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Altair Engineering (ALTR)

Altair is a global technology company that provides software and cloud solutions in the areas of simulation, high-performance computing (HPC), and artificial intelligence (AI). Altair enables organizations across broad industry segments to compete more effectively in a connected world while creating a more sustainable future.

Company profile

Ticker
ALTR
Exchange
Website
CEO
James Scapa
Employees
Incorporated
Location
Fiscal year end
Former names
Altair Engineering Ing.
SEC CIK
Subsidiaries
Altair Engineering Ltd. • Datawatch Corporation • World Programming Limited ...

ALTR stock data

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

4 Aug 22
24 Sep 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 416.31M 416.31M 416.31M 416.31M 416.31M 416.31M
Cash burn (monthly) (no burn) (no burn) 9.96M 800.33K (no burn) (no burn)
Cash used (since last report) n/a n/a 28.17M 2.26M n/a n/a
Cash remaining n/a n/a 388.14M 414.04M n/a n/a
Runway (months of cash) n/a n/a 39.0 517.3 n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
19 Sep 22 Maitra Raoul Class A Common Stock Option exercise Acquire M No No 3.84 4,000 15.36K 23,560
19 Sep 22 Maitra Raoul Stock Option Class A Common Stock Option exercise Dispose M No No 3.84 4,000 15.36K 12,000
16 Aug 22 Earhart Stephen P Class A Common Stock Option exercise Acquire M No No 5.18 4,000 20.72K 59,921
16 Aug 22 Earhart Stephen P Stock Option Class A Common Stock Option exercise Dispose M No No 5.18 4,000 20.72K 0
14 Jul 22 Stephanie Buckner Class A Common Stock Grant Acquire A No No 41.68 143 5.96K 9,806
14 Jul 22 Gilma Saravia Class A Common Stock Grant Acquire A No No 41.68 145 6.04K 13,413
14 Jul 22 Messano Amy Class A Common Stock Grant Acquire A No No 41.68 145 6.04K 13,046
13F holders Current Prev Q Change
Total holders 184 188 -2.1%
Opened positions 25 38 -34.2%
Closed positions 29 27 +7.4%
Increased positions 74 61 +21.3%
Reduced positions 57 64 -10.9%
13F shares Current Prev Q Change
Total value 3.86B 4.38B -12.0%
Total shares 65.94M 64.87M +1.6%
Total puts 6.6K 0 NEW
Total calls 40.2K 0 NEW
Total put/call ratio 0.2
Largest owners Shares Value Change
James Ralph Scapa 10.43M $806.19M 0.0%
Matrix Capital Management 9.3M $488.25M +8.1%
George J Christ 5.58M $431.58M 0.0%
BLK Blackrock 5.02M $263.38M +2.8%
Vanguard 4.81M $252.52M +3.5%
Pictet Asset Management 3.72M $195.19M -0.2%
Conestoga Capital Advisors 2.35M $123.19M -0.7%
IPXAF Impax Asset Management 2.12M $110.51M -1.7%
Bamco 1.63M $85.82M -0.0%
Eaton Vance Management 1.61M $84.67M +31.3%
Largest transactions Shares Bought/sold Change
Matrix Capital Management 9.3M +700K +8.1%
Artisan Partners Limited Partnership 242.28K -608.54K -71.5%
MS Morgan Stanley 592.38K +462.18K +355.0%
Eaton Vance Management 1.61M +384.36K +31.3%
Vanguard 4.81M +163.99K +3.5%
TROW T. Rowe Price 305.69K -162.71K -34.7%
Millennium Management 192.19K +154.2K +405.9%
Bradley Foster & Sargent 230.44K -153.37K -40.0%
Diversified Portfolios 0 -148.29K EXIT
BLK Blackrock 5.02M +137.57K +2.8%

Financial report summary

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Risks
  • We have experienced significant revenue growth and we may fail to sustain that growth rate or may not grow in the future.
  • If we cannot maintain our company culture of innovation, teamwork, and communication, our business may be harmed.
  • If our existing customers or users do not increase their usage of our software, or we do not add new customers, the growth of our business may be harmed.
  • Our ability to acquire new customers is difficult to predict because our software sales cycle can be long.
  • Reduced spending on product design and development activities by our customers may negatively affect our revenues.
  • Our business largely depends on annual renewals of our software licenses.
  • We believe our future success will depend, in part, on the growth in demand for our software by customers other than simulation engineering specialists and in additional industry verticals.
  • We face significant competition, which may adversely affect our ability to add new customers, retain existing customers, and grow our business.
  • Because we derive a substantial portion of our revenues from customers in the automotive industry, we are susceptible to factors affecting this industry.
  • The COVID-19 pandemic, or other potential future pandemics or events, may cause severe business interruptions either globally or regionally, that could have a negative impact on our financial results.
  • Adverse global conditions, including economic uncertainty, may negatively impact our financial results.
  • Our quarterly results may fluctuate significantly and may not fully reflect the underlying performance of our business.
  • Fluctuations in foreign currency exchange rates could result in declines in our reported revenue and operating results.
  • If we fail to attract new or retain existing third-party independent software vendors to participate in the APA, we may not be able to grow the APA program.
  • Licensing of our software is dependent, in part, on performance of our distributors and resellers.
  • If we fail to adapt to technology changes our software may become less marketable, less competitive, or obsolete.
  • We believe our long-term value as a company will be greater if we focus on growth, which may negatively impact our profitability in the near term.
  • Our research and development may not generate revenue or yield expected benefits.
  • If we lose our senior executives, we may be unable to achieve our business objectives.
  • Acquisitions may dilute our stockholders, disrupt our core business, divert our resources, or require significant management attention.
  • International operations expose us to risks inherent in international activities.
  • If we are unable to match engineers to open positions in our CES business or are otherwise unable to grow our CES business, our revenue could be adversely affected.
  • Our sales to government agencies and their suppliers may be subject to reporting and compliance requirements.
  • Our revenue mix may vary over time, which could harm our gross margin and operating results.
  • If our goodwill or intangible assets become impaired, we may be required to record a significant charge to earnings, which could harm our business.
  • In addition to our software, we source, distribute and sell products, which may expose us to product liability claims, product recalls, and warranty claims that could be expensive and harm our business.
  • Defects or errors in our software could result in loss of revenue or harm to our reputation.
  • Failure to protect and enforce our proprietary technology and intellectual property rights could substantially harm our business.
  • Intellectual property disputes could result in significant costs and harm our business.
  • Security breaches, computer malware, computer hacking attacks and other security incidents could harm our business, reputation, brand and operating results.
  • We may lose customers if our software does not work seamlessly with our customers’ existing software.
  • Many of our customers use our software and services to design and develop their products, which when built and used may expose us to claims.
  • If we fail to educate and train our users regarding the use and benefits of our software, we may not generate additional revenue.
  • We currently open source certain of our software and may open source other software in the future, which could have an adverse effect on our revenues and expenses and our use of open source technology could impose limitations on our ability to commercialize our software.
  • We operate internationally and must comply with employment and related laws in various countries, which may, in turn, result in unexpected expenses.
  • Changes in government trade, immigration or currency policies may harm our business.
  • We are subject to governmental export and import controls that could impair our ability to compete in international markets due to licensing requirements and subject us to liability if we are not in compliance with applicable laws.
  • Our business is subject to a wide range of laws and regulations, and our failure to comply with those laws and regulations could harm our business.
  • If we or any of our employees violate the FCPA, the U.K. Bribery Act or similar anti-bribery laws we could be adversely affected.
  • We have significant deferred tax assets in the United States, which we may not use in future taxable periods.
  • If our global tax methodology is challenged, our tax expense may increase.
  • We could be subject to adverse changes in tax laws, regulations and interpretations or challenges to our tax positions.
  • Our business may collect personal information and is subject to data protection laws.
  • An active public trading market for our Class A common stock may not be sustained.
  • The market price of our Class A common stock can be volatile.
  • We do not intend to pay dividends in the foreseeable future. As a result, your ability to achieve a return on your investment will depend on appreciation in the price of our Class A common stock.
  • If we fail to maintain effective internal controls, we may not be able to report financial results accurately or on a timely basis, or to detect fraud, which could have a material adverse effect on our business or share price.
  • We cannot predict the impact our capital structure may have on our stock price.
  • If financial or industry analysts do not publish research or reports about our business or if they issue inaccurate or unfavorable commentary or downgrade our Class A common stock, our stock price and trading volume could decline.
  • Future sales of substantial amounts of our Class A common stock may cause our stock price to decline.
  • The dual class structure of our common stock has the effect of concentrating voting control with certain stockholders who hold shares of our Class B common stock, including our founders, certain of our directors and executive officers and affiliates, who hold in the aggregate approximately 84% of the voting power of our capital stock. This will limit or preclude your ability to influence corporate matters, including the election of directors, amendments of our organizational documents, and any merger, consolidation, sale of all or substantially all of our assets, or other major corporate transaction requiring stockholder approval.
  • Certain provisions in our charter documents and Delaware law could prevent an acquisition of our company, limit attempts by our stockholders to replace or remove members of our board of directors or current management and may adversely affect the market price of our Class A common stock.
  • Our 0.250% Convertible Senior Notes due 2024, or the Convertible Notes, are effectively subordinated to our secured debt and any liabilities of our subsidiaries.
  • The Convertible Notes are our obligations only and a substantial portion of our operations are conducted through, and a substantial portion of our consolidated assets are held by, our subsidiaries.
  • Servicing our debt will require a significant amount of cash, and we may not have sufficient cash flow from our business to pay our substantial debt.
  • We may still incur substantially more debt or take other actions which would intensify the risks discussed above.
  • We may not have the ability to raise the funds necessary to settle conversions of the Convertible Notes in cash or to repurchase the Convertible Notes upon a fundamental change, and our current debt contains, and our future debt may contain, limitations on our ability to pay cash upon conversion or repurchase of the Convertible Notes.
  • Our revolving credit facility limits our ability to pay any cash amount upon the conversion or repurchase of the Convertible Notes.
  • Our loan agreements contain operating and financial covenants that may restrict our business and financing activities.
  • The conditional conversion feature of the Convertible Notes, if triggered, may adversely affect our financial condition and operating results.
  • The accounting method for convertible debt securities that may be settled in cash, such as the Convertible Notes, could have a material effect on our reported financial results.
  • Transactions relating to the Convertible Notes may affect the value of our Class A common stock.
  • If we are unable to attract and retain key personnel, we may be unable to achieve our business objectives.
  • We may require additional capital to support our business, which may not be available on acceptable terms.
  • The estimates of market opportunity and forecasts of market growth included in our periodic reports or other public disclosures may prove to be inaccurate, and even if the market in which we compete achieves the forecasted growth, our business could fail to grow at similar rates, if at all.
  • Business interruptions could adversely affect our business.
  • Our reported financial results may be adversely affected by changes in accounting principles generally accepted in the United States.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Avg
New words: announced, automatically, bankruptcy, Bath, block, call, called, Cassini, competitive, comply, concept, conducted, constitute, covenant, cured, deepen, default, desirable, deter, digital, diminishing, domain, electrical, electronic, entitled, event, exceed, failure, family, filling, fractional, fundamental, geometry, grace, greener, guaranteed, holder, implicit, indenture, insolvency, Inspire, intensify, intuitive, junior, lapsed, lattice, lead, leading, lieu, manner, merit, mezzanine, motor, National, native, negotiated, open, party, permanent, pioneer, power, powerful, preceding, prohibit, publicly, put, rank, ranking, reality, recapitalizing, reclassified, reclassify, redemption, refinance, regulatory, relevant, reorganization, repayment, semiannually, simultaneously, startup, strategy, subordinated, suite, surrendered, surviving, suspended, system, thereof, thread, Trust, trustee, University, unpaid, unsecured, waived
Removed: broad, functional, implementation, Supplementary, thirty, twenty

Patents

Utility
Systems and Methods for Utilizing a 3D CAD Point-Cloud to Automatically Create a Fluid Model
15 Sep 22
A multiple fluid model tool for utilizing a 3D CAD point-cloud to automatically create a fluid model is presented.
Utility
Systems and methods for utilizing a 3D CAD point-cloud to automatically create a fluid model
5 Jul 22
A multiple fluid model tool for utilizing a 3D CAD point-cloud to automatically create a fluid model is presented.
Utility
Beverage Mixing System
16 Jun 22
A system for mixing a liquid beverage (e.g., a beer) from multiple liquid ingredients and dispensing the liquid beverage includes: a mixing chamber having an inlet valve and an outlet valve; a pump for drawing liquid into the mixing chamber through the inlet value; a manifold in fluid communication with the inlet valve of the mixing chamber and a source of each of the liquid ingredients (e.g., a keg); a tap associated with the mixing chamber for dispensing the liquid beverage mixed in the mixing chamber; and an electronic control module in communication with the pump, the electronic control module being programmed to cause the pump to sequentially draw a predetermined volume of more than one of the liquid ingredients into the mixing chamber, the predetermined volumes corresponding to a recipe for the liquid beverage.
Utility
Execution order block for graphical programming
17 May 22
A graphical block diagram can use an execution order block to enforce an execution order for parallel subtrees.
Utility
Efficient allocation of cloud computing resources to job requests
22 Feb 22
Methods, systems, and apparatus, including computer programs encoded on a computer storage medium, that facilitate efficient allocation of computing resources of a cloud computing environment to job requests.