Altair Announces Third Quarter 2024 Financial Results

The following table provides the calculation of non-GAAP diluted common shares and non-GAAP net income per share, diluted:

   Three Months Ended
September 30,
   Nine Months Ended
September 30,
  
   2024   2023   2024   2023  
Numerator:                
 Non-GAAP net income$21,214  $12,682  $72,220  $57,679  
 Interest expense related to convertible notes, net of tax (1)            
 Numerator for non-GAAP diluted income per share$21,214  $12,682  $72,220   $ 57,679    
Denominator:                                
  Weighted average shares outstanding, basic   84,835       80,431       83,680       80,204    
  Effect of dilutive shares   3,590       4,916       4,174       4,653    
  Non-GAAP diluted shares outstanding   88,425       85,347       87,854       84,857    
Non-GAAP net income per share, diluted $ 0.24     $ 0.15     $ 0.82     $ 0.68    
                                   
(1) Interest expense related to the convertible notes has been excluded from the numerator for non-GAAP diluted earnings per share because its effect would have been anti-dilutive.                 
   

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