Altair Announces Fourth Quarter and Full Year 2021 Financial Results

Financial Results

The following table provides a reconciliation Adjusted EBITDA, Non-GAAP net income and Non-GAAP net income per share – diluted, to net loss and net loss per share – diluted, the most comparable GAAP financial measures:

  (Unaudited) 
   Three Months Ended
December 31,
   Twelve Months Ended
December 31,
 
(in thousands, except per share amounts)  2021   2020   2021   2020 
Net (loss) income $(1,397) $2,198  $(8,794) $(10,500)
Stock-based compensation expense  13,320   7,416   44,549   21,355 
Amortization of intangible assets  4,433   4,986   18,357   16,376 
Non-cash interest expense  2,915   2,762   11,428   10,824 
Restructuring expense  99      5,053    
Impact of non-GAAP tax rate  (1,696)  (2,900)  (11,740)  (525)
Special adjustments and other (1)  (1,229)       (1,229 )     (372 )
Non-GAAP net income     16,445       14,462       57,624       37,158  
Depreciation expense     1,856       1,904       7,287       7,430  
Cash interest (income) expense     (114 )     244       96       (357 )
Income tax expense, net of non-GAAP impact     5,778       5,082       20,246       13,057  
Adjusted EBITDA   $ 23,965     $ 21,692     $ 85,253     $ 57,288  
                                 
Net (loss) income per share, diluted   $ (0.02 )   $ 0.03     $ (0.12 )   $ (0.14 )
Non-GAAP net income per share, diluted   $ 0.19     $ 0.17     $ 0.66     $ 0.45  
                                 
GAAP diluted shares outstanding:     79,008       78,484       76,179       73,241  
Non-GAAP diluted shares outstanding:     87,300       83,000       87,300       83,000  

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