Altair Announces Third Quarter 2022 Financial Results


ALTAIR ENGINEERING INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

	Three Months Ended September 30,						Nine Months Ended September 30,
(in thousands, except per share data)	2022			2021			2022			2021
Revenue
License	$	67,245		$	67,603		$	256,102		$	230,630
Maintenance and other services		36,520			34,686			105,453			100,758
Total software		103,765			102,289			361,555			331,388
Software related services		6,706			7,650			23,143			23,229
Total software and related services		110,471			109,939			384,698			354,617
Client engineering services		7,355			10,060			22,414			31,005
Other		1,525			1,308			4,676			5,760
Total revenue		119,351			121,307			411,788			391,382
Cost of revenue
License		2,579			4,694			11,386			13,706
Maintenance and other services		13,025			11,770			38,628			35,368
Total software *		15,604			16,464			50,014			49,074
Software related services		5,240			5,707			16,739			17,560
Total software and related services		20,844			22,171			66,753			66,634
Client engineering services		5,835			7,982			18,390			25,163
Other		1,230			1,348			3,892			5,072
Total cost of revenue		27,909			31,501			89,035			96,869
Gross profit		91,442			89,806			322,753			294,513
Operating expenses:
Research and development *		48,781			35,839			138,352			112,872
Sales and marketing *		39,244			30,589			114,042			94,568
General and administrative *		24,677			22,196			72,613			67,983
Amortization of intangible assets		6,571			4,432			18,682			13,924
Other operating income, net		(2,835	)		(1,324	)		(9,383	)		(2,526	)
Total operating expenses		116,438			91,732			334,306			286,821
Operating (loss) income		(24,996	)		(1,926	)		(11,553	)		7,692
Interest expense		1,566			3,037			2,851			8,998
Other expense, net		2,107			124			26,082			1,667
Loss before income taxes		(28,669	)		(5,087	)		(40,486	)		(2,973	)
Income tax expense		4,579			3,022			15,008			4,424
Net loss	$	(33,248	)	$	(8,109	)	$	(55,494	)	$	(7,397	)
Loss per share:
Net loss per share attributable to common stockholders, basic	$	(0.42	)	$	(0.11	)	$	(0.70	)	$	(0.10	)
Net loss per share attributable to common stockholders, diluted	$	(0.42	)	$	(0.11	)	$	(0.70	)	$	(0.10	)
Weighted average shares outstanding:
Weighted average number of shares used in computing net loss per share, basic		79,207			75,750			79,205			75,226
Weighted average number of shares used in computing net loss per share, diluted		79,207			75,750			79,205			75,226

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