Altair reported that its total revenue for the third quarter was $119.4 million, a 1.6% decrease compared to the $121.3 million in revenue for the third quarter of 2021.

“Altair had a solid third quarter, showing exceptional momentum despite significant macro-economic uncertainty, led by double digit growth in billings on a constant currency basis and strong demand across all geographies,” said James Scapa, founder, chairman and chief executive officer of Altair. “Our dedicated global teams continue to push forward with outstanding technology developments and applications.”

“We're very pleased with the third quarter, continuing the success we had in the first half of the year,” said Matt Brown, chief financial officer of Altair. “Our third quarter revenue was at the high end of our guidance range, despite significant currency headwinds, while our profitability exceeded our expectations. These strong results give us the confidence to raise our full year 2022 guidance in constant currency.”

The company projects revenue for the fourth quarter to be around $143-$148 million, with total revenues for the year anticipated to be around $555-$560 million.