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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.
Toggled, a subsidiary of Altair (Nasdaq: ALTR), has unveiled its smart building platform, Toggled iQ, aimed at enhancing building management, energy efficiency, and tenant satisfaction while reducing costs. The platform integrates IoT technology to optimize operational efficiency and decrease carbon emissions through smart lighting and sensor connectivity. Toggled iQ can reduce energy consumption by up to 60% with LED retrofits and offers a user-friendly mobile app for real-time control. The innovative system promotes sustainability and simplifies adoption for businesses.
Altair (Nasdaq: ALTR) has launched its 2021.2 simulation software update, enhancing simulation-driven design with AI integration. Key improvements include simplified workflows, faster what-if studies, and a comprehensive Python-based API for automation. The update promotes innovation and collaboration among engineers. Notable features are Altair Pulse for streamlined modeling and AI tools to boost design efficiency. This comprehensive update aims to accelerate decision-making and optimize manufacturing outcomes, providing users with enhanced tools for managing complex systems throughout the product lifecycle.
Altair, a leader in simulation and AI, has launched the Altair Material Data Center (AMDC) consortium to enhance its cloud-based materials information resource. This initiative aims to provide engineers and designers with precise data on various materials, aiding in sustainable product design. New consortium members include notable industry players like Nikola Motors and the National Institute for Aviation Research. The consortium will influence AMDC's growth, ensuring it meets user needs, while providing early access to Altair’s innovations.
Altair (Nasdaq: ALTR) announced a private placement financing of $200 million from Matrix Capital Management, a major stockholder, in exchange for 2,935,564 shares of Class A common stock, with a 1-year lockup period. The financing aims to support Altair's growth as demand for its simulation and high-performance computing solutions increases post-pandemic. The securities will not be registered under the Securities Act, and the company plans to register them within a year. This move illustrates Matrix's confidence in Altair's potential for innovation and product development.
Altair (Nasdaq: ALTR) announced a new channel partner agreement with TrueInsight, based in Sandy, UT, to exclusively offer its simulation, data analytics, and AI software solutions. This partnership aims to enhance customer relationships by providing dedicated support and strategic sales. TrueInsight, founded by industry veterans, has over 25 years of experience selling to U.S. SMBs and is expected to boost growth for both organizations. Altair continues to expand its channel partner community globally, focusing on various industries.
Altair (Nasdaq: ALTR) announced its upcoming global digital experience, Future.Industry, scheduled for October 19-21, 2021, focusing on advances in manufacturing. The event will feature keynotes from industry leaders, including Sheryl Connelly from Ford, and discussions on simulation, high-performance computing, and AI. Attendees can expect interactive sessions, practical applications of Altair technology, and discussions aimed at fostering a sustainable future. The event is complimentary and will cater to a global audience with live translations available in multiple languages.
Altair (Nasdaq: ALTR) announced that CEO James Scapa and CFO Matt Brown will present at the Rosenblatt Technology Summit on August 26, 2021, at 8:00 a.m. ET. This presentation will follow a fireside chat format and will be available for live streaming and replay on the company’s investor relations website. Altair specializes in software and cloud solutions, focusing on simulation, high-performance computing, and artificial intelligence, aiming to help organizations enhance competitiveness and sustainability.
Altair (Nasdaq: ALTR) has acquired S-FRAME Software, a leader in structural analysis software, enhancing Altair's capabilities in the Architecture, Engineering, and Construction (AEC) sector. This acquisition aligns with the industry's projected growth of 14.7% CAGR, reaching $11 billion by 2025. Altair aims to leverage S-FRAME's advanced simulation technologies to support innovative design solutions while adhering to code requirements. The integration will allow architects and engineers to explore creative possibilities and improve safety in construction.
Altair (Nasdaq: ALTR) reported strong financial results for Q2 2021, achieving a 21.7% increase in total revenue, totaling $119.9 million, compared to $98.6 million in Q2 2020. Software product revenue also rose to $99.6 million from $81.8 million, reflecting a similar growth rate. However, the net loss widened to $13.6 million from $10.2 million year-over-year. Adjusted EBITDA increased significantly by 65.2% to $9.5 million, while non-GAAP net income surged 86.8% to $5.6 million. Altair has raised its full-year guidance amid strong customer demand.
Altair, a leader in simulation and AI, announced the winners of the 9th annual Enlighten Award, recognizing sustainable engineering in the automotive industry. Highlighting innovations aimed at reducing CO2 emissions and promoting material recycling, the award emphasizes lightweighting technologies. Notable winners include Ford's all-electric Mustang Mach-E and Faurecia's recyclable polypropylene compound. The awards ceremony took place on August 4, 2021, furthering Altair's mission to support automotive sustainability initiatives.
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