Cloud Stocks: Alteryx Focuses On The User And Partner Community

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According to a Markets and Markets report, the global data science platform market is expected to grow from 30% annually over the next few years to become a $140.9 billion industry by 2024. The market was estimated at $37.9 billion in 2019. Data science and analytics platform provider Alteryx (AYX) recently announced its stellar quarterly results. The company continues to add to its partner portfolio to drive market expansion.

Alteryx’s Financials

For the first quarter, Alteryx’s revenue grew 9% to $118.8 million ahead of the market’s estimates of $106.07 million. GAAP gross profit of $107.9 million, or a GAAP gross margin of 91%, was better than GAAP gross profit of $95.8 million, or a GAAP gross margin of 88%, a year ago.

Adjusted net loss of $5.5 million, or $0.08 per diluted share, grew from $6.5 million, or $0.10 per diluted share, a year ago. The market was looking for a loss per share of $0.23.

Alteryx ended the quarter with 7,214 customers, up 12% with 131 net new customers. It achieved a dollar-based net expansion rate of 120%. ARR for the quarter grew 27% to $512.7 million.

For the second quarter, Alteryx expects revenues of $111-$114 million with an adjusted net loss of $0.27-$0.24 per share. For the full year 2021, it expects revenue of $565-$575 million with a net income of ($0.07)-$0.07 per share. The market was looking for revenues of $557.89 million for the year with a net income of $0.03 per share, and revenues of $111.03 million with a net loss of $0.20 for the quarter.

Alteryx’s Growing Partnership

Alteryx is continuing to expand its ecosystem of both community members and technology partners during the quarter. Last quarter, it launched a new Alteryx community site that simplifies the process of learning, connecting, and driving value for all its community members.

The platform includes personalized recommendations and a new data science portal to support advanced analytics. Alteryx has seen a positive impact of its community platform as the customers engaged with its community are three times more likely to expand and have significantly higher usage of advanced analytics capabilities.

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Disclosure: I am an investor in this company.

 All investors should make their own assessments based on their own research, informed interpretations and risk appetite. This article ...

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