Alteryx Announces First Quarter 2022 Financial Results

Rhea-AI Summary

Alteryx, Inc. (AYX) reported a 33% increase in first-quarter revenue, reaching $158 million, and a corresponding 33% growth in annual recurring revenue (ARR) to $684 million. The company experienced a GAAP net loss of $(105.6) million, compared to $(40.7) million in Q1 2021. Despite this, Alteryx's customer base grew to 8,195, with a net expansion rate of 119%. The company completed the acquisition of Trifacta Inc. and introduced the Alteryx Analytics Cloud. For Q2 2022, revenue guidance is set between $159 million and $162 million, with full-year revenue expected between $730 million and $740 million.

Positive

• Q1 2022 revenue increased by 33% year-over-year to $158 million.
• Annual recurring revenue (ARR) rose to $684 million, a 33% increase.
• Customer base grew to 8,195, a 14% increase from Q1 2021.
• Dollar-based net expansion rate of 119% for Q1 2022.
• Successful acquisition of Trifacta, enhancing cloud analytics offerings.

Negative

• GAAP net loss increased to $(105.6) million from $(40.7) million YoY.
• GAAP loss from operations increased to $(99.7) million from $(28.8) million YoY.
• Q1 2022 non-GAAP loss from operations was $(29.8) million, worsening from $(1.1) million YoY.
• Cash reserves fell to $598.3 million, down from $1 billion at December 31, 2021.

First Quarter Revenue of $158 million, up 33% Year-Over-Year

Annual Recurring Revenue of $684 million, up 33% Year-Over-Year

IRVINE, Calif., May 3, 2022 /PRNewswire/ -- Alteryx, Inc. (NYSE: AYX), the Analytics Automation company, today announced financial results for its first quarter ended March 31, 2022.

"Alteryx delivered an exceptional quarter with ARR growth accelerating to 33% year-over-year, driven by global demand tailwinds and increased adoption by large enterprise organizations," said Mark Anderson, CEO of Alteryx, Inc. "The company is off to a great start in 2022, with strong financial results, an expanded portfolio of cloud offerings, and the completion of our game changing Trifacta acquisition. We are well-positioned to continue driving democratization of data analytics for all in this massive market opportunity."

First Quarter 2022 Financial Highlights

• Revenue: Revenue for the first quarter of 2022 was $157.9 million, an increase of 33%, compared to revenue of $118.8 million in the first quarter of 2021.

• Gross Profit: GAAP gross profit for the first quarter of 2022 was $133.7 million, or a GAAP gross margin of 85%, compared to GAAP gross profit of $107.9 million, or a GAAP gross margin of 91%, in the first quarter of 2021. Non-GAAP gross profit for the first quarter of 2022 was $139.5 million, or a non-GAAP gross margin of 88%, compared to non-GAAP gross profit of $110.2 million, or a non-GAAP gross margin of 93%, in the first quarter of 2021.

• Loss from Operations: GAAP loss from operations for the first quarter of 2022 was $(99.7) million, compared to GAAP loss from operations of $(28.8) million for the first quarter of 2021. Non-GAAP loss from operations for the first quarter of 2022 was $(29.8) million, compared to non-GAAP loss from operations of $(1.1) million for the first quarter of 2021.

• Net Loss: GAAP net loss attributable to common stockholders for the first quarter of 2022 was $(105.6) million, compared to GAAP net loss attributable to common stockholders of $(40.7) million for the first quarter of 2021. GAAP net loss per diluted share for the first quarter of 2022 was $(1.56), based on 67.8 million GAAP weighted-average diluted shares outstanding, compared to GAAP net loss per diluted share of $(0.61), based on 66.9 million GAAP weighted-average diluted shares outstanding for the first quarter of 2021.
  
  Non-GAAP net loss and non-GAAP net loss per diluted share for the first quarter of 2022 were $(27.3) million and $(0.40), respectively, compared to non-GAAP net loss of $(3.3) million and non-GAAP net loss per diluted share of $(0.05) for the first quarter of 2021. Non-GAAP net loss per diluted share for the first quarter of 2022 was based on 67.8 million non-GAAP weighted-average diluted shares outstanding, compared to 66.9 million non-GAAP weighted-average diluted shares outstanding for the first quarter of 2021.

• Balance Sheet and Cash Flow: As of March 31, 2022, we had cash, cash equivalents, and short-term and long-term investments of $598.3 million, compared to $1.0 billion as of December 31, 2021. This reflects a $389.8 million cash outflow, net of cash acquired, related to the acquisition of Trifacta Inc. Cash provided by operating activities for the first three months of 2022 was $8.8 million, compared to cash provided by operating activities of $26.0 million for the first three months of 2021.

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 2022 and Recent Business Highlights

• Ended the first quarter of 2022 with $683.6 million in annual recurring revenue (ARR), an increase of 33% year-over-year.

• Achieved a dollar-based net expansion rate (annual contract value based) of 119% for the first quarter of 2022.

• Ended the first quarter of 2022 with 8,195 customers, a 14% increase from the first quarter of 2021. Added 259 net new customers in the first quarter of 2022.

• Completed the acquisition of Trifacta Inc., further advancing Alteryx's journey to provide an integrated end-to-end, low code/no code analytics automation platform in the cloud.

• Introduced Alteryx Analytics Cloud, an end-to-end analytics automation platform that incorporates Designer Cloud, Alteryx Machine Learning, Alteryx Auto Insights, and Alteryx Trifacta in one unified platform.

• Announced an updated partner program powering a partner-centric growth strategy built around an ecosystem of solution providers, global system integrators, technology partners, and original equipment manufacturers.

• Strengthened the leadership team with the promotion of Paula Hansen to President and Chief Revenue Officer, as well as the additions of Keith Pearce as Chief Marketing Officer and Lucas Moody as Chief Information Security Officer.

Financial Outlook

We provide the financial guidance below based on current market conditions and expectations. Our guidance is subject to various important cautionary factors described below. Based on information available as of May 3, 2022, guidance for the second quarter of 2022 and full year 2022 is as follows:

• Second Quarter 2022 Guidance:
• Revenue is expected to be in the range of $159 million to $162 million, representing year-over-year growth of 32% to 35%.
• ARR is expected to be in the range of $718 million to $721 million, representing year-over-year growth of 31% to 32%.
• Non-GAAP loss from operations is expected to be in the range of $(50) million to $(47) million. 
• Non-GAAP net loss per share is expected to be in the range of $(0.61) to $(0.58) based on approximately 68.2 million non-GAAP weighted-average basic and diluted shares outstanding.

• Full Year 2022 Guidance:
• Revenue is expected to be in the range of $730 million to $740 million, representing year-over-year growth of 36% to 38%.
• ARR is expected to be in the range of $812 million to $822 million, representing year-over-year growth of 27% to 29%.
• Non-GAAP loss from operations is expected to be in the range of $(40) million to $(30) million.
• Non-GAAP net loss per share is expected to be in the range of $(0.56) to $(0.46) based on approximately 68.3 million non-GAAP weighted-average basic and diluted shares outstanding, and an effective tax rate of 20%.

The financial outlook above for non-GAAP loss from operations and non-GAAP net loss per share excludes estimates for stock-based compensation and related payroll tax expense and acquisition-related adjustments. A reconciliation of the non-GAAP financial guidance measures to corresponding GAAP measures is not available on a forward-looking basis primarily because of the uncertainty regarding, and the potential variability of, stock-based compensation and related payroll tax expense and acquisition-related adjustments. In particular, stock-based compensation and related payroll tax 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 2022 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 10, 2022, at 844-512-2921 (domestic) or 412-317-6671 (international). The replay passcode is 13728428. 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.

Payroll tax expense related to stock-based compensation. We exclude employer payroll tax expense related to stock-based compensation to present the full effect that excluding stock-based compensation expense has on operating results. These expenses are tied to the exercise or vesting of underlying equity awards and the price of our common stock at the time of vesting or exercise, which may vary from period to period independent of the operating performance of the business.

Acquisition-related adjustments. We exclude amortization of intangible assets, which is non-cash and related to business combinations, from certain of our non-GAAP financial measures. In addition, we exclude acquisition and integration expenses, such as transaction costs and costs associated with the applicable retention, restructuring and successful integration of operational activities of the acquired company, as they are related to a business combination and have no direct correlation to the operation of our business.

Convertible senior notes adjustments. Prior to the adoption of Accounting Standards Update 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity's Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity's Own Equity, or ASU 2020-06, effective as of January 1, 2022, we excluded 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 excluded such expenses as they are non-cash and have no direct correlation to the operation of our business. Upon adoption of ASU 2020-06, we removed the equity component of our convertible notes and the associated amortization and therefore, this adjustment is no longer applicable.

Impairment of long-lived assets. We exclude non-cash charges for impairment of long-lived assets from certain of our non-GAAP financial measures. Impairment charges can vary significantly in terms of amount and timing and we do not consider these charges indicative of our current or past operating performance.

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 2022 and 2021. 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 and related payroll tax expense and amortization of intangible assets 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 2022, our ability to execute our long-term growth strategy and transformation efforts, our mission regarding the democratization of data and the related market opportunity, the anticipated benefits of and innovation resulting from our acquisitions, our non-GAAP tax rate for 2022, 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: our ability to manage our growth and the investments made to grow our business effectively; our ability to expand and retain our talent base, particularly our sales force and software engineers, and increase their productivity; risks and uncertainties associated with the COVID-19 pandemic; our ability to develop, release, and gain market acceptance of product and service enhancements and new products and services to respond to rapid technological change in a timely and cost-effective manner; the impact of our Trifacta acquisition; our history of losses; 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; 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. 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 filings with the U.S. Securities and Exchange Commission (SEC), including our Annual Report on Form 10-K for the year ended December 31, 2021, 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, 2022. 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.
Alteryx, the Analytics Automation company, is focused on enabling every person to transform data into a breakthrough. Alteryx unifies analytics, data science and business process automation in one, end-to-end platform to accelerate digital transformation and shape the future of analytics automation. Organizations of all sizes, all over the world, rely on Alteryx to deliver high-impact business outcomes and the rapid upskilling of their modern workforce. For more information visit http://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,
	2022		2021
Revenue:
Subscription-based software license	$            63,089		$            43,358
PCS and services	94,852		75,401
Total revenue	157,941		118,759
Cost of revenue:
Subscription-based software license	2,102		1,249
PCS and services	22,139		9,592
Total cost of revenue	24,241		10,841
Gross profit	133,700		107,918
Operating expenses:
Research and development	50,150		31,322
Sales and marketing	115,610		71,907
General and administrative	59,440		33,500
Impairment of long-lived assets	8,239		—
Total operating expenses	233,439		136,729
Loss from operations	(99,739)		(28,811)
Interest expense	(2,390)		(9,598)
Other expense, net	(1,950)		(1,254)
Loss before provision for income taxes	(104,079)		(39,663)
Provision for income taxes	1,488		993
Net loss	$         (105,567)		$           (40,656)
Net loss per share attributable to common stockholders, basic	$               (1.56)		$               (0.61)
Net loss per share attributable to common stockholders, diluted	$               (1.56)		$               (0.61)
Weighted-average shares used to compute net loss per share attributable to common stockholders, basic	67,826		66,932
Weighted-average shares used to compute net loss per share attributable to common stockholders, diluted	67,826		66,932

 

Alteryx, Inc.
Stock-Based Compensation Expense
(in thousands)
(unaudited)
	Three Months Ended March 31,
	2022		2021
Cost of revenue	$               3,404		$               1,108
Research and development	11,174		6,325
Sales and marketing	15,220		7,045
General and administrative	15,364		9,961
Total	$             45,162		$             24,439

 

Alteryx, Inc.
Condensed Consolidated Balance Sheets
(in thousands)
(unaudited)
	March 31, 2022		December 31, 2021
Assets
Current assets:
Cash and cash equivalents	$               147,138		$               152,375
Short-term investments	311,236		506,874
Accounts receivable, net	77,514		192,318
Prepaid expenses and other current assets	85,658		81,360
Total current assets	621,546		932,927
Property and equipment, net	72,124		71,270
Operating lease right-of-use assets	94,343		102,681
Long-term investments	139,889		343,213
Goodwill	398,921		57,415
Intangible assets, net	70,637		21,737
Other assets	79,228		70,445
Total assets	$            1,476,688		$            1,599,688
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$                 10,921		$                    8,086
Accrued payroll and payroll related liabilities	40,187		61,391
Accrued expenses and other current liabilities	51,369		53,917
Deferred revenue	176,604		208,154
Convertible senior notes, net	84,247		77,400
Total current liabilities	363,328		408,948
Convertible senior notes, net	790,729		686,016
Operating lease liabilities	75,660		78,784
Other liabilities	16,378		23,186
Total liabilities	1,246,095		1,196,934
Stockholders' equity:
Common stock	7		7
Additional paid-in capital	466,318		598,710
Accumulated deficit	(230,227)		(190,429)
Accumulated other comprehensive loss	(5,505)		(5,534)
Total stockholders' equity	230,593		402,754
Total liabilities and stockholders' equity	$            1,476,688		$            1,599,688

 

Alteryx, Inc.
Condensed Consolidated Statements of Cash Flows
(in thousands)
(unaudited)
	Three Months Ended March 31,
	2022		2021
Cash flows from operating activities:
Net loss	$           (105,567)		$            (40,656)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	7,389		3,683
Non-cash operating lease cost	5,152		3,022
Stock-based compensation	45,162		24,439
Amortization (accretion) of discounts and premiums on investments, net	477		1,324
Amortization of debt discount and issuance costs	780		7,992
Deferred income taxes	360		433
Impairment of long-lived assets	8,239		—
Other non-cash operating activities, net	4,649		153
Changes in operating assets and liabilities:
Accounts receivable	120,727		76,680
Deferred commissions	1,281		451
Prepaid expenses and other current assets and other assets	(9,516)		(16,253)
Accounts payable	1,854		761
Accrued payroll and payroll related liabilities	(26,391)		(13,924)
Accrued expenses, other current liabilities, operating lease liabilities, and other liabilities	(7,860)		(8,271)
Deferred revenue	(37,918)		(13,866)
Net cash provided by operating activities	8,818		25,968
Cash flows from investing activities:
Purchases of property and equipment	(9,301)		(5,643)
Cash paid in business acquisition, net of cash acquired	(389,769)		—
Purchases of investments	(38,106)		(144,701)
Sales and maturities of investments	433,190		214,955
Net cash provided by (used in) investing activities	(3,986)		64,611
Cash flows from financing activities:
Proceeds from exercise of stock options and taxes withheld	4,741		5,243
Minimum tax withholding paid on behalf of employees for restricted stock units	(14,126)		(13,071)
Other financing activity	—		—
Net cash used in financing activities	(9,385)		(7,828)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(684)		(207)
Net increase (decrease) in cash, cash equivalents and restricted cash	(5,237)		82,544
Cash, cash equivalents and restricted cash—beginning of period	154,623		173,665
Cash, cash equivalents and restricted cash—end of period	$             149,386		$           256,209

 

Alteryx, Inc.
Reconciliation of GAAP Measures to Non-GAAP Measures
(in thousands, except percentages and per share amounts)
(unaudited)
	Three Months Ended March 31,
	2022		2021
Reconciliation of non-GAAP gross profit:
GAAP gross profit	$           133,700		$          107,918
GAAP gross margin	85 %		91 %
Add back:
Stock-based compensation	3,404		1,108
Payroll tax expense related to stock-based compensation(1)	119		84
Amortization of intangible assets	2,312		1,082
Non-GAAP gross profit	$           139,535		$          110,192
Non-GAAP gross margin	88 %		93 %
Reconciliation of non-GAAP loss from operations:
GAAP loss from operations	$            (99,739)		$           (28,811)
GAAP operating margin	(63) %		(24) %
Add back:
Stock-based compensation	45,162		24,439
Payroll tax expense related to stock-based compensation(1)	2,268		2,159
Amortization of intangible assets	2,407		1,140
Impairment of long-lived assets	8,239		—
Acquisition transaction and integration costs	11,880		—
Non-GAAP loss from operations	$            (29,783)		$             (1,073)
Non-GAAP operating margin	(19) %		(1) %
Reconciliation of non-GAAP net loss:
GAAP net loss attributable to common stockholders	$          (105,567)		$           (40,656)
Add back:
Stock-based compensation	45,162		24,439
Payroll tax expense related to stock-based compensation(1)	2,268		2,159
Amortization of intangible assets	2,407		1,140
Impairment of long-lived assets	8,239		—
Amortization of debt discount and issuance costs(2)	—		7,235
Acquisition transaction and integration costs	11,880		—
Income tax adjustments	8,285		2,363
Non-GAAP net loss	$            (27,326)		$             (3,320)
Non-GAAP loss per diluted share:
Non-GAAP net loss	$            (27,326)		$             (3,320)
Weighted-average shares used to compute net loss per share attributable to common stockholders,  diluted	67,826		66,932
Non-GAAP net loss per diluted share	$                (0.40)		$               (0.05)
Reconciliation of non-GAAP net loss per diluted share:
GAAP net loss per share attributable to common      stockholders, diluted	$                (1.56)		$               (0.61)
Add back:
Non-GAAP adjustments to net loss per share	1.16		0.56
Non-GAAP net loss per diluted share	$                (0.40)		$               (0.05)

(1) Beginning with the quarter ended March 31, 2022, we have excluded payroll tax expense related to stock-based compensation from our non-GAAP financial measures to better present the full effect that excluding stock-based compensation expense has on operating results. Our non-GAAP financial measures for the three months ended March 31, 2021 were recast to conform to the updated methodology for comparison purposes.

(2) See "Non-GAAP Financial Measures and Operating Measures" above and Note 8, Convertible Senior Notes, of the notes to our condensed consolidated financial statements included in our Quarterly Report on Form 10-Q for the three months ended March 31, 2022.

Alteryx, Inc.
Other Business Metrics
(unaudited)

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 certain 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,
		2021		2021		2021		2021		2022
Annual recurring revenue		$   512.7		$   547.6		$   578.6		$   638.0		$   683.6

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,
		2021		2021		2021		2021		2022
Dollar-based net expansion rate		120 %		120 %		119  %		119  %		119  %

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,
		2021		2021		2021		2021		2022
Customers		7,214		7,405		7,689		7,936		8,195

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,
		2021		2021		2021		2021		2022
Remaining performance obligations		$   452.6		$   437.5		$   412.0		$   476.3		$   445.2

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,
		2021		2021		2021		2021		2022
Contract assets		$      74.5		$      85.5		$      88.3		$      42.5		$      53.6

 

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SOURCE Alteryx, Inc.

FAQ

What were Alteryx's Q1 2022 revenue and growth rate?

In Q1 2022, Alteryx reported revenue of $158 million, representing a 33% year-over-year growth.

How much did Alteryx's annual recurring revenue grow in Q1 2022?

Alteryx's annual recurring revenue (ARR) grew to $684 million, an increase of 33% year-over-year.

What is the net loss reported by Alteryx for Q1 2022?

Alteryx reported a GAAP net loss of $(105.6) million for Q1 2022.

What is Alteryx's guidance for Q2 2022 revenue?

Alteryx expects Q2 2022 revenue to be in the range of $159 million to $162 million.

How many customers did Alteryx have at the end of Q1 2022?

Alteryx ended Q1 2022 with 8,195 customers, a 14% increase from the previous year.