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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) | 2023 | 2022 | 2023 | 2022 | |||||||||||
| Revenue | |||||||||||||||
| License | $ | 79,825 | $ | 67,245 | $ | 279,972 | $ | 256,102 | |||||||
| Maintenance and other services | 39,252 | 36,520 | 114,069 | 105,453 | |||||||||||
| Total software | 119,077 | 103,765 | 394,041 | 361,555 | |||||||||||
| Software related services | 6,517 | 6,706 | 20,281 | 23,143 | |||||||||||
| Total software and related services | 125,594 | 110,471 | 414,322 | 384,698 | |||||||||||
| Client engineering services | 7,126 | 7,355 | 22,936 | 22,414 | |||||||||||
| Other | 1,283 | 1,525 | 3,940 | 4,676 | |||||||||||
| Total revenue | 134,003 | 119,351 | 441,198 | 411,788 | |||||||||||
| Cost of revenue | |||||||||||||||
| License | 3,083 | 2,579 | 11,888 | 11,386 | |||||||||||
| Maintenance and other services | 13,689 | 13,025 | 41,754 | 38,628 | |||||||||||
| Total software * | 16,772 | 15,604 | 53,642 | 50,014 | |||||||||||
| Software related services | 5,251 | 5,240 | 16,175 | 16,739 | |||||||||||
| Total software and related services | 22,023 | 20,844 | 69,817 | 66,753 | |||||||||||
| Client engineering services | 5,930 | 5,835 | 19,321 | 18,390 | |||||||||||
| Other | 1,133 | 1,230 | 3,480 | 3,892 | |||||||||||
| Total cost of revenue | 29,086 | 27,909 | 92,618 | 89,035 | |||||||||||
| Gross profit | 104,917 | 91,442 | 348,580 | 322,753 | |||||||||||
| Operating expenses: | |||||||||||||||
| Research and development * | 51,598 | 53,092 | 160,126 | 150,608 | |||||||||||
| Sales and marketing * | 44,069 | 41,352 | 132,543 | 120,345 | |||||||||||
| General and administrative * | 17,218 | 18,258 | 53,791 | 54,054 | |||||||||||
| Amortization of intangible assets | 7,704 | 6,571 | 23,143 | 18,682 | |||||||||||
| Other operating (income) expense, net | (4,408 | ) | (2,835 | ) | 1,324 | (9,383 | ) | ||||||||
| Total operating expenses | 116,181 | 116,438 | 370,927 | 334,306 | |||||||||||
| Operating loss | (11,264 | ) | (24,996 | ) | (22,347 | ) | (11,553 | ) | |||||||
| Interest expense | 1,529 | 1,566 | 4,583 | 2,851 | |||||||||||
| Other (income) expense, net | (1,890 | ) | 2,107 | (9,698 | ) | 26,082 | |||||||||
| Loss before income taxes | (10,903 | ) | (28,669 | ) | (17,232 | ) | (40,486 | ) | |||||||
| Income tax (benefit) expense | (6,541 | ) | 4,579 | 11,369 | 15,008 | ||||||||||
| Net loss | $ | (4,362 | ) | $ | (33,248 | ) | $ | (28,601 | ) | $ | (55,494 | ) | |||
| Loss per share: | |||||||||||||||
| Net loss per share attributable to common
stockholders, basic and diluted | $ | (0.05 | ) | $ | (0.42 | ) | $ | (0.36 | ) | $ | (0.70 | ) | |||
| Weighted average shares outstanding: | |||||||||||||||
| Weighted average number of shares used in computing
net loss per share, basic and diluted | 80,431 | 79,207 | 80,204 | 79,205 | |||||||||||
Altair Announces Third Quarter 2023 Financial Results
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