Altair Announces Fourth Quarter and Full Year 2023 Financial Results


Financial Results

The following table provides a reconciliation of Non-GAAP net income and Non-GAAP net income per share – diluted, to net income (loss) and net income (loss) per share – diluted, the most comparable GAAP financial measures:

 (Unaudited) 
  Three Months Ended
December 31,
   Year Ended
December 31,
 
(in thousands, except per share amounts) 2023   2022   2023   2022 
Net income (loss)$19,675  $12,065  $(8,926) $(43,429)
Stock-based compensation expense 19,158   22,263   85,581   84,787 
Amortization of intangible assets 7,708   8,828   30,851   27,510 
Non-cash interest expense 470   467   1,869   1,806 
Impact of non-GAAP tax rate(1) (4,261)  (9,468)  (13,158)  (11,346)
Special adjustments and other(2) (1,659)  (6,614)  2,553   16,272 
Non-GAAP net income$41,091    $ 27,541     $ 98,770     $ 75,600  
                       
Net income (loss) per share, diluted $ 0.22     $ 0.14     $ (0.11 )   $ (0.55 )
Non-GAAP net income per share, diluted $ 0.46     $ 0.31     $ 1.13     $ 0.89  
                       
GAAP diluted shares outstanding:   88,977       87,498       80,596       79,472  
Non-GAAP diluted shares outstanding:   88,977       87,498       87,642       85,392  

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