![]() ![]() ![]() Scapa cited during his remarks indicated that Altair is expanding its footprint in existing accounts, winning some from competitors, and engaging with new types of customers–such as architects using structural optimization techniques. Scapa said that this could be used to fund larger acquisitions. You may recall that Altair raised additional funds in June Mr. A little self-congratulation would have been OK - and that this fuels Altair’s added investment in R&D, sales and marketing. Scapa started the earnings call by saying that Q2 exceeded expectations - he’s not an excitable guy so no one expected Elon Musk-ish remarks, but still. Other revenue, which is Altair’s case is from a fascinating grab-bag of LED lighting and the WEYV consumer music and content service, reported revenue up 10% to $2 million.Client engineering services revenue was basically flat at $12 million.Software-related services revenue (training, etc.) was $9 million, up 6%.During the earnings call, CEO Jim Scapa said that growth was driven by a combination of sales to new customers and expansion at existing accounts Software product revenue was up 22% to $73 million.How did they do this? Can they do it again? Altair clearly thinks so, raising guidance for the year. First ANSYS reported solid performance due large deals and sales across its portfolio and now, Altair reports that total revenue was up 17% (17!!! - we don’t see that very often), with software revenue up 22% (even less often).
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