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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) | 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Revenue | ||||||||||||||||
| License | $ | 92,939 | $ | 79,825 | $ | 303,345 | $ | 279,972 | ||||||||
| Maintenance and other services | 45,733 | 39,252 | 129,179 | 114,069 | ||||||||||||
| Total software | 138,672 | 119,077 | 432,524 | 394,041 | ||||||||||||
| Engineering services and other | 12,778 | 14,926 | 40,633 | 47,157 | ||||||||||||
| Total revenue | 151,450 | 134,003 | 473,157 | 441,198 | ||||||||||||
| Cost of revenue | ||||||||||||||||
| License | 2,795 | 3,083 | 10,437 | 11,888 | ||||||||||||
| Maintenance and other services | 16,045 | 13,689 | 46,410 | 41,754 | ||||||||||||
| Total software * | 18,840 | 16,772 | 56,847 | 53,642 | ||||||||||||
| Engineering services and other | 11,175 | 12,314 | 34,577 | 38,976 | ||||||||||||
| Total cost of revenue | 30,015 | 29,086 | 91,424 | 92,618 | ||||||||||||
| Gross profit | 121,435 | 104,917 | 381,733 | 348,580 | ||||||||||||
| Operating expenses: | ||||||||||||||||
| Research and development * | 56,111 | 51,598 | 164,014 | 160,126 | ||||||||||||
| Sales and marketing * | 45,559 | 44,069 | 136,468 | 132,543 | ||||||||||||
| General and administrative * | 17,500 | 17,218 | 54,555 | 53,791 | ||||||||||||
| Amortization of intangible assets | 9,246 | 7,704 | 24,313 | 23,143 | ||||||||||||
| Other operating (income) expense, net | (2,669 | ) | (4,408 | ) | (4,337 | ) | 1,324 | |||||||||
| Total operating expenses | 125,747 | 116,181 | 375,013 | 370,927 | ||||||||||||
| Operating (loss) income | (4,312 | ) | (11,264 | ) | 6,720 | (22,347 | ) | |||||||||
| Interest expense | 1,317 | 1,529 | 4,497 | 4,583 | ||||||||||||
| Other income, net | (10,758 | ) | (1,890 | ) | (20,465 | ) | (9,698 | ) | ||||||||
| Income (loss) before income taxes | 5,129 | (10,903 | ) | 22,688 | (17,232 | ) | ||||||||||
| Income tax expense (benefit) | 3,350 | (6,541 | ) | 9,509 | 11,369 | |||||||||||
| Net income (loss) | $ | 1,779 | $ | (4,362 | ) | $ | 13,179 | $ | (28,601 | ) | ||||||
| Earnings (loss) per share, basic | ||||||||||||||||
| Earnings (loss) per share | $ | 0.02 | $ | (0.05 | ) | $ | 0.16 | $ | (0.36 | ) | ||||||
| Weighted average shares | 84,835 | 80,431 | 83,680 | 80,204 | ||||||||||||
| Earnings (loss) per share, diluted | ||||||||||||||||
| Earnings (loss) per share | $ | 0.02 | $ | (0.05 | ) | $ | 0.15 | $ | (0.36 | ) | ||||||
| Weighted average shares | 88,425 | 80,431 | 87,854 | 80,204 | ||||||||||||
Altair Announces Third Quarter 2024 Financial Results
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