Q2 2024 Altair Engineering Inc Earnings Call Transcript
Key Points
- Altair Engineering Inc (ALTR) reported total quarterly revenue of $148.8 million, surpassing the high end of their guidance.
- Software revenue accounted for $135.4 million, representing 91% of total revenue, up from 88.8% in the same quarter last year.
- The company unveiled significant product enhancements with the release of Altair HyperWorks 2024, which includes advancements in artificial intelligence.
- Altair was named a leader in the Gartner Magic Quadrant for data science and machine learning platforms, validating their comprehensive offerings.
- The acquisition of Metrix Design Automation is expected to transform the semiconductor space with a cloud-based simulation service, making high-caliber EDA design tools more accessible and affordable.
- Despite strong performance, Altair Engineering Inc (ALTR) faces risks and uncertainties that could cause actual results to differ materially from expectations.
- The company’s reported results may be impacted by changes in foreign exchange rates, which could affect revenue and expenses.
- Non-GAAP operating expenses increased to $105.3 million from $96.9 million in the prior year, reflecting planned investments in product development and sales capacity.
- Adjusted EBITDA margin slightly decreased to 11.7% from 12.1% in the prior year, indicating higher operational costs.
- The company’s guidance for full-year 2024 adjusted EBITDA has been impacted by changes in foreign currency exchange rates, leading to a revised outlook.
Good day, and thank you for standing by, and welcome to the Altair Engineering Inc. Q2 2024 earnings conference call. At this time, all participants are in a listen-only mode. And after the speakers' presentation, there will be a question and answer session. Last question. During the session you will need to press star one one on your telephone. You will then hear an automated message advising your hands right. To withdraw your question, please press star one one. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, STEPHEN full-time Investor Relations.
Please go.
Good afternoon. Welcome, and thank you for attending Healthcare's earnings Conference Call for the Second Quarter 2020 for ended June 30th. I am Steven Comtech, Altiris, Head of Investor Relations. And with me on the call are Jim Scapa, Founder, Chairman and CEO, and Matt Brown, Chief Financial Officer. After market close today, we issued a press release with details regarding our second quarter 2024 performance and guidance for the third quarter and
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