For the third quarter of 2019, Alteryx management had projected revenues in the range of $88 million to $91 million, up 41% to 45% year-over-year. Non-GAAP net income per share is expected to be in the range of $0.06 to $0.09.
READ: Pinterest Q3 earnings preview
ADVERTISEMENT
Analysts have an optimistic view on the stock, with Q3 projections at the higher end of the management range. Wall Street consensus pegs third-quarter earnings at $0.09 per share, on revenues of $90.47 million.
Alteryx operates in a high growth potential data analytics industry and offers unique products that are accessible to both professionals and non-coders as well. The company has been witnessing rapid growth in revenues over the past few years, and most of these funds have been used for international expansion, product upgrades and acquisitions.
Thanks to the increasing demand for self-service analytics solutions, the company has seen robust growth in customer additions, and boasts of an envious clientele among the Global 2000. Recently, the Irvine, California-based company had organized a data analysis event, Inspire US, which has helped reach out to a vast range of prospective clients. These new customer additions could drive results in Q3.
Alteryx ended the second quarter of 2019 with 5,278 customers, a 34% increase from the second quarter of 2018. The company added 305 net new customers in the recently ended quarter.
Listen to on-demand earnings calls and hear how management responds to analysts’ questions