Altair Q1 2024: record software rev $158.4M, net income $16.5M vs loss, raises guidance

Altair Engineering Inc.

2024-Q1 EPS reported $0.20 revenue$172,912,000

Software revenue record $158.4M (+5.9% YoY); total revenue $172.9M (+4.1% YoY).
Net income $16.5M vs net loss $2.0M in Q1 2023; diluted EPS $0.20.
Non-GAAP net income $36.2M (+13.9%); non-GAAP diluted EPS $0.40.
Adjusted EBITDA $45.8M (+6.4%); margin 26.5%. Free cash flow $70.7M.
Q2 2024 guidance: software rev $131-134M; FY24: software rev $590-600M, total rev $652-662M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Altair Engineering Inc. reported first quarter ended March 31, 2024 results: revenue $172.9 million, net income $16.5 million, EPS $0.20 per diluted share. Guidance reaffirmed.

Period: first quarter ended March 31, 2024
Revenue: $172.9 million
Net income: $16.5 million
EPS: $0.20 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Total revenue was $172.9 million compared to $166.0 million for the first quarter of 2023, an increase of 4.1% in reported currency and 5.1% in constant currency • Net income was $16.5 million compared to a net loss of $(2.0) million for the first quarter of 2023. Net income per share, diluted was $0.20 based on 89.8 million diluted weighted average common shares outstanding

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Source: SEC EDGAR

accession 0000950170-24-052143

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