Altair Engineering Inc. (ALTR) Financial Statements (2024 and earlier)

Company Profile

Business Address 1820 E. BIG BEAVER ROAD
TROY, MI 48083
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 7372 - Prepackaged Software (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments467,459316,146413,743241,221223,11735,345
Cash and cash equivalents467,459316,146413,743241,221223,11735,345
Receivables207,111181,538146,949124,614112,248101,234
Inventory, net of allowances, customer advances and progress billings     2,4001,964
Inventory     2,4001,964
Other undisclosed current assets26,05329,14227,52921,10014,69215,491
Total current assets:700,623526,826588,221386,935352,457154,034
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization     1,298
Operating lease, right-of-use asset30,75933,60128,49433,52628,134
Property, plant and equipment39,80337,51740,47836,33236,29730,153
Intangible assets, net (including goodwill)541,675556,657469,235340,595300,758280,368
Goodwill458,125449,048370,178264,481233,683210,532
Intangible assets, net (excluding goodwill)83,550107,60999,05776,11467,07569,836
Restricted cash and investments     380340
Deferred income tax assets9,9559,7278,4957,125 
Other noncurrent assets40,67840,41028,35225,38919,70817,288
Other undisclosed noncurrent assets     4,1131,033
Total noncurrent assets:662,870677,912575,054442,967390,688329,182
TOTAL ASSETS:1,363,4931,204,7381,163,275829,902743,145483,216
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities54,07652,89048,95443,36639,26140,097
Employee-related liabilities42,30734,77230,67631,740
Accounts payable8,99510,4346,6478,5948,5858,357
Accrued liabilities45,08142,456    
Deferred revenue131,356113,08193,16085,69175,431
Debt81,45577199,90030,384430331
Other liabilities48,39856,371122,22630,98228,60326,347
Contract with customer, liability59,765
Other undisclosed current liabilities8,82510,3199,73810,3319,1411,218
Total current liabilities:324,110232,738473,978200,754152,866127,758
Noncurrent Liabilities
Long-term debt and lease obligation, including:225,929305,60419,550188,653178,23831,417
Long-term debt, excluding current maturities225,929305,604    
Capital lease obligations557
Finance lease, liability    353744
Other undisclosed long-term debt and lease obligation    163,977157,32030,860
Liabilities, other than long-term debt102,12396,66055,76636,80234,80834,907
Deferred revenue32,34731,37912,8729,3888,136
Contract with customer, liability6,754
Other liabilities47,15141,21642,89427,41426,67228,153
Operating lease, liability22,62524,06519,55024,32320,174
Other undisclosed noncurrent liabilities    24,32320,174 
Total noncurrent liabilities:328,052402,26475,316249,778233,22066,324
Total liabilities:652,162635,002549,294450,532386,086194,082
Temporary equity, carrying amount   7847842,3522,352
Equity
Equity, attributable to parent, including:711,331569,736613,197378,586354,707286,782
Additional paid in capital864,135721,307724,226474,669446,633379,832
Accumulated other comprehensive loss(22,309)(30,002)(8,950)(2,797)(9,528)(11,052)
Accumulated deficit(130,503)(121,577)(102,087)(93,293)(82,405)(82,005)
Other undisclosed equity, attributable to parent888777
Total equity:711,331569,736613,197378,586354,707286,782
TOTAL LIABILITIES AND EQUITY:1,363,4931,204,7381,163,275829,902743,145483,216

Income Statement (P&L) ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues612,701572,221532,179469,921458,915396,379
Cost of revenue
(Cost of Goods and Services Sold)
(121,791)(122,889)(129,666)(121,305)(132,599)(115,973)
Gross profit:490,910449,332402,513348,616326,316280,406
Operating expenses(490,667)(456,269)(390,174)(336,903)(318,109)(255,762)
Operating income (loss):243(6,937)12,33911,7138,20724,644
Nonoperating income (expense)18,492(16,899)(562)1,9171,5522,580
Gain (loss), foreign currency transaction, before tax1,637(4,405)    
Other nonoperating income (expense)  4,127(562)1,9171,5522,580
Interest and debt expense(6,116)(4,377)(12,065)(11,598)(6,371)(200)
Income (loss) from continuing operations before income taxes:12,619(28,213)(288)2,0323,38827,024
Income tax expense(21,545)(15,216)(8,506)(12,532)(10,930)(13,309)
Income (loss) from continuing operations:(8,926)(43,429)(8,794)(10,500)(7,542)13,715
Income (loss) before gain (loss) on sale of properties:(8,794)(10,500)(7,542)13,715
Net income (loss) available to common stockholders, basic:(8,926)(43,429)(8,794)(10,500)(7,542)13,715
Interest on convertible debt      
Net income (loss) available to common stockholders, diluted:(8,926)(43,429)(8,794)(10,500)(7,542)13,715

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income (loss):(8,926)(43,429)(8,794)(10,500)(7,542)13,715
Other comprehensive income (loss)7,693(21,052)(6,153)6,7311,762(5,980)
Comprehensive income (loss), net of tax, attributable to parent:(1,233)(64,481)(14,947)(3,769)(5,780)7,735

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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