Aspen Technology, Inc. AZPN shares are trading higher after the company reported better-than-expected Q4 FY24 financial results on Tuesday. Revenue stood at $342.9 million, beating the consensus of $319.16 million. At the end of fiscal 2024, Annual Contract Value (ACV) reached $968.4 million, marking a 9.4% increase Y/Y and rose 3.5% Q/Q, in the quarter. AspenTech has suspended all commercial activities in Russia due to expanded sanctions and has written off approximately $35.5 million in Annual Contract Value (ACV) as of the end of fiscal 2024. As a result, ACV stood at $932.9 million as of June 30, 2024. Excluding Russia-based ACV for both fiscal 2023 and 2024, ACV increased by 10.0% Y/Y in fiscal 2024. Adjusted income from operations in Q4 stood at $173.4 million, up from $148.9 million in the prior year quarter, due to lower operating expenses and reduced stock-based compensation. Adjusted EPS of $2.37 surpassed the street view of $2.08.