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Overview of Altair Engineeri
Altair Engineeri is a technologically advanced company specializing in simulation technology, engineering software, high‐performance computing (HPC), and data analytics solutions. With a robust pedigree in computational intelligence, the company provides an integrated software suite designed to optimize product design, process efficiency, and decision-making, making it an essential partner for industries focused on innovation and performance optimization.
Core Business and Capabilities
At the heart of Altair Engineeri's operations is its commitment to developing advanced simulation and modeling tools. Its integrated suite covers a broad range of functionalities including:
- Simulation & Modeling: Software tools that simulate physical phenomena across multiple disciplines such as structural behavior, fluid dynamics, thermal management, and system dynamics.
- Product Design & Optimization: Solutions that enable cross-disciplinary product design from concept to in-service operation by leveraging optimization engines and solvers.
- High-Performance Computing: Cloud-based and HPC solutions that facilitate complex simulations and data-intensive applications, ensuring faster time-to-insight and efficient resource management.
- Data Analytics and Artificial Intelligence: Platforms that integrate machine learning, generative AI, and advanced data visualization to transform raw data into actionable knowledge.
Business Model and Market Position
Altair Engineeri predominantly generates revenue through its software segment by offering enterprise-class engineering tools on a licensing basis. In addition, the firm provides client engineering services that support customers through implementation, consulting, and technical support. This dual-channel model reinforces its market position and caters to a broad customer base ranging from major corporations to innovative startups in diverse industries.
Industry Applications and Impact
The company's technology is widely applicable across several sectors. It is instrumental in:
- Automotive and Aerospace: Enhancing vehicle performance through simulation-based design and the development of lighter, more efficient components.
- Government and Defense: Providing robust simulation and data analytics tools to improve decision-making and operational readiness.
- Consumer Products and Life Sciences: Innovating product development cycles with rapid prototyping and optimization solutions.
- Financial Services and Energy: Facilitating data-driven approaches to risk management and operational efficiency through advanced analytics.
Technological Advancements and Collaborations
Altair Engineeri continues to drive innovation by adopting cutting-edge research in areas such as quantum computing for computational fluid dynamics (CFD) and integrating advanced simulation techniques with AI-powered automation. The company regularly collaborates with leading universities, technology partners, and industry specialists to remain at the forefront of engineering software development. These initiatives not only enhance its product portfolio but also establish its credibility and technical expertise in the competitive landscape.
Expertise and Operational Excellence
With a heritage spanning several decades, Altair Engineeri combines a deep understanding of physics, engineering, and computational methods to deliver solutions that are both innovative and reliable. The quality of its offerings is underpinned by rigorous methodologies, extensive testing, and continuous improvement practices. This comprehensive approach ensures that clients achieve a competitive advantage by transforming complex data and engineering challenges into streamlined, effective solutions.
Summary
Altair Engineeri is a pivotal enabler of digital transformation in engineering and design. By marrying simulation technology with data analytics, HPC, and AI, the company empowers organizations to optimize their product lifecycles, reduce development costs, and accelerate time-to-market. It stands as a trusted resource in the global technology and manufacturing ecosystem, offering tools that drive smarter decisions and facilitate innovative breakthroughs across multiple industries.
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.
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.
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