Altair Announces Third Quarter 2022 Financial Results

Financial Results

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

  (Unaudited) 
   Three Months Ended
September 30,
   Nine Months Ended
September 30,
 
(in thousands, except per share amounts)  2022   2021   2022   2021 
Net loss $(33,248) $(8,109) $(55,494) $(7,397)
Stock-based compensation expense  22,710   10,933   62,524   31,229 
Amortization of intangible assets  6,571   4,432   18,682   13,924 
Non-cash interest expense  501   2,876   1,339   8,513 
Restructuring expense     (124)     4,954 
Impact of non-GAAP tax rate (1)  3,079     (366 )     (1,878 )     (10,044 )
Special adjustments and other (2)     4,657             22,886        
Non-GAAP net income   $ 4,270     $ 9,642     $ 48,059     $ 41,179  
                         
Net loss per share, diluted   $ (0.42 )   $ (0.11 )   $ (0.70 )   $ (0.10 )
Non-GAAP net income per share, diluted   $ 0.05     $ 0.12     $ 0.55     $ 0.51  
                         
GAAP diluted shares outstanding     79,207       75,750       79,205       75,226  
Non-GAAP diluted shares outstanding (3)     88,100       81,063       86,708       80,345  

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