TROY, MI – Altair reported revenue of $160.4 million for the fourth quarter, an increase of 13.9% compared to the $140.8 million in revenue for the fourth quarter of 2021.

For the full year, the company saw $572.2 million in revenue compared to $532.2 million for the full year of 2021, an increase of 7.5%.

The company's quarterly software product revenue was $145 million compared to $122.4 million for the fourth quarter of 2021, an increase of 18.5%, and the full-year software revenue of $506.5 million was an 11.6% increase over 2021's total of $453.7 million.

For the first quarter of 2023, Altair projects revenue of $155 million to $158 million, and for 2023 as a whole, the company forecasts between $613 million and $623 million in revenue.

"Altair had an outstanding fourth quarter, achieving record high software revenue, and showing exceptional momentum for the full year," said James Scapa, founder, chairman and chief executive officer of Altair. "This performance is clearly well above expectations, and I am extremely proud of Altair's global team for their exceptional achievements."