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ALTAIR ENGINEERING INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) | |||||||||||||||
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Three Months Ended
December 31, 2023 |
Year Ended
December 31, 2023 | ||||||||||||||
| (in thousands, except per share data) | 2023 | 2022 | 2023 | 2022 | |||||||||||
| Revenue | |||||||||||||||
| License | $ | 113,172 | $ | 107,418 | $ | 393,144 | $ | 363,520 | |||||||
| Maintenance and other services | 42,761 | 37,535 | 156,830 | 142,988 | |||||||||||
| Total software | 155,933 | 144,953 | 549,974 | 506,508 | |||||||||||
| Software related services | 7,751 | 7,518 | 28,032 | 30,661 | |||||||||||
| Total software and related services | 163,684 | 152,471 | 578,006 | 537,169 | |||||||||||
| Client engineering services | 6,561 | 6,469 | 29,497 | 28,883 | |||||||||||
| Other | 1,258 | 1,493 | 5,198 | 6,169 | |||||||||||
| Total revenue | 171,503 | 160,433 | 612,701 | 572,221 | |||||||||||
| Cost of revenue | |||||||||||||||
| License | 3,200 | 9,111 | 15,088 | 20,497 | |||||||||||
| Maintenance and other services | 14,340 | 13,318 | 56,094 | 51,946 | |||||||||||
| Total software * | 17,540 | 22,429 | 71,182 | 72,443 | |||||||||||
| Software related services | 5,655 | 5,119 | 21,830 | 21,858 | |||||||||||
| Total software and related services | 23,195 | 27,548 | 93,012 | 94,301 | |||||||||||
| Client engineering services | 5,129 | 5,187 | 24,450 | 23,577 | |||||||||||
| Other | 849 | 1,119 | 4,329 | 5,011 | |||||||||||
| Total cost of revenue | 29,173 | 33,854 | 121,791 | 122,889 | |||||||||||
| Gross profit | 142,330 | 126,579 | 490,910 | 449,332 | |||||||||||
| Operating expenses: | |||||||||||||||
| Research and development * | 52,519 | 51,934 | 212,645 | 202,542 | |||||||||||
| Sales and marketing * | 43,595 | 43,539 | 176,138 | 163,884 | |||||||||||
| General and administrative * | 17,096 | 18,234 | 70,887 | 72,288 | |||||||||||
| Amortization of intangible assets | 7,708 | 8,828 | 30,851 | 27,510 | |||||||||||
| Other operating (income) expense, net | (1,178 | ) | (572 | ) | 146 | (9,955 | ) | ||||||||
| Total operating expenses | 119,740 | 121,963 | 490,667 | 456,269 | |||||||||||
| Operating income (loss) | 22,590 | 4,616 | 243 | (6,937 | ) | ||||||||||
| Interest expense | 1,533 | 1,526 | 6,116 | 4,377 | |||||||||||
| Other (income) loss, net | (8,794 | ) | (9,183 | ) | (18,492 | ) | 16,899 | ||||||||
| Income (loss) before income taxes | 29,851 | 12,273 | 12,619 | (28,213 | ) | ||||||||||
| Income tax expense | 10,176 | 208 | 21,545 | 15,216 | |||||||||||
| Net income (loss) | $ | 19,675 | $ | 12,065 | $ | (8,926 | ) | $ | (43,429 | ) | |||||
| Income (loss) per share: | |||||||||||||||
| Net income (loss) per share attributable to common stockholders, basic | $ | 0.24 | $ | 0.15 | $ | (0.11 | ) | $ | (0.55 | ) | |||||
| Net income (loss) per share attributable to common stockholders, diluted | $ | 0.22 | $ | 0.14 | $ | (0.11 | ) | $ | (0.55 | ) | |||||
| Weighted average shares outstanding: | |||||||||||||||
| Weighted average number of shares used in computing net income (loss) per share, basic | 81,760 | 80,266 | 80,596 | 79,472 | |||||||||||
| Weighted average number of shares used in computing net income (loss) per share, diluted | 88,977 | 87,498 | 80,596 | 79,472 | |||||||||||
