Altair Engineeri Stock Price, News & Analysis

Altair (Nasdaq: ALTR) announced the participation of James Scapa (CEO) and Matt Brown (CFO) in virtual fireside chats at two upcoming investor conferences. The events include the J.P. Morgan 49th Annual Global Technology, Media and Communications Conference on May 24, 2021, at 11 a.m. ET, and the William Blair Growth Stock Conference on June 2, 2021, at 10:20 a.m. ET. A live webcast and replay will be available on the company's investor relations website.

Altair specializes in simulation, high-performance computing, and artificial intelligence solutions, helping organizations in a connected world.

Altair (Nasdaq: ALTR) announced the general availability of Altair One, a cloud-integrated platform enhancing collaboration and accelerating project timelines. This platform unifies simulation, high-performance computing (HPC), and AI capabilities, enabling multidisciplinary teams to efficiently manage complex projects without in-house HPC infrastructure. Key features include scalable cloud resources, seamless workload migration, and AI-enabled analytics. Altair One promotes data-driven development, allowing users to easily provision resources across major cloud providers, significantly improving productivity and resource utilization.

Altair (Nasdaq: ALTR) announced robust financial results for Q1 2021, achieving record software revenue of $129.5 million, up 19.5% year-over-year. Total revenue reached $150.2 million, a 14.2% increase. Net income surged 138% to $14.4 million, with diluted EPS rising to $0.18. Adjusted EBITDA improved 70.5% to $37.0 million, reflecting a margin of 24.6%. The company affirms strong future growth, providing Q2 guidance for software product revenue between $92.0 to $95.0 million.

Altair (Nasdaq: ALTR) has entered a technical partnership with the Aston Martin Cognizant Formula One™ Team to enhance their high-performance computing (HPC) capabilities. The Aston Martin team will utilize Altair Grid Engine™ to manage intensive workloads, optimizing their compute infrastructure. This partnership enables a 97 percent utilization rate of HPC resources and processes 10 terabytes of data daily. The collaboration aims to improve design efficiency in Formula One, allowing for rapid and informed decision-making during races.

Altair (Nasdaq: ALTR) has announced an Investor Day scheduled for May 27, 2021, from 10 a.m. to 12:30 p.m. ET. The event will focus on the convergence of simulation, high-performance computing (HPC), and artificial intelligence (AI). Key presentations will be delivered by prominent executives, including CEO James R. Scapa and CFO Matt Brown. Attendees can access a live video webcast as well as a recorded version post-event on the company's website.

For more details, visit investor.altair.com.

Altair (ALTR) will announce its Q1 2021 financial results on May 6, 2021, after market close. A conference call is scheduled for 5:00 p.m. ET, where management will discuss the results and provide insights into Q2 and full-year 2021 guidance. Investors can access a recorded version of the call post-event. The announcement highlights Altair's ongoing commitment to transparency in its financial performance and strategy in simulation, HPC, and AI solutions.

Altair (Nasdaq: ALTR) announces its Global HPC Summit on May 11-12, 2021, focusing on innovations in high-performance computing (HPC), simulation, and artificial intelligence. The virtual event will feature industry leaders such as Intel, NVIDIA, and Google, exploring advanced workload management and various HPC dimensions. Altair emphasizes recent advancements in HPC solutions, predicting increased demand as businesses adapt to new operational norms.

Altair (Nasdaq: ALTR) has announced the successful transition of its Chief Financial Officer, with Matthew Brown succeeding Howard Morof. Brown joined Altair in January 2021 and takes over during a strategic period for the company. Additionally, Brian Gayle, a senior vice president with over five years at Altair, will succeed Morof as the Principal Accounting Officer. This leadership change underscores Altair's commitment to strong financial management as it continues to provide innovative software and cloud solutions across various industries.

Altair (Nasdaq: ALTR) is collaborating with Italy's Gruppo Cimbali to integrate digital twin technology into their coffee machine development. This partnership enhances product performance through a blend of data-driven and physics-based modeling, resulting in reduced physical testing, quicker market delivery, and improved energy efficiency. Gruppo Cimbali's commitment to innovation is emphasized, as they leverage Altair's tools to embrace digital transformation, leading to smarter, more connected coffee machines. This initiative signifies a key advancement in the coffee industry.