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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) announced robust financial results for Q1 2021, achieving record software revenue of $129.5 million, up 19.5% year-over-year. Total revenue reached $150.2 million, a 14.2% increase. Net income surged 138% to $14.4 million, with diluted EPS rising to $0.18. Adjusted EBITDA improved 70.5% to $37.0 million, reflecting a margin of 24.6%. The company affirms strong future growth, providing Q2 guidance for software product revenue between $92.0 to $95.0 million.
Altair (Nasdaq: ALTR) has entered a technical partnership with the Aston Martin Cognizant Formula One™ Team to enhance their high-performance computing (HPC) capabilities. The Aston Martin team will utilize Altair Grid Engine™ to manage intensive workloads, optimizing their compute infrastructure. This partnership enables a 97 percent utilization rate of HPC resources and processes 10 terabytes of data daily. The collaboration aims to improve design efficiency in Formula One, allowing for rapid and informed decision-making during races.
Altair (Nasdaq: ALTR) has announced an Investor Day scheduled for May 27, 2021, from 10 a.m. to 12:30 p.m. ET. The event will focus on the convergence of simulation, high-performance computing (HPC), and artificial intelligence (AI). Key presentations will be delivered by prominent executives, including CEO James R. Scapa and CFO Matt Brown. Attendees can access a live video webcast as well as a recorded version post-event on the company's website.
For more details, visit investor.altair.com.
Altair (ALTR) will announce its Q1 2021 financial results on May 6, 2021, after market close. A conference call is scheduled for 5:00 p.m. ET, where management will discuss the results and provide insights into Q2 and full-year 2021 guidance. Investors can access a recorded version of the call post-event. The announcement highlights Altair's ongoing commitment to transparency in its financial performance and strategy in simulation, HPC, and AI solutions.
Altair (Nasdaq: ALTR) announces its Global HPC Summit on May 11-12, 2021, focusing on innovations in high-performance computing (HPC), simulation, and artificial intelligence. The virtual event will feature industry leaders such as Intel, NVIDIA, and Google, exploring advanced workload management and various HPC dimensions. Altair emphasizes recent advancements in HPC solutions, predicting increased demand as businesses adapt to new operational norms.
Altair (Nasdaq: ALTR) has announced the successful transition of its Chief Financial Officer, with Matthew Brown succeeding Howard Morof. Brown joined Altair in January 2021 and takes over during a strategic period for the company. Additionally, Brian Gayle, a senior vice president with over five years at Altair, will succeed Morof as the Principal Accounting Officer. This leadership change underscores Altair's commitment to strong financial management as it continues to provide innovative software and cloud solutions across various industries.
Altair (Nasdaq: ALTR) is collaborating with Italy's Gruppo Cimbali to integrate digital twin technology into their coffee machine development. This partnership enhances product performance through a blend of data-driven and physics-based modeling, resulting in reduced physical testing, quicker market delivery, and improved energy efficiency. Gruppo Cimbali's commitment to innovation is emphasized, as they leverage Altair's tools to embrace digital transformation, leading to smarter, more connected coffee machines. This initiative signifies a key advancement in the coffee industry.
Altair (ALTR) reported record financial results for Q4 and the full year 2020, with software product revenue rising 12% to $113.6 million for Q4. Total revenue increased to $133.4 million, leading to a net income of $2.2 million compared to a net loss in Q4 2019. For the full year, software revenue reached $391.7 million, while total revenue was $469.9 million, albeit with an annual net loss of $10.5 million. The company projects Q1 2021 software revenue between $118.0 million and $120.0 million, and a full year revenue of $502.0 million to $510.0 million.
Altair has acquired Flow Simulator from GE Aviation, a software that enables flow, heat transfer, and combustion design simulations. This acquisition allows Altair to enhance its software capabilities, facilitating mixed fidelity simulations for various industries including automotive and renewable energy. The deal includes a memo of understanding for a long-term partnership to explore further innovations. With a focus on system-level design, this strategic engagement aims to expand Altair's market reach while optimizing complex thermal system models.
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