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About Altair Engineering (NASDAQ: ALTR)
Altair Engineering Inc. is a global leader in computational intelligence, specializing in software and cloud solutions for simulation, high-performance computing (HPC), data analytics, and artificial intelligence (AI). With over 30 years of experience, the company empowers organizations across diverse industries to optimize designs, improve decision-making, and drive sustainable innovation. Altair’s integrated suite of software solutions enables end-to-end product lifecycle management, from concept design to in-service operation, ensuring superior performance and efficiency.
Core Business Areas
Altair operates through two primary segments:
- Software: This segment includes advanced tools for structural simulation, fluid dynamics, thermal management, system modeling, embedded systems, and data visualization. Flagship platforms like Altair® HyperWorks® and Altair® RapidMiner® integrate optimization, AI, and machine learning to address complex engineering challenges.
- Client Engineering Services: Altair provides specialized engineering support, enabling clients to address unique technical challenges and achieve project-specific goals.
The majority of Altair’s revenue is derived from its software segment, reflecting its strong position in enterprise-class engineering solutions.
Industry Applications
Altair serves over 5,000 corporate clients worldwide across industries including:
- Automotive: Lightweighting, structural optimization, and autonomous vehicle development.
- Aerospace: Advanced simulation for aircraft design, propulsion systems, and space exploration.
- Energy: Renewable energy optimization and grid efficiency solutions.
- Life Sciences: Medical device design and healthcare analytics.
- Financial Services: Predictive analytics and risk management.
Altair’s technology also supports emerging markets such as eVTOL (electric vertical takeoff and landing) and quantum computing, demonstrating its commitment to cutting-edge innovation.
Competitive Position and Differentiation
Altair distinguishes itself through its holistic approach to computational intelligence, integrating HPC, AI, and simulation into unified platforms. Key differentiators include:
- Innovation: Pioneering technologies like quantum computing for fluid dynamics and generative AI for automation systems.
- Sustainability: Solutions that enable greener designs, such as lightweight materials and energy-efficient manufacturing processes.
- Partnerships: Collaborations with industry leaders like LG Electronics, Siemens, and the European Space Agency (ESA) to drive transformative outcomes.
Altair’s flexible licensing model, Altair Units™, further enhances its appeal by offering scalable access to its extensive software portfolio.
Future Outlook
As industries increasingly adopt AI-driven solutions, Altair is well-positioned to capitalize on this trend. Its focus on sustainability, digital transformation, and next-generation technologies ensures its relevance in a rapidly evolving market. With a robust ecosystem of partners and a growing presence in high-growth sectors, Altair continues to drive innovation and deliver value to its stakeholders.
Why Altair Matters
Altair’s mission to bridge the gap between simulation, AI, and HPC makes it a cornerstone for organizations aiming to innovate and compete effectively. Its solutions not only enhance product performance but also contribute to a more connected and sustainable future, making Altair a key player in the global technology landscape.
Altair (Nasdaq: ALTR) will announce its Q1 2023 financial results on May 4, 2023, after market close. A conference call is scheduled for 5 p.m. ET the same day, where management will discuss the results and provide an outlook for Q2 and full-year 2023. Investors can access a recorded version of the webcast on the investor relations page.
As a leader in computational science and AI, Altair continues to focus on delivering software and cloud solutions to enhance organizational efficiency across industries. The company aims to support sustainable practices while driving smarter decision-making.
Altair (Nasdaq: ALTR) has launched the Future Says podcast, accessible on major platforms like Spotify, Apple Podcasts, and Google Podcasts. This podcast features experts discussing the intersection of artificial intelligence, high-performance computing, and data analytics. Season one episodes are available, with subsequent seasons releasing weekly, including a focus on the automotive industry. Guests hail from top organizations including Google and Johnson & Johnson, addressing the d digital transformation influencing modern living and working. For updates, audiences can visit the Future Says webpage and Altair's YouTube channel.
Altair (Nasdaq: ALTR) has launched a Global Student Contest running from May 2023 to April 2024. This contest invites students to demonstrate their engineering skills using topology optimization to achieve lightweight designs while maintaining structural integrity. Participants can utilize Altair software, including Altair Inspire, to optimize their projects.
Monthly winners will be announced for each global region, with awards including $750 for the top design and $7,500 for the grand prize winner at the end of the contest. Additionally, categories such as creative presentation and wildcard entries will foster innovation. The contest aims to promote engineering talent and enhance students' skills.
Altair (Nasdaq: ALTR) announced a significant legal victory as the U.S. Court of Appeals for the Federal Circuit affirmed the dismissal of SAS Institute's copyright infringement lawsuit against its subsidiary, World Programming (WPL). This ruling confirms that the SAS language is not proprietary, allowing other companies to develop compilers and environments that support it. Following the acquisition of World Programming in 2021, Altair has introduced the Altair SLC, an alternative environment that runs SAS language code without third-party dependencies. The SLC also supports Python and R, aiming to reduce costs and increase efficiency for users. This legal decision reinforces Altair's commitment to open architecture technology, enabling businesses to modernize their systems and leverage their investments in SAS.
Altair (Nasdaq: ALTR) has launched the Altair #OnlyForward Scholarship at Columbia University's School of Engineering to support 10 undergraduate students pursuing STEM-related degrees. Each recipient will receive $25,000 annually for up to four years, totaling $1 million. This initiative is aimed at students from minority communities, particularly those demonstrating leadership in support of African American and Latino groups, as well as those who are socioeconomically disadvantaged. The first cohort of scholarship recipients will be announced in fall 2023. Altair's CEO, James R. Scapa, emphasized the company's commitment to diversity as crucial to its success.
Altair (Nasdaq: ALTR) has rebranded its entire data analytics and AI suite as Altair RapidMiner, unifying various technologies into one comprehensive platform. This follows the acquisitions of RapidMiner and World Programming. The new platform provides end-to-end solutions, enabling organizations to modernize their data frameworks and operationalize AI initiatives. Key features include the ability to scale AI without a large team, ease of data extraction, modernization of legacy systems, and rapid model production. Additionally, Altair's Units licensing model aims to democratize access to these tools.
Altair (Nasdaq: ALTR) reported record-high revenue for 2022, achieving $572.2 million in total revenue, up 7.5% year-over-year. Software product revenue increased 11.6% to $506.5 million. The fourth quarter alone saw total revenue of $160.4 million, a 13.9% rise from Q4 2021. Net income for 2022 was $(43.4 million), compared to $(8.8 million) in 2021. Non-GAAP net income improved 31.2% to $75.6 million. For Q1 2023, Altair expects software product revenue between $139.0 million and $142.0 million, indicating a slight decline. EBITDA margin is targeted at 20% by the end of 2023.
Altair (Nasdaq: ALTR) has announced the opening of submissions for the 2023 Enlighten Award, which recognizes innovations in sustainability and lightweight design in the automotive sector. Presented annually with the Center for Automotive Research, the award aims to honor advancements that reduce carbon footprints and encourage material reuse. Notably, this year introduces a new category, 'Responsible AI,' which acknowledges achievements in data analytics for sustainability. Submissions are open until May 31, 2023, with winners revealed at the CAR Management Briefing Seminars on August 1, 2023.
Altair (Nasdaq: ALTR) announced its plans to release financial results for the fourth quarter and fiscal year ending December 31, 2022, on February 23, 2023, after market close. A conference call will take place at 5 p.m. ET on the same day to discuss these results and provide guidance for 2023. Investors and analysts can access the live and recorded webcast at investor.altair.com. Altair is recognized globally for its leadership in computational science and artificial intelligence, offering innovative solutions across various industries.
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