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Altair Engineering Inc. - ALTR STOCK NEWS

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Altair Engineering Inc. (NASDAQ: ALTR) is a global leader in computational intelligence, providing enterprise-class engineering software that spans the entire product lifecycle from conceptual design to in-service operation. With over 30 years of experience, Altair specializes in simulation, high-performance computing (HPC), data analytics, and artificial intelligence (AI), offering solutions that optimize design performance across multiple disciplines such as structures, motion, fluids, thermal management, system modeling, and embedded systems.

Headquartered in Troy, Michigan, Altair employs more than 2,500 people across 45 offices in 24 countries, ensuring a global presence in North America, South America, Europe, and Asia Pacific. The company’s client base includes over 5,000 corporations spanning various industries such as automotive, aerospace, government and defense, and consumer products. Altair is also expanding its reach in life sciences, financial services, and energy markets.

Altair operates through two primary segments: Software and Client Engineering Services. The Software segment includes a robust portfolio of products ranging from solvers and optimization technologies to modeling and visualization tools. The Client Engineering Services segment provides specialized engineering expertise to support customer projects.

Financially, Altair has shown strong performance, marked by record-high revenues and profits. For the fourth quarter of 2023, the company reported $155.9 million in software revenue, reflecting a 7.6% increase compared to the same period in 2022. Total revenue for the quarter was $171.5 million, with a net income of $19.7 million. For the full year of 2023, Altair achieved $612.7 million in total revenue, marking a 7.1% increase from the previous year.

Recent achievements include the launch of Altair SimSolid for electronics, a groundbreaking tool in multi-physics simulation for PCBs and ICs. Additionally, Altair acquired Cambridge Semantics to enhance its data analytics and AI offerings, and Research in Flight to bolster its computational fluid dynamics capabilities. Altair continues to be a thought leader, as evidenced by its planned participation in Hannover Messe 2024, where it will showcase its AI-powered engineering solutions.

Altair’s commitment to global information security was solidified with the ISO/IEC 27001:2022 certification, demonstrating its adherence to international standards. The company is also organizing the ATCx AI for Engineers 2024 global virtual event, aimed at exploring AI's transformative potential in product development.

Altair’s forward-looking strategies and investments in cutting-edge technologies ensure that it remains at the forefront of computational intelligence, providing unparalleled value to its diverse client base.

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Altair (Nasdaq: ALTR) announced the release of Altair® HyperWorks® 2024, an advanced platform for AI-powered design and simulation. The new version enhances capabilities across product life cycles with improved AI integration, photorealistic graphics, and a unified data system.

Notable features include generative design in Altair® HyperMesh®, efficient thermal analysis with Altair® SimLab®, and single-click AI model training via Altair Drive. It supports Python and C++ for better integration and customization, providing interoperability with over 250 CAD systems.

Altair® Twin Activate® and Altair® Material Data Center™ enrich the digital engineering ecosystem, enhancing model accuracy and material dataset accessibility. The platform also strengthens mechanical and electronic system design, streamlining workflows and boosting productivity, positioning Altair HyperWorks 2024 as a leader in simulation-driven innovation.

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Altair (Nasdaq: ALTR) has been chosen as an electronic design automation (EDA) partner for the Samsung Advanced Foundry Ecosystem (SAFE™). This collaboration aims to integrate Altair's comprehensive EDA technology with Samsung Foundry's manufacturing capabilities, enhancing semiconductor design and production efficiency. Altair will provide various design and verification solutions, including chip design, analog circuit verification, production process simulation, and rapid debugging technology. Their FlowTracer™ visualization platform and integrated solutions like high-performance computing resource management, AI-based meta-scheduling, and data analytics will support market responsiveness and product development competitiveness.

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Altair (Nasdaq: ALTR), a leader in computational intelligence, has announced a definitive agreement to acquire Metrics Design Automation Inc., a Canadian company specializing in semiconductor electronic functional simulation and design verification. Metrics' flagship product, DSim, offers a simulation as a service (SaaS) model that enhances accessibility and affordability in the IC design verification process. The acquisition aims to combine DSim with Altair's Silicon Debug Tools to create a superior simulation environment. This new solution will be available through Altair One and supports running simulations on desktops, servers, or the cloud.

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Altair (Nasdaq: ALTR) has announced a collaboration with HP to integrate HP's proprietary material data into the Altair Material Data Center. This partnership aims to enhance the design and production of 3D-printed parts, particularly for Multi Jet Fusion and Metal Jet printers.

By bridging the gap between design and production, the collaboration will allow engineers to access accurate material property data, improving design efficiency and reducing prototyping time. Additionally, users of Altair Inspire Print3D will benefit from this integration, enabling faster and more accurate design and simulation of additively manufactured parts.

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Altair (Nasdaq: ALTR) has been recognized as a Leader in the June 2024 Gartner Magic Quadrant for Data Science and Machine Learning Platforms.

This recognition reflects Altair's completeness of vision and ability to execute, particularly for its Altair RapidMiner offering. Gartner highlights that Leaders in this market have a refined strategy leveraging generative AI (GenAI), ensuring high customer business value.

This prestigious placement validates Altair's strong market position and innovative capabilities in data analytics and machine learning.

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Altair (Nasdaq: ALTR), a leader in computational intelligence, has been added to the S&P MidCap 400, effective June 24, 2024. This inclusion marks a significant milestone for Altair, demonstrating its steady growth and leadership in simulation and design, data analytics, AI, and high-performance computing. The S&P MidCap 400 index benchmarks mid-sized companies, highlighting their unique risk and return profiles. CEO James R. Scapa regards this achievement as a testament to Altair's strong market position.

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Altair (Nasdaq: ALTR), a leader in computational intelligence, announced the availability of Altair One® on Google Cloud Marketplace. This integration allows users to access advanced simulation, data analytics, and high-performance computing (HPC) capabilities seamlessly. Altair One aims to enhance collaborative engineering and analytical application development. It provides unified access to tools and resources, leveraging AI to optimize product development processes. Google Cloud users can now utilize Altair's Bring Your Own Cloud (BYOC) functionality to run applications efficiently. This collaboration is expected to boost engineering innovations by utilizing Google's scalable cloud infrastructure.

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Altair (Nasdaq: ALTR), a global leader in computational intelligence, is the official computational science and AI partner for the NYYC American Magic team in the 37th America's Cup. Altair's technology, including computational fluid dynamics, structural analysis, data analytics, and high-performance computing, significantly improved the yacht design and testing process. The collaboration led to the creation of an advanced "AC75" yacht. The 37th America's Cup begins on August 22, 2024, in Barcelona. Altair's technology was important in expediting the design process, allowing the team to iterate and innovate rapidly, aiming to win the cup in October.

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Altair (Nasdaq: ALTR) announces the ATCx AI for Engineers 2024 global virtual event on June 20. This event will gather engineers from design, simulation, and manufacturing to explore AI's transformative potential in product development. Key speakers include professionals from Forrester, Deloitte, Lotus, McKinsey, Renesas Electronics, CNH Industrial, Hero MotoCorp, Daikin, Mabe, and Alcom. A highlight will be the exclusive reveal of Altair's '100 Use Cases for AI-Powered Engineering,' offering practical insights for engineers. Additionally, Sean Martin from Altair will present on integrating data with knowledge graphs. The event will be accessible worldwide with live translations in multiple languages.

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Altair (Nasdaq: ALTR), a leader in computational intelligence, announced that its Chief Financial Officer, Matt Brown, will participate in fireside chats at three upcoming investor conferences. These conferences include the William Blair Growth Stock Conference on June 5, 2024, in Chicago, IL at 12:40 p.m. CT, the Baird Global Consumer, Technology & Services Conference on June 6, 2024, in New York, NY at 11:25 a.m. ET, and the NASDAQ London Investor Conference in partnership with Jefferies on June 11, 2024, in London, ENG at 2:00 p.m. BST. A live webcast and replay of these presentations will be available on the company’s investor relations website.

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FAQ

What does Altair Engineering Inc. specialize in?

Altair Engineering Inc. specializes in computational intelligence, providing enterprise-class engineering software for simulation, high-performance computing, data analytics, and artificial intelligence.

How many employees does Altair have?

Altair employs more than 2,500 people across 45 offices in 24 countries.

In which industries does Altair have a significant presence?

Altair has a significant presence in industries such as automotive, aerospace, government and defense, consumer products, life sciences, financial services, and energy markets.

What are Altair's main business segments?

Altair operates through two main segments: Software and Client Engineering Services.

What recent acquisitions has Altair made?

Recent acquisitions include Cambridge Semantics, enhancing data analytics and AI offerings, and Research in Flight, bolstering computational fluid dynamics capabilities.

What financial performance did Altair report for the full year of 2023?

For the full year of 2023, Altair reported total revenue of $612.7 million, marking a 7.1% increase from the previous year.

What is Altair SimSolid for electronics?

Altair SimSolid for electronics is a tool for multi-physics simulation, designed to enhance the simulation of PCBs and ICs without the need for geometry simplification or meshing.

What certification did Altair recently achieve for information security?

Altair achieved the ISO/IEC 27001:2022 certification, demonstrating its commitment to global information security standards.

What is the ATCx AI for Engineers 2024 event?

The ATCx AI for Engineers 2024 is a global virtual event organized by Altair to explore the transformative potential of AI in design, simulation, and manufacturing.

Where can I find more information about Altair's financial results and upcoming events?

More information can be found on Altair's investor relations website at http://investor.altair.com.

Altair Engineering Inc.

Nasdaq:ALTR

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2.65%
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4.11%
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