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Jun 30, 2024
Altair Q2 2024 Earnings Report
Altair exceeded revenue expectations driven by robust software product lineup.
Key Takeaways
Altair reported strong Q2 2024 financial results, with software and total revenue exceeding guidance. Total revenue increased by 5.4% to $148.8 million, and software revenue grew by 8.1% to $135.4 million. The company reported a net loss of $(5.1) million, but non-GAAP net income rose by 12.1% to $14.8 million.
Software revenue increased by 8.1% to $135.4 million compared to Q2 2023.
Total revenue increased by 5.4% to $148.8 million compared to Q2 2023.
Net loss was $(5.1) million, an improvement from $(22.3) million in Q2 2023.
Non-GAAP net income increased by 12.1% to $14.8 million compared to Q2 2023.
Revenue by Segment
Forward Guidance
Altair is issuing guidance for the third quarter and full year 2024.
Positive Outlook
- Software Revenue (Q3 2024): $130 to $133 million
- Total Revenue (Q3 2024): $145 to $148 million
- Software Revenue (FY 2024): $590 to $600 million
- Total Revenue (FY 2024): $648 to $658 million
- Adjusted EBITDA (FY 2024): $136 to $144 million
Challenges Ahead
- Net (Loss) Income (Q3 2024): $(14.0) to $(11.1) million
- Non-GAAP Net Income (Q3 2024): $13.4 to $15.7 million
- Net (Loss) Income (FY 2024): $22.6 to $30.3 million
- Non-GAAP Net Income (FY 2024): $108.4 to $114.4 million
- Net Cash Provided by Operating Activities (FY 2024): $133 to $141 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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