Key Takeaways From Tableau’s Earnings
Tableau (NYSE:DATA) announced its second quarter results on August 2nd. For the quarter ended June 30th, the company’s revenue grew by 32.5% year over year to $198.5 million and exceeded the consensus estimate of $193.7 million. The increase in revenues was driven by strong growth in Licence revenues, which recorded an increase of 20% in revenues over the prior year quarter to $116.3 million. The company successfully added 3,900 clients to its base in the quarter, which was the highest in its history. Despite the increase in revenues, the company reported operating losses of $46.9 million. This was primarily due to increased spending in sales and marketing and research and development, a reflection of the company’s focus on growth. For the quarter, the company reported a net loss of $47.5 million or 64 cents a share, a significant increase from the last year quarter’s figures of $18.9 million or 27 cents a share. On a non-GAAP basis, the results were roughly breakeven.
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Revenue Growth
The revenue growth for the company was fueled by a 20.3% year-over-year increase in the License revenues and a 54.7% increase in the Maintainence and Services revenues. The growth in the License revenues was primarily due to a 28% rise in the license bookings over the last year period. In addition to this, the company successfully added 3,900 more customers to its base in the last quarter. The company successfully closed 16 deals of value greater than $1 million, and another 332 transactions of value $100,000. The company’s constant efforts to expand into different geographies paid dividends with International revenues increasing 55% year over year to $57.1 million.
Outlook for the Year
After the results in the previous two quarters, the company expects the revenue growth to continue in the upcoming quarters as well. The company expects revenues in the range of $210 million to $215 million in the upcoming quarter, which will be an increase of 26% year over year. For the full year, the company expects the revenues to be in the range of $825 million to $840 million.
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