| ALTAIR ENGINEERING INC. AND SUBSIDIARIES | ||||||||
| CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||
| (Unaudited) | ||||||||
|
Three Months Ended
March 31, | ||||||||
| (in thousands, except per share data) | 2023 | 2022 | ||||||
| Revenue | ||||||||
| License | $ | 112,409 | $ | 106,169 | ||||
| Maintenance and other services | 37,234 | 34,728 | ||||||
| Total software | 149,643 | 140,897 | ||||||
| Software related services | 7,100 | 9,061 | ||||||
| Total software and related services | 156,743 | 149,958 | ||||||
| Client engineering services | 7,776 | 8,012 | ||||||
| Other | 1,515 | 1,811 | ||||||
| Total revenue | 166,034 | 159,781 | ||||||
| Cost of revenue | ||||||||
| License | 4,824 | 4,687 | ||||||
| Maintenance and other services | 14,426 | 12,719 | ||||||
| Total software * | 19,250 | 17,406 | ||||||
| Software related services | 5,616 | 6,035 | ||||||
| Total software and related services | 24,866 | 23,441 | ||||||
| Client engineering services | 6,624 | 6,641 | ||||||
| Other | 1,245 | 1,521 | ||||||
| Total cost of revenue | 32,735 | 31,603 | ||||||
| Gross profit | 133,299 | 128,178 | ||||||
| Operating expenses: | ||||||||
| Research and development * | 53,251 | 47,079 | ||||||
| Sales and marketing * | 43,492 | 37,840 | ||||||
| General and administrative * | 17,951 | 17,426 | ||||||
| Amortization of intangible assets | 7,814 | 5,903 | ||||||
| Other operating expense (income), net | 5,605 | (781 | ) | |||||
| Total operating expenses | 128,113 | 107,467 | ||||||
| Operating income | 5,186 | 20,711 | ||||||
| Interest expense | 1,526 | 585 | ||||||
| Other (income) expense, net | (3,613 | ) | 2,068 | |||||
| Income before income taxes | 7,273 | 18,058 | ||||||
| Income tax expense | 9,232 | 6,530 | ||||||
| Net (loss) income | $ | (1,959 | ) | $ | 11,528 | |||
| (Loss) income per share: | ||||||||
| Net (loss) income per share attributable to common
stockholders, basic | $ | (0.02 | ) | $ | 0.15 | |||
| Net (loss) income per share attributable to common
stockholders, diluted | $ | (0.02 | ) | $ | 0.13 | |||
| Weighted average shares outstanding: | ||||||||
| Weighted average number of shares used in computing
net (loss) income per share, basic | 80,191 | 79,462 | ||||||
| Weighted average number of shares used in computing
net (loss) income per share, diluted | 80,191 | 87,261 | ||||||
* Amounts include stock-based compensation expense as follows (in thousands):
