Cloud Stocks: How Can Alteryx Improve Its PaaS Strategy?

The current pandemic conditions are driving accelerated digital transformation across organizations. IDC expects more than $1 trillion to be invested in data-related transformation initiatives. Data science and analytics platform provider Alteryx’s (NYSE: AYX) easy-to-use platform is helping accelerate digital transformation journeys for the organizations.

Alteryx’s Financials

For the third quarter, Alteryx’s revenue grew 25% to $129.7 million, beating analyst estimates of $119.12 million. GAAP net income of $4.4 million, was also significantly better than GAAP net loss of $(6.2) million a year ago. Adjusted net income of $27.1 million or $0.39 per diluted share grew from $16.4 million or $0.24 per diluted share a year ago. It was also significantly better than the market estimate of $0.14 per share.

Alteryx ended the quarter with 6,955 customers, up 24%, with 241 net new customers. It achieved a dollar-based net expansion rate of 124%. ARR grew 38% to over $449.5 million.

For the fourth quarter, Alteryx expects revenues of $146-$150 million with an adjusted net income of $0.27-$0.31 per share. For the full year 2020, it expects revenue of $481-$485 million with a net income of $0.60-$0.65 per share. The market was looking for $148.4 million for the quarter with a net income of $0.30 per share and revenues of $483.2 million for the year with a net income of $0.62 per share.

Alteryx’s Growing Partnership with Adobe

During the quarter, Alteryx announced a partnership with Adobe to provide marketers access to new analytics and data science solutions through Adobe Exchange. Alteryx’s Analytic Process Automation (APA) integrates analytics, data science, and process automation in a self-service platform that makes it easier for marketers to answer any question from Adobe Experience Cloud applications and Adobe Experience Platform.

Alteryx and Adobe already boast of hundreds of joint customers. As part of the recent partnership, it has launched a new Marketing Analytics Starter Kit for Adobe, that offers a ready-to-use, drag-and-drop solution to accelerate reporting, analytics, and data science insights to help increase marketing ROI. Alteryx’s solution will help automate actions and provide deep integration to operational applications, such as experience management, customer relationship management (CRM), human capital management (HCM), and robotic process automation (RPA) systems to drive faster, data-driven business outcomes.

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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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