Alteryx Delivers Excellent Revenue Growth

According to a recent report, the global market for Big Data and Business Analytics is expected to grow 15% annually to $512.04 billion by 2026 from $171.39 billion in 2018. Alteryx (NYSE: AYX) is a leading player in the market that recently reported stellar quarterly results.

Alteryx’s Financials

For the fourth quarter of the year, Alteryx’s revenues grew 76% to $156.5 million, ahead of the Street’s estimates of $131 million. Net income grew from $16.5 million a year ago to $30.7 million. On an adjusted basis, net income was $0.64 per share, doubling over the year and soaring past the market’s forecast of $0.35.

Alteryx ended the quarter with 6,087 customers, growing 30% over the year. It added 474 net new customers with names like Caesars Entertainment, Canadian Pacific Railway, Emerson Electric, Halliburton, Komatsu, and Nasdaq added to the portfolio. It reported a dollar-based net expansion rate of 130%, reducing from 132% reported a year ago. Bookings grew 81% over the year to $290 million in total contract value.

It ended the year with net revenues growing 65% to $417.9 million and a net income of $27.1 million. On an adjusted basis, net income grew to $0.94 per share compared with $0.60 per share reported a year ago.

For the first quarter, revenue is expected to be in the range of $105-$108 million with a non-GAAP net loss per share of $(0.07)-$(0.11). It expects to end the current year with revenues of $555-$565 million with an adjusted net income of $0.80-$0.90.

Alteryx’s Strategic Tie-up

Besides acquisitions, Alteryx is also expanding its footprint through strategic tie-ups. It recently announced a five-year partnership with PwC U.S. As part of the agreement, PwC will leverage Alteryx’s data science, analytics, and process automation platform as part of its consulting and digital solutions. PwC will be able to advise clients in establishing strategy that can be built on the Alteryx Platform via hands-on, business-focused training, process assessment, and data design. The Global Elite Partner status will ensure that PwC will be able to implement several go-to-market initiatives and reach clients worldwide through sales and marketing activities.

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Sramana Mitra is the founder of One Million by One Million (1M/1M), a global virtual incubator that aims to help one million entrepreneurs ...

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