Altair Announces Second Quarter 2023 Financial Results

The following table provides revenue, Billings and Adjusted EBITDA on a constant currency basis:

 (Unaudited) 
  Three Months Ended
June 30, 2023
   Three Months
Ended June 30,
2022
   Increase/
(Decrease) %
 
(in thousands) As reported   Currency
changes
   As adjusted for
constant currency
   As reported   As reported   As adjusted for
constant
currency
 
Software revenue$125.3  $2.6  $127.9  $116.9   7.2%  9.4%
Total revenue$141.2  $2.7  $143.9  $132.7   6.4%  8.4%
Billings$147.8  $2.3  $150.1  $125.4   17.8%  19.6%
Adjusted EBITDA$17.1  $1.4  $18.5  $16.4   3.7%  12.8%
                                   
                                   
  (Unaudited)  
  Six Months Ended
June 30, 2023
    Six Months
Ended June 30,
2022
    Increase/
(Decrease) %
 
(in thousands) As reported     Currency
changes
    As adjusted for
constant currency
    As reported     As reported     As adjusted for
constant
currency
 
Software revenue $ 275.0     $ 7.9     $ 282.9     $ 257.8       6.7 %     9.7 %
Total revenue $ 307.2     $ 8.5     $ 315.7     $ 292.4       5.0 %     7.9 %
Billings $ 311.3     $ 8.6     $ 319.9     $ 296.8       4.9 %     7.8 %
Adjusted EBITDA $ 60.1     $ 3.8     $ 63.9     $ 63.0       -4.6 %     1.5 %

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