DuPont, BMW M GmbH, Dow Inc., Toyota, General Motors, and others creating sustainable, lightweight futureTROY, Mich., Aug. 6, 2024 /PRNewswire/ -- Altair (Nasdaq: ALTR), a global leader in computational intelligence, has named the winners of the 2024 Altair Enlighten Award. Presented in association with the Center for Automotive Research (CAR), the award honors the greatest sustainability and lightweighting advancements that successfully reduce carbon footprint, mitigate water and energy consumption, and le ...

Financial Data and Key Metrics Changes - Total quarterly revenue for Q2 2024 was $148.8 million, with software revenue accounting for $135.4 million, both exceeding the high end of guidance [4] - Adjusted EBITDA was $17.3 million, above the midpoint of the guided range [4] - Software revenue grew 10.6% year-over-year on a constant currency basis, while total revenue increased by 5.4% in reported currency [12][14] - Non-GAAP gross margin was 80.9%, up from 80% in the prior year, driven by a shift towards higher-margin software revenue [14] Business Line Data and Key Metrics Changes - Software revenue represented 91% of total revenue in Q2 2024, compared to 88.8% in Q2 2023, indicating a strong focus on software solutions [14] - The aerospace and defense vertical showed notable strength, with significant contracts signed, including an eight-figure deal with a multinational aerospace company [10][12] Market Data and Key Metrics Changes - Calculated total billings were $154.5 million, a year-over-year increase of 4.5% in reported currency and 7.1% in constant currency [12] - Strong performance was noted across the Americas, EMEA, and APAC regions, with growth in software revenue [12][14] Company Strategy and Development Direction - The company is focusing on vertical market orientation for strategic accounts, particularly in aerospace and defense, to enhance customer engagement and sales effectiveness [18] - Recent acquisitions, such as Metrics Design Automation, aim to enhance capabilities in semiconductor design and verification, indicating a strategic push into the EDA market [6][31] - The launch of Altair HyperWorks 2024, featuring advancements in AI, positions the company as a leader in simulation-driven innovation [5][6] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future growth, citing the importance of innovation even amid macroeconomic challenges [28] - The company anticipates continued strong demand for its products, particularly in aerospace and defense, and expects software revenue growth to outpace engineering services [12][28] Other Important Information - Free cash flow for the first half of 2024 was $97 million, an increase of 16.8% from the prior year [15] - The company is raising its full-year guidance for software revenue, reflecting confidence in its product offerings and market position [16] Q&A Session Summary Question: Discussion on the interconnectedness of traditional products and newer data-focused products - Management highlighted the successful integration of traditional engineering products with newer offerings like RapidMiner, enhancing sales force capabilities [17][18] Question: Emphasis on channel partnerships and their impact on revenue - Management confirmed a strategic emphasis on indirect sales channels to reach small and medium accounts, particularly in data analytics [23][24] Question: Initial thoughts on the macroeconomic environment and its impact on business - Management expressed confidence that innovation will drive demand for their solutions, even in challenging economic conditions [27][28] Question: Insights on the Metrics Design Automation acquisition and its business model - Management noted that the acquisition's cloud-based business model allows for scalable simulations, which is expected to disrupt the EDA market [31][38] Question: Uptake rate of physicsAI tools among customers - Management reported a high uptake rate of physicsAI tools, indicating strong customer interest and integration into workflows [39] Question: Additional functionality in HyperWorks 24 and its impact on business - Management described significant enhancements in user experience and performance in HyperWorks 24, which are expected to drive increased adoption [41][42]

Altair Engineering (ALTR) came out with quarterly earnings of $0.16 per share, beating the Zacks Consensus Estimate of $0.15 per share. This compares to earnings of $0.15 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 6.67%. A quarter ago, it was expected that this company would post earnings of $0.35 per share when it actually produced earnings of $0.40, delivering a surprise of 14.29%.Over the last four quarters, the compan ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38263 ALTAIR ENGINEERING INC. (Exact name of registrant as specified in its charter) Delaware 38-2591828 (State or other jurisdiction of in ...

Exhibit 99.1 Altair Announces Second Quarter 2024 Financial Results Altair Exceeds Revenue Expectations for the Second Quarter TROY, Mich. – August 1, 2024 – Altair (Nasdaq: ALTR), a global leader in computational intelligence, today released its financial results for the second quarter and six months ended June 30, 2024. "Altair maintained its strong trajectory during the second quarter, with software revenue and total revenue above the high end of guidance," said James R. Scapa, founder, chairman, and chi ...

TROY, Mich., Aug. 01, 2024 (GLOBE NEWSWIRE) -- Altair (Nasdaq: ALTR), a global leader in computational intelligence, today released its financial results for the second quarter and six months ended June 30, 2024. “Altair maintained its strong trajectory during the second quarter, with software revenue and total revenue above the high end of guidance,” said James R. Scapa, founder, chairman, and chief executive officer, Altair. “Our Q2 results underscore the robustness of our software product lineup, which c ...

Complex fatigue analysis reduced development time for vehicle infotainment components by more than 20% TROY, Mich., July 31, 2024 /PRNewswire/ -- Altair (Nasdaq: ALTR), a global leader in computational intelligence, and LG Electronics Vehicle component Solutions Company (LG VS Company) have collaborated to develop analysis solutions aimed at extending product lifespans. LG Electronics reduced the development time for their vehicle infotainment components by over 20% with the help of Altair® OptiStruct® – an ...

Core Insights - Altair has signed a memorandum of understanding (MoU) with the University of Nottingham for a pioneering digital twin project in the aerospace sector, aimed at enhancing electric propulsion systems [2][3][4] Group 1: Project Overview - The digital twin project will serve as a comprehensive solution for the aerospace industry, enabling rapid design, validation, and testing of electric propulsion systems for new aircraft and advanced air mobility (AAM) vehicles [2][3] - The collaboration will provide University of Nottingham researchers with unlimited access to Altair's HyperWorks and RapidMiner platforms, facilitating AI-powered multiphysics simulations and data analytics [3][4] Group 2: Technological Capabilities - The agreement includes access to Altair's high-performance computing (HPC) tools and extensive training, enhancing the university's research capabilities [3][4] - The project will leverage Altair's technology across various domains, including energy storage, power electronics, digital controllers, and thermal management systems [4] Group 3: Strategic Importance - This MoU supports the University of Nottingham's Zero Carbon Innovation Centre, co-funded by East Midlands Freeport, to develop a complete digital twin of an electric propulsion system [4] - The partnership aligns with Altair's commitment to innovation and sustainability in aerospace and transportation, aiming to translate zero carbon research into practical industry solutions [4]

TROY, Mich., July 18, 2024 (GLOBE NEWSWIRE) -- Altair (Nasdaq: ALTR), a global leader in computational intelligence, will release its financial results for the second quarter ended June 30, 2024, after the market close on Thursday, August 1, 2024. On that day, management will hold a conference call and webcast at 5 p.m. ET to review and discuss the Company’s second quarter 2024 results and third quarter and full year 2024 outlook. A recorded version of this webcast will be available after the call and acces ...

Core Insights - Altair will showcase its innovations in engineering simulation, AI, and HPC at the Farnborough International Airshow 2024, highlighting its role in transforming aerospace engineering and production processes [1][2] Group 1: Innovations and Solutions - Altair's AI-powered engineering solutions support the entire aerospace life cycle, including conceptual design, manufacturing, operational performance, and maintenance [2] - The company emphasizes the importance of computational intelligence in enhancing safety and reducing environmental impact within the aerospace industry [2][3] - Altair's simulation solutions integrate AI to provide insights and performance improvements for aircraft design and operations [3] Group 2: Manufacturing and Maintenance - Altair's solutions create intelligent digital twins that utilize design and operational data for real-time monitoring and predictive maintenance, improving safety and reducing costs [3] - The company aims to extend the life cycle of aircraft through its innovative manufacturing and MRO solutions [3] Group 3: Defense and Future Support - Altair will present solutions for government agencies and defense companies to navigate the digital landscape and make data-driven decisions [3] - The Aerospace Startup Acceleration Program is designed to support startups with leading design and data analytics solutions in a competitive market [3]