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Altair Engineering Inc. (NASDAQ: ALTR) is a global leader in computational intelligence, providing enterprise-class engineering software that spans the entire product lifecycle from conceptual design to in-service operation. With over 30 years of experience, Altair specializes in simulation, high-performance computing (HPC), data analytics, and artificial intelligence (AI), offering solutions that optimize design performance across multiple disciplines such as structures, motion, fluids, thermal management, system modeling, and embedded systems.
Headquartered in Troy, Michigan, Altair employs more than 2,500 people across 45 offices in 24 countries, ensuring a global presence in North America, South America, Europe, and Asia Pacific. The company’s client base includes over 5,000 corporations spanning various industries such as automotive, aerospace, government and defense, and consumer products. Altair is also expanding its reach in life sciences, financial services, and energy markets.
Altair operates through two primary segments: Software and Client Engineering Services. The Software segment includes a robust portfolio of products ranging from solvers and optimization technologies to modeling and visualization tools. The Client Engineering Services segment provides specialized engineering expertise to support customer projects.
Financially, Altair has shown strong performance, marked by record-high revenues and profits. For the fourth quarter of 2023, the company reported $155.9 million in software revenue, reflecting a 7.6% increase compared to the same period in 2022. Total revenue for the quarter was $171.5 million, with a net income of $19.7 million. For the full year of 2023, Altair achieved $612.7 million in total revenue, marking a 7.1% increase from the previous year.
Recent achievements include the launch of Altair SimSolid for electronics, a groundbreaking tool in multi-physics simulation for PCBs and ICs. Additionally, Altair acquired Cambridge Semantics to enhance its data analytics and AI offerings, and Research in Flight to bolster its computational fluid dynamics capabilities. Altair continues to be a thought leader, as evidenced by its planned participation in Hannover Messe 2024, where it will showcase its AI-powered engineering solutions.
Altair’s commitment to global information security was solidified with the ISO/IEC 27001:2022 certification, demonstrating its adherence to international standards. The company is also organizing the ATCx AI for Engineers 2024 global virtual event, aimed at exploring AI's transformative potential in product development.
Altair’s forward-looking strategies and investments in cutting-edge technologies ensure that it remains at the forefront of computational intelligence, providing unparalleled value to its diverse client base.
Altair (Nasdaq: ALTR), a global leader in computational intelligence, has been selected to join the Piedmont Aerospace Cluster. Altair will contribute to several of the Cluster's innovative projects and strategic initiatives, providing indispensable tools and expertise for digital engineering and the application of AI in the development, production, and maintenance of aircraft and subsystems.
Altair's senior vice president of aerospace and defense, Pietro Cervellera, highlighted the company's long-standing presence in Piedmont and Turin, emphasizing their established relationships with leading aerospace companies.
Fulvia Quagliotti, president of the Piedmont Aerospace Cluster, welcomed Altair, noting the importance of simulation, data analytics, and AI for aerospace organizations.
The Cluster, established in 2005, aims to enhance the competitiveness of Piedmont's aerospace industry by coordinating public and private investment in technological innovation. It is a founding member of the National Aerospace Technology Cluster (CTNA), which federates Italy's leading aerospace hubs and includes public authorities, universities, research centers, and companies.
Altair (ALTR) reported its Q4 and full-year 2024 financial results, showing strong revenue growth and improved profitability. Q4 software revenue increased 15.0% to $179.4 million, while total revenue grew 12.3% to $192.6 million. However, Q4 net income decreased to $1.0 million from $19.7 million in Q4 2023.
For full-year 2024, software revenue rose 11.3% to $611.9 million, and total revenue increased 8.7% to $665.8 million. The company achieved net income of $14.2 million, compared to a net loss of $8.9 million in 2023. Free cash flow improved to $140.0 million from $117.1 million.
Notably, Altair's stockholders approved the pending acquisition by Siemens Industry Software, expected to close in first half 2025. The company has suspended quarterly financial results conference calls and guidance due to this transaction.
Altair (Nasdaq: ALTR) has announced the release of HyperWorks® 2025, an advanced design and simulation platform aimed at achieving a zero-prototype world. The platform combines artificial intelligence (AI), high-performance computing, and multiphysics simulation with cloud-based scalability.
Key features include AI-powered engineering with physics prediction models, cloud-based SaaS solutions like Altair® DSim™, and enhanced automation capabilities with Python APIs. The platform offers digital twin technologies, improved solver efficiency through the 'One Model, One Solver' approach, and advanced material simulation capabilities.
Notable improvements include enhanced multiphysics simulation for electronics, CAE design tools with AI assistance through Altair® CoPilot™ Beta, and expanded particle simulation features with new physics models for various industries including agriculture, batteries, and pharmaceuticals.
Altair (ALTR) and L&T Technology Services (LTTS) have announced the launch of a 5G-6G Wireless Center of Excellence (CoE). The initiative combines Altair's design and simulation tools with LTTS's domain expertise to address challenges in telecommunications, automotive, manufacturing, and healthcare sectors.
The CoE will focus on key initiatives including 5G-6G network planning, RF design and development, wireless connectivity enhancements for smart factories and connected vehicles, digital twins of 5G and 6G networks, and network failure predictions. These solutions will be powered by Altair® HyperWorks® and Altair® RapidMiner® platforms.
The center aims to tackle industry challenges such as connectivity breakdowns, high operational costs, and slower innovation cycles. It will provide hands-on training, workshops, and collaborative spaces to help industries adopt wireless technologies. LTTS was recognized as Partner of the Year at the 2025 Altair Channel Partner Awards for their work in simulation and digital twin technology.
Altair (ALTR) has announced its flagship annual event, Future.Industry 2025, scheduled for March 5-6, 2025, as a virtual conference. The event will feature speakers from leading organizations including NVIDIA, Microsoft, AMD, and others, focusing on simulation, high-performance computing, AI, and data analytics.
The conference will be structured with unified main sessions on Day 1 and early Day 2, followed by four specialized tracks covering engineering AI integration, enterprise AI adoption, HPC solutions, and educational innovation. The event will be accessible across Americas, EMEA, and APAC time zones, offering live translations in eight languages.
Notable speakers include representatives from Google, BBC News, Forrester, and other industry leaders. The event aims to provide insights for audiences of all expertise levels, exploring technological transformations across various sectors.
Altair (ALTR) has welcomed Meridian Flight Systems to its Aerospace Startup Acceleration Program (ASAP). Through this collaboration, Meridian will leverage Altair's advanced simulation, data analytics, and HPC software to enhance the development of their Corra unmanned aerial vehicle (UAV) and Hybrid Electric Range-Extending Microturbine Energy System (HERMES).
The partnership includes comprehensive access to Altair's simulation and optimization software for aerodynamics, structural integrity, and thermal systems, along with dedicated technical support. Both companies will collaborate on research initiatives, co-authoring papers and presenting at industry conferences to share insights from the projects.
Altair (ALTR) has announced significant upgrades to its Altair® HPCWorks® high-performance computing and cloud platform for 2025. The enhanced platform now operates within Altair Units licensing system, offering flexible and scalable licensing options. Key improvements include expanded cloud scaling capabilities for both Altair and third-party workload managers, advanced AI-enabled job scheduling, and enhanced GPU support.
The platform introduces integrated cloud automation for efficient resource management across multi-cloud and multi-cluster installations. Notable features include AI integration with the Altair® RapidMiner® platform for smarter scheduling, comprehensive monitoring and reporting tools, enhanced security measures, and improved support for distributed workflows. The updates aim to optimize computing resources and streamline operations for enterprises using HPC and cloud services.
Altair (Nasdaq: ALTR) has opened submissions for its 2025 Enlighten Award, presented with the Center for Automotive Research (CAR). The award recognizes automotive industry innovations in sustainability and lightweighting that reduce carbon footprint and improve material efficiency.
The award features six categories: Sustainable Product, Sustainable Process, Module Lightweighting, Enabling Technology, Future of Lightweighting, and two new categories - Responsible AI and Sustainable Computing. Previous winners include major automotive manufacturers like GM, Ford, Stellantis, Toyota, and BMW.
Submissions are due by June 16, 2025, with winners to be announced on September 16, 2025 at the CAR Management Briefing Seminars in Detroit's Michigan Central Station.
Altair (Nasdaq: ALTR) and Cranfield University have signed a memorandum of understanding to advance the use of artificial intelligence, simulation, and data analytics in aerospace and robotics industries. The collaboration aims to support students, researchers, and startups in leveraging computational intelligence technologies.
The partnership comes at a strategic time when AI, machine learning, data analytics, and simulation convergence is important for innovations in autonomous space exploration, Earth observation, telecommunications, and defense. Cranfield University, the only university in Europe with its own airport and runway, is the U.K.'s largest provider of accredited aerospace and space master's degree courses.
Altair Engineering (Nasdaq: ALTR) announced that its stockholders have approved the merger agreement with Siemens Industry Software, a subsidiary of Siemens AG, during a special meeting. Under the agreement terms, Siemens Industry will acquire all outstanding shares of Altair's common stock for $113.00 per share in cash. Following the transaction's completion, Altair's securities will be delisted from public stock exchanges. The final voting results will be filed with the SEC on January 22, 2025.
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