Altair Engineering Inc

Latest Results (17.11.2025):

Altair Engineering Inc’s fourth quarter results for 2024 demonstrate robust revenue growth in its software and total revenue streams despite a significant drop in GAAP net income, while non-GAAP measures and operational cash flows continued to show improvement. The full year 2024 report further highlights Altair’s turnaround from a net loss in 2023 to profitability, underlining key gains in non-GAAP net income, adjusted EBITDA, and free cash flow. This summary pertains to the fourth quarter (Q4) of 2024 and the full year 2024 financial performance.

Q4 2024 Revenue Growth

In Q4 2024, Altair Engineering Inc recorded a software revenue of $179.4 million, up 15.0% in reported currency from the previous year, while total revenue increased to $192.6 million—both reflecting strong quarterly performance compared to Q4 2023.

Q4 2024 Profitability Metrics

The GAAP net income for Q4 2024 fell significantly to $1.0 million from $19.7 million in Q4 2023, with net income per share of $0.01 compared to $0.22 previously. However, non-GAAP results improved, with non-GAAP net income reaching $47.4 million and adjusted EBITDA rising by 13.9% to $61.0 million, signaling positive underlying business trends.

Full Year 2024 Performance

Over the full year, Altair Engineering Inc’s software revenue climbed to $611.9 million and total revenue reached $665.8 million, marking double-digit growth. Notably, the company turned around its annual results by posting a GAAP net income of $14.2 million — a dramatic improvement from a net loss of $(8.9) million in 2023, complemented by enhanced non-GAAP net income and adjusted EBITDA metrics.

Cash Flow and Operational Efficiency

Altair demonstrated stronger cash generation in Q4 2024, with operating cash flow increasing to $37.5 million and free cash flow to $33.2 million, both substantially up from Q4 2023. Full year figures also reflected healthier cash flows, supporting the company’s financial agility ahead of its pending transaction with Siemens Industry Software Inc.