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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) reported strong Q2 2022 results, surpassing expectations with a 17.4% increase in software product revenue, reaching $116.9 million. Total revenue grew 10.6% year-over-year to $132.7 million. However, the company reported a net loss of $(33.8) million, worsening from $(13.6) million in Q2 2021, with diluted net loss per share of $(0.43). Altair also revised full-year guidance downward due to adverse foreign exchange impacts.
Altair has announced the winners of the 10th annual Enlighten Award, recognizing advancements in sustainability and lightweighting within the automotive industry. Major winners include Ford for its 2022 F-150 Lightning, and Nemak for its recycled materials in sustainable manufacturing. This year's awards reflect the industry's commitment to reducing carbon footprints and energy consumption, showcasing innovative technologies and practices. The award ceremony took place on August 2, 2022, highlighting key achievements in vehicle design and material reuse.
Altair (Nasdaq: ALTR), a leader in computational science and artificial intelligence, will present at the Oppenheimer 25th Annual Technology, Internet & Communications Conference on August 10, 2022, at 12:25 p.m. ET. CEO James R. Scapa and CFO Matt Brown are scheduled to discuss the company's advancements in software and cloud solutions for simulation, high-performance computing, and data analytics. A live webcast and replay will be available on Altair's investor relations website.
Altair (Nasdaq: ALTR) is set to release its second quarter financial results for the period ending June 30, 2022, on August 4, 2022, after market close. Following the earnings release, the management will host a conference call and webcast at 5 p.m. ET to discuss the results and provide an outlook for the third quarter and the full year 2022. Interested parties can access the replay of the webcast on the company's investor relations website.
Altair (Nasdaq: ALTR) has signed a memorandum of understanding with LG Electronics to enhance digital transformation in product development. This collaboration focuses on creating a simulation platform and sharing research insights in fields such as computer-aided engineering and data analytics. By integrating LG's product development technology with Altair's AI-driven simulation, the partnership aims to minimize physical testing needs, thereby speeding up product development and reducing time-to-market. This initiative is anticipated to bolster LG's competitiveness in smart product development.
Altair (Nasdaq: ALTR) announced the launch of the Altair Unlimited data analytics appliance, a comprehensive, plug-and-play solution built on Dell PowerEdge R750 servers. This appliance aims to democratize data analytics across enterprises, empowering users with enhanced capabilities to drive business results. The offering includes pre-loaded Altair Analytics software and tools such as Altair SLC, SmartWorks Hub, Analytics Workbench, and Access. Altair's partnership with Dell focuses on transitioning businesses from traditional, costly analytics systems to modern, efficient solutions.
Altair (Nasdaq: ALTR) announced the resolution of a long-standing legal dispute with SAS Institute, having paid a 2019 judgment concerning World Programming (WPL). With the court lifting the licensing injunction, Altair can now offer WPL solutions worldwide, allowing clients to integrate modern coding languages like Python and R with SAS. This integration positions Altair as a unique provider with a hybrid approach, enabling customers to utilize existing SAS investments without reprogramming. Key products include Altair SLC, SmartWorks Hub, and Analytics Workbench, all aimed at enhancing data analytics capabilities.
Altair Engineering Inc. (Nasdaq: ALTR) has successfully closed a private offering of convertible senior notes totaling $230 million. The offering consisted of $200 million of 1.750% notes due 2027, with an additional $30 million sold following the exercise of a purchase option by the initial purchaser. The closure of this offering is significant as it strengthens Altair's financial position and supports its ongoing investments in computational science and artificial intelligence.
Toggled, a subsidiary of Altair (Nasdaq: ALTR), has launched the Toggled iQ Fixture Controller, enhancing control over individual lighting fixtures while promoting energy savings. This innovation allows businesses to achieve better lighting experiences and meet sustainability targets. The Fixture Controller will be showcased at LightFair 2022 in Las Vegas from June 19-23. Key benefits include dimming control, integrated installation options, and multiple control methods like daylight harvesting. Toggled emphasizes the importance of smart building solutions for energy efficiency and cost reduction.
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