Altair Announces Fourth Quarter 2020 Financial Results


(1)The twelve months ended December 31, 2020, includes $1.0 million of proceeds from settlements related to a historical acquisition and $0.6 million of severance expense. The twelve months ended December 31, 2019, includes $1.0 million of impairment charges for royalty contracts, $0.6 million of acquisition related costs and $0.4 million of severance expense.

The following table provides a reconciliation of Free Cash Flow to net cash provided by operating activities, the most comparable GAAP financial measure:

 (Unaudited) 
  Three Months Ended
December 31,
   Twelve Months Ended
December 31,
 
(in thousands) 2020   2019   2020   2019 
Net cash provided by operating activities 5,503   1,388   32,882   31,393 
Capital expenditures (2,087)  (1,540)  (6,093)  (9,660)
Free Cash Flow$3,416  $(152) $26,789  $21,733 
                

Business Outlook

Starting with the 2021 guidance presented in this press release (including the reconciliations provided below) and going forward, our definition of Non-GAAP net income now excludes non-cash interest expense and assumes a non-GAAP income tax rate, which approximates our tax rate excluding discrete items and other specific events that can fluctuate from period to period. There are no other changes from our prior definition. We’ve made these changes to reflect how management reviews results of the business and to be more consistent with our peers.

The following table provides a reconciliation of projected Non-GAAP net income to projected net loss, the most comparable GAAP financial measure:

  (Unaudited)  
  Three Months Ending
March 31, 2021
    Year Ending
December 31, 2021
 
(in thousands) Low     High     Low     High  
Net loss $ (5,400 )   $ (4,500 )   $ (44,000 )   $ (38,300 )
Stock-based compensation expense   11,900       11,900       44,500       44,500  
Amortization of intangible assets   4,400       4,400       17,800       17,800  
Non-cash interest expense   2,800       2,800       11,400       11,400  
Special adjustments and other   4,000       5,000       5,000       7,000  
Impact of non-GAAP tax rate   (1,400 )     (1,800 )     2,200       400  
Non-GAAP net income $ 16,300     $ 17,800     $ 36,900     $ 42,800  
                               

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10  Next Page »



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us
ShareCG™ is a trademark of Internet Business Systems, Inc.

Report a Bug Report Abuse Make a Suggestion About Privacy Policy Contact Us User Agreement Advertise