Altair Announces Second Quarter 2019 Financial Results

(1) Adjustment for revenue not recognized under GAAP due to acquisition accounting adjustments associated with the accounting for deferred revenue in significant business combinations.

 
The following table provides a reconciliation of projected Adjusted EBITDA and Modified Adjusted EBITDA to projected net (loss) income, the most comparable GAAP financial measure:
 
  (Unaudited)
    Three Months ending
September 30, 2019
    Year Ending
December 31, 2019
(in thousands)   Low     High     Low   High
Net (loss) income $(6,750) $(5,450) $10,500 $13,100
Income tax (benefit) expense  (3,600)  (2,900)  5,700  7,100
Stock-based compensation expense  2,100   2,100   7,500  7,500
Interest expense  2,700   2,700   6,400  6,400
Depreciation and amortization  5,300   5,300   22,000  22,000
Interest income and other non-recurring adjustments  1,000   1,000   900  900
Adjusted EBITDA  750   2,750   53,000  57,000
Acquisition related deferred revenue (1)     2,250       2,250       9,000     9,000
Modified Adjusted EBITDA   $ 3,000     $ 5,000     $ 62,000   $ 66,000

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