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Altair Engineering Inc. - ALTR STOCK NEWS

Welcome to our dedicated page for Altair Engineering news (Ticker: ALTR), a resource for investors and traders seeking the latest updates and insights on Altair Engineering stock.

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.

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Altair announces updates to its simulation portfolio, Simulation 2022.3, focusing on cloud collaboration, efficient workflows, and AI-powered simulation. The updates include improved cloud collaboration and computing through Altair One, seamless digital thread workflows, new capabilities in Altair HyperMesh, Inspire, and SimLab, and enhanced AI-powered simulation for superior designs.
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Altair's survey reveals high adoption of digital twin technology in the automotive industry and its impact on sustainability objectives. 76% of automotive respondents have already adopted digital twin technology, but only 35% consider themselves highly knowledgeable about it. 92% of automotive respondents using digital twin technology reported that it helps create more sustainable products and processes. Digital twin solutions also contribute to cost reduction, better product development, and improved quality. There is a desire for more education and adoption of digital twin technology in the automotive industry.
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Altair to participate in fireside chats at investor conferences
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On April 25, 2023, Altair (Nasdaq: ALTR) launched Altair SimSolid Cloud, a cloud-native structural simulation software that allows users to perform structural analysis directly from their web browser. This innovative tool eliminates the need for complex geometry simplification and meshing, enabling results in seconds to minutes. Key features include mesh-free technology, comprehensive physics support, and an extensive material library, catering to design engineers and analysts across various industries like industrial machinery, construction, and consumer products. Available through Altair One, it offers flexible subscription options, making advanced engineering tools accessible without heavy investments in hardware.

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FAQ

What is the current stock price of Altair Engineering (ALTR)?

The current stock price of Altair Engineering (ALTR) is $109 as of December 20, 2024.

What is the market cap of Altair Engineering (ALTR)?

The market cap of Altair Engineering (ALTR) is approximately 9.2B.

What does Altair Engineering Inc. specialize in?

Altair Engineering Inc. specializes in computational intelligence, providing enterprise-class engineering software for simulation, high-performance computing, data analytics, and artificial intelligence.

How many employees does Altair have?

Altair employs more than 2,500 people across 45 offices in 24 countries.

In which industries does Altair have a significant presence?

Altair has a significant presence in industries such as automotive, aerospace, government and defense, consumer products, life sciences, financial services, and energy markets.

What are Altair's main business segments?

Altair operates through two main segments: Software and Client Engineering Services.

What recent acquisitions has Altair made?

Recent acquisitions include Cambridge Semantics, enhancing data analytics and AI offerings, and Research in Flight, bolstering computational fluid dynamics capabilities.

What financial performance did Altair report for the full year of 2023?

For the full year of 2023, Altair reported total revenue of $612.7 million, marking a 7.1% increase from the previous year.

What is Altair SimSolid for electronics?

Altair SimSolid for electronics is a tool for multi-physics simulation, designed to enhance the simulation of PCBs and ICs without the need for geometry simplification or meshing.

What certification did Altair recently achieve for information security?

Altair achieved the ISO/IEC 27001:2022 certification, demonstrating its commitment to global information security standards.

What is the ATCx AI for Engineers 2024 event?

The ATCx AI for Engineers 2024 is a global virtual event organized by Altair to explore the transformative potential of AI in design, simulation, and manufacturing.

Where can I find more information about Altair's financial results and upcoming events?

More information can be found on Altair's investor relations website at http://investor.altair.com.

Altair Engineering Inc.

Nasdaq:ALTR

ALTR Rankings

ALTR Stock Data

9.21B
58.39M
2.27%
109.77%
3.7%
Software - Infrastructure
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