Altair Announces Third Quarter 2022 Financial Results

(1)   Year ending December 31, 2022, includes $16.6 million expense on the repurchase of convertible senior notes, $13.7 million currency losses on acquisition-related intercompany loans and $7.5 million gain from the mark-to-market adjustment of contingent consideration associated with the World Programming acquisition.

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

  (Unaudited) 
   Three Months Ending
December 31, 2022
   Year Ending
December 31, 2022
 
(in thousands)  Low   High   Low   High 
Net loss $(15,000) $(12,100) $(70,300) $(67,400)
Income tax expense  3,900   4,000   18,900   19,000 
Stock-based compensation expense  21,600   21,600   84,100   84,100 
Interest (income) expense  (300)  (300)  500   500 
Depreciation and amortization  11,800   11,800   35,900   35,900 
Special adjustments and other(1)            22,900       22,900  
Adjusted EBITDA   $ 22,000     $ 25,000     $ 92,000     $ 95,000  

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