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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) will release its financial results for Q2 2021 on August 5, 2021, after market close. Management will hold a conference call at 5:00 p.m. ET to discuss results and provide an outlook for Q3 and the full year. The call can be accessed via live audio webcast at investor.altair.com. A recorded version will be available post-call. This event marks a significant opportunity for investors to gauge the company’s performance in simulation, high-performance computing, and AI sectors.
Altair (Nasdaq: ALTR) announced the appointment of Shekar Ayyar to its board of directors, filling the vacancy left by Richard Hart's resignation. Ayyar, with over 25 years of experience in consulting and technology, previously held leadership roles at VMware and other tech firms. His expertise in scaling technology businesses is expected to contribute positively to Altair's growth strategy. Ayyar expressed enthusiasm for joining the board, citing Altair's innovative capabilities in simulation, HPC, and AI as key drivers for future success.
Altair (Nasdaq: ALTR) announced the launch of Altair SmartWorks, a next-generation cloud-native platform aimed at enhancing data-driven decision-making through AI and IoT. SmartWorks unifies analytics, is customizable, and offers a low-code environment enabling collaboration across teams. Key features include end-to-end data analytics, AI model training, and operationalizing machine learning at scale. The platform is designed for enterprise-grade challenges and provides flexibility in deployment. Its subscription-based model optimizes costs for users, addressing diverse business needs.
On June 2, 2021, Altair (Nasdaq: ALTR) elected Jim F. Anderson to its board of directors during the annual stockholder meeting. Anderson brings over 25 years of IT experience, currently serving as a managing director at Google Cloud and has previously held executive roles at major companies like Hewlett Packard and Cisco Systems. His expertise in scaling enterprise-level businesses is expected to enhance Altair’s strategic direction in simulation, high-performance computing, and AI. Anderson expressed excitement about contributing to Altair's growth.
Altair (Nasdaq: ALTR), a leading global technology firm focusing on simulation, high-performance computing (HPC), and artificial intelligence (AI), announced that CEO James Scapa and CFO Matt Brown will participate in a virtual fireside chat at the Berenberg 2021 Design Software Conference on June 15, 2021. The session is scheduled for 10 a.m. EDT / 3 p.m. BST. A live webcast and a replay will be available on Altair’s investor relations website.
Altair (Nasdaq: ALTR) announced on May 26, 2021, the release of advanced simulation solutions, including comprehensive computational fluid dynamics (CFD) and enhanced electronic system design (ESD) capabilities. Key updates comprise a single license for all major CFD tools, improved thermal management workflows, and zero-download simulation in the cloud via Altair One. The new offerings aim to streamline product development and enhance collaboration among engineering teams. Altair's cloud services ensure scalability and flexibility, supporting a range of applications across major cloud providers.
Altair (Nasdaq: ALTR) will host the Future.AI event from June 15-17, 2021, focusing on advancements in analytics and AI across various industries. The event aims to inspire leaders in manufacturing, banking, healthcare, and more by showcasing how data analytics can drive business success. Keynote speakers include experts from NVIDIA, Intel, and Google, with discussions on digital transformation strategies. Attendees will learn from industry leaders about operationalizing AI to enhance competitiveness.
Altair (Nasdaq: ALTR) has adjourned its 2021 Annual Meeting of Stockholders to allow shareholders more time to review a proposal to nominate Dr. Mary Boyce and Jim F. Anderson to its Board of Directors. The meeting is rescheduled for June 2, 2021, at 1:00 p.m. ET, accessible via a virtual platform. The record date for the meeting is March 25, 2021. Altair specializes in software and cloud solutions across simulation, high-performance computing, data analytics, and artificial intelligence, empowering organizations for competitive advantage.
Altair (Nasdaq: ALTR) announced the participation of James Scapa (CEO) and Matt Brown (CFO) in virtual fireside chats at two upcoming investor conferences. The events include the J.P. Morgan 49th Annual Global Technology, Media and Communications Conference on May 24, 2021, at 11 a.m. ET, and the William Blair Growth Stock Conference on June 2, 2021, at 10:20 a.m. ET. A live webcast and replay will be available on the company's investor relations website.
Altair specializes in simulation, high-performance computing, and artificial intelligence solutions, helping organizations in a connected world.
Altair (Nasdaq: ALTR) announced the general availability of Altair One, a cloud-integrated platform enhancing collaboration and accelerating project timelines. This platform unifies simulation, high-performance computing (HPC), and AI capabilities, enabling multidisciplinary teams to efficiently manage complex projects without in-house HPC infrastructure. Key features include scalable cloud resources, seamless workload migration, and AI-enabled analytics. Altair One promotes data-driven development, allowing users to easily provision resources across major cloud providers, significantly improving productivity and resource utilization.
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