Core Insights - Altair has partnered with Devoteam to expand its data analytics and AI solutions across the EMEA region, enhancing its global expansion strategy [2][3] - The collaboration aims to assist industrial companies in leveraging data to boost efficiency, productivity, and competitiveness, particularly in their digital transformation efforts [3] Company Overview - Altair is recognized as a global leader in computational intelligence, providing software and cloud solutions in simulation, high-performance computing (HPC), data analytics, and AI [5] - Devoteam has over 25 years of experience in technology and employs more than 11,000 tech-native specialists across 25 countries, focusing on large-scale projects and customized solutions [3]

Altair Engineering Inc. (ALTR) entered into an agreement with HP Inc to enhance the Altair Material Data Center. This collaboration will provide customers with access to accurate material property data. This enhancement helps bridge the gap between the design and production of 3D-printed parts, addressing a common challenge in the industry.Per the agreement, HP will provide Altair with proprietary material information. This will enable designers, engineers and scientists to browse, search and compare materi ...

HP data will bolster Altair® Material Data Center™ bridging gap between design and production of 3D-printed partsTROY, Mich., June 24, 2024 /PRNewswire/ -- Altair (Nasdaq: ALTR), a global leader in computational intelligence, has signed an agreement with HP Inc. in which HP will provide Altair with proprietary material information that will bolster the Altair® Material Data Center™, which enables designers, engineers, and scientists to browse, search, and compare materials in a standalone application or thr ...

Core Insights - Altair has been recognized as a Leader in the Magic Quadrant for Data Science and Machine Learning Platforms by Gartner, highlighting its Completeness of Vision and Ability to Execute [1][2] Group 1: Company Positioning - Altair's offering, Altair® RapidMiner®, has been evaluated positively for its mature and targeted strategy that incorporates generative AI to enhance customer business value [2] - The company is noted for its capability to innovate rapidly, outperforming other vendors in the market [2] - Altair's CEO, James R. Scapa, emphasized that this recognition validates the company's unique and comprehensive offerings in data analytics and machine learning [2] Group 2: Market Analysis - The Magic Quadrant report provides a comprehensive view of provider positions in high-growth markets, categorizing them into Leaders, Challengers, Visionaries, and Niche Players [2] - The report is based on rigorous, fact-based research, allowing businesses to align their technology needs with market analysis [2]

TROY, Mich., June 20, 2024 /PRNewswire/ -- Altair (Nasdaq: ALTR), a global leader in computational intelligence, was added to the S&P MidCap 400 by S&P Dow Jones Indices effective prior to the open of trading on Monday, June 24."Being added to the S&P 400 represents a significant milestone in Altair's journey as a public company," said James R. Scapa, founder and chief executive officer, Altair. "It is a testament to our strong and steady growth and our demonstrated leadership in simulation and design, data ...

Addition will expand access to Altair's digital engineering experienceTROY, Mich., June 17, 2024 /PRNewswire/ -- Altair (Nasdaq: ALTR), a global leader in computational intelligence, announced that Altair One®, Altair's cloud innovation gateway, is now available on Google Cloud Marketplace, opening up a world of possibilities for users seeking seamless access to powerful simulation, data analytics, and high-performance computing (HPC) capabilities.Altair One, Altair’s cloud innovation gateway, is now availa ...

Core Insights - Altair is the official computational science and AI partner for the NYYC American Magic team in their pursuit of victory in the 37th America's Cup starting August 22 [1][4] - Altair's technology, including computational fluid dynamics (CFD), structural analysis, data analytics, and high-performance computing (HPC), has significantly enhanced the yacht design and testing process for American Magic [2][3] Company Overview - Altair is recognized as a global leader in computational intelligence, providing software and cloud solutions that enable organizations to make smarter decisions and compete effectively [6] - The company focuses on simulation, HPC, data analytics, and AI, aiming to foster a greener and more sustainable future [6] Collaboration Highlights - The partnership between Altair and American Magic exemplifies a shared vision of innovation and excellence, with both organizations committed to pushing the boundaries of technology [4] - American Magic's CEO, Mike Cazer, emphasized the crucial role of Altair's technology in designing a yacht that enhances their competitive capabilities for the America's Cup [4] Event Details - The 37th America's Cup will commence in Barcelona, Spain, with the Preliminary Regatta on August 22, followed by the Challenger Series, and the final match scheduled for October 12-21 [4]

Event will showcase AI-driven innovations in design, simulation, and manufacturingTROY, Mich., June 10, 2024 /PRNewswire/ -- Altair (Nasdaq: ALTR) a global leader in computational intelligence, announced its ATCx AI for Engineers 2024 global virtual event will be held on June 20. The event will bring together design, simulation, and manufacturing engineers from around the world to explore the transformative potential of artificial intelligence (AI) in product development.The event features an impressive lin ...

TROY, Mich., May 23, 2024 (GLOBE NEWSWIRE) -- Altair (Nasdaq: ALTR), a global leader in computational intelligence, today announced that Matt Brown, chief financial officer, will present in a fireside chat at each of the following investor conferences: Event:William Blair Growth Stock ConferenceWhen:Wednesday, June 5, 2024Location:Chicago, ILTime:12:40 p.m. CT (1:40 p.m. ET)  Event:Baird Global Consumer, Technology & Services ConferenceWhen:Thursday, June 6, 2024Location:New York, NYTime:11:25 a.m. ET  Even ...

Financial Data and Key Metrics Changes - Total quarterly revenue for Q1 2024 was $172.9 million, exceeding the high end of guidance, with software revenue at $158.4 million and adjusted EBITDA at $45.8 million [8][26] - Adjusted EBITDA increased by 6.4% year-over-year to $45.8 million, representing 26.5% of revenue compared to 25.9% in Q1 2023 [10][29] - Non-GAAP gross margin improved to 83.3% from 81.9% in the prior year, driven by a shift towards higher-margin software revenue [28] Business Line Data and Key Metrics Changes - Software revenue grew by 5.9% in reported currency and 6.9% in constant currency year-over-year, accounting for 91.6% of total revenue [27][9] - Significant growth in the banking, financial services, and insurance vertical, with a major customer expanding their commitment by over 80% year-on-year [10] - The energy sector saw a new global customer commitment, with revenue increasing over 80% annually due to Altair PollEx [11] Market Data and Key Metrics Changes - The aerospace and defense vertical showed strong performance, with a European automotive OEM signing a contract for simulation and data analytics solutions [12][22] - The heavy equipment, truck, and rail vertical secured a significant three-year commitment from a global leader in power sports vehicles [12] - The healthcare and life sciences vertical is gaining traction, with the hiring of key leaders to drive growth in this area [17] Company Strategy and Development Direction - The company is focused on expanding its indirect sales channel, welcoming seven new channel partners in Q1 [16] - Altair announced the acquisition of Cambridge Semantics to enhance its data analytics capabilities, integrating knowledge graph technology into its existing platforms [18][19] - The launch of Altair SimSolid for electronics aims to address the evolving needs in the semiconductor and electronics design markets [13][51] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about a gradually improving macro environment and a strong pipeline of opportunities [24][36] - The company is seeing positive momentum in its verticals, with a focus on long-term growth despite some economic challenges [37][62] - Management noted that the demand environment is improving, with a positive outlook for the remainder of the year [62] Other Important Information - The company ended Q1 with $557.6 million in cash and cash equivalents, demonstrating strong free cash flow generation of $70.7 million [29][30] - Guidance for Q2 2024 includes expected software revenue of $131 million to $134 million, reflecting a year-over-year increase [31] - Full-year 2024 guidance for total revenue has been adjusted to a range of $652 million to $662 million due to foreign currency impacts [32] Q&A Session Summary Question: How is the business momentum progressing? - Management noted that the pipeline is growing and verticals established last year are generating new opportunities, indicating a positive outlook [36][37] Question: What feedback is being received on SimSolid for electronics? - Management indicated it is early for feedback, but they expect strong interest once the product is released [40] Question: What is the outlook for Q2 revenue? - Management acknowledged that some deals closed early in Q1, impacting Q2 expectations, but overall feels positive about the first half of the year [43][45] Question: What is the current RPO coverage? - Management stated that the current RPO is providing more coverage than usual, reflecting both conservative guidance and longer-duration contracts being signed [48][49] Question: How is hiring being approached? - Management is carefully hiring to fill specific needs in verticals while also focusing on efficiency within the sales team [55] Question: Is there increased competition for smaller M&A deals? - Management noted that while the market is competitive, they are focused on finding unique technology opportunities [57] Question: What is the demand environment like compared to last year? - Management indicated that the demand environment is improving, feeling positive about the current landscape [62]