ALTAIR ENGINEERING INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
|
Three Months Ended
June 30, |
Six Months Ended
June 30, | |||||||||||||||
| (in thousands, except per share data) | 2022 | 2021 | 2022 | 2021 | ||||||||||||
| Revenue | ||||||||||||||||
| License | $ | 82,688 | $ | 66,632 | $ | 188,857 | $ | 163,027 | ||||||||
| Maintenance and other services | 34,205 | 32,926 | 68,933 | 66,072 | ||||||||||||
| Total software | 116,893 | 99,558 | 257,790 | 229,099 | ||||||||||||
| Software related services | 7,376 | 7,481 | 16,437 | 15,579 | ||||||||||||
| Total software and related services | 124,269 | 107,039 | 274,227 | 244,678 | ||||||||||||
| Client engineering services | 7,047 | 10,268 | 15,059 | 20,945 | ||||||||||||
| Other | 1,340 | 2,605 | 3,151 | 4,452 | ||||||||||||
| Total revenue | 132,656 | 119,912 | 292,437 | 270,075 | ||||||||||||
| Cost of revenue | ||||||||||||||||
| License | 4,120 | 3,617 | 8,807 | 9,012 | ||||||||||||
| Maintenance and other services | 12,884 | 12,043 | 25,603 | 23,598 | ||||||||||||
| Total software * | 17,004 | 15,660 | 34,410 | 32,610 | ||||||||||||
| Software related services | 5,464 | 5,731 | 11,499 | 11,853 | ||||||||||||
| Total software and related services | 22,468 | 21,391 | 45,909 | 44,463 | ||||||||||||
| Client engineering services | 5,914 | 8,293 | 12,555 | 17,181 | ||||||||||||
| Other | 1,141 | 2,262 | 2,662 | 3,724 | ||||||||||||
| Total cost of revenue | 29,523 | 31,946 | 61,126 | 65,368 | ||||||||||||
| Gross profit | 103,133 | 87,966 | 231,311 | 204,707 | ||||||||||||
| Operating expenses: | ||||||||||||||||
| Research and development * | 46,477 | 38,757 | 89,571 | 77,033 | ||||||||||||
| Sales and marketing * | 39,116 | 31,909 | 74,798 | 63,979 | ||||||||||||
| General and administrative * | 24,367 | 21,861 | 47,936 | 45,787 | ||||||||||||
| Amortization of intangible assets | 6,208 | 4,615 | 12,111 | 9,492 | ||||||||||||
| Other operating income, net | (5,767 | ) | (585 | ) | (6,548 | ) | (1,202 | ) | ||||||||
| Total operating expenses | 110,401 | 96,557 | 217,868 | 195,089 | ||||||||||||
| Operating (loss) income | (7,268 | ) | (8,591 | ) | 13,443 | 9,618 | ||||||||||
| Interest expense | 700 | 2,988 | 1,285 | 5,961 | ||||||||||||
| Other expense, net | 21,907 | 708 | 23,975 | 1,543 | ||||||||||||
| (Loss) income before income taxes | (29,875 | ) | (12,287 | ) | (11,817 | ) | 2,114 | |||||||||
| Income tax expense | 3,899 | 1,361 | 10,429 | 1,402 | ||||||||||||
| Net (loss) income | $ | (33,774 | ) | $ | (13,648 | ) | $ | (22,246 | ) | $ | 712 | |||||
| (Loss) income per share: | ||||||||||||||||
| Net (loss) income per share attributable to common
stockholders, basic | $ | (0.43 | ) | $ | (0.18 | ) | $ | (0.28 | ) | $ | 0.01 | |||||
| Net (loss) income per share attributable to common
stockholders, diluted | $ | (0.43 | ) | $ | (0.18 | ) | $ | (0.28 | ) | $ | 0.01 | |||||
| Weighted average shares outstanding: | ||||||||||||||||
| Weighted average number of shares used in computing
net (loss) income per share, basic | 78,948 | 75,263 | 79,204 | 74,959 | ||||||||||||
| Weighted average number of shares used in computing
net (loss) income per share, diluted | 78,948 | 75,263 | 79,204 | 79,851 | ||||||||||||
* Amounts include stock-based compensation expense as follows (in thousands):
