What happened

Shares of data analytics software company Alteryx (NYSE:AYX) jumped 20.2% in August, according to data from S&P Global Market Intelligence. For context, the S&P 500, including dividends, fell 1.6% last month.

If the name Alteryx doesn't ring a bell with you, that's probably in part because the Irvine, California-based company has only been public since March 2017. It will surely be coming across the radar of more investors, however, given its stock is one of the top-performing tech stocks of 2019. Shares are up 139% so far this year (through Sept. 6) versus the broader market's 20.5% return.

4 screens showing various data analyses.

Image source: Getty Images.

So what

We can attribute Alteryx stock's strong performance last month largely to the company's July 31 release of second-quarter results that crushed Wall Street's adjusted earnings estimate. Shares popped 11.9% the following day, kicking off August with a bang. 

In Q2, Alteryx's revenue soared 59% year over year to $82.0 million. Revenue growth was driven by a 34% increase in customers to 5,278 customers at the end of the quarter and a net expansion rate (annual contract value) of 133%.

As is typical for a relatively new public company, Alteryx isn't profitable on the basis of GAAP (generally accepted accounting principles). However, it is in the black from a non-GAAP, or adjusted, standpoint. It posted a GAAP net loss of $3.2 million, or $0.05 per share, an improvement from a net loss of $4.2 million, or $0.07 per share in the year-ago period. Its adjusted net income came in at $0.9 million, or $0.01 per share, up from breakeven results in the second quarter of last year, and easily beating the analyst consensus estimate of a $0.06 loss-per-share. 

Now what

Alteryx's management raised the full-year 2019 revenue outlook to $370 million to $375 million, up from the previous forecast of $355 million to $360 million, and representing an increase of 47% year over year at the midpoint.

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