Altium Delivers Strong Performance with 23% Revenue Growth in FY22, Provides Positive Outlook for FY23

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Electronic design software company Altium Limited has announced its audited financial results for the year to 30 June 2022. Altium outperformed all expectations and exceeded its financial targets for revenue and margin. Highlights for the year include:

  • Strong revenue growth of 23% to US$220.8 million.
  • Strong underlying EBITDA margin of 36.7% (up from 34.3%).
  • Recurring revenue of 75% of total revenue, with 31% growth in ARR.
  • Double-digit revenue growth for Altium PCB business of 12% to US$169.3 million. 
  • Record revenue growth of 85% for Octopart to US$50.0 million.
  • Acceleration of term-based licenses; up by 63% (33  % of all new licenses).
  • Strong Altium 365 adoption with almost 24,700 monthly active users at year end (up from 19,700 in February 2022) and over 9,300 monthly active accounts at year end (up from 7,700 in February 2022).
  • Strong growth in Profit After Tax of 57% to US$55.5 million.
  • Earnings Per Share (EPS) grew by 57% to US$42.2 cents.
  • Final dividend of AU 26 cents (AU 47 cents for full year up 18%).

Altium CEO Mr Aram Mirkazemi said “Altium delivered a strong financial performance for fiscal 2022 supported by a record performance from our Octopart business and solid growth from our Electronic Design Software business. Octopart is the market leader in electronics parts search and benefitted from the global parts shortage which we expect to continue for some time into the new financial year.” 

“Altium Digital Sales has increased efficiency and has achieved a higher realized price, with minimal discounting.  Additionally, we are getting a lift as our higher end enterprise grade capabilities gain mainstream adoption.”

Altium President Mr Sergey Kostinsky commented “our cloud platform Altium 365 remains well ahead of our competitors with adoption growing strongly. We now have 23% of Altium Designer subscribers who have fully adopted Altium 365 with 30% more in the process of adopting it. We are accelerating our transformative agenda for the global electronics industry where we aim to bring the business of engineering onto Altium 365 from design to supply chain and manufacturing.”

“Our business model transition from perpetual to term-based licenses is progressing well; 33% of new seats sold were term-based licenses. This, combined with the uptake of higher value seats that include Pro and Enterprise level capabilities, is driving up subscription revenue. This positive trend has accelerated our annual recurring revenue run rate and supports our drive toward our aspirational goal of US$500 million.”


Altium is committed to revenue and margin guidance for fiscal 2023 of:

• Total Revenue between US$255 million to US$265 million (15%-20% growth)

  • US$195 million to US$200 million for Electronic Design Software Business (15%-18% growth)
  • US$60 million to US$65 million for Engineering Cloud Platform Business (20%-3 0% growth)

• Underlying EBITDA margin of 35%-37%

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