Shares of the analytical platform Alteryx Inc. (AYX) received a solid positive impulse after the report. The results far exceeded expectations. At the auction on August 4, the AYX stock was worth $61.6. The market capitalization was $4.15 billion. In the quarter that ended June 30, Alteryx’s revenue grew by 50% year-on-year to $180.6 million. Net loss amounted to $106.8 million, and GAAP loss per share increased to $1.56. The stock of cash and equivalents decreased by about half to $511.7 million due to the acquisition of the Trifacta Inc. cloud platform in February 2022.
The main driver of Alteryx sales improvement is successful cooperation with large companies. Universities use Alteryx IT tools to automate work processes, expand data analytics, and improve employee skills. Alteryx offers the most demanded digital transformation services, primarily cloud-based tools for processing and visualizing large volumes of unstructured data. The company is still making enormous losses, but its strong advantage is the partnership with the cloud platform Snowflake Inc. (SNOW).
Snowflake customers have highly appreciated Alteryx, and this partnership will likely develop soon. In the third quarter, Alteryx expects even more sales growth: in the range of $191—$194 million, which means an average increase of 56% year-on-year. Alteryx management also expects to improve profitability and move towards profitability. However, while the company does not name figures and deadlines, the annual revenue forecast assumes significant growth. Alteryx now forecasts an increase in revenue in 2022 by about 45% to $770—$780 million.