TROY, Mich., July 23, 2019 – Shares of Altair Engineering Inc. (NASDAQ: ALTR) inclined 2.37% to $42.38. The stock grabbed the investor’s attention and traded 306.572K shares as compared to its average daily volume of 442.81K shares. The stock’s institutional ownership stands at 76.60%.
Altair (ALTR) reported software product revenue of $103.30M. Non-GAAP software product revenue was $105.50M. Non-GAAP software product revenue includes revenue not recognized under GAAP because of acquisition accounting adjustments associated with the accounting for deferred revenue in noteworthy business combinations.
Total revenue was $127.90M. Non-GAAP total revenue was $130.10M. Non-GAAP total revenue includes revenue not recognized under GAAP because of acquisition accounting adjustments associated with the accounting for deferred revenue in noteworthy business combinations.
Net income was $13.00M. Diluted net income per share was $0.17 based on 76.70M diluted weighted average common shares outstanding. Adjusted EBITDA was $24.00M. Adjusted EBITDA represents net income adjusted for income tax expense, interest expense, interest income and other, depreciation and amortization, stock-based compensation expense, restructuring charges, asset impairment charges and other special items as determined by management.
Modified Adjusted EBITDA was $26.20M. Modified Adjusted EBITDA represents Adjusted EBITDA adjusted for revenue not recognized under GAAP because of acquisition accounting adjustments associated with the accounting for deferred revenue in noteworthy business combinations.
Non-GAAP net income was $20.20M. Non-GAAP diluted net income per share was $0.26 based on 77.70M non-GAAP diluted common shares outstanding. Non-GAAP net income excludes stock-based compensation, amortization of intangible assets related to acquisitions, non-recurring adjustments, revenue not recognized under GAAP because of acquisition accounting and certain tax adjustments. Free cash flow, which consists of cash flow from operations less capital expenditures, was $20.70M.
ALTR has a market value of $3.07B while its EPS was booked as $0.30 in the last 12 months. The stock has 72.38M shares outstanding. In the profitability analysis, the company has gross profit margin of 72.30% while net profit margin was 5.30%. Analyst recommendation for this stock stands at 2.40.
I am an active day trader spending the majority of my time analyzing earnings reports and watching commodities and derivatives. I have a Masters Degree in Economics from Westminster University with previous roles counting Investment Banking.
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