Altair Announces Third Quarter 2023 Financial Results


The following table provides revenue, Billings and Adjusted EBITDA on a constant currency basis:

 (Unaudited) 
  Three Months Ended
September 30, 2023
   Three Months Ended September 30, 2022   Increase/
(Decrease) %
 
(in thousands) As reported   Currency changes   As adjusted for constant currency   As reported   As reported   As adjusted for constant currency 
Software revenue$119.1  $(0.3) $118.8  $103.8   14.8%  14.5%
Total revenue$134.0  $(0.4) $133.6  $119.4   12.3%  11.9%
Billings$124.4  $(1.3) $123.1  $122.9   1.2%  0.1%
Adjusted EBITDA$15.5  $1.0  $16.5  $6.8    126.3 %     142.1 %
                                   
                                   
  (Unaudited)  
  Nine Months Ended
September 30, 2023
    Nine Months Ended September 30, 2022     Increase/
(Decrease) %
 
(in thousands) As reported     Currency changes     As adjusted for constant currency     As reported     As reported     As adjusted for constant currency  
Software revenue $ 394.0     $ 7.7     $ 401.7     $ 361.6       9.0 %     11.1 %
Total revenue $ 441.2     $ 8.0     $ 449.2     $ 411.8       7.1 %     9.1 %
Billings $ 435.7     $ 6.5     $ 442.2     $ 419.7       3.8 %     5.4 %
Adjusted EBITDA $ 75.6     $ 4.9     $ 80.5     $ 69.9       8.2 %     15.2 %

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