Group 1: KBR's Technology and Projects - KBR's Purifier ammonia technology is set to assist Wuhuan Engineering in expanding El Nasr Company's fertilizer complex in Egypt, providing a technology license, proprietary engineering design, and equipment for a 1,200 metric tonnes per day ammonia plant [1] - KBR has a strong track record, having licensed, engineered, and constructed over 250 grassroots ammonia plants globally, capturing approximately 50% of the market share of licensed capacity [2] - The company won a contract for its Purifier ammonia technology to support the PT Pupuk Sriwidjaja Palembang's planned 3B Ammonia Plant in Indonesia [3] Group 2: Market Performance and Growth - KBR's shares have increased by 17.9% over the past three months, while the Zacks Engineering - R and D Services industry has grown by 21.2% [1] - The earnings estimate for KBR in 2024 reflects a year-over-year growth of 10% [1] - KBR's focus on reducing emissions and improving energy efficiency is driving its performance, particularly in the context of national security and energy transition [4] Group 3: Strategic Initiatives and Future Outlook - KBR is expanding its low-carbon ammonia offerings and has secured a large-scale clean ammonia production project in the U.S. Gulf Coast, aimed at capturing carbon while maximizing yield [2] - The demand for KBR's technologies in ammonia production, olefins, and refining is strong, with a strategic shift towards IP-enabled maintenance gaining traction [3] - KBR's advisory portfolio is seeing increased activity, particularly related to energy transition and climate change [3]

Revolutionary multi-disciplinary solver for printed circuit boards (PCB) and integrated circuits (IC)TROY, Mich., March 20, 2024 /PRNewswire/ -- Altair (Nasdaq: ALTR), a global leader in computational intelligence, announced the upcoming release of Altair SimSolid for electronics, bringing game-changing fast, easy, and precise multi-physics scenario exploration for electronics, from chips, PCBs, and ICs to full system design. Altair announced the upcoming release of Altair SimSolid for electronics, bring ...

Financial Data and Key Metrics Changes - Altair reported record high total quarterly revenue of $171.5 million for Q4 2023, and full-year revenue of $612.7 million, representing a year-over-year increase of 6.9% and 7.1% respectively in reported currency [7][22] - Adjusted EBITDA for Q4 2023 increased by 38.3% year-over-year to $53.6 million, or 31.2% of total revenue, while full-year adjusted EBITDA grew 19% to $129.1 million, or 21.1% of total revenue [7][22] - Non-GAAP gross margin for Q4 was 84.3%, up from 80.2% in the prior year, driven by the exit from a lower margin hardware business [19][20] Business Line Data and Key Metrics Changes - Software product revenue for the full year 2023 grew by 8.6% compared to 2022, with software revenue accounting for 90% of total revenue [8][22] - The recurring software license rate for 2023 was 93%, an increase from 92% in 2022 [8] - Total billings for Q4 were $196.1 million, a year-over-year increase of 4.4% in reported currency [18] Market Data and Key Metrics Changes - Growth was broad-based across geographies and verticals, with notable strength in automotive, aerospace, and technology sectors [18][19] - A leading manufacturer of Electric Vehicles in APAC made an eight-figure commitment to Altair's simulation and data analytics software [10] - The aerospace market remained strong, benefiting from a renewed focus on defense and vertical organization [66] Company Strategy and Development Direction - Altair is focusing on engineering AI and digital twin technologies, which are gaining traction and expected to drive future growth [9][35] - The company plans to hold an Investor Day on March 20, 2024, to discuss its vision and future plans [16] - Altair is investing in product development and sales capacity to capitalize on market opportunities [56] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing a strong pipeline and increased investment in product differentiation [63] - The company is taking a prudent approach to guidance for 2024, reflecting a balanced revenue expectation throughout the year [39] - Management noted that the macroeconomic environment remains challenging but sees opportunities for growth in various sectors [37][63] Other Important Information - Altair's cash and cash equivalents at year-end 2023 were $467.5 million, with free cash flow of $117.1 million for the year [23][26] - The company welcomed three new channel partners in Q4, enhancing its indirect sales strategy [13] Q&A Session Summary Question: Impact of Synopsys-ANSYS merger on Altair's strategy - Management believes the merger presents opportunities due to uncertainty in the market, which could benefit Altair [28] Question: Revenue cadence and seasonality - Management noted a shift in revenue seasonality, with Q1 expected to be less dominant as the customer base broadens [30] Question: Importance of recent strategic initiatives - Management emphasized that changes made in 2023, including product releases and sales force alignment, are setting the stage for sustained momentum [32] Question: Level of conservatism in guidance - Management took a pragmatic approach to guidance, expecting a pickup in revenue in the latter half of 2024 [38] Question: Growth rates in data analytics vs. core simulation - Management indicated that growth in simulation led the way in 2023, with a convergence of data analytics and simulation technologies expected to drive future growth [42] Question: Changes in demand environment - Management reported increased strength in the pipeline over the last 90 days, particularly in Europe and the aerospace sector [62][66]

Core Insights - Altair has appointed Chip Colbert as senior director for Federal and Department of Defense and Caroline Phares as vice president for healthcare and life sciences to enhance its industry expertise [2][3] - The appointments are part of Altair's strategy to focus on high-growth industry segments and expand market share in areas where it has strong technology and a successful track record [3] Company Overview - Altair is a global leader in computational intelligence, providing software and cloud solutions in simulation, high-performance computing, data analytics, and AI [6] - The company aims to help organizations compete effectively and make smarter decisions while promoting sustainability [6] Leadership Background - Caroline Phares brings over 20 years of experience, previously serving as the global head of health and life sciences at Domino Data Lab and as product director at GSK, where she modernized biostatistics programs [3][4] - Chip Colbert has extensive experience in national security and business, having held leadership roles at Virtualitics, Inc. and Rebellion Defense, and previously worked in the White House on defense policy [4]

Exhibit 99.1 Altair Announces Fourth Quarter and Full Year 2023 Financial Results Record-High Revenue and Profit for the Fourth Quarter and Full Year TROY, Mich. – February 22, 2024 – Altair (Nasdaq: ALTR), a global leader in computational intelligence, today released its financial results for the fourth quarter and full year ended December 31, 2023. "Altair finished 2023 with a strong fourth quarter, notching record-high revenue and profit for the quarter and full-year," said James R. Scapa, founder, chair ...

Financial Performance - In 2023, 36% of software billings were attributed to the Americas, 31% to EMEA, and 33% to APAC[84]. - Seasonal variations in customer purchases significantly affect cash flows, with new and renewal licenses concentrated in the first and fourth quarters[115]. - As of December 31, 2023, Altair had cash, cash equivalents, and restricted cash totaling $467.6 million, primarily from bank deposits and money market funds[422]. Acquisitions and Growth - The company has acquired 51 companies or strategic technologies since 1996, including 22 in the last five years[113]. - In September 2023, the company acquired OmniQuest, enhancing its optimization leadership in the market[117]. - In July 2023, the company acquired OmniV technology, improving its capabilities in digital twins and simulation data management[117]. Intellectual Property - As of December 31, 2023, the company had 290 issued patents and 15 published patent applications worldwide[93]. Employee and Operational Insights - The company employs over 3,200 in-house employees, with more than two-thirds located in the United States, India, Germany, and the UK[99]. - The company’s software applications are noted for high performance and scalability, crucial for the high-end simulation market[88]. Business Model and User Engagement - The company’s subscription-based business model aims to reduce barriers to adoption and encourage user engagement within its ecosystem[91]. - The company’s solutions for data preparation, data science, and AI are recognized for their ability to handle large, complex data sets[89]. Financial Instruments and Risks - The company issued $230.0 million in 1.750% convertible senior notes due in 2027 and $230.0 million in 0.250% convertible senior notes due in 2024, with approximately $148.3 million of the latter repurchased by the end of 2023[421]. - Altair does not have any foreign currency hedging contracts as of December 31, 2023, and does not plan to engage in hedging activities in the near future[420]. - The appreciation of the U.S. dollar against foreign currencies negatively impacts reported revenue and operating income, while depreciation has a positive effect[419]. - Interest rate risk is present due to the potential impact on debt balances and interest expenses, although historical fluctuations in interest expense have not been significant[423]. - The fair market value of Altair's fixed interest rate convertible notes is influenced by changes in interest rates and the company's stock price[421]. - Altair's policy prohibits entering into derivative instruments for speculative purposes, and no such instruments are held for trading[424]. - The company is exposed to foreign currency risks due to substantial international operations, affecting financial results when translating into U.S. dollars[418]. Investor Relations - Altair's financial information is disclosed through press releases, SEC filings, and public conference calls[123]. - The company maintains a website where investors can access financial reports and other relevant information[122].

Core Viewpoint - Babcock International Group PLC (BCKIY) is currently positioned as a more attractive investment option compared to Altair Engineering (ALTR) based on various valuation metrics and earnings outlook [1][3]. Valuation Metrics - BCKIY has a forward P/E ratio of 13.27, significantly lower than ALTR's forward P/E of 77.22, indicating that BCKIY may be undervalued [2]. - The PEG ratio for BCKIY is 0.37, while ALTR's PEG ratio stands at 6.43, suggesting that BCKIY offers better value relative to its expected earnings growth [2]. - BCKIY's P/B ratio is 6.43, compared to ALTR's P/B of 11.07, further supporting the notion that BCKIY is a more attractive investment [2]. Earnings Outlook - BCKIY is experiencing an improving earnings outlook, which is a positive indicator in the Zacks Rank model, contributing to its higher ranking compared to ALTR [3].

Core Viewpoint - Altair is set to host an Investor Day on March 20, 2024, to present its vision for leading a new era of computational intelligence [1][2]. Group 1: Event Details - The Investor Day will take place in the San Francisco Bay Area from 8 a.m. to noon PT [1][2]. - Presentations will be made by key executives including the Founder, CEO, CTO, COO, CMO, and CFO [1]. Group 2: Company Overview - Altair is recognized as a global leader in computational science and artificial intelligence, providing software and cloud solutions in simulation, high-performance computing, data analytics, and AI [3]. - The company aims to help organizations across various industries enhance competitiveness and make smarter decisions while promoting sustainability [3].

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Altair Engineering Inc. (NASDAQ:ALTR) Q3 2023 Results Conference Call November 2, 2023 5:00 PM ET Company Participants Dave Simon - Senior Vice President-Investor Relations Jim Scapa - Founder, Chairman, and Chief Executive Officer Matt Brown - Chief Financial Officer Conference Call Participants Charles Shi - Needham & Company Blair Abernethy - Rosenblatt Securities Mark Schappel - Loop Capital Markets Matthew Hedberg - RBC Capital Markets Arsenije Matovic - Wolfe Research Ahmad Khalil - Oppenheimer Operat ...