Altair Announces First Quarter 2022 Financial Results

CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)

   Three Months Ended
March 31,
 
(in thousands, except per share data)  2022   2021 
Revenue        
License $106,169  $96,395 
Maintenance and other services  34,728   33,146 
Total software  140,897   129,541 
Software related services  9,061   8,098 
Total software and related services  149,958   137,639 
Client engineering services  8,012   10,677 
Other  1,811   1,847 
Total revenue  159,781   150,163 
Cost of revenue        
License  4,687   5,395 
Maintenance and other services  12,719   11,555 
Total software *     17,406       16,950  
Software related services     6,035       6,122  
Total software and related services     23,441       23,072  
Client engineering services     6,641       8,888  
Other     1,521       1,462  
Total cost of revenue     31,603       33,422  
Gross profit     128,178       116,741  
Operating expenses:                
Research and development *     43,094       38,276  
Sales and marketing *     35,682       32,070  
General and administrative *     23,569       23,926  
Amortization of intangible assets     5,903       4,877  
Other operating income, net     (781 )     (617 )
Total operating expenses     107,467       98,532  
Operating income     20,711       18,209  
Interest expense     585       2,973  
Other expense, net     2,068       835  
Income before income taxes     18,058       14,401  
Income tax expense     6,530       41  
Net income   $ 11,528     $ 14,360  
Income per share:                
Net income per share attributable to common
stockholders, basic
  $ 0.15     $ 0.19  
Net income per share attributable to common
stockholders, diluted
  $ 0.13     $ 0.18  
Weighted average shares outstanding:                
Weighted average number of shares used in computing
net income per share, basic
    79,462       74,651  
Weighted average number of shares used in computing
net income per share, diluted
    87,261       79,295  

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