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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) has announced its flagship virtual event, Future.Industry 2023, scheduled for March 8-9. The event will focus on key megatrends and the convergence of simulation, high-performance computing (HPC), AI, and data analytics. It aims to demonstrate how these technologies can maximize organizational technology investments. Featured speakers include experts from various fields, discussing topics ranging from consumer trends to the impact of leadership computing on science. Future.Industry 2023 will cater to global audiences with live translations in multiple languages. Registration details are available online.
On January 31, 2023, Altair (Nasdaq: ALTR) announced that Airbus Commercial has adopted Altair SimSolid as part of its ZEROe initiative to develop the first zero-emission commercial aircraft. Altair SimSolid is a simulation technology that significantly accelerates structural analyses, reducing delivery times from days to minutes for basic tasks and from months to under a week for complex assemblies. This partnership is expected to enhance design iteration capabilities, streamline engineering processes, and promote sustainability in aerospace innovation. Airbus aims to achieve a hydrogen propulsion system technology readiness level by 2025.
Altair (Nasdaq: ALTR) has entered a multiyear campuswide license agreement with TU Delft, providing access to simulation, data analytics, and high-performance computing for nearly 30,000 students and faculty. This agreement includes over 1 million Altair Units, enabling extensive use of Altair's software solutions. The partnership highlights TU Delft's commitment to top-tier technology in education and research. It also complements the recent installation of DelftBlue, a supercomputer designed to meet the growing computational needs for complex problem-solving. The collaboration aims to enhance educational and research outcomes.
On January 17, 2023, Altair (Nasdaq: ALTR) announced a significant partnership with Soltec, a solar equipment manufacturer in Spain. Under this agreement, Soltec will implement Altair's full suite of technology solutions in its R&D division. This collaboration aims to enhance Soltec’s capabilities in developing and optimizing solar technology, particularly solar trackers. The CEO of Altair emphasized the company's commitment to sustainability and innovation, while Soltec highlighted the advantages of using Altair's unique licensing system for improved software access and cost efficiency. The partnership underscores both companies' focus on advancing renewable energy solutions.
Altair (Nasdaq: ALTR) announced the launch of its updated Simulation 2022.2 software, enhancing cloud elasticity, scalability, and electronic systems development. Key improvements include a flexible user experience through Altair One, enabling access to essential tools and resources from various devices. The update streamlines product development with better integration for electronic systems and improved modeling capabilities, helping teams reduce costs and time-to-market. These advancements position Altair as a leader in AI and computational science, supporting businesses in making informed decisions throughout the product lifecycle.
On Dec. 20, 2022, Altair (Nasdaq: ALTR) announced a $10 million investment in Xscape Photonics, a startup specializing in photonic chips for high-bandwidth connections in data centers and high-performance computing (HPC). This collaboration aims to enhance computing efficiency while reducing power consumption and heat. James R. Scapa, Altair's CEO, stated that this investment aligns with their commitment to advanced technologies. Scapa will join Xscape's board, emphasizing the partnership's potential to drive innovation in the HPC and AI sectors.
Altair (Nasdaq: ALTR) has partnered with the U.S. Department of Energy's Argonne National Laboratory to deploy its PBS Professional workload manager on the Polaris supercomputer. This technology aims to enhance scientific research capabilities, particularly in addressing energy crises through advancements in fusion energy, biofuels, and safer nuclear reactors. By managing thousands of node hours concurrently, PBS Professional accelerates research by hundreds of hours. The upcoming Aurora supercomputer will further leverage this technology, potentially achieving two quintillion operations per second.
Altair (Nasdaq: ALTR) reported third-quarter results exceeding expectations, with total revenue of $119.4 million, a slight decrease from $121.3 million in Q3 2021, but a 6.3% increase in constant currency. Software product revenue rose to $103.8 million, reflecting a 10.1% constant currency growth. Despite a net loss of $(33.2) million, Altair raised its full-year guidance due to strong demand and operational performance. Non-GAAP net income was $4.3 million, a 55.7% drop year-over-year. The company is optimistic about future quarters, with guidance for Q4 software revenue between $126 million and $131 million.
On November 2, 2022, Altair (Nasdaq: ALTR) appointed Ravi Kunju as its new Chief Product and Strategy Officer. In this role, he will oversee the strategy, vision, and marketing of Altair's products. Kunju has nearly 25 years of experience with the company, having held several leadership positions, including Senior Vice President of Business Strategy. CEO James R. Scapa emphasized the importance of strategic solutions in a competitive market, highlighting Kunju's integral role in innovation and customer problem-solving.
Altair (Nasdaq: ALTR) announced CFO Matt Brown will present at the RBC Capital Markets Global Technology, Internet, Media, and Telecommunications Conference on November 15, 2022, at 10 a.m. ET. The presentation will be available via a live webcast and replay on the company's investor relations website. With a focus on computational science and artificial intelligence, Altair offers software and cloud solutions for simulation, high-performance computing, and data analytics, assisting organizations in driving smarter decisions for a sustainable future.
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