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Sunday, Oct 2, 2022

Alteryx Up

Shares in analytics software maker Alteryx Inc. rose on its quarterly report, which included higher sales that beat expectations.

The Irvine-based company posted sales of $46.8 million, up 54% from the same period a year ago and topping analyst forecasts on Yahoo Finance of $43.6 million.

It recorded a net loss of $5.5 million, deeper than analyst targets of $286,000.

The company ended the second quarter with 3,940 customers, up 40% from year-over-year.

Alteryx’ customers pay a subscription fee for its analytics software to integrate data, monetize content, forecast sales, map out retail expansion plans, and compare sales and product placement, among other features.

The company also said cofounder and Chief Technology Officer Ned Harding has relinquished his position and will serve as an advisor to the board and executive management through 2019.

Derek Knudsen will replace him as CTO on Aug. 13, to oversee software engineering, engineering operations and information technology.

The board also promoted Chief Revenue Officer Scott Jones, who joined Alteryx last year, to president, responsible for all go-to-market activities, including marketing.

The software maker provided revenue guidance for the current quarter above expectations and operating income in line with targets.

It projects revenue of $49 million to $50 million this quarter, above the analyst consensus of $46.7 million.

It projects an operating loss of $0.04 to $0.06 per share, or in the range of $2.5 million to $3.5 million.

Alteryx shares are up 17% to a market cap of nearly $3.4 billion in recent trading.


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