Highlights (see image above):
- Revenue - $90.7 million, up 82% year over year (market expected $89.6 million)
- License - $60.4 million, up 80% year over year
- Losses - $4.6 million, up 78% year over year
- Deals north of $100,000 - 157 in the quarter
- Customer adds - 2,200, representing 11% of total customer count at 22,000
- Full year guidance - $366-372 million (market expected $353.2 million)
These are outstanding results by any measure and it should come as no surprise that Tableau's stock popped three percent in after hours trading.
During the analyst call, Tableau noted the launch of Tableau 8.2, with support for Mac, and the recently launched Story Points. The company sees these as longer term revenue drivers since Tableau doesn't charge for upgrades separate to maintenance. The company also confirmed that its 'land and expand' strategy continues to work. This is a theme recently reflected by Alteryx at its customer event.
The company is expanding its international operations with an emphasis on its London, UK center. Christian Chabot, CEO plans to decamp to the UK for a year. "It's about the bigger process of market opportunity...it will be a temporary thing."
On the question of expanding subscription revenue in light of TIBCOs pivot around its Spotfire solution, "I don't know what time frame that would be...history hasn't been compelling to date but we're open to SaaS and subscription." Today, Tablaeu primarily sells an on-premises solution where subscriptions only account for 10% of total revenue.
Talking more generally about what customers are doing and why they are switching allowed Chabot to move into pitch mode. He said: "Customers are moving away from stacks and stacks of static reports that only answer one question, and moving their workforce over to live interactive visual windows that answer any number of questions. You enable a whole new world of better thinking and decision making."
Based upon what I have seen in the market place most recently, that is a powerful value proposition. I will be talking more to this theme in an upcoming piece covering Tableau's activity in the healthcare market via Stanley Healthcare.