Altair Announces Fourth Quarter and Full Year 2018 Financial

Altair Announces Fourth Quarter and Full Year 2018 Financial Results


The following table provides a reconciliation of Non-GAAP Total Revenue to Total Revenue, the most comparable GAAP financial measure (in millions):
		(Unaudited)
		Three months ending				Year ending
		March 31, 2019				December 31, 2019
		low		high		low		high
Total Revenue (GAAP)		$	123.0	$	125.0	$	470.0	$	474.0
Software licenses deferred revenue fair value adjustment (1)		2.2		2.2		9.0		9.0
Non-GAAP Total Revenue		$	125.2	$	127.2	$	479.0	$	483.0
(1) Adjustment for revenue impact of the Datawatch deferred revenue purchase accounting haircut required by U.S. GAAP


The following table provides a reconciliation of Non-GAAP Software Product Revenue to Total Software Product Revenue, the most comparable GAAP financial measure (in millions):

		(Unaudited)
		Three months ending				Year ending
		March 31, 2019				December 31, 2019
		low		high		low		high
Total Software Product Revenue (GAAP)		$	99.0	$	101.0	$	373.0	$	377.0
Software licenses deferred revenue fair value adjustment (1)		2.2		2.2		9.0		9.0
Non-GAAP Total Software Product Revenue		$	101.2	$	103.2	$	382.0	$	386.0
(1) Adjustment for revenue impact of the Datawatch deferred revenue purchase accounting haircut required by U.S. GAAP


The following table provides a reconciliation of projected net income to projected Non-GAAP net income, the most comparable GAAP financial measure (in thousands):

		(Unaudited)
		Three months ending				Year ending
		March 31, 2019				December 31, 2019
		low		high		low		high
Net income		$	10,500	$	12,500	$	18,000	$	22,000
Stock-based compensation expense		1,500		1,500		7,000		7,000
Amortization of intangible assets		3,800		3,800		15,200		15,200
	Non-GAAP net income	$	15,800	$	17,800	$	40,200	$	44,200


The following table provides a reconciliation of projected Adjusted EBITDA to projected net income, the most comparable GAAP financial measure (in thousands):

		(Unaudited)
		Three months ending				Year ending
		March 31, 2019				December 31, 2019
		low		high		low		high
Net income		$	10,500	$	12,500	$	18,000	$	22,000
Income tax expense		2,500		2,500		3,900		3,900
Stock-based compensation expense		1,500		1,500		7,000		7,000
Interest expense		-		-		-		-
Depreciation and amortization		5,600		5,600		22,200		22,200
Interest income and other non-recurring adjustments		700		700		900		900
Software licenses deferred revenue fair value adjustment (1)		2,200		2,200		9,000		9,000
	Adjusted EBITDA	$	23,000	$	25,000	$	61,000	$	65,000
(1) Adjustment for revenue impact of the Datawatch deferred revenue purchase accounting haircut required by U.S. GAAP

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