SAN DIEGO – Altium got off to a “slow” fiscal first quarter, but sales are picking up and the company expects to see fiscal 2021 revenue increase six to 12% year-over-year.

The printed circuit board design software company cited Covid conditions for the initial lag, but noted new momentum since its fiscal second quarter began in October. It will release Altium Designer 21, the next iteration of its flagship software, in early December.

Speaking at the company’s annual meeting, chief executive Aram Mirkazemi said the company’s outlook for a rebound next year is improving.

“The positive signs we have seen in the last two months and our growing confidence in our second half, which is historically stronger than our first half, lead us to reaffirm our guidance for the full fiscal year 2021. This is in the face of the accelerated spread of the Coronavirus pandemic, which is likely to be with us for the whole of the financial year 2021.”

The company expects fiscal 2021 full-year revenue of $200 million to $212 million, and EBITDA of $76 million to $89 million, up 38 to 42%.

Mirkazemi said Altium is focused on scaling its enterprise sales team to “prepare for a major offensive into the high-end PCB market.”

As part of that goal, Mirkazemi said Altium 365, the company’s cloud platform, “dominates” electronic design, electronic parts search and fabrication. While Altium has through internal development or acquisition built its presence in the former two, Mirkazemi did not elaborate how Altium plans to master fabrication.

He did, however, note Altium is nearing launch of a version of Altium 365 dedicated to China’s domestic component and manufacturing suppliers. That version will be built from the ground up specifically for China using AliCloud, will be integrated with WeChat and Alipay, he said.

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