Altair Announces Second Quarter 2020 Financial Results

Financial Results

The following table provides a reconciliation of Non-GAAP net (loss) income and Non-GAAP net (loss) income per share - diluted to net (loss) income and net (loss) income per share – diluted, the most comparable GAAP financial measures:

  (Unaudited) 
    Three Months Ended June 30,     Six Months Ended June 30,  
(in thousands, except per share amounts)   2020     2019     2020     2019  
Net (loss) income $(10,223) $(3,120) $(4,193) $9,899 
Stock-based compensation expense  4,534   2,080   7,705   3,292 
Amortization of intangible assets  3,692   3,600   7,532   7,128 
Special adjustments (1)  578   776   578   1,004 
Income tax effect of non-GAAP adjustments     (280 )     (175 )     (662 )     (415 )
Non-GAAP net (loss) income   $ (1,699 )   $ 3,161     $ 10,960     $ 20,908  
                                 
Net (loss) income per share - diluted   $ (0.14 )   $ (0.04 )   $ (0.06 )   $ 0.13  
Non-GAAP net (loss) income per share - diluted   $ (0.02 )   $ 0.04     $ 0.14     $ 0.27  
                                 
GAAP diluted shares outstanding:     72,999       71,373       72,811       77,017  
Non-GAAP diluted shares outstanding:     80,700       77,700       80,700       77,700  

(1) Includes $0.6 million of severance expense for the three and six months ended June 30, 2020. Includes $0.8 million and $1.0 million of impairment charges for royalty contracts for the three and six months ended June 30, 2019, respectively.

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