Alteryx’s fourth-quarter 2020 non-GAAP earnings of 62 cents per share beat the Zacks Consensus Estimate by 113.8% but were down 3.1% year over year.
Revenues increased 2.6% year over year to $160.5 million and also surpassed the consensus mark by 2.5%.
Quarter Details
Alteryx ended the fourth quarter with 7,083 customers, up 16.4% year over year. Moreover, the dollar-based net expansion rate (annual contract-value based) was 122%, down from 130% achieved in the year-ago quarter.
At the end of the quarter, Alteryx’s annual recurring revenue (“ARR”) was more than $492.6 million, up 32.1% year over year.
Non-GAAP gross profit increased 4% year over year to $151.7 million. Moreover, gross margin expanded 130 basis points (bps) year over year to 94.5%.
Research & development (R&D), sales & marketing (S&M), and general & administrative (G&A) expenses jumped 42%, 20.2% and 40.8%, respectively.
R&D, S&M and G&A expenses, as a percentage of revenues, soared 400 bps, 530 bps and 390 bps on a year-over-year basis to 14.5%, 36.1% and 14.4%, respectively.
Balance Sheet
As of Dec 31, 2020, cash, cash equivalents, and short-term and long-term investments were worth $756.3 million compared with $723.2 million as of Sep 30, 2020.
Remaining performance obligations were $484.3 million, up 19% year over year.
Guidance
For first-quarter fiscal 2021, revenues are expected between $104 million and $107 million. Non-GAAP loss from operations is expected between $18 million and $21 million.
Non-GAAP loss is anticipated between 22 cents and 25 cents per share in the first quarter.
For fiscal 2021, Alteryx now expects revenues between $555 million and $565 million. Non-GAAP income (loss) from operations is expected between ($5) million and $5 million.
Non-GAAP net income (loss) is expected to be in the range of $(0.07) to $0.07 per share.
ARR is expected to be roughly $625 million as of Dec 31, 2020.
Zacks Rank & Stocks to Consider
Alteryx currently has a Zacks Rank #4 (Sell).
Better-ranked stocks in the broader technology sector are Baidu (BIDU - Free Report) , CEVA (CEVA - Free Report) and CrowdStrike Holdings (CRWD - Free Report) . While Baidu sports a Zacks Rank #1 (Strong Buy), both CEVA and CrowdStrike carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
CEVA and Baidu are set to report their quarterly results on Feb 16 and 17, respectively. CrowdStrike is set to report the same on Mar 16.
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Alteryx’s fourth-quarter 2020 non-GAAP earnings of 62 cents per share beat the Zacks Consensus Estimate by 113.8% but were down 3.1% year over year.
Revenues increased 2.6% year over year to $160.5 million and also surpassed the consensus mark by 2.5%.
Quarter Details
Alteryx ended the fourth quarter with 7,083 customers, up 16.4% year over year. Moreover, the dollar-based net expansion rate (annual contract-value based) was 122%, down from 130% achieved in the year-ago quarter.
At the end of the quarter, Alteryx’s annual recurring revenue (“ARR”) was more than $492.6 million, up 32.1% year over year.
Non-GAAP gross profit increased 4% year over year to $151.7 million. Moreover, gross margin expanded 130 basis points (bps) year over year to 94.5%.
Research & development (R&D), sales & marketing (S&M), and general & administrative (G&A) expenses jumped 42%, 20.2% and 40.8%, respectively.
R&D, S&M and G&A expenses, as a percentage of revenues, soared 400 bps, 530 bps and 390 bps on a year-over-year basis to 14.5%, 36.1% and 14.4%, respectively.
Balance Sheet
As of Dec 31, 2020, cash, cash equivalents, and short-term and long-term investments were worth $756.3 million compared with $723.2 million as of Sep 30, 2020.
Remaining performance obligations were $484.3 million, up 19% year over year.
Guidance
For first-quarter fiscal 2021, revenues are expected between $104 million and $107 million. Non-GAAP loss from operations is expected between $18 million and $21 million.
Non-GAAP loss is anticipated between 22 cents and 25 cents per share in the first quarter.
For fiscal 2021, Alteryx now expects revenues between $555 million and $565 million. Non-GAAP income (loss) from operations is expected between ($5) million and $5 million.
Non-GAAP net income (loss) is expected to be in the range of $(0.07) to $0.07 per share.
ARR is expected to be roughly $625 million as of Dec 31, 2020.
Zacks Rank & Stocks to Consider
Alteryx currently has a Zacks Rank #4 (Sell).
Better-ranked stocks in the broader technology sector are Baidu (BIDU - Free Report) , CEVA (CEVA - Free Report) and CrowdStrike Holdings (CRWD - Free Report) . While Baidu sports a Zacks Rank #1 (Strong Buy), both CEVA and CrowdStrike carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
CEVA and Baidu are set to report their quarterly results on Feb 16 and 17, respectively. CrowdStrike is set to report the same on Mar 16.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.9% per year.
These 7 were selected because of their superior potential for immediate breakout.
See these time-sensitive tickers now >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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