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ALTAIR ENGINEERING INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) | ||||||||||||||||
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Three Months Ended
September 30, |
Nine Months Ended
September 30, | |||||||||||||||
| (in thousands, except per share data) | 2022 | 2021 | 2022 | 2021 | ||||||||||||
| Revenue | ||||||||||||||||
| License | $ | 67,245 | $ | 67,603 | $ | 256,102 | $ | 230,630 | ||||||||
| Maintenance and other services | 36,520 | 34,686 | 105,453 | 100,758 | ||||||||||||
| Total software | 103,765 | 102,289 | 361,555 | 331,388 | ||||||||||||
| Software related services | 6,706 | 7,650 | 23,143 | 23,229 | ||||||||||||
| Total software and related services | 110,471 | 109,939 | 384,698 | 354,617 | ||||||||||||
| Client engineering services | 7,355 | 10,060 | 22,414 | 31,005 | ||||||||||||
| Other | 1,525 | 1,308 | 4,676 | 5,760 | ||||||||||||
| Total revenue | 119,351 | 121,307 | 411,788 | 391,382 | ||||||||||||
| Cost of revenue | ||||||||||||||||
| License | 2,579 | 4,694 | 11,386 | 13,706 | ||||||||||||
| Maintenance and other services | 13,025 | 11,770 | 38,628 | 35,368 | ||||||||||||
| Total software * | 15,604 | 16,464 | 50,014 | 49,074 | ||||||||||||
| Software related services | 5,240 | 5,707 | 16,739 | 17,560 | ||||||||||||
| Total software and related services | 20,844 | 22,171 | 66,753 | 66,634 | ||||||||||||
| Client engineering services | 5,835 | 7,982 | 18,390 | 25,163 | ||||||||||||
| Other | 1,230 | 1,348 | 3,892 | 5,072 | ||||||||||||
| Total cost of revenue | 27,909 | 31,501 | 89,035 | 96,869 | ||||||||||||
| Gross profit | 91,442 | 89,806 | 322,753 | 294,513 | ||||||||||||
| Operating expenses: | ||||||||||||||||
| Research and development * | 48,781 | 35,839 | 138,352 | 112,872 | ||||||||||||
| Sales and marketing * | 39,244 | 30,589 | 114,042 | 94,568 | ||||||||||||
| General and administrative * | 24,677 | 22,196 | 72,613 | 67,983 | ||||||||||||
| Amortization of intangible assets | 6,571 | 4,432 | 18,682 | 13,924 | ||||||||||||
| Other operating income, net | (2,835 | ) | (1,324 | ) | (9,383 | ) | (2,526 | ) | ||||||||
| Total operating expenses | 116,438 | 91,732 | 334,306 | 286,821 | ||||||||||||
| Operating (loss) income | (24,996 | ) | (1,926 | ) | (11,553 | ) | 7,692 | |||||||||
| Interest expense | 1,566 | 3,037 | 2,851 | 8,998 | ||||||||||||
| Other expense, net | 2,107 | 124 | 26,082 | 1,667 | ||||||||||||
| Loss before income taxes | (28,669 | ) | (5,087 | ) | (40,486 | ) | (2,973 | ) | ||||||||
| Income tax expense | 4,579 | 3,022 | 15,008 | 4,424 | ||||||||||||
| Net loss | $ | (33,248 | ) | $ | (8,109 | ) | $ | (55,494 | ) | $ | (7,397 | ) | ||||
| Loss per share: | ||||||||||||||||
| Net loss per share attributable to common stockholders, basic | $ | (0.42 | ) | $ | (0.11 | ) | $ | (0.70 | ) | $ | (0.10 | ) | ||||
| Net loss per share attributable to common stockholders, diluted | $ | (0.42 | ) | $ | (0.11 | ) | $ | (0.70 | ) | $ | (0.10 | ) | ||||
| Weighted average shares outstanding: | ||||||||||||||||
| Weighted average number of shares used in computing net loss per share, basic | 79,207 | 75,750 | 79,205 | 75,226 | ||||||||||||
| Weighted average number of shares used in computing net loss per share, diluted | 79,207 | 75,750 | 79,205 | 75,226 | ||||||||||||
Altair Announces Third Quarter 2022 Financial Results
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