Altair Announces First Quarter 2019 Financial Results

Altair Engineering Inc. and Subsidiaries
Consolidated Statements of Operations
(Unaudited)

	Three Months Ended March 31,
(in thousands, except per share data)		2019			2018
Revenue
License	$	76,621		$	66,935
Maintenance and other services		26,670			22,734
Total software		103,291			89,669
Software related services		9,772			9,473
Total software and related services		113,063			99,142
Client engineering services		12,050			12,080
Other		2,746			2,035
Total revenue		127,859			113,257
Cost of revenue
License *		5,821			3,730
Maintenance and other services *		8,531			7,192
Total software		14,352			10,922
Software related services		6,518			6,709
Total software and related services		20,870			17,631
Client engineering services		9,800			10,200
Other		2,215			1,211
Total cost of revenue		32,885			29,042
Gross profit		94,974			84,215
Operating expenses:
Research and development*		27,516			22,703
Sales and marketing*		26,451			18,627
General and administrative*		20,329			16,990
Amortization of intangible assets		3,528			1,940
Other operating income		(617	)		(2,191	)
Total operating expenses		77,207			58,069
Operating income		17,767			26,146
Interest expense		270			16
Other expense (income), net		390			(900	)
Income before income taxes		17,107			27,030
Income tax expense		4,088			2,346
Net income	$	13,019		$	24,684
Income per share:
Net income per share attributable to common stockholders, basic	$	0.18		$	0.39
Net income per share attributable to common stockholders, diluted	$	0.17		$	0.34
Weighted average shares outstanding:
Weighted average number of shares used in computing net income per share, basic		70,786			63,638
Weighted average number of shares used in computing net income per share, diluted		76,720			72,390

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