ALTR - Earnings call transcript Q1 2022

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Hello. Thank you for standing by, and welcome to the Altair Engineering, Inc.

First Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question-and-answer session. Instructions]. [Operator that being advised conference today's be recorded. is Please Instructions]. [Operator hand over Chief to I Officer. would speaker conference to like Simon, now your the today, Administrative Dave Please go ahead.

Dave Simon

After afternoon. Altair. a March press Scapa, of CEO; XX, release Relations Altair's our the closed on I'm issued can first this full-year Dave are and for being website conclusion performance market of the Good Jim replay Administrative Founder, be section quarter second following quarter me XXXX. thank and Officer on IR a Chief Chief the and This of which call call section call. of first the quarter website will ended and with conference Financial with we Matt details investor.altair.com. be for XXXX, attending XXXX of Investor Simon, and regarding Welcome guidance And Chairman is Officer. earnings at today, for available Brown, the you our our accessed on the call and recorded,

update risks These release that cause expectations. today. actual could in to outlook. These differ variety uncertainties and from not we our call, make any only be laws. statements summarized considered date. statements may statements our that our that obligation any federal business under and forward-looking of of We considered any or statements will today's earlier today the a results forward-looking should of reflect risks representative are our subject These we as views related issued views as of to are materially to During disclaim press be to subsequent securities

as affect that reports time to please in refer quarterly from filed those actual the well risks and other annual For a further results, documents of that discussion have other our file or with we as time. and may important to our SEC contained factors filed material could the

GAAP reconciliation to financial in included non-GAAP certain call, our will During refer measures press of today's A the course measures. to release. is non-GAAP we of

questions, quarterly dynamics we to results. presentation that or of this With at may over turn in prepared to the Finally, the in metrics provide the incremental our additional to that, detail times continue or offer be usual insight may responses not to to provide into greater advised let our future. business that your may our prepared are comments or Jim? his Jim we me Please call remarks. our for

Jim Scapa

continued acquisitions very above lockdowns and of first the discuss half driven China, first science this technology Thank continues particular in and wins space. of the ranges. some verticals. We renewal help XX.X% Total increase our first had be of new in compared primarily on to increase the the all focused XXXX inflation, smarter to call. financial driving our our that million, in notable strong Eastern the first software you, results data our began competitiveness The computational in and all artificial quarter high-value mission growing regions deliver and geographic the by insurance quarter disruptions, macroeconomic of chain on service in products We Despite and an coming Programming, customers a and globally with integrations the year. efficiency and QX with guidance the in Europe, the decisions metrics banking, high World release base. across XXXX, and welcome software retention recent of outlook for war and our expansion industry and success our our XXXX we strength business by will on robust for intelligence. Powersim billings and our three in growth key opportunities supply Dave, with with products challenges, strong the second and to quarter year to stories including expertise in to $XXX.X and for momentum remainder software saw everyone I of experienced XXXX, XXXX, XXXX, customer XXXX suite, verticals. the and analytics Today, simulation were Altair of our quarter

of We report results with total QX are pleased to million. revenue $XXX.X

to Software for product XX.X% of year-on-year nearly Adjusted QX of million $XXX.X XX% in was XXXX, QX was revenue X.X% XXXX, quarter an $XX the currency. XXXX. XXXX the $XXX.X or for quarter million QX million of EBITDA constant reflecting of $XX.X of in in versus compared from first increase million growth

in the revenue first Software for XX.X% was year of revenue period. to quarter prior compared XX.X% the product total

Our the recurring XXXX. for for XXXX software XX% full-year of quarter compared license rate XX% first the remains as high to at

software technical of for power into domain industrial has including The in provider strong major and of including revenue power the revenue knowledge converted simulation electronics, control and power decline as and of costs period. customers acquisition in motor tools technologies addition Powersim, the design design around of saw approximately out acquired Altair's applications. revenue deep compared automotive, this prior Altair to of of microgrids. EBITDA, technology electronics. power the development over rounds the in reduce motor Powersim's and a other aggregate market-leading the saw electronic and In electric many XX% time experienced we quarter, balance million While business product electronics incremental with market Powersim to year drives, systems, a to growth and and to domain proven an for for This companies the design Altair's sectors. application leading the incremental system overall team March, solution consumer supplies, aerospace, thousands globe, expands of electronics, $X.X offerings

technology Their Programming founded customers with the units, subscriptions controller acquired generation, into electronic thermal under motor device suite company simulations, Altair's specializing systems including and SQL UK-based World cost. design software. in flagship offer ago, Altair most for software SaaS multi-language to Consistent embedded We are notably, programmers design, Powersim's available is unit-based and The integrated language and analysis. rapidly the Programming's level being a the coding licensing incremental units. developed and SaaS available into implemented and science develop Altair's or early tremendous at Powersim Altair technology December, data under was execute system, XXXXs. allows and and circuit solutions made and in Python product cooling analytics integrating value language. we data software combined are and coding XX under solutions code no Last in years World products environments, Altair

critical large individual for mainframe used many years, computers. and XX it Many analysis, decades using functions often to data last language data run in have comfortable the processing, been extremely and are proficient have the SaaS which develop enterprises analysis back-office on programs, and programmers and organizations it. statistical Over

and a interpreters interpret only compilers bringing is widely from are and most available language technology large-scale of SaaS XXX for the SaaS language While and for the platforms, compiling completeness many Institute. as perspective substantial a many development. years SaaS Altair. we on including was languages extremely Today, believe Programming over We enterprises performance available from for global World see World it, employ competitive customers, and acquisition opportunity Programming many push its compile

came data An the United market selling significant acquisition in Programming analytics with the for challenge. against the States, largest injunction products existed However, a globally. World

X, for the and work. States, best data ruled open applications from to to Altair North globally, the operations. now way this and free philosophy the In Programming XXXX, to their made dedication against solutions acquisition federal enterprise the World including people immediate injunction selecting to case close addition, which and Programming's impact Carolina to multinational products World believe most in their many implement improve is sell coding everywhere, a science We way an United lift technology customers United On Programming as will architecture a World the expect judge get including an States. about profound the March exemplifies Programming. World have challenge. harness innovation, think our on organizations the products

they already fact, address can core maximize cloud embrace it requirements our and Altair's of will organizational computing, and us research In leveraging coding concepts, terms. allowing including changer, evolving they a language. and investment autonomy every and open-source on source language investments implementation into SaaS their while platforms and are game Programming, approach to power, best their be a own and on World them of partners the determine modern flexibility use success. put customers development which With simultaneously the remain decades customers and the telling

users features specialize sintering jet capabilities binder includes XXXX broaden, and faster tool for including element manufacturing. of simulate updates new users' manufacturing and next-generation set that exceptional capabilities. This to system architecture, release including solver updates with and construction as XXXX recent and applications. circuit XXXX the for further solve comprehensive Simulation includes many includes strengthen, host uptake international broaden Altair's Simulation support of and of problems get well electronic for many additive features for release includes simulation solutions accuracy, analysis, modeling, standards. finite includes an engineering, construction This help Simulation a antennas connectivity results also connectivity, and Altair's Our also several a also new that myriad toolkit. architectural updates exciting with for solutions, as Altair's simulation bolster and bigger new latest traditional that ADAS engineering design board release

In and features our capabilities Design of added providing signal also users' using deliver data our and predictive XXXX Simulation design implement with that near intelligence seamless, tools board the as for products exploration generated trained design and easy-to-use, release, with circuit exploration and artificial ideation is introduced design to integrated insights modeling electronic board more with machine optimization smart components, performance. environment. circuit We printed and module techniques, capabilities verification, for interactive real-time Design modeling Explorer learning advanced setup, users element functionalities. expanded interpretation. have workflows multi-run provide It execution, AI simulation including to abilities integrity design leverages experiments, and enhance Altair systems, Explorer design finite into

had the Simulation expertise XD Simulation the topology outstanding systems and and how XX% of a equipment in for expansion a AI and summary, allowing and engineering simulation an science the workflow multidisciplinary leverage available multidisciplinary extends first development intelligence. it continues automotive The simulation, in efficiency and engineers geometry significant human automotive revenue EMEA be technologies. Inspire, related modeling. to new solution increases BMW's great representing Design crashworthiness optimization SimSolid, optimization. of a quarter surrogate to supplier In new existing level engineering in and XXXX wins, through using power selected XXXX, and expertise, recently crash we computing published and simulation fluid an our APAC our electric of target computational to high-value analysis major customers functionality is including company emulating artificial design flourish. EMEA, Altair's design it describing during structural convergence represents is solutions directly across to aerospace manufacturer including many to leverage optimization. of is allowing kinematics validation committed machine-learning help dynamics. With and computational optimization Altair resources to The Explorer two extreme Altair's ML-powered SimSolid. several through is AI-enhanced of study help workflow its electronic motor allocate In efforts. release efficiently specific printing, to more A tools, disciplines, the and performance from to to performance The building parameterize And related This to structures. BMW and case for increase augments We wins capabilities Altair's

closed World licensing company including U.S. X-figure deal Altair analytics with the as our a AI financial the optimistic largest opportunities us five-year from We for our momentum continues. our many Programming analytics exciting, amidst bring are look applications of the The units our deal, concerns. And data of them to and banks front forward global we technology product of their one in throughout and organization. we and closed significant power have fully economic recent deal acquisition. services reasons geopolitical ever across be in and data and a largest portfolio, financial in customer to Finally, an helping the a leverage sector data to XX banking on services worldwide

our especially the value our given to technology culture, of despite offerings, ability global combined take uncertainty, good business and deliberately We headwinds our as and economic responsibilities are citizens. do model. confident in the well strength exceptional We of

programs, Sustainability and forward sustainable of updated and community thinkers inclusion, academic to recently build the students around includes will help a empower who Our involvement, innovators, Report our efforts become more world. which discussion

call the provide performance guidance XXXX. details turn over more I our quarter Now and Matt the to financial for our will and full-year to second Matt? on of

Matt Brown

high were another software $XXX.X In better and us. of in for Thank power top-line call. across adjusted once customers with history. both XX.X% of range decision-making is guided we metric to you, profit, resonating billings exciting results on highest software quarter Jim, the our revenue again to achieved to growth generating and XXXX, joining hello milestone QX to billings Total our growth we quarter. translating by the enable every our our the The the Thank Altair's driven on quarter in the in end This EBITDA supported for everyone and and first by you million, strong above to XXXX. the all quarter, compared geographies. by an increase the for was of recording

billings CES in year quarter software business. expectations in Our decrease revenue exceeding a partially total primarily were was in billings the resulted first and compared a of strength other which In in first in to by as result strength product billings, XXXX. our and declines prior down offset the our services for total, in software the quarter

revenue or includes to product X.X% revenue, $XXX.X compared million $XXX.X XXXX. QX was million QX of revenue, increase of was and increase services Total an XXXX. other Software X.X% compared or to an which

are for the software recurring the product to billings that at rate, XX% percentage software Our be recurring, quarter. which strong license approximately continues is of

XX.X% basis, revenue of billed the FX a year-over-year FX software X.X%, increased in and compensation respectively. million, impacted and Relative million therefore, changes XXXX, first constant percentage quarter quarter growth XXX by product margins, $X.X gross unfavorably revenues carries QX our of in total the portion in XX.X% a impacted prior we $X.X reminder, the Therefore, revenues mix, a approximately on of changes of are total which excludes a year, are, software in as were of first by As our approximately in which significant expense, growth in an basis to revenue Non-GAAP currency software compared saw dollar increase U.S. respectively. and other total higher product the XX.X% rates rates. revenues than our and and XXXX, currencies revenue as revenue. and was margin, gross stock-based restructuring points to

margins improve In to of percentage as trended software product revenue non-GAAP as support addition, down. our to costs continued a specific our revenue

in total in the revenue XXXX year. revenue of Software XX.X% was prior XX.X% QX compared to

long-term, revenue with relative driven or outpace revenue restructuring QX compensation, amortization EBITDA the Non-GAAP million the to continue assets XX.X% excludes year Over XXXX combined year services and continue in by product general spending. total compared to other to the revenue. was in in well increase growth $XX.X compared in ago a as was mix increase our $XX.X an shift and or increase XX.X%. expenses, towards $XX.X charges, will operating million This we in intangible to $XX.X to as million expect to stock-based XX.X% quarter, the which expectations quarter of of prior million our software were year there Adjusted revenue of prior disciplined as period. the compared quarter,

EBITDA adjusted our higher dropping growth we to line. incremental revenue percentage the drive of as greater to bottom continue We see a

was cash strong sheet. flow flow of the in excluding $XXX.X decrease offset $X.X quarter compared $X.X during in first free of The in QX with January. activities. flow ended our from primarily for million judgment cash WPL balance assumed partially This Reflecting to payment, But $XX.X million the payment by payment was this flow payment, cash as a and of due million. XXXX. $XX.X quarter-over-quarter free this approximately $XX.X we cash one-time free cash We operating decrease million and paid quarter was part which other of the liability the our cash equivalents, our our to to is a litigation from acquisition million quarter against Turning was of million, year-end.

flow So with we're generation cash in the first very pleased our quarter.

QX for guidance to XXXX. Turning and full-year

to We the are to year-over-year $XXX to software a XX.X% or of $XXX XX.X%. X.X% million maintaining expecting of full-year of software million to range growth or in product range And XX.X%. million $XXX revenue million product revenue for we're guidance year-over-year growth QX $XXX of our XXXX

XXXX We and be to XXXX, revenue with down to expect services previous slightly our compared guidance. continue consistent other to in

in for XXXX X.X%. revenue And $XXX million revenue to $XXX year-over-year guidance maintaining total to XXXX expect we million total QX range of $XXX of X.X% range result, the growth we're $XXX X.X%. or million full-year growth of X.X% to or a of year-over-year million As our to

currency development revenue prior we our to headwinds be to marketing, investing administrative is increases given sales reflects spend EBITDA. a relative last product reducing disciplined to drive guidance in while approach. Our in as as year in which We're quarter. relative adjusted and full-year to guidance From and perspective, continue helping well the departments, in our cost

expect our of for million to or we X.X% XXXX, or XXXX, range compared range total And million the million the the to ago compared revenue in to of revenue EBITDA million XX.X% revenue QX XX.X% year we $XX.X a revenue at EBITDA to are total XXXX. $XXX million period. adjusted For raising X.X% guidance total of full-year XX.X% adjusted slightly $XX XX.X% of midpoint to or million in in total of of to $XX to or $X.X $XX

are payment assumed of full-year again XXXX $XX as litigation We we the which raising cash free that judgment million in against to flow and part our existing was a of WPL million, our guidance also paid the $XX acquisition to for million $XX.X includes January. range

about of in results first earnings press are the after from financial high In outflow to half excited an in puts market year. amounts, and has particular, goals We're achieve expectations we're software about faster. pattern I'm As the in to record our guidance Operator? services reconciliations which release, fluctuate a billings be provided happy year. half better our to collections this our including continue the we'd that, of position us offering inflow into GAAP to QX and our the which to was cash today. primarily of our customers, QX comparable collection a expecting products With We've make questions. and the that them first patterns, quarter, on from even smaller cash close second tables I'm year, your make to which free in detailed reminder, but excellent free decisions a and the our pattern better billings historical take more sensitive shown year, the cash issued flow and excited for enabling seasonally. in

Operator

Instructions]. [Operator you. Thank

Rosenblatt. Our first with Blair question Abernethy comes from

You may proceed with your question.

Blair Abernethy

guys. Hi, Rosenblatt. from It's Blair

So a the to year. start great

side Just bit seeing you a Obviously, what little a Europe. about position to little -- earlier of terms bit banking analytics, simulation, But talk really you're talked you projects your change seeing about wanted HPC the Russia. and more the of whether you've you're ask the in this tone in the your in that budgets in tenor across looking to at customers just year? or wondering you're data or any in quarter in in

Jim Scapa

by. going siren a is there because me, Forgive

So -- one I'll I second. just apologize.

Blair Abernethy

Okay.

Jim Scapa

asking Were you was about specifically sorry. Europe? I'm that globally? Or

Blair Abernethy

Jim. Yes, Europe. Europe,

Jim Scapa

Okay, Europe.

makes Okay, that sense.

So we exposure well. have do in Eastern as in Russia, is that bit have a Europe, little We there's I don't things there. of we of mean first And some a kind general, around of down. that shut to a obviously, all. lot stagnation and there

think are. moving that, But emphasis That the have obviously, But it rest it. of right part, and relatively. a the us for the and impact So but we're things. things of Europe -- -- huge for for what feeling impacted in we hasn't now, bit Eastern we see, I part it and to very most -- scheme could doubt are Europe. no cautious hasn't about some mean, in much. relatively Russia. most about like change. It's we're Eastern There's overall I on from really be -- Russia normally, the in And we And seeing not Europe

Blair Abernethy

On relative. Great.

want data U.S. you are Programming's of a still gears talk standalone the how then on they the And go-to-market? you things? to the and you integration what's to understand What teams? now. should Just status are Is World just watching side, be World your now shifting analytics on Programming. in reign your free have Just sort about side? side market, it the What the of for? within are Can product approaching go-to-market that at Or there that? plans we

Jim Scapa

here just mean later a But finance to I we mode standalone Matt team. left that now, but of going administrative. a of happen somewhat a lot have smiling. the is that things year. lot start have But this in is we should the on for with company in

we which working We're to working go-to-market as -- products As our side, fast and analytics units think, already are our we really model, we're value teams then the And teams are And the far because, how going available are in closely together. units' on model, are into model. customers. development side. make that, those closely available going incremental as customers operating under that we're together. we're quite data go-to-market, customers, you -- go-to-market they're those to how can. teams is I as the those part We've folks the teams the units that frankly. already of solutions so organized are powerful products products very then The moving know, as become pretty as And to are

United We you when just in U.S. States. if are the the going that but headquartered it doesn't of a there they're and Europe, It in operations seeing have impact I restriction they're in United my alluded where in global -- enterprise, in have selling impacts the script the sort it to States, was the to shift. a Americas.

more so they reluctant. be And might

something, they were want they because global to a more fact, do to have solution. reluctant In

our pipeline. close And are growing very of pretty things opportunity, seeing XXXX, fast, seeing these it clear. we But we to a not frankly. whether So significant how not are within a or lot increase very, pipelines -- fast quite

happy. are pretty things about So We're going. pleased how we're very

Blair Abernethy

Altair now weight analytics model? How those customer just and much line, are -- your units you where And much the Great. are on how the along of base? at customers units an Okay. on data of Altair

Jim Scapa

realize There sure company. of been when I'm customers breadth were of had companies that Datawatch customers. of a take together. a of different here. out stab to a they the data. base literally put people Several we that kinds them, not going came of were acquired XX-year There's customer I'm thousands lot have

a of of kind accounts. mix have you So

With accounts, because metric at a it. just -- know. I to is truly on don't a I'm the and I he enterprise really going this and say Matt, looked stab have doesn't

do with going of as the that. it's units a imagine. interesting we're probably better are third And half but interesting feeling the and you think as But to in I have to with a can momentum and and have to portfolio, -- more that you more products lot to So we now. model becomes more customers,

and I So to it's easier think going getting start easier.

Operator

And from comes Thank Schappel Capital. question Mark you. Loop our next with

You may your proceed with question.

Mark Schappel

you Hi, SimSolid. taking quarter. on my thank discussion and prepared in nice this you a for job quarter. the your much for question Jim, remarks Not question around

give could us update you if an on wondering Just SimSolid? just

Jim Scapa

Yes.

honestly a to that on basically we're in both as horsepower investing and adding winners continue We development We're development it side SimSolid, winner. the more just with -- crush our more team. and

pace. the not we're fastest capabilities adding product to by we're still. probably And more to years with it's product more things we two customers, And at just far and portfolio might that rapid terms do. thought impact of to usage, growing very, that then the be in so feasible in engaged And a very ago doing

Mark Schappel

also you a SimSolid of Great. kind product? Inspire customers, using also, with new and are just starter as Thanks. of or And to a kind then respect lead

Jim Scapa

and Altair pretty an especially market, you easy package lead of It's that in, works so whatever. so middle on has package, so great that to so part powerful the part it's to the the the reasonable -- have -- might because it's depending middle a account use, of fast, is or really units And to very easy SimSolid market do. frankly, and you Solid -- the low in where in fact, use. is,

So for is market. a Similar great Inspire. entree it that into

it, so, really largest accounts. to is hate I But And more that And and is yes. It very traction. overused. it it tremendous product say this sort People also automotive, of it's accounts, different. game has recognize more in the gets but And changer. aerospace

Mark Schappel

much strong was Is And you here. guidance, Great. you largely currency side. Matt, headwinds respect is full-year. a addressed With Thank earlier? quarter, then on revenue pretty you. it for the flat software bringing guidance the very to to that due that the especially And in staying

Matt Brown

got it exactly Yes, you've right.

overachieved amount by on gave total ago. So just offset to quarter-on-quarter three we months the full-year we're that we currency that just headwinds QX for almost relative the is revenue that seeing exactly guide

can taking So constant up we're right currency But us a reported down for basis, currency, what that for when factor quarter. the in on guided you full-year read guidance to we last we revenue. back

Operator

Thank you.

next Our Dylan comes Blair. Becker with William from question

your proceed question. with may You

Dylan Becker

more data. play Can of bringing So Jim, simulations the here you taking here, design more job. Appreciate ago. process. just I second the us a into guys. a data simulation Nice Hey, earlier the get requiring questions here. throughout help And the side maybe of -- come But about sense analytics maybe on think how the usage you touched thinking right? can applicability dynamics

the it's to unit this is more separate of a component both sophistication, data? got kind of of But But capture too. aspects units dynamic tailwind. Maybe on You've any leveraging there. other there complexity kind

Jim Scapa

I'm -- sorry. the so especially that word? last what Capturing

Dylan Becker

around, tailwind simulation, in being data leveraged not but more The across enterprises. only again,

Jim Scapa

Okay.

we whole And HyperMesh, -- it's set by well. is solution. functions, a a whatever element And based had module, anything which put we do model. you actually, that displacements. can it the do these primarily objective the tool Explorer. there, set neural originally, now once primarily what's predict the and about you now And we brings we very, impact way, what gauges? And thing my got changing that I because volumes your almost but that. the AI impact Explorer. can of because a run finite It's also we or up in the through can of we data or little your remarks using very all want, take can element in Design So mass we've into And is a in that from model, kind prepared all Design runs, you've built can SimSolid, that changes then add of net. of Or it's What's you a quickly changing

it the use methods my do put a is have one know Inspire call We can earnings gazillions an runs is we blazing She and fast. wife today. second, really hang I again methods. which all Now to -- these on we and calling simulations. of run But use run it DOEs other it doesn't SimSolid, It into -- through through me. is because of

can And a of there allows about mesh. you're as neural what's the run of to it well. able cool it, Inspire, huge And yes, kind SimSolid run geometry to we to So the parameterize through fast number opposed us as simulations. very nets course, is very,

additional So power that yes, we well. as have

So sure I'm but your -- question I'm not completely, answering

Dylan Becker

Yes. helpful. Maybe continues across well. your of given Helpful they're cross-sell Thanks. suite? of to reminder portfolio some kind standardize as the strategy that backdrop switching platform of maybe M&A with and of maybe of well leverage customers some of simulation super are functionality your as guys' the opportunity these layering in Maybe some to for existing incremental of maybe a because WPL, as and maybe so That's providers who simulation -- overall. other kind other can integration are model resonate these past? the you they've And units maybe as solutions your how to existing that much of in the offer worked of looking guys kind

Jim Scapa

heard a fully what Programming break a sure think not engines see fire two things. -- today. into do of I lot lot World have, I'm because interference go of And accounts is, we But the playing a by again. me we lot had I accounts. let into into I of these that I'm got challenges see I cross-selling having it that

important basically, the financial you can opportunities analytics -- and market for On definitely almost the language big think is cross-sell extensively. services there's a is using big every the which very of banking customer there. probably and SaaS There's stuff, programming pretty market, and

analysis manufacturing test there is not, There's a base career, language are as opportunity in accounts. on also So those speaking, it. into of our SaaS my significant the of and statistical many And on all because, significant pretty early to well. a opportunity used data customers, frankly those SaaS it or take believe I using traditional do into

-- the the efficient. produces opportunity. think think are -- very, very I is The I code, compiler there algorithms lot so efficient extremely a of

So cases data processing There's -- obviously business the plain a just world used I there's in cases think world. world. of used the lot there's engineering in a old the and

Operator

Q&A you. James that to And call closing turn any back to the our session. would like over concludes now I Thank for Scapa remarks.

Jim Scapa

want Just the the to analysts the support well. and in our express all for our investors to as to company, appreciation for and Altair interest

course. and So of Thank my to you. -- team,

Operator

today's you. Thank Thank This for call. participating. you concludes conference

You may now disconnect.

Altair Engineering (ALTR) 7 May 222022 Q1 Earnings call transcript