IRVINE, Calif., May 4, 2021 /PRNewswire/ -- Alteryx, Inc.
(NYSE: AYX), a leader in analytic process automation
(APA™) that automates analytics, data science and
processes to accelerate business outcomes, today announced
financial results for its first quarter ended March 31, 2021.
"Alteryx is off to a solid start to the year with first quarter
results ahead of expectations as we see our transformation efforts
taking hold," said Mark Anderson,
CEO of Alteryx, Inc. "We are encouraged by industry tailwinds and
are increasing investments in people and infrastructure to deliver
relentless value for our customers."
First Quarter 2021 Financial Highlights
- Revenue: Revenue for the first quarter of 2021 was
$118.8 million, an increase of 9%,
compared to revenue of $108.8 million
in the first quarter of 2020.
- Gross Profit: GAAP gross profit for the first quarter of
2021 was $107.9 million, or a GAAP
gross margin of 91%, compared to GAAP gross profit of $95.8 million, or a GAAP gross margin of 88%, in
the first quarter of 2020. Non-GAAP gross profit for the first
quarter of 2021 was $110.1 million,
or a non-GAAP gross margin of 93%, compared to non-GAAP gross
profit of $99.4 million, or a
non-GAAP gross margin of 91%, in the first quarter of 2020.
- Loss from Operations: GAAP loss from operations for the
first quarter of 2021 was $(28.8)
million, compared to GAAP loss from operations of
$(20.1) million for the first quarter
of 2020. Non-GAAP loss from operations for the first quarter of
2021 was $(3.2) million, compared to
non-GAAP loss from operations of $(3.2)
million for the first quarter of 2020.
- Net Loss: GAAP net loss attributable to common
stockholders for the first quarter of 2021 was $(40.7) million, compared to GAAP net loss
attributable to common stockholders of $(15.5) million for the first quarter of 2020.
GAAP net loss per diluted share for the first quarter of 2021 was
$(0.61), based on 66.9 million GAAP
weighted-average diluted shares outstanding, compared to GAAP net
loss per diluted share of $(0.24),
based on 65.6 million GAAP weighted-average diluted shares
outstanding for the first quarter of 2020.
Non-GAAP net loss and non-GAAP net loss per diluted share for the
first quarter of 2021 were $(5.5)
million and $(0.08),
respectively, compared to non-GAAP net loss of $(6.5) million and non-GAAP net loss per diluted
share of $(0.10) for the first
quarter of 2020. Non-GAAP net loss per diluted share for the first
quarter of 2021 was based on 66.9 million non-GAAP weighted-average
diluted shares outstanding, compared to 65.6 million non-GAAP
weighted-average diluted shares outstanding for the first quarter
of 2020.
- Balance Sheet and Cash Flow: Cash, cash equivalents, and
short-term and long-term investments as of each of March 31, 2021 and December 31, 2020 were $1.0 billion. Cash provided by operating
activities for the first three months of 2021 was $26.0 million, compared to cash provided by
operating activities of $20.0 million
for the first three months of 2020.
A reconciliation of GAAP to non-GAAP financial measures has been
provided in the tables included in this press release. An
explanation of these measures is also included below under the
heading "Non-GAAP Financial Measures and Operating Measures."
First Quarter 2021 and Recent Business Highlights
- Ended the first quarter of 2021 with 7,214 customers, a 12%
increase from the first quarter of 2020. Added 131 net new
customers in the first quarter of 2021.
- Achieved a dollar-based net expansion rate (annual contract
value based) of 120% for the first quarter of 2021.
- Ended the quarter with $512.7
million in annual recurring revenue (ARR), an increase of
27% year-over-year.
- Announced Virtual Global Inspire 2021 from May 18 - May 21, 2021.
- Named one of the ten most innovative companies in data science
by Fast Company.
- Appointed Anjali Joshi to the
Board of Directors.
Financial Outlook
As of May 4, 2021, guidance for the second quarter of 2021
and full year 2021 is as follows:
- Second Quarter 2021 Guidance:
-
- Revenue is expected to be in the range of $111.0 million to $114.0
million.
- Non-GAAP loss from operations is expected to be in the range of
$(22.0) million to $(19.0) million.
- Non-GAAP net loss per share is expected to be in the range of
$(0.27) to $(0.24) based on approximately 68.0 million
non-GAAP weighted-average basic shares outstanding.
- Full Year 2021 Guidance:
-
- Revenue is expected to be in the range of $565.0 million to $575.0
million.
- ARR is expected to be approximately $635.0 million as of December 31, 2021.
- Non-GAAP income (loss) from operations is expected to be in the
range of $(5.0) million to
$5.0 million.
- Non-GAAP net income (loss) per share is expected to be in the
range of $(0.07) to $0.07 based on approximately 68.5 million and
72.0 million non-GAAP weighted-average diluted shares outstanding,
respectively, and an effective tax rate of 20%.
The financial outlook above for non-GAAP income (loss) from
operations and non-GAAP net income (loss) per share excludes
estimates for stock-based compensation expense, acquisition-related
adjustments, and amortization of debt discount and issuance costs.
A reconciliation of the non-GAAP financial guidance measures to
corresponding GAAP measures is not available on a forward-looking
basis primarily as a result of the uncertainty regarding, and the
potential variability of, stock-based compensation expense,
acquisition-related adjustments, and amortization of debt discount
and issuance costs. In particular, stock-based compensation expense
is impacted by our future hiring and retention needs, as well as
the future fair market value of our Class A common stock, all
of which is not within our control, is difficult to predict, and is
subject to constant change. The actual amount of these expenses
during 2021 will have a significant impact on our future GAAP
financial results. Accordingly, a reconciliation of the non-GAAP
financial guidance measures to the corresponding GAAP measures is
not available without unreasonable effort.
Quarterly Conference Call
Alteryx will host a conference call today at 5:00 p.m. Eastern Time to discuss the company's
financial results and financial guidance. To access this call, dial
877-407-9716 (domestic) or 201-493-6779 (international). A live
webcast of this conference call will be available on the
"Investors" page of the company's website at
https://investor.alteryx.com.
Following the conference call, a telephone replay will be
available through May 11, 2021, at
844-512-2921 (domestic) or 412-317-6671 (international). The replay
passcode is 13718364. An archived webcast of this conference call
will also be available on the "Investors" page of the company's
website at https://investor.alteryx.com.
Non-GAAP Financial Measures and Operating Measures
Non-GAAP Financial Measures. To supplement our
condensed consolidated financial statements, which are prepared and
presented in accordance with GAAP, we use the following non-GAAP
financial measures: non-GAAP gross profit, non-GAAP gross margin,
non-GAAP income (loss) from operations, non-GAAP net income (loss),
non-GAAP net income (loss) per diluted share, and non-GAAP
weighted-average diluted shares outstanding. The presentation of
these financial measures is not intended to be considered in
isolation or as a substitute for, or superior to, financial
information prepared and presented in accordance with GAAP.
We use non-GAAP measures to internally evaluate and analyze
financial results. We believe these non-GAAP financial measures
provide investors with useful supplemental information about the
financial performance of our business, enable comparison of
financial results between periods where certain items may vary
independent of business performance, and enable comparison of our
financial results with other public companies, many of which
present similar non-GAAP financial measures. We exclude the
following items from one or more of our non-GAAP financial
measures:
Stock-based compensation expense. We exclude stock-based
compensation expense, which is a non-cash expense, from certain of
our non-GAAP financial measures because we believe that excluding
this item provides meaningful supplemental information regarding
operational performance. In particular, companies calculate
stock-based compensation expense using a variety of valuation
methodologies and subjective assumptions.
Acquisition-related adjustments. We exclude amortization
and impairment of intangible assets and changes in fair value of
contingent consideration which are non-cash and related to business
combinations, from certain of our non-GAAP financial
measures. We exclude such expenses as they are related to a
business combination and have no direct correlation to the
operation of our business.
Convertible senior notes adjustments. We exclude the
portion of amortization of debt discount and issuance costs that
relate to the equity component of our convertible notes, which are
non-cash, from certain of our non-GAAP financial measures. We
exclude such expenses as they are non-cash and have no direct
correlation to the operation of our business.
Income tax adjustments. We utilize a fixed annual
projected long-term non-GAAP tax rate in order to provide better
consistency across reporting periods by eliminating the effects of
items such as changes in the tax valuation allowance, excess tax
benefits associated with stock options, and tax effects of
acquisition-related costs, since each of these can vary in size and
frequency. When projecting this rate, we exclude the direct impact
of the following non-cash items: stock-based compensation expenses,
amortization and impairment of purchased intangibles, and the
amortization of debt discount and issuance costs. The projected
rate also assumes no new acquisitions, and considers other factors
including our expected tax structure, our tax positions in various
jurisdictions and key legislation in major jurisdictions where we
operate. We used a projected non-GAAP tax rate of 20% for both 2021
and 2020. The non-GAAP tax rate could be subject to change for a
variety of reasons, including the rapidly evolving global tax
environment, significant changes in our geographic earnings mix
including due to acquisition activity, or other changes to our
strategy or business operations. We will re-evaluate our long-term
rate as appropriate.
Investors are cautioned that there are material limitations
associated with the use of non-GAAP financial measures as an
analytical tool. In particular, we exclude stock-based compensation
expense, amortization of intangible assets, and amortization of
debt discount and issuance costs which are recurring and will be
reflected in our financial results for the foreseeable future. The
non-GAAP measures we use may be different from non-GAAP financial
measures used by other companies, limiting their usefulness for
comparison purposes. We compensate for these limitations by
providing specific information regarding the GAAP items excluded
from these non-GAAP financial measures.
Annual Recurring Revenue (ARR). Annual recurring revenue,
or ARR, represents the total annual contract value for active
customer subscription contracts as of the measurement date. We also
use ARR as one of our operating measures to assess the health and
trajectory of our business. ARR should be viewed independently of
revenue and deferred revenue as ARR is a performance metric and is
not intended to be a substitute for, or combined with, any of these
items.
Forward-Looking Statements
This press release contains
forward-looking statements that involve risks and uncertainties,
including statements regarding our guidance for the second quarter
and full year 2021, our ability to assist our customers with their
digital transformation efforts, our ability to scale and innovate
on our product and operations, our ability to execute our long-term
growth strategy and transformation efforts, our ability to
capitalize on industry trends, our non-GAAP tax rate for 2021, and
other future events. These forward-looking statements are only
predictions and may differ materially from actual results due to a
variety of factors including, but not limited to: risks and
uncertainties associated with the COVID-19 pandemic; our ability to
manage our growth and the investments made to grow our business
effectively; our history of losses; our ability to retain and
expand our talent base, particularly our sales force and software
engineers, and increase their productivity; our dependence on our
software platform for substantially all of our revenue; our ability
to attract new customers and retain and expand sales to existing
customers; our ability to develop and release product and service
enhancements and new products and services to respond to rapid
technological change in a timely and cost-effective manner; intense
and increasing competition in our market; the rate of growth in the
market for analytics products and services; our ability to
establish and maintain successful relationships with our channel
partners; our dependence on technology and data licensed to us by
third parties; risks associated with our international operations;
our ability to develop, maintain, and enhance our brand and
reputation cost-effectively; litigation and related costs; security
breaches; and other general market, political, economic, and
business conditions. Additionally, these forward-looking
statements, particularly our guidance, involve risk, uncertainties
and assumptions, including those related to the impact of the
COVID-19 pandemic on our business and global economic conditions.
Many of these assumptions relate to matters that are beyond our
control and changing rapidly, including, but not limited to, the
timeframes for and severity of the impact of the COVID-19 pandemic
on our customers' purchasing decisions and the length of our sales
cycles, particularly for customers in certain industries highly
affected by the COVID-19 pandemic.
Additional risks and uncertainties that could affect our
financial results are included under the caption "Risk Factors" in
our SEC filings, including our Annual Report on Form 10-K for the
year ended December 31, 2020, which
are available on the "Investors" page of our website at
https://investor.alteryx.com and on the SEC website at
http://www.sec.gov. Additional information will also be set forth
in our Quarterly Report on Form 10-Q for the quarter ended
March 31, 2021. All forward-looking
statements contained herein are based on information available to
us as of the date hereof and we do not assume any obligation to
update these statements as a result of new information or future
events.
About Alteryx, Inc.
As a leader in analytic process
automation (APA™), Alteryx unifies analytics, data
science and business process automation in one, end-to-end platform
to accelerate digital transformation. Organizations of all sizes,
all over the world, rely on the Alteryx Analytic Process Automation
Platform to deliver high-impact business outcomes and the rapid
upskilling of their modern workforce. For more information visit
www.alteryx.com.
Alteryx is a registered trademark of Alteryx, Inc. All other
product and brand names may be trademarks or registered trademarks
of their respective owners.
Alteryx,
Inc.
|
Condensed
Consolidated Statements of Operations
|
(in thousands,
except per share data)
|
(unaudited)
|
|
|
Three Months Ended
March 31,
|
|
2021
|
|
2020
|
Revenue:
|
|
|
|
Subscription-based
software license
|
$
|
43,358
|
|
|
$
|
50,744
|
|
PCS and
services
|
75,401
|
|
|
58,087
|
|
Total
revenue
|
118,759
|
|
|
108,831
|
|
Cost of
revenue:
|
|
|
|
Subscription-based
software license
|
1,249
|
|
|
1,981
|
|
PCS and
services
|
9,592
|
|
|
11,066
|
|
Total cost of
revenue
|
10,841
|
|
|
13,047
|
|
Gross
profit
|
107,918
|
|
|
95,784
|
|
Operating
expenses:
|
|
|
|
Research and
development
|
31,322
|
|
|
26,181
|
|
Sales and
marketing
|
71,907
|
|
|
65,165
|
|
General and
administrative
|
33,500
|
|
|
24,543
|
|
Total operating
expenses
|
136,729
|
|
|
115,889
|
|
Loss from
operations
|
(28,811)
|
|
|
(20,105)
|
|
Interest
expense
|
(9,598)
|
|
|
(9,303)
|
|
Other expense,
net
|
(1,254)
|
|
|
(2,462)
|
|
Loss before provision
for (benefit of) income taxes
|
(39,663)
|
|
|
(31,870)
|
|
Provision for
(benefit of) income taxes
|
993
|
|
|
(16,397)
|
|
Net loss
|
$
|
(40,656)
|
|
|
$
|
(15,473)
|
|
Net loss per share
attributable to common stockholders, basic
|
$
|
(0.61)
|
|
|
$
|
(0.24)
|
|
Net loss per share
attributable to common stockholders, diluted
|
$
|
(0.61)
|
|
|
$
|
(0.24)
|
|
Weighted-average
shares used to compute net loss per share attributable to common
stockholders, basic
|
66,932
|
|
|
65,569
|
|
Weighted-average
shares used to compute net loss per share attributable to common
stockholders, diluted
|
66,932
|
|
|
65,569
|
|
Alteryx,
Inc.
|
Stock-Based
Compensation Expense
|
(in
thousands)
|
(unaudited)
|
|
|
Three Months Ended
March 31,
|
|
2021
|
|
2020
|
Cost of
revenue
|
$
|
1,108
|
|
|
$
|
436
|
|
Research and
development
|
6,325
|
|
|
3,627
|
|
Sales and
marketing
|
7,045
|
|
|
5,149
|
|
General and
administrative
|
9,961
|
|
|
4,452
|
|
Total
|
$
|
24,439
|
|
|
$
|
13,664
|
|
Alteryx,
Inc.
|
Condensed
Consolidated Balance Sheets
|
(in
thousands)
|
(unaudited)
|
|
|
March 31,
2021
|
|
December 31,
2020
|
Assets
|
|
|
|
Current
assets:
|
|
|
|
Cash and cash
equivalents
|
$
|
253,760
|
|
|
$
|
171,891
|
|
Short-term
investments
|
585,737
|
|
|
584,445
|
|
Accounts receivable,
net
|
60,502
|
|
|
136,985
|
|
Prepaid expenses and
other current assets
|
87,725
|
|
|
79,144
|
|
Total current
assets
|
987,724
|
|
|
972,465
|
|
Property and
equipment, net
|
43,914
|
|
|
40,645
|
|
Operating lease
right-of-use assets
|
61,988
|
|
|
62,508
|
|
Long-term
investments
|
192,330
|
|
|
265,800
|
|
Goodwill
|
37,040
|
|
|
37,070
|
|
Intangible assets,
net
|
15,046
|
|
|
16,191
|
|
Other
assets
|
77,705
|
|
|
70,616
|
|
Total
assets
|
$
|
1,415,747
|
|
|
$
|
1,465,295
|
|
Liabilities and
Stockholders' Equity
|
|
|
|
Current
liabilities:
|
|
|
|
Accounts
payable
|
$
|
5,950
|
|
|
$
|
5,340
|
|
Accrued payroll and
payroll related liabilities
|
32,519
|
|
|
46,569
|
|
Accrued expenses and
other current liabilities
|
31,642
|
|
|
34,987
|
|
Deferred
revenue
|
95,260
|
|
|
108,664
|
|
Convertible senior
notes, net
|
73,762
|
|
|
72,619
|
|
Total current
liabilities
|
239,133
|
|
|
268,179
|
|
Convertible senior
notes, net
|
664,350
|
|
|
657,501
|
|
Deferred
revenue
|
3,354
|
|
|
3,806
|
|
Operating lease
liabilities
|
52,277
|
|
|
53,860
|
|
Other
liabilities
|
5,147
|
|
|
5,158
|
|
Total
liabilities
|
964,261
|
|
|
988,504
|
|
Stockholders'
equity:
|
|
|
|
Common
stock
|
7
|
|
|
7
|
|
Additional paid-in
capital
|
505,636
|
|
|
489,025
|
|
Accumulated
deficit
|
(51,404)
|
|
|
(10,748)
|
|
Accumulated other
comprehensive loss
|
(2,753)
|
|
|
(1,493)
|
|
Total stockholders'
equity
|
451,486
|
|
|
476,791
|
|
Total liabilities and
stockholders' equity
|
$
|
1,415,747
|
|
|
$
|
1,465,295
|
|
Alteryx,
Inc.
|
Condensed
Consolidated Statements of Cash Flows
|
(in
thousands)
|
(unaudited)
|
|
|
Three Months Ended
March 31,
|
|
2021
|
|
2020
|
Cash flows from
operating activities:
|
|
|
|
Net loss
|
$
|
(40,656)
|
|
|
$
|
(15,473)
|
|
Adjustments to
reconcile net loss to net cash provided by operating
activities:
|
|
|
|
Depreciation and
amortization
|
3,683
|
|
|
2,760
|
|
Non-cash operating
lease cost
|
3,022
|
|
|
1,757
|
|
Stock-based
compensation
|
24,439
|
|
|
13,664
|
|
Amortization
(accretion) of discounts and premiums on investments,
net
|
1,324
|
|
|
(606)
|
|
Amortization of debt
discount and issuance costs
|
7,992
|
|
|
7,675
|
|
Deferred income
taxes
|
433
|
|
|
(16,628)
|
|
Other non-cash
operating activities, net
|
153
|
|
|
7,509
|
|
Changes in operating
assets and liabilities:
|
|
|
|
Accounts
receivable
|
76,680
|
|
|
74,901
|
|
Deferred
commissions
|
451
|
|
|
461
|
|
Prepaid expenses and
other current assets and other assets
|
(16,253)
|
|
|
(20,371)
|
|
Accounts
payable
|
761
|
|
|
4,285
|
|
Accrued payroll and
payroll related liabilities
|
(13,924)
|
|
|
(29,690)
|
|
Accrued expenses,
other current liabilities, operating lease liabilities, and other
liabilities
|
(8,271)
|
|
|
(4,919)
|
|
Deferred
revenue
|
(13,866)
|
|
|
(5,350)
|
|
Net cash provided by
operating activities
|
25,968
|
|
|
19,975
|
|
Cash flows from
investing activities:
|
|
|
|
Purchases of property
and equipment
|
(5,643)
|
|
|
(4,976)
|
|
Purchases of
investments
|
(144,701)
|
|
|
(313,611)
|
|
Sales and maturities
of investments
|
214,955
|
|
|
116,691
|
|
Net cash provided by
(used in) investing activities
|
64,611
|
|
|
(201,896)
|
|
Cash flows from
financing activities:
|
|
|
|
Proceeds from exercise
of stock options and taxes withheld
|
5,243
|
|
|
11,600
|
|
Minimum tax
withholding paid on behalf of employees for restricted stock
units
|
(13,071)
|
|
|
(9,945)
|
|
Other financing
activity
|
—
|
|
|
(433)
|
|
Net cash provided by
(used in) financing activities
|
(7,828)
|
|
|
1,222
|
|
Effect of exchange
rate changes on cash, cash equivalents and restricted
cash
|
(207)
|
|
|
(1,228)
|
|
Net increase
(decrease) in cash, cash equivalents and restricted cash
|
82,544
|
|
|
(181,927)
|
|
Cash, cash
equivalents and restricted cash—beginning of period
|
173,665
|
|
|
411,424
|
|
Cash, cash
equivalents and restricted cash—end of period
|
$
|
256,209
|
|
|
$
|
229,497
|
|
Alteryx,
Inc.
|
Reconciliation of
GAAP Measures to Non-GAAP Measures
|
(in thousands,
except percentages and per share amounts)
|
(unaudited)
|
|
|
Three Months Ended
March 31,
|
|
2021
|
|
2020
|
Reconciliation of
non-GAAP gross profit:
|
|
|
|
GAAP gross
profit
|
$
|
107,918
|
|
|
$
|
95,784
|
|
GAAP gross
margin
|
91
|
%
|
|
88
|
%
|
Add
back:
|
|
|
|
Stock-based
compensation expense
|
1,108
|
|
|
436
|
|
Amortization of
intangible assets
|
1,082
|
|
|
1,118
|
|
Impairment of
intangible assets
|
—
|
|
|
2,025
|
|
Non-GAAP gross
profit
|
$
|
110,108
|
|
|
$
|
99,363
|
|
Non-GAAP gross
margin
|
93
|
%
|
|
91
|
%
|
Reconciliation of
non-GAAP loss from operations:
|
|
|
|
GAAP loss from
operations
|
$
|
(28,811)
|
|
|
$
|
(20,105)
|
|
GAAP operating
margin
|
(24)
|
%
|
|
(18)
|
%
|
Add
back:
|
|
|
|
Stock-based
compensation expense
|
24,439
|
|
|
13,664
|
|
Amortization of
intangible assets
|
1,140
|
|
|
1,168
|
|
Impairment of
intangible assets
|
—
|
|
|
2,025
|
|
Non-GAAP loss from
operations
|
$
|
(3,232)
|
|
|
$
|
(3,248)
|
|
Non-GAAP operating
margin
|
(3)
|
%
|
|
(3)
|
%
|
Reconciliation of
non-GAAP net loss:
|
|
|
|
GAAP net loss
attributable to common stockholders
|
$
|
(40,656)
|
|
|
$
|
(15,473)
|
|
Add
back:
|
|
|
|
Stock-based
compensation expense
|
24,439
|
|
|
13,664
|
|
Amortization of
intangible assets
|
1,140
|
|
|
1,168
|
|
Impairment of
intangible assets
|
—
|
|
|
2,025
|
|
Amortization of debt
discount and issuance costs
|
7,235
|
|
|
6,947
|
|
Income tax
adjustments
|
2,363
|
|
|
(14,784)
|
|
Non-GAAP net
loss
|
$
|
(5,479)
|
|
|
$
|
(6,453)
|
|
Non-GAAP loss per
diluted share:
|
|
|
|
Non-GAAP net
loss
|
$
|
(5,479)
|
|
|
$
|
(6,453)
|
|
Weighted-average
shares used to compute net loss per share attributable to common stockholders,
diluted
|
66,932
|
|
|
65,569
|
|
Non-GAAP net loss per
diluted share
|
$
|
(0.08)
|
|
|
$
|
(0.10)
|
|
Reconciliation of
non-GAAP net loss per diluted share:
|
|
|
|
GAAP net loss per
share attributable to common stockholders, diluted
|
$
|
(0.61)
|
|
|
$
|
(0.24)
|
|
Add
back:
|
|
|
|
Non-GAAP adjustments
to net loss per share
|
0.53
|
|
|
0.14
|
|
Non-GAAP net loss per
diluted share
|
$
|
(0.08)
|
|
|
$
|
(0.10)
|
|
Alteryx, Inc.
Other Business
Metrics
(unaudited)
Number of Customers. We define a customer at
the end of any particular period as an entity with a subscription
agreement that runs through the current or future period as of the
measurement date. Organizations with free trials have not
entered into a subscription agreement and are not considered
customers. A single organization with separate subsidiaries,
segments, or divisions that use our platform may represent multiple
customers, as we treat each entity that is invoiced separately as a
single customer. In cases where customers subscribe to our
platform through our channel partners, each end customer is counted
separately.
|
|
Mar.
31,
|
|
Jun. 30,
|
|
Sep. 30,
|
|
Dec. 31,
|
|
Mar.
31,
|
|
|
2020
|
|
2020
|
|
2020
|
|
2020
|
|
2021
|
Customers
|
|
6,443
|
|
|
6,714
|
|
|
6,955
|
|
7,083
|
|
7,214
|
Dollar-Based Net Expansion Rate. Our
dollar-based net expansion rate is a trailing four-quarter average
of the annual contract value, or ACV, which is defined as the
subscription revenue that we would contractually expect to
recognize over the term of the contract divided by the term of the
contract, in years, from a cohort of customers in a quarter as
compared to the same quarter in the prior year. To calculate our
dollar-based net expansion rate, we first identify a cohort of
customers, or the Base Customers, in a particular quarter, or the
Base Quarter. A customer will not be considered a Base Customer
unless such customer has an active subscription on the last day of
the Base Quarter. We then divide the ACV in the same quarter of the
subsequent year attributable to the Base Customers, or the
Comparison Quarter, including Base Customers from which we no
longer derive ACV in the Comparison Quarter, by the ACV
attributable to those Base Customers in the Base Quarter. Our
dollar-based net expansion rate in a particular quarter is then
obtained by averaging the result from that particular quarter with
the corresponding result from each of the prior three quarters. The
dollar-based net expansion rate excludes contract value relating to
professional services from that cohort.
|
|
Mar.
31,
|
|
Jun. 30,
|
|
Sep. 30,
|
|
Dec. 31,
|
|
Mar.
31,
|
|
|
2020
|
|
2020
|
|
2020
|
|
2020
|
|
2021
|
Dollar-based net
expansion rate
|
|
128
|
%
|
|
126
|
%
|
|
124
|
%
|
|
122
|
%
|
|
120
|
%
|
Annual Recurring Revenue (ARR). ARR represents the
annualized recurring value of all active subscription contracts at
the end of a reporting period and excludes the value of
non-recurring revenue streams, such as professional services. Both
multi-year contracts and contracts with terms less than one year
are annualized by dividing the total committed contract value by
the number of months in the subscription term and then multiplying
by twelve (in millions).
|
|
Mar.
31,
|
|
Jun. 30,
|
|
Sep. 30,
|
|
Dec. 31,
|
|
Mar.
31,
|
|
|
2020
|
|
2020
|
|
2020
|
|
2020
|
|
2021
|
Annual recurring
revenue
|
|
$
|
404.9
|
|
|
$
|
432.3
|
|
|
$
|
449.5
|
|
|
$
|
492.6
|
|
|
$
|
512.7
|
|
Remaining Performance Obligations. Remaining
performance obligations represent amounts from contracts with
customers allocated to unsatisfied or partially unsatisfied
performance obligations that are not yet recorded in revenue in our
condensed consolidated statements of operations (in millions).
|
|
Mar.
31,
|
|
Jun. 30,
|
|
Sep. 30,
|
|
Dec. 31,
|
|
Mar.
31,
|
|
|
2020
|
|
2020
|
|
2020
|
|
2020
|
|
2021
|
Remaining performance
obligations
|
|
$
|
400.4
|
|
|
$
|
410.0
|
|
|
$
|
402.7
|
|
|
$
|
484.3
|
|
|
$
|
452.6
|
|
Contract Assets. Contract assets primarily
relate to unbilled amounts for contracts with customers for which
the amount of revenue recognized exceeds the amount billed to the
customer. Contract assets are transferred to accounts receivable
when the right to invoice becomes unconditional in our condensed
consolidated balance sheets (in millions).
|
|
Mar.
31,
|
|
Jun. 30,
|
|
Sep. 30,
|
|
Dec. 31,
|
|
Mar.
31,
|
|
|
2020
|
|
2020
|
|
2020
|
|
2020
|
|
2021
|
Contract
assets
|
|
$
|
75.8
|
|
|
$
|
82.1
|
|
|
$
|
95.0
|
|
|
$
|
62.6
|
|
|
$
|
74.5
|
|
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SOURCE Alteryx, Inc.