Altair Engineeri Stock Price, News & Analysis

Altair (Nasdaq: ALTR), a global leader in computational intelligence, has responded to a statement from Matrix Capital Management. James R. Scapa, Altair's founder, chairman, and CEO, expressed appreciation for Matrix Capital Management's continued strong support and decision to maintain its full position in Altair. Scapa acknowledged that this decision recognizes Altair's long-term strategic value.

The response comes following an announcement made by Matrix Capital Management on August 20, 2024. While the specifics of Matrix's statement are not provided in the press release, it appears to have been significant enough to warrant a public response from Altair's leadership.

Altair (ALTR) and L&T Technology Services (LTTS) have announced the establishment of a digital twin center of excellence (CoE) to accelerate digital transformation. The CoE will deliver cutting-edge digital twin capabilities to joint customers worldwide across mobility, high-tech, and sustainability segments. It will focus on AI-powered engineering, innovation labs, predictive maintenance, and rapid product development.

The partnership aims to help organizations stay ahead of technology trends, maximize investments, and bring better products to market faster. LTTS has extensive experience in digital twin technology and has already utilized Altair's leading total digital twin portfolio for multiple diverse use cases, including motor systems, automotive electrical systems, and data-driven production line performance.

Altair (Nasdaq: ALTR) has announced the winners of the 2024 Altair Enlighten Award, recognizing sustainability and lightweighting advancements in the automotive industry. The award, presented with the Center for Automotive Research (CAR), honors innovations that reduce carbon footprint, mitigate water and energy consumption, and promote material reuse and recycling.

Key winners include:

• DuPont for Sustainable Product
• BMW M GmbH and partners for Sustainable Process
• Syensqo and General Motors for Module Lightweighting
• CompositeEdge GmbH for Enabling Technology
• WEAV3D, Braskem, and Clemson Composites Center for Future of Lightweighting
• Dow Inc. for Responsible AI

The winners showcase innovative technologies such as energy-efficient adhesives, sustainable materials in seat design, lightweight battery structures, and AI-powered polyurethane solutions. The awards ceremony will be held on August 6, 2024, at the CAR Management Briefing Seminars.

Altair (ALTR), a global computational intelligence leader, announced its Q2 2024 financial results on August 1, 2024. The company reported software revenue of $135.4 million, a year-over-year increase of 8.1%, and total revenue of $148.8 million, up 5.4% from Q2 2023. Net loss improved significantly, reducing to $(5.1) million from $(22.3) million in the same period last year. Non-GAAP net income was $14.8 million, a 12.1% increase from Q2 2023. Adjusted EBITDA was $17.3 million, slightly up by 1.7%. Cash provided by operating activities was $28.6 million, and free cash flow was $26.3 million.

For Q3 2024, Altair expects software revenue between $130-$133 million and total revenue between $145-$148 million. Full-year 2024 guidance projects software revenue of $590-$600 million and total revenue of $648-$658 million, with positive growth rates in both reported and constant currencies.

Altair (Nasdaq: ALTR) and LG Electronics Vehicle component Solutions Company have collaborated to develop an integrated fatigue analysis solution using Altair® OptiStruct®. This collaboration has reduced development time for vehicle infotainment components by over 20%. The new solution streamlines the previously complex process of using multiple software tools and models for fatigue damage evaluation.

Key benefits include:

• Enhanced prediction of product safety and durability
• Accelerated advancements in manufacturing industries
• Identification and rectification of potential issues at the design stage
• Improved product durability and performance

OptiStruct, part of the Altair® HyperWorks® platform, offers comprehensive solutions for linear and nonlinear analyses across various disciplines, driving design optimization and structural performance validation globally.

Altair (Nasdaq: ALTR) has announced Luca Sutton of the TUfast Eco Team as the grand prize winner of the 2023-2024 Altair Global Student Contest. Sutton won the $7,500 prize by using Altair Inspire to reduce his team's Shell Eco-marathon vehicle suspension weight by 41%, while maintaining a 1.3x factor of safety.

The contest, equivalent to the professional Altair Enlighten Award, challenges students to lightweight anything while meeting structural integrity, performance, and sustainability targets. This year's competition saw 36 participants from 18 countries win prizes.

Altair's technology and its Global Academic Program were showcased at a celebratory event at the Technical University of Munich on July 24, 2024. The company emphasized how its portfolio benefits both students and industry professionals in innovation and sustainability efforts.

Altair (Nasdaq: ALTR) has signed a memorandum of understanding (MoU) with the University of Nottingham for a groundbreaking aerospace digital twin project. The project aims to develop a fully-fledged solution for rapidly designing, validating, and testing electric propulsion systems in new aircraft or advanced air mobility vehicles. University researchers will have unlimited access to Altair's HyperWorks and RapidMiner platforms, empowering them with AI-powered multiphysics simulation and data analytics tools.

The collaboration supports the university's new Zero Carbon Innovation Centre, enabling the creation of a complete digital twin for electric propulsion systems. This partnership aligns with Altair's commitment to fostering innovation and sustainability in aerospace and transportation sectors.

Altair (Nasdaq: ALTR), a global leader in computational intelligence, has announced its upcoming financial results release for the second quarter of 2024. The company will disclose its financial performance for the quarter ended June 30, 2024, after the market closes on Thursday, August 1, 2024. Following the release, Altair's management team will host a conference call and webcast at 5 p.m. ET on the same day to discuss the Q2 2024 results and provide insights into the company's outlook for Q3 and the full year 2024.

Investors and interested parties can access the live webcast through Altair's investor relations website at http://investor.altair.com. A recorded version of the webcast will also be made available for those unable to attend the live event.

Altair (Nasdaq: ALTR) will showcase its AI-powered engineering solutions at the Farnborough International Airshow 2024, from July 22 to 26. The company will demonstrate innovations in engineering simulation, artificial intelligence, and high-performance computing for the aerospace industry.

Key highlights include:

• Sustainable aviation demos using AI-powered simulation
• Efficient manufacturing and MRO with intelligent digital twins
• Digital superiority solutions for defense
• Aerospace Startup Acceleration Program

Altair's solutions support the entire aerospace lifecycle, from design to maintenance, focusing on improving safety, reducing costs, and extending aircraft lifecycles. The company emphasizes the critical role of computational intelligence in advancing aerospace technology and reducing environmental impact.