Altair Engineeri Stock Price, News & Analysis

On April 25, 2023, Altair (Nasdaq: ALTR) launched Altair SimSolid Cloud, a cloud-native structural simulation software that allows users to perform structural analysis directly from their web browser. This innovative tool eliminates the need for complex geometry simplification and meshing, enabling results in seconds to minutes. Key features include mesh-free technology, comprehensive physics support, and an extensive material library, catering to design engineers and analysts across various industries like industrial machinery, construction, and consumer products. Available through Altair One, it offers flexible subscription options, making advanced engineering tools accessible without heavy investments in hardware.

Altair (Nasdaq: ALTR) will announce its Q1 2023 financial results on May 4, 2023, after market close. A conference call is scheduled for 5 p.m. ET the same day, where management will discuss the results and provide an outlook for Q2 and full-year 2023. Investors can access a recorded version of the webcast on the investor relations page.

As a leader in computational science and AI, Altair continues to focus on delivering software and cloud solutions to enhance organizational efficiency across industries. The company aims to support sustainable practices while driving smarter decision-making.

Altair (Nasdaq: ALTR) has launched the Future Says podcast, accessible on major platforms like Spotify, Apple Podcasts, and Google Podcasts. This podcast features experts discussing the intersection of artificial intelligence, high-performance computing, and data analytics. Season one episodes are available, with subsequent seasons releasing weekly, including a focus on the automotive industry. Guests hail from top organizations including Google and Johnson & Johnson, addressing the d digital transformation influencing modern living and working. For updates, audiences can visit the Future Says webpage and Altair's YouTube channel.

Altair (Nasdaq: ALTR) has launched a Global Student Contest running from May 2023 to April 2024. This contest invites students to demonstrate their engineering skills using topology optimization to achieve lightweight designs while maintaining structural integrity. Participants can utilize Altair software, including Altair Inspire, to optimize their projects.

Monthly winners will be announced for each global region, with awards including $750 for the top design and $7,500 for the grand prize winner at the end of the contest. Additionally, categories such as creative presentation and wildcard entries will foster innovation. The contest aims to promote engineering talent and enhance students' skills.

Altair (Nasdaq: ALTR) announced a significant legal victory as the U.S. Court of Appeals for the Federal Circuit affirmed the dismissal of SAS Institute's copyright infringement lawsuit against its subsidiary, World Programming (WPL). This ruling confirms that the SAS language is not proprietary, allowing other companies to develop compilers and environments that support it. Following the acquisition of World Programming in 2021, Altair has introduced the Altair SLC, an alternative environment that runs SAS language code without third-party dependencies. The SLC also supports Python and R, aiming to reduce costs and increase efficiency for users. This legal decision reinforces Altair's commitment to open architecture technology, enabling businesses to modernize their systems and leverage their investments in SAS.

Altair (Nasdaq: ALTR) has launched the Altair #OnlyForward Scholarship at Columbia University's School of Engineering to support 10 undergraduate students pursuing STEM-related degrees. Each recipient will receive $25,000 annually for up to four years, totaling $1 million. This initiative is aimed at students from minority communities, particularly those demonstrating leadership in support of African American and Latino groups, as well as those who are socioeconomically disadvantaged. The first cohort of scholarship recipients will be announced in fall 2023. Altair's CEO, James R. Scapa, emphasized the company's commitment to diversity as crucial to its success.

Altair (Nasdaq: ALTR) has rebranded its entire data analytics and AI suite as Altair RapidMiner, unifying various technologies into one comprehensive platform. This follows the acquisitions of RapidMiner and World Programming. The new platform provides end-to-end solutions, enabling organizations to modernize their data frameworks and operationalize AI initiatives. Key features include the ability to scale AI without a large team, ease of data extraction, modernization of legacy systems, and rapid model production. Additionally, Altair's Units licensing model aims to democratize access to these tools.

Altair (Nasdaq: ALTR) reported record-high revenue for 2022, achieving $572.2 million in total revenue, up 7.5% year-over-year. Software product revenue increased 11.6% to $506.5 million. The fourth quarter alone saw total revenue of $160.4 million, a 13.9% rise from Q4 2021. Net income for 2022 was $(43.4 million), compared to $(8.8 million) in 2021. Non-GAAP net income improved 31.2% to $75.6 million. For Q1 2023, Altair expects software product revenue between $139.0 million and $142.0 million, indicating a slight decline. EBITDA margin is targeted at 20% by the end of 2023.