Shares of Alteryx (AYX -1.30%), a data analytics platform company, spiked today after the company reported fourth-quarter results late yesterday that were better than expected.
The company's earnings and revenue both beat Wall Street's consensus estimates, sending the tech stock up 9.2% as of 11:08 a.m. ET.
Alteryx reported fourth-quarter sales of $173.8 million, up 8% from the year-ago quarter, beating analysts' consensus estimate of $166.1 million for the quarter. The company's adjusted earnings per share of $0.17 also easily outpaced Wall Street's expectation of $0.05.
Investors were clearly happy with the company's financial results today, and there were a few other highlights that they may have been pleased with as well. These include Alteryx achieving a dollar-based net expansion rate (based on annual contract value) of 119% in the fourth quarter, as well as the company's customer count jumping by 12%.
Alteryx also ended the quarter with $638 million in annual recurring revenue (ARR), up 30% year over year, the "largest increase in net new ARR" according to CEO Mark Anderson.
Management issued guidance for the full-year 2022, with sales expected to be in the range of $710 million to $720 million. That would represent a 33% increase from 2021's sales, at the midpoint of guidance.
Even with Alteryx's share price jump today, its stock price is still down about 17% over the past six months. But with the company's strong fourth-quarter results, rising annual recurring revenue, and a growing customer base, long-term investors likely have more to look forward to.