Altair Engineeri Stock Price, News & Analysis

Altair (Nasdaq: ALTR) reported strong financial results for Q2 2021, achieving a 21.7% increase in total revenue, totaling $119.9 million, compared to $98.6 million in Q2 2020. Software product revenue also rose to $99.6 million from $81.8 million, reflecting a similar growth rate. However, the net loss widened to $13.6 million from $10.2 million year-over-year. Adjusted EBITDA increased significantly by 65.2% to $9.5 million, while non-GAAP net income surged 86.8% to $5.6 million. Altair has raised its full-year guidance amid strong customer demand.

Altair, a leader in simulation and AI, announced the winners of the 9th annual Enlighten Award, recognizing sustainable engineering in the automotive industry. Highlighting innovations aimed at reducing CO2 emissions and promoting material recycling, the award emphasizes lightweighting technologies. Notable winners include Ford's all-electric Mustang Mach-E and Faurecia's recyclable polypropylene compound. The awards ceremony took place on August 4, 2021, furthering Altair's mission to support automotive sustainability initiatives.

Altair (Nasdaq: ALTR) will release its financial results for Q2 2021 on August 5, 2021, after market close. Management will hold a conference call at 5:00 p.m. ET to discuss results and provide an outlook for Q3 and the full year. The call can be accessed via live audio webcast at investor.altair.com. A recorded version will be available post-call. This event marks a significant opportunity for investors to gauge the company’s performance in simulation, high-performance computing, and AI sectors.

Altair (Nasdaq: ALTR) announced the appointment of Shekar Ayyar to its board of directors, filling the vacancy left by Richard Hart's resignation. Ayyar, with over 25 years of experience in consulting and technology, previously held leadership roles at VMware and other tech firms. His expertise in scaling technology businesses is expected to contribute positively to Altair's growth strategy. Ayyar expressed enthusiasm for joining the board, citing Altair's innovative capabilities in simulation, HPC, and AI as key drivers for future success.

Altair (Nasdaq: ALTR) announced the launch of Altair SmartWorks, a next-generation cloud-native platform aimed at enhancing data-driven decision-making through AI and IoT. SmartWorks unifies analytics, is customizable, and offers a low-code environment enabling collaboration across teams. Key features include end-to-end data analytics, AI model training, and operationalizing machine learning at scale. The platform is designed for enterprise-grade challenges and provides flexibility in deployment. Its subscription-based model optimizes costs for users, addressing diverse business needs.

On June 2, 2021, Altair (Nasdaq: ALTR) elected Jim F. Anderson to its board of directors during the annual stockholder meeting. Anderson brings over 25 years of IT experience, currently serving as a managing director at Google Cloud and has previously held executive roles at major companies like Hewlett Packard and Cisco Systems. His expertise in scaling enterprise-level businesses is expected to enhance Altair’s strategic direction in simulation, high-performance computing, and AI. Anderson expressed excitement about contributing to Altair's growth.

Altair (Nasdaq: ALTR), a leading global technology firm focusing on simulation, high-performance computing (HPC), and artificial intelligence (AI), announced that CEO James Scapa and CFO Matt Brown will participate in a virtual fireside chat at the Berenberg 2021 Design Software Conference on June 15, 2021. The session is scheduled for 10 a.m. EDT / 3 p.m. BST. A live webcast and a replay will be available on Altair’s investor relations website.

Altair (Nasdaq: ALTR) announced on May 26, 2021, the release of advanced simulation solutions, including comprehensive computational fluid dynamics (CFD) and enhanced electronic system design (ESD) capabilities. Key updates comprise a single license for all major CFD tools, improved thermal management workflows, and zero-download simulation in the cloud via Altair One. The new offerings aim to streamline product development and enhance collaboration among engineering teams. Altair's cloud services ensure scalability and flexibility, supporting a range of applications across major cloud providers.

Altair (Nasdaq: ALTR) will host the Future.AI event from June 15-17, 2021, focusing on advancements in analytics and AI across various industries. The event aims to inspire leaders in manufacturing, banking, healthcare, and more by showcasing how data analytics can drive business success. Keynote speakers include experts from NVIDIA, Intel, and Google, with discussions on digital transformation strategies. Attendees will learn from industry leaders about operationalizing AI to enhance competitiveness.