TROY, MI – Altair saw first-quarter revenue of $166 million compared to $159.8 million for the first quarter of 2022, an increase of 3.9%.

Of that total, the company's software product revenue was $149.6 million, an increase of 6.2% from the revenue of $140.9 million for the same quarter last year. For the next quarter, the company forecasts $138 million to $140 million in total revenue.

"Altair had a very strong start to 2023, with software product revenue and total revenue above the high end of our guidance,” said James Scapa, founder, chairman and chief executive officer of Altair. "Q1 exceeded our expectations and represents an all-time high for revenue to continue our good momentum from 2022. Demand for our products continues to be strong and we’re seeing the investments we’ve made in product development and our approach to our customers’ success paying off.

"Coming right on the heels of a very strong fourth quarter to end last year, we had impressive performance in the first quarter," said Matt Brown, chief financial officer of Altair. "We’re excited to be starting the year so well, which we feel gives us momentum and helps to achieve our financial goals for the year."