Welcome to our dedicated page for Altair Engineeri news (Ticker: ALTR), a resource for investors and traders seeking the latest updates and insights on Altair Engineeri stock.
Altair (Nasdaq: ALTR) is a global computational intelligence company whose news flow centers on simulation, high-performance computing (HPC), data analytics, and artificial intelligence (AI). The Altair news page on Stock Titan aggregates company press releases and third-party coverage so investors can follow how its software and cloud platforms are evolving and where they are being applied.
Recent Altair news highlights integrations between the Altair One cloud innovation gateway and technologies such as the NVIDIA Omniverse Blueprint for Real-Time Digital Twins, showcasing how users can visualize and interact with complex simulations and digital twins in shared virtual environments. Other announcements focus on enhancements to Altair HyperWorks, which supports a zero-prototype approach to product development, and Altair HPCWorks, the company’s HPC and cloud platform with expanded cloud scaling and AI-enabled job scheduling.
Altair news also covers sector-specific collaborations and programs. Examples include aerospace partnerships through the Altair Aerospace Startup Acceleration Program, membership in the Piedmont Aerospace Cluster, a memorandum of understanding with Cranfield University to advance simulation and AI in aerospace and robotics, and a 5G-6G Wireless Center of Excellence launched with L&T Technology Services. Financial releases, such as quarterly and full-year results, provide updates on software and total revenue, profitability metrics, and commentary on a pending acquisition by Siemens Industry Software Inc.
By monitoring ALTR news, readers can track product releases, technology integrations, industry partnerships, financial disclosures, and strategic transactions that may influence Altair’s role in simulation, HPC, data analytics, and AI. This page is a useful reference for anyone researching how Altair’s platforms are being adopted across industries and how the company is positioning itself within the broader software and information sector.
Altair (Nasdaq: ALTR) announced the resolution of a long-standing legal dispute with SAS Institute, having paid a 2019 judgment concerning World Programming (WPL). With the court lifting the licensing injunction, Altair can now offer WPL solutions worldwide, allowing clients to integrate modern coding languages like Python and R with SAS. This integration positions Altair as a unique provider with a hybrid approach, enabling customers to utilize existing SAS investments without reprogramming. Key products include Altair SLC, SmartWorks Hub, and Analytics Workbench, all aimed at enhancing data analytics capabilities.
Altair Engineering Inc. (Nasdaq: ALTR) has successfully closed a private offering of convertible senior notes totaling $230 million. The offering consisted of $200 million of 1.750% notes due 2027, with an additional $30 million sold following the exercise of a purchase option by the initial purchaser. The closure of this offering is significant as it strengthens Altair's financial position and supports its ongoing investments in computational science and artificial intelligence.
Toggled, a subsidiary of Altair (Nasdaq: ALTR), has launched the Toggled iQ Fixture Controller, enhancing control over individual lighting fixtures while promoting energy savings. This innovation allows businesses to achieve better lighting experiences and meet sustainability targets. The Fixture Controller will be showcased at LightFair 2022 in Las Vegas from June 19-23. Key benefits include dimming control, integrated installation options, and multiple control methods like daylight harvesting. Toggled emphasizes the importance of smart building solutions for energy efficiency and cost reduction.
Altair (Nasdaq: ALTR) has acquired Concept Engineering, a leader in electronic system visualization software. This acquisition aims to enhance Altair's capabilities in developing complex electrical systems, allowing improved design and service processes. Concept Engineering's tools, including automatic schematic generation and debug solutions, will integrate into Altair's Electronic System Design suite, benefiting industries such as automotive and aerospace. The deal is expected to streamline engineering processes, saving time and improving product quality for Altair's customers.
Altair (Nasdaq: ALTR) announced the pricing of a $200 million offering of Convertible Senior Notes due 2027. The notes, which bear an interest rate of 1.750% annually, are expected to settle on June 14, 2022. Altair aims to use about $192.4 million of the proceeds to repurchase its 0.250% Convertible Senior Notes due 2024, with the rest allocated for working capital and potential acquisitions. Importantly, the conversion price is set at approximately $71.68 per share, reflecting a 30% premium over the stock's last reported price of $55.14.
Altair (Nasdaq: ALTR) announced its intention to offer $200 million of Convertible Senior Notes due 2027 in a private offering aimed at qualified institutional buyers. The offering may include an additional $30 million in notes. The proceeds will primarily finance the repurchase of existing 2024 notes and support working capital and potential acquisitions. The notes are senior, unsecured obligations with semi-annual interest payments; conversion options include cash or shares of Class A Common Stock. Altair cautions that actual results may vary from forward-looking statements.
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Altair (Nasdaq: ALTR) has acquired Gen3D, a UK-based startup known for its innovative implicit geometry technology used in additive manufacturing. This acquisition enhances Altair's capabilities in designing complex geometries and improving manufacturing processes. Gen3D’s generative design tools allow engineers to create intricate designs while minimizing potential manufacturing issues, benefiting various industries such as aerospace and automotive. The integration of Gen3D's technology into Altair Inspire is expected to streamline product development and optimize performance.
Altair (Nasdaq: ALTR) announced that CEO James Scapa and CFO Matt Brown will participate in two upcoming investor conferences. The Nasdaq Investor Conference is set for June 14, 2022, at 3:30 a.m. ET, featuring a presentation format. Following that, they will partake in the Berenberg Thematic Software Conference 2022 on June 15, 2022, at 8:00 a.m. ET, which will take the form of a fireside chat. A live webcast and replay will be available on their investor relations website.
Altair is a leader in computational science and AI, providing innovative solutions for various industries.
Altair (Nasdaq: ALTR) reported strong financial results for Q1 2022, achieving record revenues. Software product revenue reached $140.9 million, a 8.8% increase from Q1 2021. Total revenue surged to $159.8 million, up 6.4%. However, net income fell to $11.5 million from $14.4 million year-over-year. Adjusted EBITDA increased by 26.1% to $46.6 million, with an adjusted EBITDA margin of 29.2%. Guidance for Q2 and full-year 2022 indicates a net loss forecast. Despite high revenue growth, investors should note the decline in net income and lower free cash flow.
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