Altair Announces Fourth Quarter and Full Year 2022 Financial Results

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

  (Unaudited) 
   Three Months Ended
December 31,
   Twelve Months Ended
December 31,
 
(in thousands, except per share amounts)  2022   2021   2022   2021 
Net income (loss) $12,065  $(1,397) $(43,429) $(8,794)
Stock-based compensation expense  22,263   13,320   84,787   44,549 
Amortization of intangible assets  8,828   4,433   27,510   18,357 
Non-cash interest expense  467   2,915   1,806   11,428 
Restructuring expense        99             5,053  
Impact of non-GAAP tax rate (1)     (9,468 )     (1,696 )     (11,346 )     (11,740 )
Special adjustments and other (2)     (6,614 )     (1,229 )     16,272       (1,229 )
Non-GAAP net income   $ 27,541     $ 16,445     $ 75,600     $ 57,624  
                         
Net income (loss) per share, diluted   $ 0.14     $ (0.02 )   $ (0.55 )   $ (0.12 )
Non-GAAP net income per share, diluted   $ 0.31     $ 0.19     $ 0.89     $ 0.71  
                         
GAAP diluted shares outstanding:     87,498       79,008       79,472       76,179  
Non-GAAP diluted shares outstanding: (3)     87,498       84,604       85,392       81,159  

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