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Mar 31, 2024
Altair Q1 2024 Earnings Report
Altair achieved record software and total revenue in the first quarter.
Key Takeaways
Altair reported record-high quarterly software and total revenue, exceeding expectations due to the strength of its product portfolio and growth across all major geographies and verticals.
Software revenue increased by 5.9% to $158.4 million compared to Q1 2023.
Total revenue increased by 4.1% to $172.9 million compared to Q1 2023.
Net income was $16.5 million, a significant improvement from a net loss of $(2.0) million in Q1 2023.
Adjusted EBITDA increased by 6.4% to $45.8 million compared to $43.1 million for the first quarter of 2023.
Altair
Altair
Altair Revenue by Segment
Revenue by Segment
License Revenue
CapyFin.comMaintenance and other services Revenue
CapyFin.com Forward Guidance
Altair is issuing the following guidance for the second quarter and full year 2024:
Positive Outlook
- Software Revenue for Q2 2024 is expected to be $131 to $134 million.
- Total Revenue for Q2 2024 is expected to be $145 to $148 million.
- Software Revenue for Full Year 2024 is expected to be $590 to $600 million.
- Total Revenue for Full Year 2024 is expected to be $652 to $662 million.
- Adjusted EBITDA for Full Year 2024 is expected to be $138 to $146 million.
Challenges Ahead
- Net (Loss) Income for Q2 2024 is expected to be $(12.3) to $(9.4) million.
- Non-GAAP Net Income for Q2 2024 is expected to be $12.7 to $15.0 million.
- Net (Loss) Income for Full Year 2024 is expected to be $23.2 to $30.9 million.
- Non-GAAP Net Income for Full Year 2024 is expected to be $109.9 to $115.9 million.
- Net Cash Provided by Operating Activities for Full Year 2024 is expected to be $135 to $143 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income