| Altair Engineering Inc. and Subsidiaries | ||||||||||
| Consolidated Statements of Operations | ||||||||||
| (Unaudited) | ||||||||||
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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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Altair Announces First Quarter 2019 Financial Results
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