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) | 2020 | 2019 | 2020 | 2019 | |||||||||||
| Revenue | |||||||||||||||
| License | $ | 55,023 | $ | 46,853 | $ | 183,584 | $ | 180,127 | |||||||
| Maintenance and other services | 32,787 | 30,963 | 94,502 | 85,388 | |||||||||||
| Total software | 87,810 | 77,816 | 278,086 | 265,515 | |||||||||||
| Software related services | 6,170 | 7,956 | 18,548 | 25,635 | |||||||||||
| Total software and related services | 93,980 | 85,772 | 296,634 | 291,150 | |||||||||||
| Client engineering services | 10,868 | 12,803 | 34,386 | 37,265 | |||||||||||
| Other | 1,608 | 1,831 | 5,460 | 6,623 | |||||||||||
| Total revenue | 106,456 | 100,406 | 336,480 | 335,038 | |||||||||||
| Cost of revenue | |||||||||||||||
| License | 4,477 | 4,371 | 12,851 | 13,146 | |||||||||||
| Maintenance and other services | 9,626 | 9,548 | 28,583 | 27,509 | |||||||||||
| Total software * | 14,103 | 13,919 | 41,434 | 40,655 | |||||||||||
| Software related services | 4,996 | 6,013 | 15,141 | 19,143 | |||||||||||
| Total software and related services | 19,099 | 19,932 | 56,575 | 59,798 | |||||||||||
| Client engineering services | 8,510 | 10,160 | 27,617 | 29,993 | |||||||||||
| Other | 1,427 | 1,649 | 4,422 | 5,858 | |||||||||||
| Total cost of revenue | 29,036 | 31,741 | 88,614 | 95,649 | |||||||||||
| Gross profit | 77,420 | 68,665 | 247,866 | 239,389 | |||||||||||
| Operating expenses: | |||||||||||||||
| Research and development * | 30,678 | 29,667 | 91,115 | 87,012 | |||||||||||
| Sales and marketing * | 26,998 | 25,790 | 80,903 | 78,462 | |||||||||||
| General and administrative * | 20,905 | 20,706 | 63,499 | 60,886 | |||||||||||
| Amortization of intangible assets | 3,858 | 3,545 | 11,390 | 10,673 | |||||||||||
| Other operating income, net | (1,596 | ) | (536 | ) | (3,431 | ) | (1,702 | ) | |||||||
| Total operating expenses | 80,843 | 79,172 | 243,476 | 235,331 | |||||||||||
| Operating (loss) income | (3,423 | ) | (10,507 | ) | 4,390 | 4,058 | |||||||||
| Interest expense | 2,934 | 2,726 | 8,590 | 3,586 | |||||||||||
| Other income net | (782 | ) | (588 | ) | (1,852 | ) | (703 | ) | |||||||
| (Loss) income before income taxes | (5,575 | ) | (12,645 | ) | (2,348 | ) | 1,175 | ||||||||
| Income tax expense | 2,930 | 3,294 | 10,350 | 7,215 | |||||||||||
| Net loss | $ | (8,505 | ) | $ | (15,939 | ) | $ | (12,698 | ) | $ | (6,040 | ) | |||
| Loss per share: | |||||||||||||||
| Net loss per share attributable to common
stockholders, basic and diluted | $ | (0.12 | ) | $ | (0.22 | ) | $ | (0.17 | ) | $ | (0.08 | ) | |||
| Weighted average shares outstanding: | |||||||||||||||
| Weighted average number of shares used in computing
net loss per share, basic and diluted | 73,311 | 71,770 | 72,979 | 71,313 | |||||||||||
