Exhibit 99.1

Exa Reports Third Quarter Fiscal 2015 Financial Results

Reports Strong Year-over-Year Revenue and License Growth

Expects Business Momentum to Continue

Burlington, Mass., December 4, 2014 – Exa^® Corporation (NASDAQ: EXA), a global innovator of fluids simulation solutions for product engineering, today announced financial results for the third quarter of fiscal 2015, which ended October 31, 2014.

“We reported a strong third quarter, with revenue increasing 16% year over year on a constant currency basis, 13% at actual rates and license revenue growing 19% on a constant currency basis, 16% at actual rates,” said Stephen Remondi, President and Chief Executive Officer of Exa. “We continue to see conversions from projects to recurring licenses, while engaging both new and existing customers on additional projects. While continuing to invest in technology, we delivered profitability at the upper end of our guidance range. We are looking forward to the introduction of several new technologies including our recently launched Exa Cloud offering that we expect to benefit customers across our target markets. Despite foreign exchange headwinds, we are pleased with the growing business momentum we are experiencing and expect to absorb almost half of the negative FX impact on the mid-point of our prior full year revenue expectations. We are optimistic that the upcoming introduction of several new technologies will reinforce our increasing momentum beyond the fourth quarter and into fiscal 2016.”

Third Quarter Fiscal 2015 Financial Highlights

Revenue

• Total revenue for the third quarter of fiscal 2015 was $16.0 million, an increase of 13% compared to $14.1 million in the comparable period in fiscal 2014. On a constant currency basis, total revenue increased 16% when compared with the corresponding period in fiscal 2014.

• License revenue was $12.9 million for the third quarter of fiscal 2015, compared to $11.1 million in the comparable period in fiscal 2014, representing an increase of 16%, or 19% on a constant currency basis.

• Project revenue was $3.1 million for the third quarter of fiscal 2015, an increase of 4%, or 7% on a constant currency basis, compared to $3.0 million in the comparable period in fiscal 2014.

Profitability

• GAAP income from operations was $0.3 million in the third quarter of fiscal 2015, compared to $0.7 million in the comparable period in fiscal 2014.

• Non-GAAP income from operations was $0.9 million in the third quarter of fiscal 2015, compared to $1.1 million in the comparable period in fiscal 2014.

• Adjusted EBITDA was $1.6 million in the third quarter of fiscal 2015, compared to $1.6 million in the comparable period in fiscal 2014.

• GAAP net income was $0.2 million in the third quarter of fiscal 2015, compared to GAAP net income of $0.5 million for the comparable period in fiscal 2014. GAAP net income per share was $0.02, based on 14.7 million diluted weighted average shares outstanding, compared to GAAP net income per share of $0.04 for the comparable period in fiscal 2014, based on 14.7 million diluted weighted average shares outstanding.

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• Non-GAAP net income was $0.6 million, or $0.04 per diluted share in the third quarter of fiscal 2015, compared to non-GAAP net income of $0.8 million, or $0.05 per diluted share, in the comparable period in fiscal 2014.

Balance Sheet

• The company had $23.9 million in cash and cash equivalents as of October 31, 2014, compared to $32.0 million as of July 31, 2014.

Business Outlook

Based on information available as of December 4, 2014, Exa is providing fourth quarter and fiscal 2015 guidance as indicated below.

Fourth Quarter Fiscal 2015:

• Total revenue is expected to be in the range of $16.3 million to $17.4 million.

• Estimated FX impact on revenue from previous guidance $0.9 million.

• Adjusted EBITDA is expected to be in the range of $0.7 million to $1.2 million.

• GAAP net loss is expected to be in the range of $(0.8) million to $(0.7) million.

• Non-GAAP net loss is expected to be in the range of $(0.5) million to $(0.1) million.

• Basic share count for the fourth quarter is estimated to be 13.9 million shares.

• Diluted share count for the fourth quarter is estimated to be 14.8 million shares.

Full Year Fiscal 2015:

• Total revenue is expected to be in the range of $60.9 million to $62.0 million.

• Estimated FX impact on revenue from previous guidance $1.3 million.

• Adjusted EBITDA is expected to be in the range of $2.0 million to $2.5 million.

• GAAP net loss is expected to be in the range of $(18.8) million to $(18.7) million, including non-cash tax charges of $15.2 million in the first quarter.

• Non-GAAP net loss is expected to be in the range of $(17.4) million to $(17.0) million, including non-cash tax charges of $15.2 million in the first quarter.

• Basic share count for the full year is estimated to be 13.7 million shares.

• Diluted share count for the full year is estimated to be 14.8 million shares.

The above guidance assumes an exchange rate of 1.25 US dollars per Euro and 118.0 Japanese yen per US dollar for fiscal year 2015.

An explanation and reconciliation of historical and forward-looking non-GAAP measures presented above, including revenue on a constant currency basis, adjusted EBITDA and non-GAAP net income (loss), to the comparable GAAP measures is provided below and in the attachments to this press release.

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Conference Call Information

What:	Exa’s third quarter fiscal 2015 financial results conference call
When:	Thursday, December 4, 2014
Time:	5:00 p.m. ET
Webcast:	http://investor.exa.com (live and replay)
Live Call:	(877) 878-2664, from within the U.S.
	(970) 315-0423, International
Replay:	(855) 859-2056, Passcode 38205651, from within the U.S.
	(404) 537-3406, Passcode 38205651, International

Non-GAAP Financial Measures

To supplement our condensed consolidated financial statements, which are presented on a GAAP basis, we disclose revenue on a constant currency basis, non-GAAP income from operations, non-GAAP net income, non-GAAP net income per diluted share and Adjusted EBITDA. These non-GAAP measures are not in accordance with, or an alternative for, amounts determined in accordance with generally accepted accounting principles in the United States. The GAAP measure most comparable to revenue on a constant currency basis is GAAP revenue. The GAAP measure most comparable to non-GAAP income from operations is GAAP income from operations. The GAAP measure most comparable to Non-GAAP net income and Adjusted EBITDA is GAAP net income. The GAAP measure most comparable to Non-GAAP net income per diluted share is GAAP net income per diluted share. A reconciliation of these non-GAAP financial measures to the corresponding GAAP measure is included below.

We define revenue on a constant currency basis as GAAP revenue, adjusted to reverse the impact of changes in the average exchange rates of currencies in which our international operations generated revenue and incurred expenses.

We define Non-GAAP net income as net income, excluding the after tax impact of non-cash, stock-based compensation expense and the amortization of acquired intangibles. We define EBITDA as net income, excluding depreciation and amortization, interest expense, loss on extinguishment of debt, other income (expense), foreign exchange gain (loss) and provision for income taxes, and we define Adjusted EBITDA as EBITDA, excluding non-cash, stock-based compensation expense.

Our management uses these non-GAAP measures when evaluating our operating performance and for internal planning and forecasting purposes. We believe that these measures help indicate underlying trends in our business, are important in comparing current results with prior period results, and are useful to investors and financial analysts in assessing our operating performance. For example, our international operations generate revenue and incur expenses that are denominated in foreign currencies. These amounts could be materially affected by currency fluctuations. Our principal exposures are to fluctuations in exchange rates for the United States dollar versus the Euro, British pound, Japanese yen, Chinese yuan and Korean won. Changes in currency exchange rates that are beyond our control can significantly affect our consolidated results of operations. We believe that disclosure of our revenue on a constant currency basis is useful as an indicator of demand for our solutions independent of the influence of currency exchange fluctuations. Management considers Adjusted EBITDA to be an important indicator of our operational strength and the performance of our business and a good measure of our historical operating trends. The non-GAAP financial information

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presented here should be considered in conjunction with, and not as a substitute for, or superior to, the financial information presented in accordance with GAAP and, in particular, should not be considered a measure of our liquidity. There are significant limitations associated with the use of non-GAAP financial measures. Further, these measures may differ from the non-GAAP information, even where similarly titled, used by other companies and therefore should not be used to compare our performance to that of other companies. Investors should carefully consider the attached reconciliation of these non-GAAP financial measures to the comparable GAAP financial measures.

About Exa Corporation

Exa Corporation develops, sells and supports simulation software and services to enhance product performance, reduce product development costs and improve the efficiency of design and engineering processes. Exa’s simulation solutions enable customers to gain crucial insight into design performance early in the design cycle, thus reducing the likelihood of expensive redesigns and late-stage engineering changes. As a result, Exa’s customers realize significant cost savings and fundamental improvements in their engineering development process. Our products include, PowerFLOW^®, PowerDELTA^® with PowerCLAY^®, PowerVIZ^®, PowerSPECTRUM^®, PowerACOUSTICS^®, PowerINSIGHT^®, PowerCASE™, PowerCOOL^® and PowerTHERM^® along with professional engineering consulting services. A partial customer list includes: BMW, Ford, Hyundai, Kenworth, MAN, Nissan, Peterbilt, Renault, Scania, Toyota, Volkswagen, and Volvo Trucks.

Safe Harbor Statement

This press release, including the section entitled “Business Outlook,” contains forward-looking statements describing our expectations concerning future events and our future financial performance. These statements are only predictions and may be inaccurate. Actual events or results may differ materially. In evaluating these statements, you should specifically consider various factors, including the risks outlined under “Risk Factors” in our Annual Report on Form 10-K for the year ended January 31, 2014 and in our other SEC filings. These factors may cause our actual results to differ materially from those described in our forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, our future results, levels of activity, performance or achievements may differ from our expectations. Other than as required by law, we do not undertake a responsibility to update any of the forward-looking statements after the date of this press release, even though our situation may change in the future.

Media Contact:

Michelle Murray-Ross, Exa Corporation

+1 (781) 564-0251

michelle@exa.com

Investor Relations Contact:

Garo Toomajanian, ICR

+1 (781) 564-0337

investor@exa.com

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EXA CORPORATION

Consolidated Balance Sheets

(Unaudited)

(in thousands, except share and per share data)

	October 31, 2014			January 31, 2014
ASSETS
Current assets:
Cash and cash equivalents	$	23,944		$	28,753
Accounts receivable		7,004			27,245
Prepaid expenses and other current assets		2,121			4,321
Total current assets		33,069			60,319
Property and equipment, net		7,644			7,356
Intangible assets, net		2,482			2,745
Deferred tax assets		41			13,306
Other assets		1,125			1,123
Total assets	$	44,361		$	84,849
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	802		$	1,684
Accrued expenses		6,715			10,285
Current portion of deferred revenue		11,735			30,594
Current maturities of capital lease obligations		2,433			2,426
Total current liabilities		21,685			44,989
Deferred revenue		10			273
Capital lease obligations		2,085			2,695
Deferred rent		560			831
Other long-term liabilities		505			528
Total liabilities		24,845			49,316
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.001 par value; 5,000,000 shares authorized; no shares issued and outstanding		—			—
Common stock, $0.001 par value; 30,000,000 shares authorized; 13,869,899 and 13,388,712 shares issued, respectively; 13,837,397 and 13,356,210 shares outstanding, respectively		14			13
Additional paid-in capital		87,352			85,201
Accumulated deficit		(67,730	)		(49,721	)
Treasury stock (32,502 common shares, at cost)		0			0
Accumulated other comprehensive (loss) income		(120	)		40
Total stockholders’ equity		19,516			35,533
Total liabilities and stockholders’ equity	$	44,361		$	84,849

EXA CORPORATION

Consolidated Statements of Operations and Comprehensive Income (Loss)

(Unaudited)

(in thousands, except share and per share data)

	Three Months Ended October 31,						Nine Months Ended October 31,
	2014			2013			2014			2013
Revenue:
License revenue	$	12,866		$	11,121		$	36,842		$	32,532
Project revenue		3,092			2,987			7,729			6,768
Total revenues		15,958			14,108			44,571			39,300
Operating expenses (1):
Cost of revenues		4,562			4,023			13,790			11,527
Sales and marketing		2,442			2,243			7,518			6,539
Research and development		5,462			4,428			15,968			13,264
General and administrative (2)		3,171			2,736			9,510			7,933
Total operating expenses		15,637			13,430			46,786			39,263
Income (loss) from operations		321			678			(2,215	)		37
Other income (expense), net:
Foreign exchange gain (loss)		194			31			325			(25	)
Interest expense		(88	)		(71	)		(265	)		(628	)
Interest income		3			4			9			13
Loss on extinguishment of debt		—			—			—			(755	)
Other income, net		4			2			7			7
Total other income (expense), net		113			(34	)		76			(1,388	)
Income (loss) before income taxes		434			644			(2,139	)		(1,351	)
(Provision) benefit for income taxes		(214	)		(128	)		(15,870	)		528
Net income (loss)	$	220		$	516		$	(18,009	)	$	(823	)
Net income (loss) per share:
Basic	$	0.02		$	0.04		$	(1.31	)	$	(0.06	)
Diluted	$	0.02		$	0.04		$	(1.31	)	$	(0.06	)
Weighted average shares outstanding used in computing net income (loss) per share:
Basic		13,822,400			13,341,235			13,701,380			13,318,839
Diluted		14,749,825			14,706,263			13,701,380			13,318,839
Comprehensive income (loss):
Net income (loss)	$	220		$	516		$	(18,009	)	$	(823	)
Foreign currency translation adjustments		(126	)		64			(160	)		76
Comprehensive income (loss)	$	94		$	580		$	(18,169	)	$	(747	)

(1) Includes stock-based compensation expense as follows:

	Three Months Ended October 31,				Nine Months Ended October 31,
	2014		2013		2014		2013
Cost of revenues	$	52	$	35	$	134	$	99
Sales and marketing		88		67		249		169
Research and development		200		110		547		264
General and administrative		193		138		473		314
Total	$	533	$	350	$	1,403	$	846

(2) Includes amortization expense related to intangible assets as follows:

	Three Months Ended October 31,				Nine Months Ended October 31,
	2014		2013		2014		2013
General and administrative	$	88	$	88	$	263	$	263

EXA CORPORATION

Consolidated Statements of Cash Flows

(Unaudited)

(in thousands)

	Nine Months Ended October 31,
	2014			2013
Cash flows (used in) provided by operating activities:
Net loss	$	(18,009	)	$	(823	)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization		2,157			1,561
Stock-based compensation expense		1,403			846
Deferred rent expense		(267	)		(424	)
Non-cash interest		—			162
Loss on extinguishment of debt, non-cash portion		—			465
Deferred income taxes		15,209			(1,614	)
Net change in operating assets and liabilities:
Accounts receivable		20,432			20,398
Prepaid expenses and other current assets		258			(201	)
Other assets		(2	)		(55	)
Accounts payable		(874	)		(887	)
Accrued expenses		(3,415	)		(1,107	)
Other liabilities		(23	)		84
Deferred revenue		(18,942	)		(13,978	)
Net cash (used in) provided by operating activities		(2,073	)		4,427
Cash flows used in investing activities:
Purchases of property and equipment		(684	)		(674	)
Net cash used in investing activities		(684	)		(674	)
Cash flows used in financing activities:
Proceeds from stock option exercises		749			173
Payments of long-term debt		—			(7,365	)
Payments of capital lease obligations		(2,303	)		(1,532	)
Payment of debt issuance costs		—			(213	)
Net cash used in financing activities		(1,554	)		(8,937	)
Effect of exchange rate changes on cash		(498	)		(93	)
Net decrease in cash and cash equivalents		(4,809	)		(5,277	)
Cash and cash equivalents, beginning of period		28,753			30,716
Cash and cash equivalents, end of period	$	23,944		$	25,439
Supplemental cash flow disclosures:
Cash paid for interest	$	265		$	533
Cash paid for income taxes	$	1,282		$	289
Supplemental disclosure of non-cash investing and financing activities:
Acquisition of equipment through capital leases	$	1,700		$	563

EXA CORPORATION

Reconciliation of historical Non-GAAP to GAAP measures

(Unaudited)

(in thousands, except per share data)

Adjusted EBITDA:

	Three Months Ended October 31,						Nine Months Ended October 31,
	2014			2013			2014			2013
Net income (loss)	$	220		$	516		$	(18,009	)	$	(823	)
Add back:
Depreciation and amortization		763			522			2,157			1,561
Interest expense, net		85			67			256			615
Loss on extinguishment of debt		—			—			—			755
Other income, net		(4	)		(2	)		(7	)		(7	)
Foreign exchange (gain) loss		(194	)		(31	)		(325	)		25
Provision (benefit) for income taxes		214			128			15,870			(528	)
EBITDA		1,084			1,200			(58	)		1,598
Stock-based compensation expense		533			350			1,403			846
Adjusted EBITDA	$	1,617		$	1,550		$	1,345		$	2,444

Non-GAAP operating income (loss):

	Three Months Ended October 31,				Nine Months Ended October 31,
	2014		2013		2014			2013
Operating income (loss)	$	321	$	678	$	(2,215	)	$	37
Add back:
Stock-based compensation expense		533		350		1,403			846
Amortization of acquired intangible assets		88		88		263			263
Non-GAAP operating income (loss)	$	942	$	1,116	$	(549	)	$	1,146

Non-GAAP net income (loss):

	Three Months Ended October 31,						Nine Months Ended October 31,
	2014			2013			2014			2013
Net income (loss)	$	220		$	516		$	(18,009	)	$	(823	)
Add back:
Stock-based compensation expense		533			350			1,403			846
Amortization of acquired intangible assets		88			88			263			263
Income tax effect (1)		(220	)		(155	)		(583	)		(388	)
Non-GAAP net income (loss)	$	621		$	799		$	(16,926	)	$	(102	)

Non-GAAP net loss, per diluted share:

	Three Months Ended October 31,						Nine Months Ended October 31,
	2014			2013			2014			2013
Net income (loss) per diluted share (2)	$	0.02		$	0.04		$	(1.31	)	$	(0.06	)
Add back:
Stock-based compensation expense		0.04			0.02			0.10			0.06
Amortization of acquired intangible assets		0.01			0.01			0.02			0.02
Income tax effect (1)		(0.02	)		(0.01	)		(0.04	)		(0.03	)
Non-GAAP net income (loss), per diluted share (2)(3):	$	0.04		$	0.05		$	(1.24	)	$	(0.01	)

(1) The tax effect of non-cash stock-based compensation expense and non-cash amortization of acquired intangibles is estimated using a blended rate equivalent to our annual estimated United States federal tax rate and our state tax rate, exclusive of any net federal benefit or charge. This rate is based on our estimated annual GAAP income tax rate forecast. Our estimated tax rate on non-GAAP income is determined annually and may be adjusted during the year to take into account events or trends that we believe materially impact the estimated annual rate including, but not limited to, significant changes resulting from tax legislation, revenues and expenses and other significant events. Due to the differences in the tax treatment of items excluded from non-GAAP earnings, as well as the methodology applied to our estimated annual tax rates as described above, our estimated tax rate on non-GAAP income may differ from our GAAP tax rate and from our actual tax liabilities.

(2) Share amounts utilized on a fully diluted basis were approximately 14.7 million and 13.7 million for the three and nine months ended October 31, 2014, respectively, and 14.7 million and 13.3 million, respectively, for the three and nine months ended October 31, 2013.

(3) Due to rounding, totals may not equal the sum of line items in the table above.

EXA CORPORATION

Reconciliation of forward looking Non-GAAP to GAAP measures

EBITDA and Adjusted EBITDA:

(in millions)	Three Months Ended January 31, 2015		Year Ended January 31, 2015
Net loss		$(0.8)-(0.7)	$	(18.8)-(18.7)
Add back:
Depreciation and amortization		0.8		3.0
Interest expense, net		0.1		0.4
Provision for income taxes		0.1		15.6
EBITDA		0.2-0.3		0.2-0.3
Stock-based compensation expense		0.5-0.9		1.8-2.2
Adjusted EBITDA	$	0.7-1.2	$	2.0-2.5
Non-GAAP net loss:
(in millions)	Three Months Ended January 31, 2015		Year Ended January 31, 2015
Net loss	$	(0.8)-(0.7)	$	(18.8)-(18.7)
Add back:
Stock-based compensation expense		0.5-0.9		1.8-2.2
Amortization of acquired intangibles		0.1		0.4
Income tax effect (1)		(0.3)-(0.4)		(0.8)-(0.9)
Non-GAAP net loss	$	(0.5)-(0.1)	$	(17.4)-(17.0)

(1) Non-GAAP financial information for the quarter is adjusted using a blended tax rate equivalent to our annual estimated United States federal tax rate and our state tax rate, exclusive of any net federal benefit or charge. This rate is based on our estimated annual GAAP income tax rate forecast. Our estimated tax rate on non-GAAP income is determined annually and may be adjusted during the year to take into account events or trends that we believe materially impact the estimated annual rate including, but not limited to, significant changes resulting from tax legislation, material changes in the geographic mix of revenues and expenses and other significant events. Due to the differences in the tax treatment of items excluded from non-GAAP earnings, as well as the methodology applied to our estimated annual tax rates as described above, our estimated tax rate on non-GAAP income may differ from our GAAP tax rate and from our actual tax liabilities.