ALTAIR ENGINEERING INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
|
For the Three Months Ended
December 31, |
For the Year Ended
December 31, | |||||||||||||||
| (in thousands, except per share data) | 2021 | 2020 | 2021 | 2020 | ||||||||||||
| Revenue | ||||||||||||||||
| License | $ | 94,178 | $ | 76,381 | $ | 324,808 | $ | 259,965 | ||||||||
| Maintenance and other services | 28,180 | 37,244 | 128,938 | 131,746 | ||||||||||||
| Total software | 122,358 | 113,625 | 453,746 | 391,711 | ||||||||||||
| Software related services | 8,594 | 7,906 | 31,823 | 26,454 | ||||||||||||
| Total software and related services | 130,952 | 121,531 | 485,569 | 418,165 | ||||||||||||
| Client engineering services | 8,277 | 9,934 | 39,282 | 44,320 | ||||||||||||
| Other | 1,568 | 1,976 | 7,328 | 7,436 | ||||||||||||
| Total revenue | 140,797 | 133,441 | 532,179 | 469,921 | ||||||||||||
| Cost of revenue | ||||||||||||||||
| License | 6,223 | 6,786 | 19,929 | 19,637 | ||||||||||||
| Maintenance and other services | 12,494 | 10,105 | 47,862 | 38,688 | ||||||||||||
| Total software * | 18,717 | 16,891 | 67,791 | 58,325 | ||||||||||||
| Software related services | 5,645 | 6,102 | 23,205 | 21,243 | ||||||||||||
| Total software and related services | 24,362 | 22,993 | 90,996 | 79,568 | ||||||||||||
| Client engineering services | 6,547 | 8,067 | 31,710 | 35,684 | ||||||||||||
| Other | 1,888 | 1,631 | 6,960 | 6,053 | ||||||||||||
| Total cost of revenue | 32,797 | 32,691 | 129,666 | 121,305 | ||||||||||||
| Gross profit | 108,000 | 100,750 | 402,513 | 348,616 | ||||||||||||
| Operating expenses: | ||||||||||||||||
| Research and development * | 38,177 | 34,966 | 151,049 | 126,081 | ||||||||||||
| Sales and marketing * | 38,182 | 30,537 | 132,750 | 111,440 | ||||||||||||
| General and administrative * | 23,517 | 22,933 | 91,500 | 86,432 | ||||||||||||
| Amortization of intangible assets | 4,433 | 4,986 | 18,357 | 16,376 | ||||||||||||
| Other operating (income) loss, net | (956 | ) | 5 | (3,482 | ) | (3,426 | ) | |||||||||
| Total operating expenses | 103,353 | 93,427 | 390,174 | 336,903 | ||||||||||||
| Operating income | 4,647 | 7,323 | 12,339 | 11,713 | ||||||||||||
| Interest expense | 3,067 | 3,008 | 12,065 | 11,598 | ||||||||||||
| Other (income) loss, net | (1,105 | ) | (65 | ) | 562 | (1,917 | ) | |||||||||
| Income (loss) before income taxes | 2,685 | 4,380 | (288 | ) | 2,032 | |||||||||||
| Income tax expense | 4,082 | 2,182 | 8,506 | 12,532 | ||||||||||||
| Net (loss) income | $ | (1,397 | ) | $ | 2,198 | $ | (8,794 | ) | $ | (10,500 | ) | |||||
| (Loss) income per share: | ||||||||||||||||
| Net (loss) income per share attributable to common stockholders, basic | $ | (0.02 | ) | $ | 0.03 | $ | (0.12 | ) | $ | (0.14 | ) | |||||
| Net (loss) income per share attributable to common stockholders, diluted | $ | (0.02 | ) | $ | 0.03 | $ | (0.12 | ) | $ | (0.14 | ) | |||||
| Weighted average shares outstanding: | ||||||||||||||||
| Weighted average number of shares used in computing net (loss) income per share, basic | 79,008 | 74,020 | 76,179 | 73,241 | ||||||||||||
| Weighted average number of shares used in computing net (loss) income per share, diluted | 79,008 | 78,484 | 76,179 | 73,241 | ||||||||||||
