Altair Announces Second Quarter 2021 Financial Results

CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)

	Three Months Ended June 30,						Six Months Ended June 30,
(in thousands, except per share data)	2021			2020			2021			2020
Revenue
License	$	66,632		$	51,018		$	163,027		$	128,561
Maintenance and other services		32,926			30,815			66,072			61,715
Total software		99,558			81,833			229,099			190,276
Software related services		7,481			5,444			15,579			12,378
Total software and related services		107,039			87,277			244,678			202,654
Client engineering services		10,268			9,640			20,945			23,518
Other		2,605			1,644			4,452			3,852
Total revenue		119,912			98,561			270,075			230,024
Cost of revenue
License		3,617			2,851			9,012			8,374
Maintenance and other services		12,043			8,502			23,598			18,957
Total software *		15,660			11,353			32,610			27,331
Software related services		5,731			4,656			11,853			10,145
Total software and related services		21,391			16,009			44,463			37,476
Client engineering services		8,293			7,789			17,181			19,107
Other		2,262			1,283			3,724			2,995
Total cost of revenue		31,946			25,081			65,368			59,578
Gross profit		87,966			73,480			204,707			170,446
Operating expenses:
Research and development *		38,757			28,970			77,033			60,437
Sales and marketing *		31,909			25,806			63,979			53,905
General and administrative *		21,861			20,248			45,787			42,594
Amortization of intangible assets		4,615			3,692			9,492			7,532
Other operating income, net		(585	)		(944	)		(1,202	)		(1,835	)
Total operating expenses		96,557			77,772			195,089			162,633
Operating (loss) income		(8,591	)		(4,292	)		9,618			7,813
Interest expense		2,988			2,843			5,961			5,656
Other expense (income), net		708			320			1,543			(1,070	)
(Loss) income before income taxes		(12,287	)		(7,455	)		2,114			3,227
Income tax expense		1,361			2,768			1,402			7,420
Net (loss) income	$	(13,648	)	$	(10,223	)	$	712		$	(4,193	)
(Loss) income per share:
Net (loss) income per share attributable to common stockholders, basic	$	(0.18	)	$	(0.14	)	$	0.01		$	(0.06	)
Net (loss) income per share attributable to common stockholders, diluted	$	(0.18	)	$	(0.14	)	$	0.01		$	(0.06	)
Weighted average shares outstanding:
Weighted average number of shares used in computing net (loss) income per share, basic		75,263			72,999			74,959			72,811
Weighted average number of shares used in computing net (loss) income per share, diluted		75,263			72,999			79,851			72,811

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