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Altair Engineering Inc. (ALTR) SEC Filing 10-Q Quarterly report for the period ending Saturday, March 31, 2018

Altair Engineering Inc.

CIK: 1701732 Ticker: ALTR

Exhibit 99.1

Altair Announces First Quarter 2018 Financial Results

First Quarter Software Product Revenue Increased 26% Year-over-Year

TROY, Mich. – May 14, 2018 – Altair (Nasdaq:ALTR) released its financial results for the first quarter ended March 31, 2018.

“Altair started 2018 with a strong financial performance highlighted by software product revenue growth of 26% and profitability that exceeded expectations,” said James Scapa, Founder, Chairman and CEO. “Our performance in the first quarter reflects good execution, improving market dynamics and the positive impact of the investments we have made to strengthen our product portfolio and go-to-market team.”

Scapa continued, “We have further enhanced our solution set with the recent acquisitions of CANDI, which extends our capabilities around edge gateway computing and the Internet of Things, and FluiDyna, a developer of GPU-based fluid dynamics and numerical simulation technologies. These are exciting technologies that increase the value Altair can deliver for customers and exemplify our expanding number of opportunities for future growth.”

First Quarter 2018 Financial Highlights

 

    Software product revenue was $68.1 million, an increase of 26% from $54.1 million for the first quarter of 2017.

 

    Total revenue was $91.7 million, an increase of 19% compared to $76.9 million for the first quarter of 2017.

 

    Net income was $3.9 million, compared to net loss of $(2.2) million for the first quarter of 2017. Diluted net income per share was $0.05, based on 72.4 million diluted weighted average common shares outstanding, compared to diluted net loss per share of $(0.04) for the first quarter of 2017, based on 50.1 million diluted weighted average common shares outstanding.

 

    Adjusted EBITDA was $7.7 million, compared to $2.9 million for the first quarter of 2017. Adjusted EBITDA represents net income (loss) 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.

 

    Non-GAAP net income was $6.1 million, compared to $1.6 million for the first quarter of 2017. Non-GAAP net income per share was $0.08, based on 72.8 million diluted weighted average common shares outstanding, compared to $0.03 for the first quarter of 2017, based on 61.2 million diluted weighted average common shares outstanding. Non-GAAP net income excludes stock-based compensation, amortization of intangible assets related to acquisitions and certain tax adjustments.


The following information was filed by Altair Engineering Inc. (ALTR) on Monday, May 14, 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-Q Quarterly 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-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statement Of Changes In Stockholders' Equity
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (loss)
Consolidated Statements Of Comprehensive Income (loss) (parenthetical)
Consolidated Statements Of Operations
Accounting Policies
Accounting Policies (policies)
Accounting Policies (tables)
Accounting Policies - Additional Information (detail)
Accounting Policies - Computation Of Numerators And Denominators Used In Basic And Diluted Income (loss) Per Share Amounts (detail)
Accounting Policies - Reconciliation Of Cash, Cash Equivalents And Restricted Cash (detail)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss (tables)
Accumulated Other Comprehensive Loss - Components Of Accumulated Other Comprehensive Loss (detail)
Commitments And Contingencies
Commitments And Contingencies - Additional Information (detail)
Fair Value Measurements
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 Other Intangible Assets (detail)
Income Taxes
Income Taxes (tables)
Income Taxes - Additional Information (detail)
Income Taxes - Schedule Of Income Tax Expense (benefit) And Effective Tax Rate (detail)
Inventory
Inventory (tables)
Inventory - Schedule Of Inventory (detail)
Organization And Description Of Business
Other (income) Expense, Net
Other (income) Expense, Net (tables)
Other (income) Expense, Net - Schedule Of Other (income) Expense, 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)
Recent Accounting Guidance
Related Party Transactions
Related Party Transactions - Additional Information (detail)
Segment Information
Segment Information (tables)
Segment Information - Additional Information (detail)
Segment Information - Reconciliation Of U.s. Gaap Income (loss) Before Income Taxes To Adjusted Ebitda (detail)
Segment Information - Reconciliation Of U.s. Gaap Income (loss) Before Income Taxes To Adjusted Ebitda (parenthetical) (detail)
Segment Information - Schedule Of Segment Reporting Information (detail)
Stock-based Compensation
Stock-based Compensation (tables)
Stock-based Compensation - Additional Information (detail)
Stock-based Compensation - Summary Of Restricted Stock Units Awarded (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 Nso Plan (detail)
Stock-based Compensation - Summary Of Stock-based Compensation Expense (detail)
Subsequent Events
Subsequent Events - Additional Information (detail)

Material Contracts, Statements, Certifications & more

Altair Engineering Inc. provided additional information to their SEC Filing as exhibits

Ticker: ALTR
CIK: 1701732
Form Type: 10-Q Quarterly Report
Accession Number: 0001564590-18-013440
Submitted to the SEC: Mon May 14 2018 4:50:42 PM EST
Accepted by the SEC: Mon May 14 2018
Period: Saturday, March 31, 2018
Industry: Prepackaged Software

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