||||
President and Chief Executive Officer | ||||||||
(Principal Executive Officer) |
Date: April 28, 2021 | By: | /s/ CHANTELLE BREITHAUPT | ||||||
Chantelle Breithaupt | ||||||||
Senior Vice President and Chief Financial Officer | ||||||||
(Principal Financial Officer) |
ASPEN TECHNOLOGY, INC. | |||||
/s/ ANTONIO. J. PIETRI | |||||
Antonio J. Pietri | |||||
President and Chief Executive Officer | |||||
|
ACCEPTED AND AGREED: | ||
/s/ Karl E. Johnsen | ||
Karl E. Johnsen | ||
/s/ CHANTELLE BREITHAUPT | |||||
Chantelle Breithaupt | |||||
Senior Vice President and Chief Financial Officer | |||||
Address: | |||||
11157 Hazel ave, Campbell, CA 95008 | |||||
/s/ CHANTELLE BREITHAUPT | |||||
Chantelle Breithaupt | |||||
Senior Vice President and Chief Financial Officer | |||||
Date: 3/22/2021 | |||||
Date: April 28, 2021 | /s/ ANTONIO. J. PIETRI | ||||
Antonio J. Pietri | |||||
President and Chief Executive Officer | |||||
(Principal Executive Officer)
|
Date: April 28, 2021 | /s/ CHANTELLE BREITHAUPT | ||||
Chantelle Breithaupt | |||||
Senior Vice President and Chief Financial Officer | |||||
(Principal Financial Officer) |
Date: April 28, 2021 | /s/ ANTONIO J. PIETRI | ||||
Antonio J. Pietri | |||||
President and Chief Executive Officer |
Date: April 28, 2021 | /s/ CHANTELLE BREITHAUPT | ||||
Chantelle Breithaupt | |||||
Senior Vice President and Chief Financial Officer |