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A ALTAIR ONLY FORWARD Altair Announces Third Quarter 2021 Financial Results November 4 , 2021 Exceeds Expectations for Third Quarter 2021 , Raises Outlook for the Year TROY , Mich . , Nov. 04 , 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 third uarter ended September 30 , 2021 . " Altair continued its across - the - board momentum with an excellent third quarter 2021 , highlighted by year - on - year software product revenue growth of 16.5 % , " said James Scapa , Founder , Chairman and Chief Executive Officer of Altair . " Our products , services , and business models are clearly providing value and we continue to increase our market share as customers invest for growth . " " Our third quarter 2021 was another impressive quarter , with revenue and profit exceeding expectations and allowing us to raise our outlook for the full year , " said Matt Brown , Chief Financial Officer of Altair . " I'm extremely pleased with our financial results and our ability to continue expanding our margins while significantly growing revenue . " Third Quarter 2021 Financial Highlights • Software product revenue was $ 102.3 million compared to $ 87.8 million for the third quarter of 2020 , an increase of 16.5 % • Total revenue was $ 121.3 million compared to $ 106.5 million for the third quarter of 2020 , an increase of 14.0 % • Net loss was $ 8.1 million compared to a net loss of $ 8.5 million for the third quarter of 2020. Diluted net loss per share was $ 0.11 based on 75.8 million diluted weighted average common shares outstanding , compared to diluted net loss per share of $ 0.12 for the third quarter of 2020 , based on 73.3 million diluted weighted average common shares outstanding ● Adjusted EBITDA was $ 14.8 million compared to $ 8.2 million for the third quarter of 2020 , an increase of 81.4 % . Adjusted EBITDA margin was 12.2 % compared to 7.7 % for the third quarter of 2020 • Non - GAAP net income was $ 9.6 million , compared to Non - GAAP net income of $ 4.7 million for the third quarter of 2020 , an increase of 107.1 % . Non - GAAP diluted net income per share was $ 0.11 based on 86.3 million non - GAAP diluted common shares outstanding , compared to Non - GAAP diluted net income per share of $ 0.06 for the third quarter of 2020 , based on 80.7 million non - GAAP diluted common shares outstanding • Free cash flow was $ ( 0.5 ) million , compared to $ ( 7.5 ) million for the third quarter of 2020 Business Outlook Based on information available as of today , Altair is issuing the following guidance for the fourth quarter and full year 2021 : ( in millions ) Fourth Quarter 2021 106.0 to $ 124.0 $ ( 13.1 ) $ 6.8 $ 11.0 $ Conference Call Information What : When : Time : Live Call : Replay : Webcast : Software Product Revenue $ Total Revenue $ Net Loss $ Non - GAAP Net Income $ Adjusted EBITDA $ Net Cash Provided by Operating Activities Free Cash Flow Altair's Third Quarter 2021 Financial Results Conference Call Thursday , November 4 , 2021 5:00 p.m. ET ( 866 ) 754-5204 , Domestic ( 636 ) 812-6621 , International ( 855 ) 859-2056 , Conference ID 7966437 , Domestic ( 404 ) 537-3406 , Conference ID 7966437 , International http://investor.altair.com ( live & replay ) 109.0 $ 127.0 $ ( 10.2 ) $ 9.0 $ 14.0 $ $ $ Full Year 2021 437.0 to $ 515.0 ( 20.8 ) 47.7 $ $ 72.0 49.6 41.0 LA LA LA LA $ $ $ $ 440.0 518.0 ( 17.9 ) 49.9 75.0 52.6 44.0