Sydney, Australia – Altium, a leading printed circuit-board software provider, has announced a 20% increase in its annual profit, resulting in a rise in its dividend payout. The company reported a net profit of $66.3 million for the 12 months ending June, with revenue reaching $263.3 million.
This performance exceeded the average analyst forecast, which predicted a net profit of $66.7 million on revenue of $257.9 million. Altium had earlier guided for revenue to fall within the range of $255 million and $265 million.
The company’s underlying earnings before interest, tax, depreciation, and amortization (EBITDA) grew by 20% to $96.0 million. Although the underlying EBITDA margin decreased slightly from the previous year, falling from 36.7% to 36.2%, it remained within Altium’s projected range of 35%-37%.
Altium also declared an increase in its final dividend, raising it to 29 Australian cents (18.6 U.S. cents) compared to 26 Australian cents in the previous year.
The growth in revenue was primarily driven by a 20% increase in design software revenue, which reached $203 million. Notably, Altium’s Octopart parts search engine experienced a 12% revenue increase to $56.2 million, fueled by a 32% surge in average revenue per click.
Looking ahead, Altium has provided its revenue forecast for fiscal year 2024, estimating it to be between $315 million and $325 million, with an underlying EBITDA margin of 35%-37%. Additionally, the company has reaffirmed its ambitious long-term targets of achieving $500 million in revenue and a 38%-40% underlying EBITDA margin by fiscal year 2026.