Altair Announces First Quarter 2022 Financial Results

Financial Results

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

  (Unaudited) 
   Three Months Ended
March 31,
 
(in thousands, except per share amounts)  2022   2021 
Net income $11,528  $14,360 
Stock-based compensation expense  18,614   9,648 
Amortization of intangible assets  5,903   4,877 
Non-cash interest expense  417   2,800 
Restructuring expense     3,346 
Impact of non-GAAP tax rate  (5,036)  (9,077)
Special adjustments and other (1)  1,492    
Non-GAAP net income  32,918   25,954 
Depreciation expense  1,783   1,809 
Cash interest expense, net  323   79 
Income tax expense, net of non-GAAP impact  11,566   9,118 
Adjusted EBITDA $46,590  $36,960 
            
Net income per share, diluted   $ 0.13     $ 0.18  
Non-GAAP net income per share, diluted   $ 0.38     $ 0.33  
                 
GAAP diluted shares outstanding     87,261       79,295  
Non-GAAP diluted shares outstanding (2)     87,261       79,295  

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