Alteryx Inc. President Paula Hansen is staying bullish about the company’s future, bolstered by a 33% year-over-year jump in two key company revenue measures for the data analytics software maker.
The Irvine-based firm (NYSE: AYX) hopes its valuation—over $10 billion in 2020, but now around $4 billion following the recent market selloff for tech stocks this month—will begin to see a similar boost.
“We are outperforming our peer group, for sure, here in 2022,” Hansen told the Business Journal on May 5, speaking of the company’s gains.
Hansen was promoted to the role of president in February, while also retaining her role as chief revenue officer. She reports directly to Chief Executive Mark Anderson.
“We feel really good about the performance of the first quarter and remain bullish about the quarters ahead as well,” Hansen said.
Alteryx’s software allows data workers to turn huge amounts of information and data into actionable business decisions.
Subscription Gains
During the three months ended March 31, the data analytics software maker recorded a 33% jump in quarterly revenue to $158 million.
Annual recurring revenue—a subscription-grounded measure that Alteryx says gives a truer picture of company growth—was up by the same percentage year-over-year, to $684 million.
Despite the revenue increase, the company’s net loss widened considerably in first quarter to $105.6 million, from $40.7 million in the same period of 2021.
In another positive development, Alteryx also said it had a company record level of Global 2000 penetration at 45%, up roughly 6 points year-over-year, showing further inroads into some of the world’s largest companies.
Alteryx added 259 net new customers in the first quarter of 2022.
Trifacta Gains
Hansen emphasized the importance of the addition of Trifacta, the biggest acquisition in the company’s quarter-century history. Alteryx acquired the San Francisco “data-wrangling” company, whose software makes data analytics faster and more intuitive, in a $475 million deal announced in January.
“That’s a big focus for us right now,” she said.
As for possible further purchases: “We will continue to keep our fingers on the pulse of what’s happening in the market and understanding where there may potentially be opportunities in future,” she said.
Alteryx has opened its new headquarters in Irvine’s Spectrum Terrace. The Customer Experience Center at the site will be officially opened in June. (see related stories, this page and page 1).
Stock Hits
The company’s market capitalization last week was less than half of what it was a little more than two years ago, when Alteryx was by far the most valuable publicly traded software company in Orange County.
As to whether the market cap will go back over $10 billion, Hansen responded that this year’s positive performance is “recognition by the investor community that we do serve a big market, that there’s growth opportunity for our business and that we’re a differentiated leader in the market.”
“We intend to continue that leadership and to become the leading independent platform for analytics automation,” she said.
The company says full-year 2022 revenue may climb to $740 million, which would be an increase of 38% year-over-year.
Hansen is scheduled to be in Denver for the company’s annual Inspire 2022 conference, which is expected to draw several thousand customers and data enthusiasts in person, and about the same number taking part “virtually,” she said.
She said that the company is scheduled to host an investor session as part of Inspire, while some “exciting announcements” will also be made at the conference that lasts from May 16-19.
