Segment Information

9 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Segment Information

Segment Information

Operating segments are defined as components of an enterprise that engage in business activities for which discrete financial information is available and regularly reviewed by the chief operating decision maker in deciding how to allocate resources and to assess performance.

Prior to the Transaction, the Industrial Software Business had two operating and reportable segments: OSI Inc. and the GSS business (subsequently renamed Subsurface Science & Engineering Solutions, or “SSE”, after the Closing Date). The Transaction resulted in the creation of a third operating and reportable segment: Heritage AspenTech. During the three months ended September 30, 2022, the Company completed certain integration activities and changes to its organizational structure that triggered a change in the composition of its operating and reportable segments. As a result, beginning with the interim period ended September 30, 2022, the Company is now comprised of a single operating and reportable segment. Accordingly, the Company has restated its operating and reportable segment information for the three and nine months ended March 31, 2022. The Company’s chief operating decision maker is its President and Chief Executive Officer.

Geographic Information

Summarized below is information about the Company’s geographic operations:

Revenue by Destination

	Three Months Ended March 31,				Nine Months Ended March 31,
	2023		2022		2023		2022
Americas	$	115,614	$	55,104	$	360,935	$	167,042
Asia, Middle East and Africa	58,881		15,238		174,595		38,050
Europe	55,383		14,259		188,005		38,299
Total	$	229,878	$	84,601	$	723,535	$	243,391

Americas included revenue in the U.S. of $89.4 million and $48.0 million for the three months ended March 31, 2023 and 2022, respectively, and $289.9 million and $149.1 million for the nine months ended March 31, 2023 and 2022, respectively.

	Property, Equipment, and
	Leasehold Improvements, Net
	March 31, 2023		June 30, 2022
Americas	$	15,614	$	14,591
Asia, Middle East and Africa	2,004		1,154
Europe	714		1,403
Total	$	18,332	$	17,148

Property, equipment, and leasehold improvements located in the U.S. were $13.3 million and $13.0 million as of March 31, 2023 and June 30, 2022, respectively.