Altair Announces Fourth Quarter 2019 Financial Results

    Three months ended  
    ASC 606  
(in thousands)   March 31,
2018
    June 30,
2018
    September 30,
2018
    December 31,
2018
 
Software product revenue $89,670  $70,606  $64,182  $79,903 
Total revenue $113,257  $93,360  $86,751  $103,011 
Net income (loss) $24,684  $(1,080) $934  $(9,003)
Adjusted EBITDA $29,550  $5,303  $2,399  $12,928 

Disaggregation of revenue

The Company disaggregates its software revenue by type of performance obligation and timing of revenue recognition as follows (in thousands):

    Year Ended December 31,  
    2019     2018  
Software revenue:                
Term licenses   $ 201,881     $ 168,909  
Perpetual licenses     42,440       38,255  
Maintenance     103,699       86,150  
Professional services and other     18,682       11,047  
Total software revenue   $ 366,702     $ 304,361  
                 

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