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ALTAIR ENGINEERING INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOW (Unaudited) | ||||||||
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Nine Months Ended
September 30, | ||||||||
| (In thousands) | 2024 | 2023 | ||||||
| OPERATING ACTIVITIES: | ||||||||
| Net income (loss) | $ | 13,179 | $ | (28,601 | ) | |||
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||||
| Depreciation and amortization | 31,120 | 29,271 | ||||||
| Stock-based compensation expense | 50,710 | 66,423 | ||||||
| Deferred income taxes | (114 | ) | 2,178 | |||||
| Loss on mark-to-market adjustment of contingent consideration | 189 | 4,494 | ||||||
| Other, net | 1,520 | 1,385 | ||||||
| Changes in assets and liabilities: | ||||||||
| Accounts receivable, net | 72,916 | 47,226 | ||||||
| Prepaid expenses and other current assets | (7,895 | ) | 959 | |||||
| Other long-term assets | 408 | (1,491 | ) | |||||
| Accounts payable | (5,416 | ) | (5,494 | ) | ||||
| Accrued compensation and benefits | (1,977 | ) | (2,726 | ) | ||||
| Other accrued expenses and current liabilities | (12,261 | ) | (4,526 | ) | ||||
| Deferred revenue | (25,825 | ) | (3,442 | ) | ||||
| Net cash provided by operating activities | 116,554 | 105,656 | ||||||
| INVESTING ACTIVITIES: | ||||||||
| Payments for acquisition of businesses, net of cash acquired | (25,575 | ) | (3,235 | ) | ||||
| Capital expenditures | (9,739 | ) | (7,882 | ) | ||||
| Other investing activities, net | (5,036 | ) | (2,452 | ) | ||||
| Net cash used in investing activities | (40,350 | ) | (13,569 | ) | ||||
| FINANCING ACTIVITIES: | ||||||||
| Settlement of convertible senior notes | (81,729 | ) | — | |||||
| Proceeds from the exercise of common stock options | 43,721 | 25,526 | ||||||
| Proceeds from employee stock purchase plan contributions | 7,112 | 5,772 | ||||||
| Payments for repurchase and retirement of common stock | — | (6,255 | ) | |||||
| Other financing activities | — | (73 | ) | |||||
| Net cash (used in) provided by financing activities | (30,896 | ) | 24,970 | |||||
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 554 | (2,599 | ) | |||||
| Net increase in cash, cash equivalents and restricted cash | 45,862 | 114,458 | ||||||
| Cash, cash equivalents and restricted cash at beginning of year | 467,576 | 316,958 | ||||||
| Cash, cash equivalents and restricted cash at end of period | $ | 513,438 | $ | 431,416 | ||||
Altair Announces Third Quarter 2024 Financial Results
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