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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) has acquired Concept Engineering, a leader in electronic system visualization software. This acquisition aims to enhance Altair's capabilities in developing complex electrical systems, allowing improved design and service processes. Concept Engineering's tools, including automatic schematic generation and debug solutions, will integrate into Altair's Electronic System Design suite, benefiting industries such as automotive and aerospace. The deal is expected to streamline engineering processes, saving time and improving product quality for Altair's customers.
Altair (Nasdaq: ALTR) announced the pricing of a $200 million offering of Convertible Senior Notes due 2027. The notes, which bear an interest rate of 1.750% annually, are expected to settle on June 14, 2022. Altair aims to use about $192.4 million of the proceeds to repurchase its 0.250% Convertible Senior Notes due 2024, with the rest allocated for working capital and potential acquisitions. Importantly, the conversion price is set at approximately $71.68 per share, reflecting a 30% premium over the stock's last reported price of $55.14.
Altair (Nasdaq: ALTR) announced its intention to offer $200 million of Convertible Senior Notes due 2027 in a private offering aimed at qualified institutional buyers. The offering may include an additional $30 million in notes. The proceeds will primarily finance the repurchase of existing 2024 notes and support working capital and potential acquisitions. The notes are senior, unsecured obligations with semi-annual interest payments; conversion options include cash or shares of Class A Common Stock. Altair cautions that actual results may vary from forward-looking statements.
Altair (Nasdaq: ALTR) has acquired Gen3D, a UK-based startup known for its innovative implicit geometry technology used in additive manufacturing. This acquisition enhances Altair's capabilities in designing complex geometries and improving manufacturing processes. Gen3D’s generative design tools allow engineers to create intricate designs while minimizing potential manufacturing issues, benefiting various industries such as aerospace and automotive. The integration of Gen3D's technology into Altair Inspire is expected to streamline product development and optimize performance.
Altair (Nasdaq: ALTR) announced that CEO James Scapa and CFO Matt Brown will participate in two upcoming investor conferences. The Nasdaq Investor Conference is set for June 14, 2022, at 3:30 a.m. ET, featuring a presentation format. Following that, they will partake in the Berenberg Thematic Software Conference 2022 on June 15, 2022, at 8:00 a.m. ET, which will take the form of a fireside chat. A live webcast and replay will be available on their investor relations website.
Altair is a leader in computational science and AI, providing innovative solutions for various industries.
Altair (Nasdaq: ALTR) reported strong financial results for Q1 2022, achieving record revenues. Software product revenue reached $140.9 million, a 8.8% increase from Q1 2021. Total revenue surged to $159.8 million, up 6.4%. However, net income fell to $11.5 million from $14.4 million year-over-year. Adjusted EBITDA increased by 26.1% to $46.6 million, with an adjusted EBITDA margin of 29.2%. Guidance for Q2 and full-year 2022 indicates a net loss forecast. Despite high revenue growth, investors should note the decline in net income and lower free cash flow.
TROY, Mich., May 02, 2022 – Altair (Nasdaq: ALTR), a leader in computational science and AI, announced participation in upcoming investor conferences. James Scapa, chairman and CEO, and Matt Brown, CFO, will engage in fireside chats at the following events: 17th Annual Needham Technology & Media Conference on May 16, 2022, at 10:15 a.m. ET, and the J.P. Morgan 50th Annual Global Technology, Media and Communications Conference on May 25, 2022, at 2:30 p.m. ET. Live webcasts will be available on Altair's investor relations website.
Altair (Nasdaq: ALTR) announced the release of its latest software, Simulation 2022, enhancing capabilities in connectivity, AEC, and electronics design. The update includes advanced simulations for antennas and autonomous vehicle systems, improving efficiency and accuracy. Notable features encompass better 5G technology support, enhanced AEC tools compliant with global standards, and expanded functionalities for circuit board design. This release aims to foster sustainable development and innovation in engineering, supporting organizations in achieving smarter product outcomes.
Altair (Nasdaq: ALTR) will announce its first-quarter financial results for 2022 after the market closes on May 5, 2022. The management will hold a conference call at 5 p.m. ET to discuss the results and the outlook for the second quarter and the full year. A replay of the webcast will be available post-call. Altair specializes in computational science and AI, offering software and cloud solutions across various industries, aiming for enhanced decision-making and sustainability.
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