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Altair Engineering Inc. (ALTR) SEC Filing 10-K Annual report for the fiscal year ending Sunday, December 31, 2017

Altair Engineering Inc.

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CIK: 1701732 Ticker: ALTR

Exhibit 99.1

Altair Announces Fourth Quarter and Full Year 2017 Financial Results

Fourth Quarter Software Product Revenue Increased 11% Year-over-Year

TROY, Mich. – March 21, 2018 – Altair Engineering Inc. (NASDAQ: ALTR) today announced its financial results for the fourth quarter and full year ended December 31, 2017.

“Altair delivered strong fourth quarter and full year results highlighted by revenue that exceeded guidance,” said James Scapa, Founder, Chairman and CEO. “We are also seeing a positive margin impact as a growing portion of revenue comes from higher margin software.”

“We enter 2018 with the strongest product portfolio we’ve ever had, including our recent acquisition of Runtime. With ongoing investments in R&D, we continue to innovate to increase the value our simulation-driven design, high performance computing, IoT and Analytics solutions can deliver to our customers. Our strong billings growth in Q4, and 2017 as a whole, support our optimism for further growth in 2018, which coupled with continued investments, will help further elevate our leadership position in the multi-billion dollar markets we serve”.

Fourth Quarter 2017 Financial Highlights

 

  •   Software product revenue was $67.9 million, an increase of 11% from $61.1 million for the fourth quarter of 2016.

 

  •   Total revenue was $89.9 million, an increase of 8% compared to $82.8 million for the fourth quarter of 2016.

 

  •   Net loss was $(60.3) million, compared to net income of $5.9 million for the fourth quarter of 2016. The fourth quarter of 2017 included the impact of $8.0 million in non-cash stock-based compensation expenses as well as $56.6 million in tax expenses, substantially due to the recording of a valuation allowance on the U.S. deferred tax assets from the exercise and expected exercise of a significant number of non-qualified stock options, and to a lesser degree as a result of recent tax reform. Diluted net loss per share was $(1.03), based on 58.7 million diluted weighted average common shares outstanding, compared to diluted net income per share of $0.10 for the fourth quarter of 2016, based on 58.8 million diluted weighted average common shares outstanding.

 

  •   Adjusted EBITDA was $8.4 million, compared to $10.6 million for the fourth quarter of 2016. Adjusted EBITDA represents net (loss) income adjusted for income tax expense, interest expense, interest income and other, depreciation and amortization, stock-based compensation expense, restructuring charges, asset impairment charges and other special items as determined by management.

 

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The following information was filed by Altair Engineering Inc. (ALTR) on Wednesday, March 21, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Stockholders' Equity (deficit)
Consolidated Statements Of Changes In Stockholders' Equity (deficit) (parenthetical)
Consolidated Statements Of Comprehensive (loss) Income
Consolidated Statements Of Comprehensive (loss) Income (parenthetical)
Consolidated Statements Of Operations
(loss) Income Per Share
(loss) Income Per Share (tables)
(loss) Income Per Share - Additional Information (detail)
(loss) Income Per Share - Computation Of Numerators And Denominators Used Basic And Diluted (loss) Income Per Share Amounts (detail)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss (tables)
Accumulated Other Comprehensive Loss - Components Of Accumulated Other Comprehensive Loss (detail)
Acquisitions
Acquisitions (tables)
Acquisitions - Additional Information (detail)
Acquisitions - Summary Of Amounts Of Identified Assets Acquired And Liabilities Assumed At The Acquisition Date (detail)
Acquisitions - Summary Of Amounts Of Identified Assets Acquired And Liabilities Assumed At The Acquisition Date (parenthetical) (detail)
Commitments And Contingencies
Commitments And Contingencies (tables)
Commitments And Contingencies - Additional Information (detail)
Commitments And Contingencies - Schedule Of Future Minimum Capital Lease Payments And Under Noncancelable Operating Leases (detail)
Debt
Debt (tables)
Debt - Additional Information (detail)
Debt - Schedule Of Carrying Value Of Debt (detail)
Debt - Scheduled Maturities Of Long Term Debt (detail)
Description Of Business
Description Of Business - Additional Information (detail)
Fair Value Measurements
Fair Value Measurements (tables)
Fair Value Measurements - Summary Of Changes In The Fair Value Of Company's Level 3 Financial Liabilities (detail)
Fair Value Measurements - Summary Of Changes In The Fair Value Of Company's Level 3 Financial Liabilities (parenthetical) (detail)
Financial Instruments
Financial Instruments - Additional Information (detail)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (tables)
Goodwill And Other Intangible Assets - Additional Information (detail)
Goodwill And Other Intangible Assets - Changes In Carrying Amount Of Goodwill Attributable To Software Reporting Segment (detail)
Goodwill And Other Intangible Assets - Summary Of Estimated Amortization Expense (detail)
Goodwill And Other Intangible Assets - Summary Of Other Intangible Assets (detail)
Income Taxes
Income Taxes (tables)
Income Taxes - Additional Information (detail)
Income Taxes - Components Of (loss) Income Before Income Taxes (detail)
Income Taxes - Operating Loss And Tax Credit Carryforwards (detail)
Income Taxes - Reconciliation Of Beginning And Ending Amounts Of Unrecognized Tax Benefits (detail)
Income Taxes - Reconciliation Of Income Taxes Calculated At U.s. Federal Statutory Income Tax Rate (detail)
Income Taxes - Schedule Of Deferred Tax Assets And Liabilities (detail)
Income Taxes - Significant Components Of Income Tax Expense (detail)
Income Taxes - Summary Of Changes To Valuation Allowance Balance (detail)
Other Expense (income), Net
Other Expense (income), Net (tables)
Other Expense (income), Net - Schedule Of Other Expense (income), Net (detail)
Other Liabilities
Other Liabilities (tables)
Other Liabilities - Summary Of Other Accrued Expenses And Current Liabilities (detail)
Other Liabilities - Summary Of Other Long-term Liabilities (detail)
Property And Equipment, Net
Property And Equipment, Net (tables)
Property And Equipment, Net - Additional Information (detail)
Property And Equipment, Net - Summary Of Property And Equipment (detail)
Property And Equipment, Net - Summary Of Property And Equipment (parenthetical) (detail)
Related Party Transactions
Related Party Transactions - Additional Information (detail)
Retirement Benefits
Retirement Benefits (tables)
Retirement Benefits - Additional Information (detail)
Retirement Benefits - Schedule Of Estimated Future Benefit Payments (detail)
Retirement Benefits - Schedule Of Pension Benefits Obligation (detail)
Segment Information
Segment Information (tables)
Segment Information - Additional Information (detail)
Segment Information - Reconciliation Of U.s. Gaap (loss) Income Before Income Taxes To Adjusted Ebitda (detail)
Segment Information - Reconciliation Of U.s. Gaap (loss) Income Before Income Taxes To Adjusted Ebitda (parenthetical) (detail)
Segment Information - Schedule Of Segment Reporting Information (detail)
Segment Information - Summary Of Sales To External Customers And Long-lived Assets By Geographical Areas (detail)
Stock-based Compensation
Stock-based Compensation (tables)
Stock-based Compensation - Additional Information (detail)
Stock-based Compensation - Summary Of Stock Option Activity Under 2012 Plan (detail)
Stock-based Compensation - Summary Of Stock Option Activity Under Iso Plan (detail)
Stock-based Compensation - Summary Of Stock Option Activity Under Iso Plan (parenthetical) (detail)
Stock-based Compensation - Summary Of Stock Option Activity Under Nso Plan (detail)
Stock-based Compensation - Summary Of Stock-based Compensation Expense (detail)
Stock-based Compensation - Weighted Average Assumptions To Calculate Fair Value Of Options Granted (detail)
Stockholders' Equity
Stockholders' Equity - Additional Information (detail)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
Summary Of Significant Accounting Policies - Additional Information (detail)
Summary Of Significant Accounting Policies - Reconciliation Of Cash, Cash Equivalents And Restricted Cash (detail)
Summary Of Significant Accounting Policies - Schedule Of Allowance For Doubtful Accounts (detail)
Summary Of Significant Accounting Policies - Schedule Of Inventory (detail)
Supplemental Quarterly Financial Information (unaudited)
Supplemental Quarterly Financial Information (unaudited) (tables)
Supplemental Quarterly Financial Information (unaudited) - Additional Information (detail)
Supplemental Quarterly Financial Information (unaudited) - Summary Of Quarterly Financial Information (detail)
Ticker: ALTR
CIK: 1701732
Form Type: 10-K Annual Report
Accession Number: 0001193125-18-090811
Submitted to the SEC: Wed Mar 21 2018 5:09:12 PM EST
Accepted by the SEC: Wed Mar 21 2018
Period: Sunday, December 31, 2017
Industry: Prepackaged Software

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