What happened
Shares of Alteryx (AYX +0.00%) were up 11.6% as of 11 a.m. EDT Thursday after the data-science and analytics company announced strong first-quarter 2019 results.
More specifically, Alteryx's revenue climbed 51% year over year to $76 million, translating to adjusted (non-GAAP) net income of $3 million, or $0.04 per share. Both the top and bottom lines arrived well above official guidance (provided in late February) for revenue of $69 million to $72 million and an adjusted net loss of $0.08 to $0.13.
IMAGE SOURCE: GETTY IMAGES.
So what
The underlying trends driving Alteryx's business were encouraging; the company increased its number of customers by 35% year over year to 4,973, including 277 new clients in the first quarter. Alteryx also saw the dollar value of its annual contracts expand by 134%, and opened new offices in Japan and Dubai.
Alteryx CEO Dean Stoecker called it a "solid start to 2019," noting the business's global addressable market is expanding as more companies look to leverage their data.
"To address this growing opportunity, we expect to continue to invest to support the needs of the increasingly global Alteryx community," Stoecker added.
Now what
For the second quarter of 2019, Alteryx expects revenue ranging from $74 million to $77 million, good for growth of 44% to 50% year over year, which should translate to an adjusted net loss per share of $0.04 to $0.09.
As such, Alteryx increased its full-year 2019 guidance to call for revenue of $355 million to $360 million, up 40% to 42% from 2018 and a healthy bump over the 37% growth implied by the midpoint of its previous range. That should mean 2019 adjusted net income range of $0.38 to $0.45 per share, up from Alteryx's old outlook for a per-share range of $0.36 to $0.42.
