Aspen Technology, inc (NASDAQ:AZPN)
Q1 2022 Earnings Call
Oct 27, 2021, 4:30 p.m. ET
- Prepared Remarks
- Questions and Answers
- Call Participants
Ladies and gentlemen, thank you for standing by, and welcome to the Aspen Technology First Quarter Fiscal 2022 Earnings Conference Call. [Operator Instructions]
I would now like to hand the conference over to your speaker host today, Brian Denyeau. Please go ahead.
Brian Denyeau — Investor Relations
Thank you. Good afternoon, everyone, and thank you for joining us to discuss our financial results for the first quarter of fiscal 2022 ending September 30, 2021. With me on the call today are Antonio Pietri, AspenTech’s President and CEO; and Chantelle Breithaupt, CFO of AspenTech. Before we begin, I will make the safe harbor statement that during the course of this call, we may make projections or other forward-looking statements about the financial performance of the company that involve risks and uncertainties. The company’s actual results may differ materially from such projections or statements. Factors that might cause such differences include but are not limited to those discussed in today’s call and contained in our most recently filed Form 10-Q. Also, please note that the following information relates to our current business conditions and our outlook as of today, October 27, 2021.
Consistent with our prior practice, we expressly disclaim any obligation to update this information. The structure of today’s call will be as follows: Antonio will discuss business highlights from the first quarter and our pending agreement with Emerson, and then Chantelle will review our financial results and discuss our guidance for fiscal year 2022. With that, let me turn the call over to Antonio. Antonio?
Antonio Pietri — President & Chief Executive Officer
Thanks, Brian, and thanks to all of you for joining us today. We had a strong start to the year with annual spend coming in above our expectations. We saw a notable improvement in the spending environment during the quarter as the continuing economic recovery has improved end-market conditions for many of our customers. As we have discussed over the past 12 months, we have seen consistently strong demand indications from our customers about expanding adoption of AspenTech solutions to increase operational efficiency and sustainability. While the market is not yet back to pre-COVID levels, we believe the first quarter …….