Altair Announces Third Quarter 2020 Financial Results


 (1) Included in 2020 are a) $1.0 million of proceeds from settlements related to a historical acquisition for both the three and nine months ended September 30, 2020, and b) $0.6 million of severance expense for the nine months ended September 30, 2020.
Included in 2019 are a) nonrecurring severance expenses of $0.4 million and nonrecurring acquisition related costs of $0.6 million for both the three and nine months ended September 30, 2019, and b) impairment charges for royalty contracts of $1.0 million for the nine months ended September 30, 2019.

The following table provides a reconciliation of Adjusted EBITDA to net loss, the most comparable GAAP financial measure:


 (Unaudited) 
  Three Months Ended
September 30,
   Nine Months Ended
September 30,
 
(in thousands) 2020   2019   2020   2019 
Net loss$(8,505) $(15,939) $(12,698) $(6,040)
Income tax expense 2,930   3,294   10,350   7,215 
Stock-based compensation expense 6,234   2,292   13,939   5,584 
Interest expense 2,934   2,726   8,590   3,586 
Interest income and other (1) (1,041)  (76)  (1,501)  633 
Depreciation and amortization 5,623   5,368   16,916   15,836 
Adjusted EBITDA $ 8,175     $ (2,335 )   $ 35,596     $ 26,814  

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