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) | 2019 | 2018 | 2019 | 2018 | ||||||||||||
| Revenue | ||||||||||||||||
| License | $ | 46,853 | $ | 40,880 | $ | 180,127 | $ | 154,515 | ||||||||
| Maintenance and other services | 30,963 | 23,302 | 85,388 | 69,943 | ||||||||||||
| Total software | 77,816 | 64,182 | 265,515 | 224,458 | ||||||||||||
| Software related services | 7,956 | 8,692 | 25,635 | 26,872 | ||||||||||||
| Total software and related services | 85,772 | 72,874 | 291,150 | 251,330 | ||||||||||||
| Client engineering services | 12,803 | 12,155 | 37,265 | 36,652 | ||||||||||||
| Other | 1,831 | 1,722 | 6,623 | 5,386 | ||||||||||||
| Total revenue | 100,406 | 86,751 | 335,038 | 293,368 | ||||||||||||
| Cost of revenue | ||||||||||||||||
| License | 4,371 | 2,736 | 13,146 | 10,534 | ||||||||||||
| Maintenance and other services | 9,548 | 7,095 | 27,509 | 22,202 | ||||||||||||
| Total software * | 13,919 | 9,831 | 40,655 | 32,736 | ||||||||||||
| Software related services | 6,013 | 6,352 | 19,143 | 19,573 | ||||||||||||
| Total software and related services | 19,932 | 16,183 | 59,798 | 52,309 | ||||||||||||
| Client engineering services | 10,160 | 9,817 | 29,993 | 29,977 | ||||||||||||
| Other | 1,649 | 1,204 | 5,858 | 3,416 | ||||||||||||
| Total cost of revenue | 31,741 | 27,204 | 95,649 | 85,702 | ||||||||||||
| Gross profit | 68,665 | 59,547 | 239,389 | 207,666 | ||||||||||||
| Operating expenses: | ||||||||||||||||
| Research and development * | 29,667 | 24,301 | 87,012 | 71,748 | ||||||||||||
| Sales and marketing * | 25,790 | 19,243 | 78,462 | 57,849 | ||||||||||||
| General and administrative * | 20,706 | 17,234 | 60,886 | 51,636 | ||||||||||||
| Amortization of intangible assets | 3,545 | 1,739 | 10,673 | 5,665 | ||||||||||||
| Other operating income | (536 | ) | (4,850 | ) | (1,702 | ) | (7,433 | ) | ||||||||
| Total operating expenses | 79,172 | 57,667 | 235,331 | 179,465 | ||||||||||||
| Operating (loss) income | (10,507 | ) | 1,880 | 4,058 | 28,201 | |||||||||||
| Interest expense | 2,726 | 31 | 3,586 | 92 | ||||||||||||
| Other income, net | (588 | ) | (970 | ) | (703 | ) | (2,046 | ) | ||||||||
| (Loss) income before income taxes | (12,645 | ) | 2,819 | 1,175 | 30,155 | |||||||||||
| Income tax expense | 3,294 | 1,885 | 7,215 | 5,617 | ||||||||||||
| Net (loss) income | $ | (15,939 | ) | $ | 934 | $ | (6,040 | ) | $ | 24,538 | ||||||
| Income per share: | ||||||||||||||||
| Net (loss) income per share attributable to common
stockholders, basic | $ | (0.22 | ) | $ | 0.01 | $ | (0.08 | ) | $ | 0.37 | ||||||
| Net (loss) income per share attributable to common
stockholders, diluted | $ | (0.22 | ) | $ | 0.01 | $ | (0.08 | ) | $ | 0.33 | ||||||
| Weighted average shares outstanding: | ||||||||||||||||
| Weighted average number of shares used in computing
net (loss) income per share, basic | 71,770 | 70,001 | 71,313 | 66,429 | ||||||||||||
| Weighted average number of shares used in computing
net (loss) income per share, diluted | 71,770 | 76,709 | 71,313 | 74,182 | ||||||||||||
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