SYDNEY -- Altium reported fiscal first half revenue grew 24% to $78.1 million for the period ended Dec. 31.

After-tax profits rose 58% to a record $23.4 million.

EBITDA margin was 36.3%, up 630 basis points. Cash from operations rose 80% to $26.8 million.

Sales to China rose 49% to $9.9 million, the Americas were up 11% to $23.3 million, and EMEA was up 19% to 17.3 million euros. . Board and Systems revenue grew 17% to $58.4 million with all regions making positive contributions. New Altium Designer new seats grew 34%, and the subscription pool grew 9% to 39,179.

Revenue growth at Altium subsidiaries Octopart and TASKING were up 80% and 35%, respectively.

In a statement, Altium CEO Aram Mirkazemi said: “Revenue growth of 24% and an EBITDA margin of 36.3% demonstrate the power of momentum in our business and our commitment to consistent and sustainable growth over the long term. From China to EMEA to Octopart and to TASKING, we can see the effect of momentum driving sustained growth. I have no doubt that this momentum will take us to our $200 million revenue target in 2020.”

“Altium is focused on achieving PCB market leadership by 2020 and market dominance by 2025. We are picking up a gear with our transactional sales organisation to enable us to scale to 100,000 subscribers through a number of initiatives, including further systematization and greater account-based intelligence.”

“We expect our subscriber growth to accelerate post 2020 once the impact of these initiatives comes into effect. We are excited about the introduction of our next generation products, including our new cloud platform Altium 365. These measures are expected to support our drive to market dominance and subsequently to transform electronic design and its realization.”

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