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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 renewed its OEM agreement with Hewlett Packard Enterprise (HPE), enhancing its Altair PBS Professional workload manager for HPE's HPC systems, including the HPE Apollo and Cray supercomputers. This collaboration aims to provide improved throughput, support for high-performance workloads, and optimized budget control. Altair's Chief Technology Officer emphasized the value delivered to HPC users through this partnership. The renewed commitment ensures immediate benefits from the latest PBS Professional functionalities.
Altair (NASDAQ: ALTR) announced that Howard Morof, CFO, and David Simon, CAO, will present virtually at the Deutsche Bank Technology Conference on September 14, 2020, at 10:05 a.m. ET. A live webcast and replay will be accessible on the company’s investor relations website. Altair is a global technology company specializing in software and cloud solutions for product design, high-performance computing, and data analytics, aiming to help organizations compete effectively and promote sustainability.
Altair (Nasdaq: ALTR) has joined the Avicenna Alliance, an international consortium dedicated to advancing healthcare through simulation technology. This partnership aims to enhance the development of new medicines and medical devices, making the process faster, more affordable, and ethically sound. Altair will apply its advanced simulation and data analytics expertise, promoting ‘in silico’ medicine while seeking global recognition for its advantages. The alliance, founded in 2016, fosters collaboration among industry, government, and academia to tackle the challenges of traditional pharmaceutical testing.
Altair (Nasdaq: ALTR) announced a significant update to its PBS Professional high-performance computing (HPC) workload manager, enhancing scheduling capabilities to increase throughput by up to tenfold. The update introduces a hierarchical scheduling system, enabling users to manage various workloads efficiently. Key features include massively high throughput scheduling, workload simulation, allocation management for budgeting, and cloud bursting via a user-friendly GUI. These advancements position PBS Professional to better meet the needs of dynamic operational environments.
Altair (Nasdaq: ALTR) announces the winners of the 2020 Altair Enlighten Awards, recognizing automotive innovations aimed at reducing vehicle weight and emissions. The awards highlight advances in lightweighting technologies, with winners including Harley Davidson, Toyota, and Mubea. Key achievements include a 90% reduction in mass for Harley's electric motorcycle and a 75% weight saving for Mubea's Tension Leaf Spring. The awards ceremony took place on August 4, 2020, showcasing Altair's commitment to sustainability and innovation in the automotive sector.
Altair (Nasdaq: ALTR), a global technology company, is set to release its second quarter 2020 financial results on August 6, 2020, post-market. The company will hold a conference call on August 7 at 8:30 a.m. ET to discuss these results. The call can be accessed live via phone or webcast and will include a recorded version available afterward. Altair specializes in software and cloud solutions across product development, high-performance computing, and data analytics, aiming to enhance organizational competitiveness and sustainability.
Altair (Nasdaq: ALTR) announced a multi-year technical partnership with Ducati Corse, enhancing the use of Altair's CAE software in Ducati's racing development. This partnership aims to give Ducati a competitive edge in MotoGP, where engineering precision is critical. The agreement focuses on key areas like aerodynamics and vehicle dynamics, allowing Ducati engineers to optimize designs efficiently. Altair's CEO emphasized the synergy between the two companies, aiming for innovation and excellence in motorcycle racing.
Altair (Nasdaq: ALTR) has unveiled a new version of its Altair Knowledge Studio, enhancing speed, flexibility, and transparency for data modeling and predictive analytics. This upgraded tool integrates automated machine learning (AutoML) to optimize modeling processes, significantly reducing workflow time. Key features include automated Python code generation, data export capabilities, and support for R code versions 4.0 and above. Altair emphasizes responsible AI practices, ensuring users can understand model workings, unlike typical 'black box' solutions.
Toggled iQ, a smart building data management system, has achieved inclusion on the DesignLights Consortium (DLC) Networked Lighting Controls (NLC) qualified products list. This certification allows commercial customers using Toggled iQ products to benefit from utility incentives and rebates, promoting energy efficiency. The rigorous review process ensures that Toggled iQ meets all technical requirements, enhancing its market appeal and providing significant cost savings for customers. Toggled iQ aims to revolutionize smart building technologies by integrating various functions like lighting and HVAC management.
Altair (NASDAQ: ALTR) announced that its chairman and CEO, James Scapa, along with CFO Howard Morof, will present virtually at the Needham Technology & Media Conference on May 20, 2020, at 10:45 a.m. ET. The event will be available via live webcast, with a replay accessible on the company's investor relations website.
Altair specializes in software and cloud solutions for product design, high-performance computing, and data analytics, aiding organizations in achieving competitive advantages and sustainability.
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