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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 announced a collaboration with HP to integrate HP's proprietary material data into the Altair Material Data Center. This partnership aims to enhance the design and production of 3D-printed parts, particularly for Multi Jet Fusion and Metal Jet printers.
By bridging the gap between design and production, the collaboration will allow engineers to access accurate material property data, improving design efficiency and reducing prototyping time. Additionally, users of Altair Inspire Print3D will benefit from this integration, enabling faster and more accurate design and simulation of additively manufactured parts.
Altair (Nasdaq: ALTR) has been recognized as a Leader in the June 2024 Gartner Magic Quadrant for Data Science and Machine Learning Platforms.
This recognition reflects Altair's completeness of vision and ability to execute, particularly for its Altair RapidMiner offering. Gartner highlights that Leaders in this market have a refined strategy leveraging generative AI (GenAI), ensuring high customer business value.
This prestigious placement validates Altair's strong market position and innovative capabilities in data analytics and machine learning.
Altair (Nasdaq: ALTR), a leader in computational intelligence, has been added to the S&P MidCap 400, effective June 24, 2024. This inclusion marks a significant milestone for Altair, demonstrating its steady growth and leadership in simulation and design, data analytics, AI, and high-performance computing. The S&P MidCap 400 index benchmarks mid-sized companies, highlighting their unique risk and return profiles. CEO James R. Scapa regards this achievement as a testament to Altair's strong market position.
Altair (Nasdaq: ALTR), a leader in computational intelligence, announced the availability of Altair One® on Google Cloud Marketplace. This integration allows users to access advanced simulation, data analytics, and high-performance computing (HPC) capabilities seamlessly. Altair One aims to enhance collaborative engineering and analytical application development. It provides unified access to tools and resources, leveraging AI to optimize product development processes. Google Cloud users can now utilize Altair's Bring Your Own Cloud (BYOC) functionality to run applications efficiently. This collaboration is expected to boost engineering innovations by utilizing Google's scalable cloud infrastructure.
Altair (Nasdaq: ALTR), a global leader in computational intelligence, is the official computational science and AI partner for the NYYC American Magic team in the 37th America's Cup. Altair's technology, including computational fluid dynamics, structural analysis, data analytics, and high-performance computing, significantly improved the yacht design and testing process. The collaboration led to the creation of an advanced "AC75" yacht. The 37th America's Cup begins on August 22, 2024, in Barcelona. Altair's technology was important in expediting the design process, allowing the team to iterate and innovate rapidly, aiming to win the cup in October.
Altair (Nasdaq: ALTR) announces the ATCx AI for Engineers 2024 global virtual event on June 20. This event will gather engineers from design, simulation, and manufacturing to explore AI's transformative potential in product development. Key speakers include professionals from Forrester, Deloitte, Lotus, McKinsey, Renesas Electronics, CNH Industrial, Hero MotoCorp, Daikin, Mabe, and Alcom. A highlight will be the exclusive reveal of Altair's '100 Use Cases for AI-Powered Engineering,' offering practical insights for engineers. Additionally, Sean Martin from Altair will present on integrating data with knowledge graphs. The event will be accessible worldwide with live translations in multiple languages.
Altair (Nasdaq: ALTR), a leader in computational intelligence, announced that its Chief Financial Officer, Matt Brown, will participate in fireside chats at three upcoming investor conferences. These conferences include the William Blair Growth Stock Conference on June 5, 2024, in Chicago, IL at 12:40 p.m. CT, the Baird Global Consumer, Technology & Services Conference on June 6, 2024, in New York, NY at 11:25 a.m. ET, and the NASDAQ London Investor Conference in partnership with Jefferies on June 11, 2024, in London, ENG at 2:00 p.m. BST. A live webcast and replay of these presentations will be available on the company’s investor relations website.
Altair, a leader in computational intelligence, has achieved the ISO/IEC27001:2022 certification, showcasing its commitment to global information security. This certification, audited against the latest frameworks by ISO and IEC, marks a significant milestone for Altair. The certification underscores Altair's dedication to adhering to the highest international security standards, important for enterprise-level clients. Jeff Marraccini, Altair's CISO, emphasized that this achievement is the result of years of effort and investment by their global security teams. The certification covers various modern security requirements, including web filtering, cloud security, and threat intelligence, enhancing Altair's operational excellence and cyber-resilience.
Altair, a global leader in computational intelligence, reported record software revenue and total revenue for the first quarter of 2024, showcasing growth in all major geographies and verticals. The company achieved $158.4 million in software revenue and $172.9 million in total revenue, marking increases from the previous year. Net income saw a significant improvement, reaching $16.5 million compared to a net loss in the same period last year. Altair also provided positive guidance for the second quarter and full year 2024.
Altair, a global leader in computational intelligence, acquired Research in Flight, maker of FlightStream®, a powerful computational fluid dynamics (CFD) software widely used in aerospace, defense, marine, energy, turbomachinery, and automotive industries. FlightStream® enhances aerodynamic analysis with fast computational speeds, low hardware requirements, and unique capabilities like surface vorticity. The acquisition strengthens Altair's portfolio, catering to complex customer demands in aerospace, defense, urban air mobility, and eVTOL sectors.
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