Cloud Stocks: Is Alteryx Being Acquired?

According to a Markets and Markets report, the global data science platform market is expected to grow at 30% CAGR to reach $140.9 billion by 2024 from $37.9 billion in 2019. Data science and analytics platform provider Alteryx (NYSE: 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 second quarter, Alteryx’s revenue grew 25% to $120.1 million ahead of the market’s estimates of $112.8 million. GAAP gross profit was $107.1 million, compared to GAAP gross profit of $86.6 million a year ago. Non GAAP net loss was $5.2 million or $0.08 per diluted share, down from non GAAP net income of $1.7 million or $0.02 per diluted share a year ago. The market was looking for a loss per share of $0.25.

Alteryx added 191 net new customers and ended the quarter with 7,405 customers, up 10%. It achieved a dollar-based net expansion rate of 120%. ARR for the quarter grew 27% to $547.6 million.

For the third quarter, Alteryx expects revenues of $121-$124 million with an adjusted net loss of $0.21-$0.18 per share. For the full year 2021, it expects revenue of $520-$530 million with a net loss of $0.26-$0.12 per share. The market was looking for revenues of $113.01 million for the quarter with a net loss of $0.25 per share and revenues of $527.12 million with a net loss of $0.17 for the year.

Alteryx’s Growing Partnerships

Recently, Alteryx announced the expansion of its partnership with PwC. The extension will allow it to combine its analytics and data science automation with PwC’s services and technologies, accelerate transformation in organizations throughout Asia-Pacific, Europe, the Middle East, and Africa regions. Alteryx had entered into a partnership with PwC in February 2020. The recent expansion will add additional geographies to this collaboration, and help drive global growth, innovation, and business outcome.

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Disclosure: All investors should make their own assessments based on their own research, informed interpretations and risk appetite. This article expresses my own opinions based on my own ...

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