Altair
🇺🇸 NASDAQ:ALTR
•
Dec 31, 2024
Altair Q4 2024 Earnings Report
Altair reported a modest increase in total revenue for Q4 2024, with net income declining significantly year-over-year.
Key Takeaways
Altair's Q4 2024 revenue grew by 12.3% year-over-year, driven by software sales. However, net income declined sharply to $1.0 million from $19.7 million a year ago. Non-GAAP earnings improved, reflecting strong operational adjustments. The company is in the process of being acquired by Siemens.
Total revenue increased 12.3% year-over-year to $192.6 million.
Net income declined significantly to $1.0 million from $19.7 million in Q4 2023.
Non-GAAP EPS increased to $0.52 from $0.47 in the prior-year quarter.
Free cash flow increased to $33.2 million from $19.3 million.
Altair Revenue
Altair EPS
Altair Revenue by Segment
Forward Guidance
Due to the pending Siemens acquisition, Altair has suspended its financial guidance.
Positive Outlook
- Continued growth in software revenue, up 15.0% year-over-year.
- Strong non-GAAP net income growth, increasing $6.3 million YoY.
- Improved free cash flow, reaching $33.2 million.
- Increased adjusted EBITDA margin to 31.7%.
- Pending acquisition by Siemens expected to drive strategic synergies.
Challenges Ahead
- Significant decline in GAAP net income from $19.7 million to $1.0 million.
- Lower net income margin of 0.5% compared to 11.5% in Q4 2023.
- Increase in operating expenses, impacting profitability.
- No financial guidance provided due to pending acquisition.
- Potential integration risks associated with Siemens merger.
Revenue & Expenses
Visualization of income flow from segment revenue to net income