Altair Engineering reports Q4 EPS 31c, consensus 19c

Reports Q4 revenue $145.0M, consensus $146.2M. "Altair had an outstanding fourth quarter, achieving record high software revenue, and showing exceptional momentum for the full year," said CEO James Scapa. "This performance is clearly well above expectations, and I am extremely proud of Altair’s global team for their exceptional achievements." CFO Matt Brown added, "The fourth quarter was very strong, capping one of the most successful years in our long history. We ended 2022 with record high annual revenue and exceeded our profit expectations. We’ve been successful in our disciplined approach to spending and expect to carry that approach into 2023, as we remain committed to exiting the year with 20% EBITDA margin, while continuing to add 200 to 300 basis points of margin per year into the future."