Tableau Reports First Quarter 2017 Financial Results
SEATTLE, Wash., May 3, 2017 -- Tableau Software, Inc. (NYSE: DATA) today reported results for its first quarter ended March 31, 2017.
- Total revenue grew to $199.9 million, up 16% year over year.
- Ratable license bookings were 26% of total license bookings, compared to 12% in the first quarter of 2016.
- Closed 294 transactions greater than $100,000, up 10% year over year.
- Diluted GAAP net loss per share was $0.71; diluted non-GAAP net loss per share was $0.03.
"Customers enthusiastically embraced our subscription licensing offerings in Q1, as reflected in our 26% ratable license bookings mix," said Adam Selipsky, President and Chief Executive Officer of Tableau. "Subscription reduces risk for our customers, lowers their upfront investment and we expect will lead to higher demand for Tableau over time."
Financial Results
Total revenue increased 16% to $199.9 million, up from $171.7 million in the first quarter of 2016. GAAP operating loss for the first quarter of 2017 was $53.5 million, compared to a GAAP operating loss of $46.4 million for the first quarter of 2016. GAAP net loss for the first quarter of 2017 was $54.6 million, or $0.71 per diluted common share, compared to a GAAP net loss of $45.6 million, or $0.62 per diluted common share, for the first quarter of 2016.
Non-GAAP operating loss, which excludes stock-based compensation expense and expense related to amortization of acquired intangible assets, was $4.2 million for the first quarter of 2017, compared to a non-GAAP operating loss of $1.2 million for the first quarter of 2016. Non-GAAP net loss, which excludes stock-based compensation expense, expense related to amortization of acquired intangible assets and non-GAAP income tax adjustments, was $2.1 million for the first quarter of 2017, or $0.03 per diluted common share, compared to a non-GAAP net income of $0.4 million, or $0.00 per diluted common share, for the first quarter of 2016.
During the first quarter ended March 31, 2017, Tableau repurchased 383,411 shares of the Company's outstanding Class A common stock for a total of $20.0 million. As of March 31, 2017, the Company was authorized to repurchase a remaining $160.0 million of its Class A common stock under the previously authorized repurchase program.
Recent Business Highlights
- Introduced new subscription pricing for all of Tableau's products, including Tableau Desktop, Tableau Server and Tableau Online. The new pricing model reduces initial investment costs, allowing customers to more easily deploy Tableau at scale.
- Released Tableau 10.2, which includes enhancements to data preparation and advanced mapping capabilities.
- Recognized as a Leader in the 2017 Gartner Magic Quadrant for Business Intelligence and Analytics Platforms for a fifth consecutive year.
Conference Call and Webcast Information
In conjunction with this announcement, Tableau will host a conference call at 1:30 p.m. PT (4:30 p.m. ET) today to discuss Tableau's first quarter 2017 financial results. A live audio webcast and replay of the call, together with detailed financial information, will be available in the Investor Relations section of Tableau's website at http:// investors.tableau.com. The live call can be accessed by dialing (877) 201-0168 (U.S.) or (647) 788-4901 (outside the U.S.) and referencing passcode 6705814. A replay of the call can also be accessed by dialing (800) 585-8367 (U.S.) or (416) 621-4642 (outside the U.S.), and referencing passcode 6705814.
About Tableau
Tableau (NYSE: DATA) helps people see and understand data. Tableau helps anyone quickly analyze, visualize and share information. More than 57,000 customer accounts get rapid results with Tableau in the office and on-the-go. Hundreds of thousands of people have used Tableau Public to share data in their blogs and websites. See how Tableau can help you by downloading the free trial at www.tableau.com/trial.
Source: Tableau
