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Sep 30, 2024
Altair Q3 2024 Earnings Report
Altair's financial performance showed significant growth in software revenue and adjusted EBITDA, with net income turning positive, driven by strong operational execution.
Key Takeaways
Altair reported a strong third quarter with a 13.0% increase in total revenue to $151.5 million and a significant improvement in net income to $1.8 million, compared to a net loss of $(4.4) million in the same quarter last year. Adjusted EBITDA increased by 66.3% to $25.7 million. The company is being acquired by Siemens.
Total revenue increased by 13.0% year-over-year, reaching $151.5 million.
Software revenue grew by 16.5% year-over-year, amounting to $138.7 million.
Net income improved to $1.8 million, a $6.2 million increase from the previous year's net loss.
Adjusted EBITDA saw a substantial rise of 66.3%, reaching $25.7 million.
Altair
Altair
Altair Revenue by Segment
Revenue by Segment
License Revenue
CapyFin.comMaintenance and other services Revenue
CapyFin.com Forward Guidance
Altair is suspending quarterly financial results conference calls and its quarterly and annual guidance due to the proposed transaction with Siemens.
Revenue & Expenses
Visualization of income flow from segment revenue to net income