Revenues surged 43.2% year over year to $108.8 million and also surpassed the consensus mark by 2.9%.
Alteryx witnessed an abrupt and a significant change in customers’ buying behavior in March due to the coronavirus-triggered rapidly-changing macroeconomic conditions and implementation of shelter-in-place guidelines.
Expansion rates declined in the worst-hit sectors like travel and hospitality, and manufacturing and retail. Alteryx also witnessed a moderately increased churn-rate in Europe.
Alteryx withdrew its previously-provided 2020 guidance due to the macroeconomic uncertainty related to the coronavirus.
Alteryx ended the first quarter with 6,443 customers, up 29.6% year over year. The company added 356 net customers including 12 of the Global 2000 in the reported quarter.
Notably, top 10 telecommunications companies in the United States are Alteryx’s customers.
Moreover, the dollar-based net expansion rate (annual contract value based) was 128%, down from 134% achieved in the year-ago quarter.
Alteryx booked approximately $107 million in total contract value, up 53% year over year.
At the end of the quarter, Alteryx’s annual recurring revenue (ARR) was more than $400 million. The company generates one-third of ARR from 731 Global 2000 customers.
Moreover, a roughly 25% of ARR is generated from the hard-hit sectors like travel and hospitality, and manufacturing and retail. Further, 6% of ARR is from small to medium-sized businesses (SMBs) within these highly impacted verticals.......
Non-GAAP operating loss was $3.2 million against the year-ago quarter’s operating income of $1.4 million.....Guidance For second-quarter 2020, revenues are expected between $91 million and $95 million, indicating a 10-15% rise from the year-ago reported figure....