Altair Announces Third Quarter 2019 Financial Results

  (Unaudited) 
   Three months ended  
   ASC 606  
(in thousands)  March 31,
2018
    June 30,
2018
    September 30,
2018
    December 31,
2018
 
Software product revenue $89,670  $70,606  $64,182  $79,903 
Total revenue  113,257   93,360   86,751   103,011 
Net income (loss)  24,684   (1,080)  934   (9,003)
Adjusted EBITDA  29,550   5,303   2,399   12,928 

Business Outlook

The following table provides a reconciliation of projected Non-GAAP net income to projected net loss, the most comparable GAAP financial measure:

    (Unaudited)  
    Three Months ending
December 31, 2019
    Year Ending
December 31, 2019
 
(in thousands)   Low     High     Low     High  
Net loss   $ (5,350 )   $ (3,350 )   $ (11,400 )   $ (9,400 )
Stock-based compensation expense     2,100       2,100       7,700       7,700  
Amortization of intangible assets     3,600       3,600       14,300       14,300  
Acquisition related deferred revenue (1)     2,250       2,250       9,000       9,000  
Non-recurring adjustments                 2,000       2,000  
Income tax effect of non-GAAP adjustments     (370 )     (370 )     (1,500 )     (1,500 )
Non-GAAP net income   $ 2,230     $ 4,230     $ 20,100     $ 22,100  

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