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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) reported strong third-quarter 2020 results with software product revenue increasing by 13% year-over-year to $87.8 million, representing 83% of total revenue of $106.5 million. The company's net loss decreased to $8.5 million, improving from a $15.9 million loss in Q3 2019. Adjusted EBITDA reached $8.2 million compared to a loss of $2.3 million in the prior year. The proactive cost management strategies positively impacted operating expenses. For Q4 2020, Altair forecasts total revenue between $112 million and $117 million, with software product revenue estimated at $95 million to $99 million.
Altair (Nasdaq: ALTR) announces the launch of Inspire Mold, an innovative solution for simulating injection molding, aimed at reducing costs and manufacturing delays in the $250 billion sector. This new tool empowers engineers to conduct faster design iterations, making cost-effective decisions early in the development process. Key features include an optimized user experience, access to materials data for 60 materials, and comprehensive end-to-end technology. Inspire Mold enhances decision-making and minimizes risks associated with defects, improving manufacturability and reducing scrap costs.
Altair (Nasdaq: ALTR) has launched the Altair Material Data Center, a comprehensive database designed for materials used in simulation, including metals, plastics, and composites. This database integrates with various major solvers and is developed to predict product performance efficiently. The initiative follows Altair's acquisition of M-Base, enhancing its resource offering in the plastics sector. The Material Data Center aims to support engineers and designers by providing detailed material information, thereby improving innovation and product lifecycle management.
Altair (Nasdaq: ALTR) has secured an agreement with the Luna Rossa Prada Pirelli team, becoming an official supplier for the 36th America’s Cup. Altair will provide advanced simulation software and engineering services to enhance the design and performance of the AC75 Luna Rossa sailboat.
Using Altair's solutions, the team optimized composite structures, achieving significant weight savings while maintaining structural efficiency. This partnership is expected to grant Luna Rossa a competitive edge in the upcoming race in Auckland.
Altair (Nasdaq: ALTR) will announce its third quarter 2020 financial results on November 5, 2020, after market close. A conference call to discuss the results is scheduled for November 6, 2020, at 8:30 a.m. ET. Investors can access the live call or its replay through the webcast on Altair’s investor website. This quarterly update will provide insights into Altair's performance in data analytics, simulation, and high-performance computing sectors, as the company aims to enhance its strategic position in the market.
Altair (Nasdaq: ALTR) announced the launch of Toggled's second-generation connected T8/T12 retrofit LED lamps, aiming to reduce maintenance needs and enhance functionality. These lamps, available in 2 ft., 3 ft., and 4 ft. sizes, include an internal light sensor for remote status verification and life expectancy predictions. The 4 ft. lamp features a light output increase to 2400 lumens. Toggled iQ technology integrates with existing building management systems, offering smart features like scheduling and occupancy detection.
Altair (Nasdaq: ALTR) has announced the acquisition of M-Base Engineering + Software GmbH, enhancing its offerings with the most comprehensive, high-fidelity plastics database available. This acquisition strengthens Altair’s position in material modeling, allowing for optimized product performance through advanced simulation techniques. M-Base provides extensive plastics material data, crucial for product development and adherence to international standards. Altair aims to leverage M-Base's capabilities to further improve design processes and material selection for engineers.
Altair (Nasdaq: ALTR) announced the acquisition of Ellexus, a top provider of I/O analysis tools, enhancing its HPC capabilities. The Ellexus products, Mistral and Breeze, will be integrated into Altair PBS Works™, improving I/O diagnostics for large enterprises. This acquisition expands Altair's reach in data analytics and modern workloads, supporting critical applications in AI and ADAS. Dr. Rosemary Francis, Ellexus's founder, will join Altair, further strengthening its technical expertise.
Altair (Nasdaq: ALTR) has announced the acquisition of Univa, a leader in enterprise-grade workload management and optimization solutions for high-performance computing (HPC) and artificial intelligence (AI). This strategic move aims to enhance Altair's capabilities in managing workloads across various industries, including life sciences and financial services. The integration of Univa's technology is expected to solidify Altair's leadership in the HPC space and improve service delivery for existing customers. Altair will invest further in Univa's products, particularly the Univa Grid Engine and Navops Launch, to optimize performance and reduce costs.
Altair (Nasdaq: ALTR) will host its 2020 Global Altair Technology Conference (ATC) virtually from October 5-7. The ATC connects industry experts to share innovations in data analytics, engineering, and computing, focusing on advancements in AI, robotics, and healthcare. Keynotes include leaders from Affectiva, Columbia University, and Zyrobotics. The conference promotes collaboration to help organizations adapt and thrive in a digital world. Registration is free, showcasing Altair's commitment to fostering innovation and education.
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