Segment and Geographic Information

9 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Segment and Geographic Information

Segment and Geographic 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 fiscal 2022 and 2021. 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

	Year Ended June 30, 2023		Nine Months Ended June 30, 2022		Year Ended September 30, 2021
	(Dollars in Thousands)
Americas	$	486,506	$	234,383	$	182,314
Asia, Middle East and Africa	281,974		85,955		60,300
Europe	275,698		84,958		58,026
Total	$	1,044,178	$	405,296	$	300,640

Americas included revenue in the U.S. of $387.8 million, $173.5 million, and $123.2 million for fiscal 2023, 2022, and 2021, respectively.

	Property, Equipment, and
	Leasehold Improvements, Net
	June 30,
	2023		2022
	(Dollars in Thousands)
Americas	$	15,793	$	14,591
Asia, Middle East and Africa	1,923		1,154
Europe	954		1,403
Total	$	18,670	$	17,148

Property, equipment, and leasehold improvements located in the U.S. were $13.4 million and $13.0 million, as of June 30, 2023 and 2022, respectively.