Altair Engineering Inc. and Subsidiaries | ||||||||||
Consolidated Statements of Operations | ||||||||||
(Unaudited) | ||||||||||
Three Months Ended
March 31, | ||||||||||
(in thousands, except per share data) | 2019 | 2018 | ||||||||
Revenue | ||||||||||
License | $ | 76,621 | $ | 66,935 | ||||||
Maintenance and other services | 26,670 | 22,734 | ||||||||
Total software | 103,291 | 89,669 | ||||||||
Software related services | 9,772 | 9,473 | ||||||||
Total software and related services | 113,063 | 99,142 | ||||||||
Client engineering services | 12,050 | 12,080 | ||||||||
Other | 2,746 | 2,035 | ||||||||
Total revenue | 127,859 | 113,257 | ||||||||
Cost of revenue | ||||||||||
License * | 5,821 | 3,730 | ||||||||
Maintenance and other services * | 8,531 | 7,192 | ||||||||
Total software | 14,352 | 10,922 | ||||||||
Software related services | 6,518 | 6,709 | ||||||||
Total software and related services | 20,870 | 17,631 | ||||||||
Client engineering services | 9,800 | 10,200 | ||||||||
Other | 2,215 | 1,211 | ||||||||
Total cost of revenue | 32,885 | 29,042 | ||||||||
Gross profit | 94,974 | 84,215 | ||||||||
Operating expenses: | ||||||||||
Research and development* | 27,516 | 22,703 | ||||||||
Sales and marketing* | 26,451 | 18,627 | ||||||||
General and administrative* | 20,329 | 16,990 | ||||||||
Amortization of intangible assets | 3,528 | 1,940 | ||||||||
Other operating income | (617 | ) | (2,191 | ) | ||||||
Total operating expenses | 77,207 | 58,069 | ||||||||
Operating income | 17,767 | 26,146 | ||||||||
Interest expense | 270 | 16 | ||||||||
Other expense (income), net | 390 | (900 | ) | |||||||
Income before income taxes | 17,107 | 27,030 | ||||||||
Income tax expense | 4,088 | 2,346 | ||||||||
Net income | $ | 13,019 | $ | 24,684 | ||||||
Income per share: | ||||||||||
Net income per share attributable to common stockholders, basic | $ | 0.18 | $ | 0.39 | ||||||
Net income per share attributable to common stockholders, diluted | $ | 0.17 | $ | 0.34 | ||||||
Weighted average shares outstanding: | ||||||||||
Weighted average number of shares used in computing net income per share,
basic | 70,786 | 63,638 | ||||||||
Weighted average number of shares used in computing net income per share,
diluted | 76,720 | 72,390 | ||||||||