SYDNEY – Altium reported Board and Systems (Altium Designer, Circuit Studio, SolidWorks PCB) revenue of $65.4 million for the half-year ended Dec. 31, an increase of 12% year-over-year.

Total revenue was $92.8 million, up 19%. Profit before tax grew 23% to $31.8 million. Revenue growth in China for the half-year was 27%. Altium Designer seats increased 19% during the period, and subscriber growth was up a record 16%.

Altium confirms previously provided full-year revenue guidance of between $205 million and $215 million. The firm is likely to land at the lower end of guidance as a result of the coronavirus.

“Altium has delivered a strong performance for the first half, particularly in comparison with an outstanding first half performance in fiscal 2019,” said Altium CEO Aram Mirkazemi. “Revenue growth of 19% and an EBITDA margin of 37%, excluding the positive impact of the new leasing standard, for the half mark over eight years of successive periods of double-digit revenue growth and expanding margin.”

As of Dec. 31, Altium had a cash balance of $80.7 million, up 39% year-over-year.