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Altair, a global leader in computational intelligence, reported record software revenue and total revenue for the first quarter of 2024, showcasing growth in all major geographies and verticals. The company achieved $158.4 million in software revenue and $172.9 million in total revenue, marking increases from the previous year. Net income saw a significant improvement, reaching $16.5 million compared to a net loss in the same period last year. Altair also provided positive guidance for the second quarter and full year 2024.
Altair, a global leader in computational intelligence, acquired Research in Flight, maker of FlightStream®, a powerful computational fluid dynamics (CFD) software widely used in aerospace, defense, marine, energy, turbomachinery, and automotive industries. FlightStream® enhances aerodynamic analysis with fast computational speeds, low hardware requirements, and unique capabilities like surface vorticity. The acquisition strengthens Altair's portfolio, catering to complex customer demands in aerospace, defense, urban air mobility, and eVTOL sectors.
