Altair Announces Second Quarter 2022 Financial Results

The following table provides a reconciliation of projected Adjusted EBITDA to projected net loss, the most comparable GAAP financial measure:

  (Unaudited) 
   Three Months Ending
September 30, 2022
   Year Ending
December 31, 2022
 
(in thousands)  Low   High   Low   High 
Net loss $(34,900) $(31,000) $(66,100) $(56,500)
Income tax expense  3,000   3,100   17,200   17,600 
Stock-based compensation expense  23,700   23,700   86,400   86,400 
Interest expense  200   200   1,300   1,300 
Depreciation and amortization  8,000   8,000   32,000   32,000 
Special adjustments and other(1)        18,200     18,200  
Adjusted EBITDA   $     $ 4,000     $ 89,000     $ 99,000  

(1) Year ending December 31, 2022, includes $16.6 million expense on the repurchase of convertible senior notes, $6.9 million currency losses on acquisition-related intercompany loans and $5.3 million gain from a mark-to-market adjustment of contingent consideration associated with the World Programming acquisition.

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