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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 Powersim, specializing in simulation and design tools for power electronics. This strategic move enhances Altair's electronic system design capabilities, particularly in electric motor design. The acquisition includes Powersim's flagship product, PSIM, known for its rapid simulation speed and accurate system-level results. Powersim's technology aims to reduce development costs and time-to-market for various sectors including automotive and aerospace. The integration of Powersim's software into Altair's offerings is set to expand its market reach.
Altair (Nasdaq: ALTR) reported a strong financial performance for 2021, with software product revenue growth of 15.8%, reaching $453.7 million. Total revenue for the year was $532.2 million, up from $469.9 million in 2020. Despite a net loss of $(8.8) million, adjusted EBITDA improved to $85.3 million. In Q4 2021, software product revenue increased to $122.4 million, while total revenue grew to $140.8 million. The company projects Q1 2022 software product revenue between $134.0 million and $137.0 million.
Altair (Nasdaq: ALTR) announced that its CEO James R. Scapa and CFO Matt Brown will present at the Berenberg Thematic Software Conference on March 1, 2022, at 12:00 p.m. EST. The presentation will be in a fireside chat format and will focus on the company’s advancements in computational science and artificial intelligence. A live webcast of the event will be available on Altair's investor relations website, allowing investors to stay informed about the company's strategic direction and industry insights.
Altair (Nasdaq: ALTR) announced the acquisition of Cassini, enhancing its Altair One platform aimed at Industry 4.0. This strategic move will improve digital thread solutions, allowing for streamlined product development and better management of product lifecycles. Cassini, led by Raghuram Tera, brings innovative cloud-native technology and a skilled team to Altair. The integration is expected to offer enhanced simulation capabilities and provide clients with a comprehensive view of digital activities, ultimately driving value for various engineering roles.
Altair (Nasdaq: ALTR) will release its financial results for Q4 and fiscal year 2021 on February 24, 2022, after market close. The management team will hold a conference call at 5 p.m. ET to discuss these results and provide an outlook for 2022. The event is accessible via a live webcast, and a recorded version will be available afterward on their investor relations website.
Altair (Nasdaq: ALTR) has opened submissions for the 2022 Enlighten Award, marking its tenth year of recognizing automotive sustainability innovations. This award, given in partnership with the Center for Automotive Research, showcases advancements in vehicle lifecycle decarbonization. Categories include Sustainable Product, Sustainable Process, and Enabling Technology. Notable past winners include GM, Ford, and Toyota. Submissions are due by May 31, 2022, with winners announced at the CAR Management Briefing Seminars on August 2, 2022.
Altair (Nasdaq: ALTR) has launched a free edition of Altair PollEx for Altium users, enhancing electronic system design capabilities for printed circuit board (PCB) designers. This tool integrates board-level simulation and design verification, significantly improving the predictability and manufacturability of PCB designs. The official announcement was made at AltiumLive on January 26, 2022, with Altair expressing excitement over expanding access to advanced simulation technology. Altair PollEx for Altium is positioned to accelerate design cycles and foster innovation among PCB designers.
Altair (Nasdaq: ALTR) has partnered with Hewlett Packard Enterprise (HPE) in a multi-year agreement to integrate Altair's high-performance computing (HPC) software suite with HPE's HPC systems. This collaboration aims to enhance next-generation supercomputing capabilities, featuring tools like Altair PBS Professional for efficient job scheduling and management. The partnership will provide users with access to advanced solutions tailored for complex HPC tasks, supporting fields such as modeling, machine learning, and deep learning, ultimately optimizing resource utilization and productivity.
Altair (Nasdaq: ALTR) announced that CEO James Scapa and CFO Matt Brown will present at the 24th Annual Needham Growth Conference on January 12, 2022, at 11:20 a.m. ET. The fireside chat will be available via a live webcast on the company’s investor relations website. Altair specializes in software and cloud solutions focused on simulation, high-performance computing (HPC), and artificial intelligence (AI), aiming to enhance competitiveness and sustainability across various industries.
Altair (Nasdaq: ALTR) has acquired World Programming, a UK-based firm specializing in data analytics software, enhancing its capabilities in modern languages and open-source technologies. This acquisition supports companies in transitioning to hybrid architectures while preserving the SAS language. World Programming's flagship product, WPS Analytics, enables execution of multi-language software solutions, helping approximately 500 global enterprise customers. This strategic move strengthens Altair's presence in various industries, including healthcare and finance, by providing an integrated data analytics solution.
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