| ALTAIR ENGINEERING INC. AND SUBSIDIARIES | |||||||||||||||
| CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||||||||
| (Unaudited) | |||||||||||||||
|
Three Months Ended
June 30, |
Six Months Ended
June 30, | ||||||||||||||
| (in thousands, except per share data) | 2023 | 2022 | 2023 | 2022 | |||||||||||
| Revenue | |||||||||||||||
| License | $ | 87,738 | $ | 82,688 | $ | 200,147 | $ | 188,857 | |||||||
| Maintenance and other services | 37,583 | 34,205 | 74,817 | 68,933 | |||||||||||
| Total software | 125,321 | 116,893 | 274,964 | 257,790 | |||||||||||
| Software related services | 6,664 | 7,376 | 13,764 | 16,437 | |||||||||||
| Total software and related services | 131,985 | 124,269 | 288,728 | 274,227 | |||||||||||
| Client engineering services | 8,034 | 7,047 | 15,810 | 15,059 | |||||||||||
| Other | 1,142 | 1,340 | 2,657 | 3,151 | |||||||||||
| Total revenue | 141,161 | 132,656 | 307,195 | 292,437 | |||||||||||
| Cost of revenue | |||||||||||||||
| License | 3,981 | 4,120 | 8,805 | 8,807 | |||||||||||
| Maintenance and other services | 13,639 | 12,884 | 28,065 | 25,603 | |||||||||||
| Total software * | 17,620 | 17,004 | 36,870 | 34,410 | |||||||||||
| Software related services | 5,308 | 5,464 | 10,924 | 11,499 | |||||||||||
| Total software and related services | 22,928 | 22,468 | 47,794 | 45,909 | |||||||||||
| Client engineering services | 6,767 | 5,914 | 13,391 | 12,555 | |||||||||||
| Other | 1,102 | 1,141 | 2,347 | 2,662 | |||||||||||
| Total cost of revenue | 30,797 | 29,523 | 63,532 | 61,126 | |||||||||||
| Gross profit | 110,364 | 103,133 | 243,663 | 231,311 | |||||||||||
| Operating expenses: | |||||||||||||||
| Research and development * | 55,277 | 50,437 | 108,528 | 97,516 | |||||||||||
| Sales and marketing * | 44,982 | 41,153 | 88,474 | 78,993 | |||||||||||
| General and administrative * | 18,622 | 18,370 | 36,573 | 35,796 | |||||||||||
| Amortization of intangible assets | 7,625 | 6,208 | 15,439 | 12,111 | |||||||||||
| Other operating expense (income), net | 127 | (5,767 | ) | 5,732 | (6,548 | ) | |||||||||
| Total operating expenses | 126,633 | 110,401 | 254,746 | 217,868 | |||||||||||
| Operating (loss) income | (16,269 | ) | (7,268 | ) | (11,083 | ) | 13,443 | ||||||||
| Interest expense | 1,528 | 700 | 3,054 | 1,285 | |||||||||||
| Other (income) expense, net | (4,195 | ) | 21,907 | (7,808 | ) | 23,975 | |||||||||
| Loss before income taxes | (13,602 | ) | (29,875 | ) | (6,329 | ) | (11,817 | ) | |||||||
| Income tax expense | 8,678 | 3,899 | 17,910 | 10,429 | |||||||||||
| Net loss | $ | (22,280 | ) | $ | (33,774 | ) | $ | (24,239 | ) | $ | (22,246 | ) | |||
| Loss per share: | |||||||||||||||
| Net loss per share attributable to common stockholders, basic and diluted | $ | (0.28 | ) | $ | (0.43 | ) | $ | (0.30 | ) | $ | (0.28 | ) | |||
| Weighted average shares outstanding: | |||||||||||||||
| Weighted average number of shares used in computing net loss per share, basic and diluted | 79,986 | 78,948 | 80,088 | 79,204 | |||||||||||
Altair Announces Second Quarter 2023 Financial Results
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