TROY, Mich. - Altair (NASDAQ:ALTR), a company specializing in computational intelligence, has announced the acquisition of Research in Flight, the developer of FlightStream®, a computational fluid dynamics (CFD) software widely used in the aerospace and defense industry. This move is aimed at bolstering Altair's portfolio with advanced aerodynamic analysis capabilities.
FlightStream® is recognized for its fast computational speeds, low hardware requirements, and user-friendly interface. It is designed to support engineers and designers in conducting rapid design iterations and comprehensive aerodynamic studies. The software is capable of handling various flow conditions from subsonic to supersonic, including complex aerodynamic phenomena.
James R. Scapa, founder and CEO of Altair, emphasized the company's growth in aerospace and defense, attributing it to their leading computational intelligence solutions. He stated that the inclusion of FlightStream® will enhance their ability to meet complex customer demands, particularly in the emerging urban air mobility and electric vertical takeoff and landing (eVTOL) sectors.
FlightStream® offers unique capabilities for analyzing unconventional aircraft designs, including surface vorticity, flow-separation, and viscous analysis. It also incorporates integral boundary layer modeling, which allows for a detailed examination of viscous effects, aiding in design optimization.
Research in Flight co-founder Vivek Ahuja expressed pride in FlightStream® being a standard tool for aircraft designers and anticipated that joining Altair would expand its reach to more engineers.
FlightStream® is approved for use on the United States Air Force network and is utilized by NASA Ames and Langley Research Centers, as well as the U.S. Army. The software will be integrated into Altair's HyperWorks® design and simulation platform and will be accessible via Altair Units.
This acquisition is part of Altair's ongoing efforts to provide comprehensive solutions across various industries, aiming to enhance competitive edge and support smarter decision-making, while contributing to a more sustainable future. The information is based on a press release statement.
InvestingPro Insights
As Altair (NASDAQ:ALTR) solidifies its position in the aerospace and defense sectors with the acquisition of Research in Flight, its financial metrics provide a window into the company's investment profile. Altair's market capitalization stands at a robust $6.68 billion, reflecting investor confidence and the scale of its operations. The company's revenue growth remains positive, with a 7.07% increase reported in the last twelve months as of Q4 2023, which is indicative of its steady market expansion and could be bolstered by the recent acquisition.
InvestingPro Tips suggest that while Altair's P/E ratio appears steep at -729.73, and even more so when adjusted for the last twelve months at -1239.68, these numbers should be viewed in the context of the company's long-term growth potential in the computational intelligence space. Another key metric, the gross profit margin, stands impressively at 80.12%, showcasing Altair's ability to maintain profitability in its operations.
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With the next earnings date on the horizon, May 2, 2024, stakeholders and potential investors will be watching closely to see how the integration of FlightStream® influences Altair's financial trajectory and whether it will enhance the company's innovative edge in a highly competitive industry.
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