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A ALTAIR ONLY FORWARD Altair Announces Second Quarter 2021 Financial Results August 5 , 2021 Exceeds Expectations for Second Quarter 2021 , Raises Outlook for the Year TROY , Mich . , Aug. 05 , 2021 ( GLOBE NEWSWIRE ) -- Altair ( Nasdaq : ALTR ) , a global technology company providing software and cloud solutions in the areas of simulation , high - performance computing , data analytics and artificial intelligence today released its financial results for the second quarter ended June 30 , 2021 . " Altair had a strong second quarter 2021 , with across - the - board success in multiple verticals , regions , and products , reflecting year on year software product revenue growth of 22 % , " said James Scapa , Founder , Chairman and Chief Executive Officer of Altair . " Customers are investing to grow their businesses as we emerge from the pandemic , and Altair's products , services , and business models are clearly resonating , gaining market awareness , and increasing market share . " " Once again we saw customer demand exceed expectations in the second quarter 2021 , which enabled us to achieve results above the high end of our guidance range for the third consecutive quarter , " said Matt Brown , Chief Financial Officer of Altair . " The second quarter 2021 reflects solid execution on our strategy of driving strong organic topline revenue growth and profit expansion . " Second Quarter 2021 Financial Highlights • Software product revenue was $ 99.6 million compared to $ 81.8 million for the second quarter of 2020 , an increase of 21.7 % • Total revenue was $ 119.9 million compared to $ 98.6 million for the second quarter of 2020 , an increase of 21.7 % • Net loss was $ 13.6 million compared to a net loss of $ 10.2 million for the second quarter of 2020 , an increase of 33.5 % . Diluted net loss per share was $ 0.18 based on 75.3 million diluted weighted average common shares outstanding , compared to diluted net loss per share of $ 0.14 for the second quarter of 2020 , based on 73.0 million diluted weighted average common shares outstanding • Adjusted EBITDA was $ 9.5 million compared to $ 5.7 million for the second quarter of 2020 , an increase of 65.2 % . Adjusted EBITDA margin was 7.9 % compared to 5.8 % for the second quarter of 2020 • Non - GAAP net income was $ 5.6 million , compared to Non - GAAP net income of $ 3.0 million for the second quarter of 2020 , an increase of 86.8 % . Non - GAAP diluted net income per share was $ 0.07 based on 83.4 million non - GAAP diluted common shares outstanding , compared to Non - GAAP diluted net income per share of $ 0.04 for the second quarter of 2020 , based on 80.7 million non - GAAP diluted common shares outstanding • Free cash flow was $ 15.8 million , compared to $ 4.5 million for the second quarter of 2020 , an increase of 252.7 % Business Outlook Based on information available as of today , Altair is issuing the following guidance for the third quarter and full year 2021 : ( in millions ) Third Quarter 2021 94.0 to $ 112.0 ( 22.8 ) 0.1 $ $ $ 2.0 $ Time : Conference Call Information What : When : Live Call : Software Product Revenue $ Total Revenue $ Net Loss $ Non - GAAP Net Income $ Adjusted EBITDA $ Net Cash Provided by Operating Activities Free Cash Flow Altair's Second Quarter 2021 Financial Results Conference Call Thursday , August 5 , 2021 5:00 p.m. ET ( 866 ) 754-5204 , Domestic ( 636 ) 812-6621 , International 97.0 $ 115.0 $ ( 20.9 ) $ 1.6 $ 4.0 $ $ $ $ Full Year 2021 434.0 to $ 512.0 $ ( 31.6 ) 40.9 63.0 43.0 34.0 $ $ $ $ 440.0 518.0 ( 26.8 ) 44.6 68.0 48.0 39.0