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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) will announce its third quarter financial results for the period ending September 30, 2022, on November 3, 2022, post-market close. A conference call will follow at 5 p.m. ET to discuss these results along with the fourth quarter and full-year 2022 outlook. Interested parties can access a recorded version of the webcast after the live session via the investor relations website.
Altair specializes in computational science and AI, providing innovative software and cloud solutions for various industries.
Altair (Nasdaq: ALTR) has launched a comprehensive digital twin solution that offers connected, cross-functional capabilities usable at any stage of a product lifecycle. This solution empowers organizations to design, develop, and optimize products efficiently, leveraging advanced technologies like AI, high-performance computing, and data analytics. Altair’s flexible, vendor-agnostic framework enables deployment on-site or via cloud, optimizing costs through a units-based licensing model. This initiative aims to democratize access to digital twin technology across diverse industries, enhancing collaboration and reducing silos.
Altair (Nasdaq: ALTR) has released its latest software update, Simulation 2022.1, designed to enhance sustainable product development. This update leverages advanced simulation, cloud-based computing, and optimization to foster cleaner product lifecycles. Key features include improvements in the Altair Material Data Center, OptiStruct, and HyperWorks tools, enabling companies to optimize designs while meeting regulatory and budget requirements. Notably, Radioss is now available as an open-source solver, promoting community collaboration for safer, greener innovations.
On September 16, 2022, Altair (Nasdaq: ALTR) announced the successful acquisition of RapidMiner, a prominent player in advanced data analytics and machine learning software. This acquisition enhances Altair's existing end-to-end data analytics portfolio by integrating RapidMiner's robust desktop and cloud platforms, thereby empowering clients to better understand and automate their data processes. Altair's strategic move positions the company for continued growth in computational science and artificial intelligence.
Altair has announced its flagship event, Future.Industry 2022, scheduled to feature renowned speakers discussing advances in computational science, AI, and data analytics. The event will showcase notable industry leaders and innovative trends across various technology sectors. Key presentations will include topics such as digital twin technology and smart manufacturing, featuring speakers from organizations like Lucid Motors and Google Cloud. Future.Industry will run live across multiple time zones, providing opportunities for interactive sessions and translations into several languages.
Altair (Nasdaq: ALTR) has announced the acquisition of RapidMiner, a leading platform in advanced data analytics and machine learning software. This strategic move aims to enhance Altair's data analytics portfolio, enabling businesses to leverage machine learning without needing extensive data science expertise. RapidMiner's low-code platform, used by over one million users, will complement Altair's existing offerings and strengthen its position in key sectors such as manufacturing and financial services. The integration aims to deliver a comprehensive, scalable analytics solution for enterprises.
Altair (Nasdaq: ALTR) has announced the global release of OpenRadioss, an open-source version of its proven finite element analysis (FEA) dynamic simulation code, Radioss. This initiative aims to accelerate innovation in industries facing multidisciplinary challenges such as climate change. With over 30 years of successful application in various sectors, OpenRadioss will allow users to modify and share code, thus fostering collaboration. The newly formed OpenRadioss Community will enhance capabilities and dissemination among academia and industry.
Altair (Nasdaq: ALTR), a leader in computational science and AI, announced that CEO James R. Scapa and CFO Matt Brown will participate in a fireside chat at the Rosenblatt 2nd Annual AI Conference on August 25, 2022, at 11:00 a.m. ET. The event will be available for live streaming and replay on Altair's investor relations website.
The company provides software and cloud solutions for simulation, high-performance computing, data analytics, and AI, helping organizations to achieve smarter decisions and sustainability goals.
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