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Altair Engineering Inc (ALTR)
NASDAQ:ALTR
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Earnings Data
Report Date
Feb 20, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.51Last Year’s EPS
$0.46Same Quarter Last Year
Based on 7 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 30, 2024
|% Change Since: 0.34%
|Next Earnings Date:Feb 20, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted Altair's strong revenue performance, especially in the software segment, driven by large contracts in aerospace and defense. The company is recognized for its leadership in data science and machine learning, evidenced by its position in the Gartner Magic Quadrant. Despite some foreign exchange impacts on margins, the overall trajectory appears positive with strategic acquisitions and partnerships poised to drive future growth.Company Guidance
During the Q2 2024 earnings call for Altair Engineering, a detailed guidance was provided for the upcoming quarters and full year. For Q3, Altair expects software revenue to be in the range of $130 million to $133 million, marking a year-over-year increase of 9.2% to 11.7% in reported currency. Total revenue for Q3 is forecasted between $145 million and $148 million, reflecting an increase of 8.2% to 10.4% year-over-year. Full-year 2024 projections include software revenue ranging from $590 million to $600 million, translating to a 7.3% to 9.1% increase over 2023, and total revenue between $648 million and $658 million, which is a 5.8% to 7.4% rise. Furthermore, adjusted EBITDA for the full year is expected to be between $136 million to $144 million, accounting for 21.0% to 21.9% of total revenue, with free cash flow anticipated to be in the range of $122 million to $130 million. These projections take into account the impact of foreign exchange rate changes, which have also influenced the margin expectations.Exceeding Revenue Guidance
Altair's total quarterly revenue was $148.8 million, with software revenue accounting for $135.4 million, both surpassing the high end of their guidance for the quarter.
Strong Software Revenue Growth
Software revenue grew 10.6% year-over-year in constant currency, and software revenue as a percentage of total revenue increased to 91% from 88.8% in the same quarter last year.
Record-Breaking Aerospace and Defense Contracts
Altair signed an 8-figure, 3-year contract with a multinational aerospace company, their largest deal ever, and a 7-figure agreement with a European aerospace, defense, and security company, marking a 49% year-on-year expansion.
Recognition in Data Science and Machine Learning
Altair was named a leader in the Gartner Magic Quadrant for data science and machine learning platforms for their Altair RapidMiner offering.
Strategic Acquisitions and Partnerships
Acquired Metrics Design Automation to enhance semiconductor simulation capabilities and partnered with Hewlett Packard to enrich the Altair Material Data Center.
Expanding Indirect Sales Channel
Added three new channel partners to extend the reach of Altair's data analytics and AI solutions across new regions.
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ALTR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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ALTR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 30, 2024 | $108.63 | $103.99 | -4.27% |
| Aug 01, 2024 | $85.32 | $82.79 | -2.97% |
| May 02, 2024 | $81.75 | $81.47 | -0.34% |
| Feb 22, 2024 | $89.86 | $85.52 | -4.83% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Altair Engineering Inc (ALTR) report earnings?
Altair Engineering Inc (ALTR) is schdueled to report earning on Feb 20, 2025, TBA Not Confirmed.
What is Altair Engineering Inc (ALTR) earnings time?
Altair Engineering Inc (ALTR) earnings time is at Feb 20, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is ALTR EPS forecast?
ALTR EPS forecast for the fiscal quarter 2024 (Q4) is $0.51.
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