diff --git a/core/pom.xml b/core/pom.xml
index 7ae043493..094e6ce3e 100644
--- a/core/pom.xml
+++ b/core/pom.xml
@@ -23,7 +23,7 @@
     <artifactId>rapids-4-spark-tools_2.12</artifactId>
     <name>RAPIDS Accelerator for Apache Spark tools</name>
     <description>RAPIDS Accelerator for Apache Spark tools</description>
-    <version>24.10.4-SNAPSHOT</version>
+    <version>24.12.1-SNAPSHOT</version>
     <packaging>jar</packaging>
     <url>http://github.com/NVIDIA/spark-rapids-tools</url>
 
diff --git a/user_tools/src/spark_rapids_pytools/__init__.py b/user_tools/src/spark_rapids_pytools/__init__.py
index 13d08a4dd..103ac0793 100644
--- a/user_tools/src/spark_rapids_pytools/__init__.py
+++ b/user_tools/src/spark_rapids_pytools/__init__.py
@@ -16,7 +16,7 @@
 
 from spark_rapids_pytools.build import get_version, get_spark_dep_version
 
-VERSION = '24.10.4'
+VERSION = '24.12.1'
 # defines the default runtime build version for the user tools environment
 SPARK_DEP_VERSION = '350'
 __version__ = get_version(VERSION)