| The following table provides a reconciliation of Non-GAAP Total Revenue to Total Revenue, the most comparable GAAP financial measure (in millions): | ||||||||||||
| (Unaudited) | ||||||||||||
| Three months ending | Year ending | |||||||||||
| March 31, 2019 | December 31, 2019 | |||||||||||
| low | high | low | high | |||||||||
| Total Revenue (GAAP) | $ | 123.0 | $ | 125.0 | $ | 470.0 | $ | 474.0 | ||||
| Software licenses deferred revenue fair value adjustment (1) | 2.2 | 2.2 | 9.0 | 9.0 | ||||||||
| Non-GAAP Total Revenue | $ | 125.2 | $ | 127.2 | $ | 479.0 | $ | 483.0 | ||||
| (1) Adjustment for revenue impact of the Datawatch deferred revenue purchase accounting haircut required by U.S. GAAP | ||||||||||||
| The following table provides a reconciliation of Non-GAAP Software Product Revenue to Total Software Product Revenue, the most comparable GAAP financial measure (in millions): | ||||||||||||
| (Unaudited) | ||||||||||||
| Three months ending | Year ending | |||||||||||
| March 31, 2019 | December 31, 2019 | |||||||||||
| low | high | low | high | |||||||||
| Total Software Product Revenue (GAAP) | $ | 99.0 | $ | 101.0 | $ | 373.0 | $ | 377.0 | ||||
| Software licenses deferred revenue fair value adjustment (1) | 2.2 | 2.2 | 9.0 | 9.0 | ||||||||
| Non-GAAP Total Software Product Revenue | $ | 101.2 | $ | 103.2 | $ | 382.0 | $ | 386.0 | ||||
| (1) Adjustment for revenue impact of the Datawatch deferred revenue purchase accounting haircut required by U.S. GAAP | ||||||||||||
| The following table provides a reconciliation of projected net income to projected Non-GAAP net income, the most comparable GAAP financial measure (in thousands): | ||||||||||||
| (Unaudited) | ||||||||||||
| Three months ending | Year ending | |||||||||||
| March 31, 2019 | December 31, 2019 | |||||||||||
| low | high | low | high | |||||||||
| Net income | $ | 10,500 | $ | 12,500 | $ | 18,000 | $ | 22,000 | ||||
| Stock-based compensation expense | 1,500 | 1,500 | 7,000 | 7,000 | ||||||||
| Amortization of intangible assets | 3,800 | 3,800 | 15,200 | 15,200 | ||||||||
| Non-GAAP net income | $ | 15,800 | $ | 17,800 | $ | 40,200 | $ | 44,200 | ||||
| The following table provides a reconciliation of projected Adjusted EBITDA to projected net income, the most comparable GAAP financial measure (in thousands): | ||||||||||||
| (Unaudited) | ||||||||||||
| Three months ending | Year ending | |||||||||||
| March 31, 2019 | December 31, 2019 | |||||||||||
| low | high | low | high | |||||||||
| Net income | $ | 10,500 | $ | 12,500 | $ | 18,000 | $ | 22,000 | ||||
| Income tax expense | 2,500 | 2,500 | 3,900 | 3,900 | ||||||||
| Stock-based compensation expense | 1,500 | 1,500 | 7,000 | 7,000 | ||||||||
| Interest expense | - | - | - | - | ||||||||
| Depreciation and amortization | 5,600 | 5,600 | 22,200 | 22,200 | ||||||||
| Interest income and other non-recurring adjustments | 700 | 700 | 900 | 900 | ||||||||
| Software licenses deferred revenue fair value adjustment (1) | 2,200 | 2,200 | 9,000 | 9,000 | ||||||||
| Adjusted EBITDA | $ | 23,000 | $ | 25,000 | $ | 61,000 | $ | 65,000 | ||||
| (1) Adjustment for revenue impact of the Datawatch deferred revenue purchase accounting haircut required by U.S. GAAP | ||||||||||||
Altair Announces Fourth Quarter and Full Year 2018 Financial Results
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