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Alteryx, Inc. (AYX) SEC Filing 8-K Material Event for the period ending Tuesday, May 3, 2022

Alteryx, Inc.

CIK: 1689923 Ticker: AYX
Exhibit 99.1
 alteryx_logoa.jpg
Alteryx Announces First Quarter 2022 Financial Results

First Quarter Revenue of $158 million, up 33% Year-Over-Year
Annual Recurring Revenue of $684 million, up 33% Year-Over-Year
IRVINE, Calif. – May 3, 2022
– Alteryx, Inc. (NYSE: AYX), the Analytics Automation company, today announced financial results for its first quarter ended March 31, 2022.

“Alteryx delivered an exceptional quarter with ARR growth accelerating to 33% year-over-year, driven by global demand tailwinds and increased adoption by large enterprise organizations,” said Mark Anderson, CEO of Alteryx, Inc. “The company is off to a great start in 2022, with strong financial results, an expanded portfolio of cloud offerings, and the completion of our game changing Trifacta acquisition. We are well-positioned to continue driving democratization of data analytics for all in this massive market opportunity.”
First Quarter 2022 Financial Highlights
Revenue: Revenue for the first quarter of 2022 was $157.9 million, an increase of 33%, compared to revenue of $118.8 million in the first quarter of 2021.
Gross Profit: GAAP gross profit for the first quarter of 2022 was $133.7 million, or a GAAP gross margin of 85%, compared to GAAP gross profit of $107.9 million, or a GAAP gross margin of 91%, in the first quarter of 2021. Non-GAAP gross profit for the first quarter of 2022 was $139.5 million, or a non-GAAP gross margin of 88%, compared to non-GAAP gross profit of $110.2 million, or a non-GAAP gross margin of 93%, in the first quarter of 2021.
Loss from Operations: GAAP loss from operations for the first quarter of 2022 was $(99.7) million, compared to GAAP loss from operations of $(28.8) million for the first quarter of 2021. Non-GAAP loss from operations for the first quarter of 2022 was $(29.8) million, compared to non-GAAP loss from operations of $(1.1) million for the first quarter of 2021.
Net Loss: GAAP net loss attributable to common stockholders for the first quarter of 2022 was $(105.6) million, compared to GAAP net loss attributable to common stockholders of $(40.7) million for the first quarter of 2021. GAAP net loss per diluted share for the first quarter of 2022 was $(1.56), based on 67.8 million GAAP weighted-average diluted shares outstanding, compared to GAAP net loss per diluted share of $(0.61), based on 66.9 million GAAP weighted-average diluted shares outstanding for the first quarter of 2021.
Non-GAAP net loss and non-GAAP net loss per diluted share for the first quarter of 2022 were $(27.3) million and $(0.40), respectively, compared to non-GAAP net loss of $(3.3) million and non-GAAP net loss per diluted share of $(0.05) for the first quarter of 2021. Non-GAAP net loss per diluted share for the first quarter of 2022 was based on 67.8 million non-GAAP weighted-average diluted shares outstanding, compared to 66.9 million non-GAAP weighted-average diluted shares outstanding for the first quarter of 2021.
Balance Sheet and Cash Flow: As of March 31, 2022, we had cash, cash equivalents, and short-term and long-term investments of $598.3 million, compared to $1.0 billion as of December 31, 2021. This reflects a $389.8 million cash outflow, net of cash acquired, related to the acquisition of Trifacta Inc. Cash provided by operating activities for the first three months of 2022 was $8.8 million, compared to cash provided by operating activities of $26.0 million for the first three months of 2021.
A reconciliation of GAAP to non-GAAP financial measures has been provided in the tables included in this press release. An explanation of these measures is also included below under the heading “Non-GAAP Financial Measures and Operating Measures.”
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First Quarter 2022 and Recent Business Highlights
Ended the first quarter of 2022 with $683.6 million in annual recurring revenue (ARR), an increase of 33% year-over-year.
Achieved a dollar-based net expansion rate (annual contract value based) of 119% for the first quarter of 2022.
Ended the first quarter of 2022 with 8,195 customers, a 14% increase from the first quarter of 2021. Added 259 net new customers in the first quarter of 2022.
Completed the acquisition of Trifacta Inc., further advancing Alteryx's journey to provide an integrated end-to-end, low code/no code analytics automation platform in the cloud.
Introduced Alteryx Analytics Cloud, an end-to-end analytics automation platform that incorporates Designer Cloud, Alteryx Machine Learning, Alteryx Auto Insights, and Alteryx Trifacta in one unified platform.
Announced an updated partner program powering a partner-centric growth strategy built around an ecosystem of solution providers, global system integrators, technology partners, and original equipment manufacturers.
Strengthened the leadership team with the promotion of Paula Hansen to President and Chief Revenue Officer, as well as the additions of Keith Pearce as Chief Marketing Officer and Lucas Moody as Chief Information Security Officer.
Financial Outlook
We provide the financial guidance below based on current market conditions and expectations. Our guidance is subject to various important cautionary factors described below. Based on information available as of May 3, 2022, guidance for the second quarter of 2022 and full year 2022 is as follows:
 
Second Quarter 2022 Guidance:
Revenue is expected to be in the range of $159 million to $162 million, representing year-over-year growth of 32% to 35%.
ARR is expected to be in the range of $718 million to $721 million, representing year-over-year growth of 31% to 32%.
Non-GAAP loss from operations is expected to be in the range of $(50) million to $(47) million.
Non-GAAP net loss per share is expected to be in the range of $(0.61) to $(0.58) based on approximately 68.2 million non-GAAP weighted-average basic and diluted shares outstanding.

Full Year 2022 Guidance:
Revenue is expected to be in the range of $730 million to $740 million, representing year-over-year growth of 36% to 38%.
ARR is expected to be in the range of $812 million to $822 million, representing year-over-year growth of 27% to 29%.
Non-GAAP loss from operations is expected to be in the range of $(40) million to $(30) million.
Non-GAAP net loss per share is expected to be in the range of $(0.56) to $(0.46) based on approximately 68.3 million non-GAAP weighted-average basic and diluted shares outstanding, and an effective tax rate of 20%.

The financial outlook above for non-GAAP loss from operations and non-GAAP net loss per share excludes estimates for stock-based compensation and related payroll tax expense and acquisition-related adjustments. A reconciliation of the non-GAAP financial guidance measures to corresponding GAAP measures is not available on a forward-looking basis primarily because of the uncertainty regarding, and the potential variability of, stock-based compensation and related payroll tax expense and acquisition-related adjustments. In particular, stock-based compensation and related payroll tax expense is impacted by our future hiring and retention needs, as well as the future fair market value of our Class A common stock, all of which is not within our control, is difficult to predict, and is subject to constant change. The actual amount of these expenses during 2022 will have a significant impact on our future GAAP financial results. Accordingly, a reconciliation of the non-GAAP financial guidance measures to the corresponding GAAP measures is not available without unreasonable effort.
Quarterly Conference Call
Alteryx will host a conference call today at 5:00 p.m. Eastern Time to discuss the company’s financial results and financial guidance. To access this call, dial 877-407-9716 (domestic) or 201-493-6779 (international). A live webcast of this conference call will be available on the “Investors” page of the company’s website at https://investor.alteryx.com.
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Following the conference call, a telephone replay will be available through May 10, 2022, at 844-512-2921 (domestic) or 412-317-6671 (international). The replay passcode is 13728428. An archived webcast of this conference call will also be available on the “Investors” page of the company’s website at https://investor.alteryx.com.  
Non-GAAP Financial Measures and Operating Measures
Non-GAAP Financial Measures. To supplement our condensed consolidated financial statements, which are prepared and presented in accordance with GAAP, we use the following non-GAAP financial measures: non-GAAP gross profit, non-GAAP gross margin, non-GAAP income (loss) from operations, non-GAAP net income (loss), non-GAAP net income (loss) per diluted share, and non-GAAP weighted-average diluted shares outstanding. The presentation of these financial measures is not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with GAAP.
We use non-GAAP measures to internally evaluate and analyze financial results. We believe these non-GAAP financial measures provide investors with useful supplemental information about the financial performance of our business, enable comparison of financial results between periods where certain items may vary independent of business performance, and enable comparison of our financial results with other public companies, many of which present similar non-GAAP financial measures. We exclude the following items from one or more of our non-GAAP financial measures:
Stock-based compensation expense. We exclude stock-based compensation expense, which is a non-cash expense, from certain of our non-GAAP financial measures because we believe that excluding this item provides meaningful supplemental information regarding operational performance. In particular, companies calculate stock-based compensation expense using a variety of valuation methodologies and subjective assumptions.
Payroll tax expense related to stock-based compensation. We exclude employer payroll tax expense related to stock-based compensation to present the full effect that excluding stock-based compensation expense has on operating results. These expenses are tied to the exercise or vesting of underlying equity awards and the price of our common stock at the time of vesting or exercise, which may vary from period to period independent of the operating performance of the business.
Acquisition-related adjustments. We exclude amortization of intangible assets, which is non-cash and related to business combinations, from certain of our non-GAAP financial measures. In addition, we exclude acquisition and integration expenses, such as transaction costs and costs associated with the applicable retention, restructuring and successful integration of operational activities of the acquired company, as they are related to a business combination and have no direct correlation to the operation of our business.

Convertible senior notes adjustments. Prior to the adoption of Accounting Standards Update 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity, or ASU 2020-06, effective as of January 1, 2022, we excluded the portion of amortization of debt discount and issuance costs that relate to the equity component of our convertible notes, which are non-cash, from certain of our non-GAAP financial measures. We excluded such expenses as they are non-cash and have no direct correlation to the operation of our business. Upon adoption of ASU 2020-06, we removed the equity component of our convertible notes and the associated amortization and therefore, this adjustment is no longer applicable.
Impairment of long-lived assets. We exclude non-cash charges for impairment of long-lived assets from certain of our non-GAAP financial measures. Impairment charges can vary significantly in terms of amount and timing and we do not consider these charges indicative of our current or past operating performance.
Income tax adjustments. We utilize a fixed annual projected long-term non-GAAP tax rate in order to provide better consistency across reporting periods by eliminating the effects of items such as changes in the tax valuation allowance, excess tax benefits associated with stock options, and tax effects of acquisition-related costs, since each of these can vary in size and frequency. When projecting this rate, we exclude the direct impact of the following non-cash items: stock-based compensation expenses, amortization and impairment of purchased intangibles, and the amortization of debt discount and issuance costs. The projected rate also assumes no new acquisitions, and considers other factors including our expected tax structure, our tax positions in various jurisdictions and key legislation in major jurisdictions where we operate. We used a projected non-GAAP tax rate of 20% for both 2022 and 2021. The non-GAAP tax rate could be subject to change for a variety of reasons, including the rapidly evolving global tax environment, significant changes in our geographic earnings mix including due to acquisition activity, or other changes to our strategy or business operations. We will re-evaluate our long-term rate as appropriate.
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Investors are cautioned that there are material limitations associated with the use of non-GAAP financial measures as an analytical tool. In particular, we exclude stock-based compensation and related payroll tax expense and amortization of intangible assets which are recurring and will be reflected in our financial results for the foreseeable future. The non-GAAP measures we use may be different from non-GAAP financial measures used by other companies, limiting their usefulness for comparison purposes. We compensate for these limitations by providing specific information regarding the GAAP items excluded from these non-GAAP financial measures.
Annual Recurring Revenue (ARR). Annual recurring revenue, or ARR, represents the total annual contract value for active customer subscription contracts as of the measurement date. We also use ARR as one of our operating measures to assess the health and trajectory of our business. ARR should be viewed independently of revenue and deferred revenue as ARR is a performance metric and is not intended to be a substitute for, or combined with, any of these items.
Forward-Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding our guidance for the second quarter and full year 2022, our ability to execute our long-term growth strategy and transformation efforts, our mission regarding the democratization of data and the related market opportunity, the anticipated benefits of and innovation resulting from our acquisitions, our non-GAAP tax rate for 2022, and other future events. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors including, but not limited to: our ability to manage our growth and the investments made to grow our business effectively; our ability to expand and retain our talent base, particularly our sales force and software engineers, and increase their productivity; risks and uncertainties associated with the COVID-19 pandemic; our ability to develop, release, and gain market acceptance of product and service enhancements and new products and services to respond to rapid technological change in a timely and cost-effective manner; the impact of our Trifacta acquisition; our history of losses; our dependence on our software platform for substantially all of our revenue; our ability to attract new customers and retain and expand sales to existing customers; intense and increasing competition in our market; the rate of growth in the market for analytics products and services; our ability to establish and maintain successful relationships with our channel partners; our dependence on technology and data licensed to us by third parties; risks associated with our international operations; our ability to develop, maintain, and enhance our brand and reputation cost-effectively; litigation and related costs; security breaches; and other general market, political, economic, and business conditions. Additionally, these forward-looking statements, particularly our guidance, involve risk, uncertainties and assumptions. Many of these assumptions relate to matters that are beyond our control and changing rapidly, including, but not limited to, the timeframes for and severity of the impact of the COVID-19 pandemic on our customers’ purchasing decisions and the length of our sales cycles, particularly for customers in certain industries highly affected by the COVID-19 pandemic. 
Additional risks and uncertainties that could affect our financial results are included under the caption “Risk Factors” in our filings with the U.S. Securities and Exchange Commission (SEC), including our Annual Report on Form 10-K for the year ended December 31, 2021, which are available on the “Investors” page of our website at https://investor.alteryx.com and on the SEC website at http://www.sec.gov. Additional information will also be set forth in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2022. All forward-looking statements contained herein are based on information available to us as of the date hereof and we do not assume any obligation to update these statements as a result of new information or future events.
About Alteryx, Inc.
Alteryx, the Analytics Automation company, is focused on enabling every person to transform data into a breakthrough. Alteryx unifies analytics, data science and business process automation in one, end-to-end platform to accelerate digital transformation and shape the future of analytics automation. Organizations of all sizes, all over the world, rely on Alteryx to deliver high-impact business outcomes and the rapid upskilling of their modern workforce. For more information visit http://www.alteryx.com.
Alteryx is a registered trademark of Alteryx, Inc. All other product and brand names may be trademarks or registered trademarks of their respective owners.
Media Contact
Alteryx, Inc.
Laura Finlayson
laura.finlayson@alteryx.com

Investor Contacts
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Alteryx, Inc.
Ryan Goodman
ir@alteryx.com
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Alteryx, Inc.
Condensed Consolidated Statements of Operations
(in thousands, except per share data)
(unaudited)
 
Three Months Ended March 31,
20222021
Revenue:
Subscription-based software license$63,089 $43,358 
PCS and services94,852 75,401 
Total revenue157,941 118,759 
Cost of revenue:
Subscription-based software license2,102 1,249 
PCS and services22,139 9,592 
Total cost of revenue24,241 10,841 
Gross profit133,700 107,918 
Operating expenses:
Research and development50,150 31,322 
Sales and marketing115,610 71,907 
General and administrative59,440 33,500 
Impairment of long-lived assets8,239 — 
Total operating expenses233,439 136,729 
Loss from operations(99,739)(28,811)
Interest expense(2,390)(9,598)
Other expense, net(1,950)(1,254)
Loss before provision for income taxes(104,079)(39,663)
Provision for income taxes1,488 993 
Net loss$(105,567)$(40,656)
Net loss per share attributable to common stockholders, basic$(1.56)$(0.61)
Net loss per share attributable to common stockholders, diluted$(1.56)$(0.61)
Weighted-average shares used to compute net loss per share attributable to common stockholders, basic67,826 66,932 
Weighted-average shares used to compute net loss per share attributable to common stockholders, diluted67,826 66,932 

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Alteryx, Inc.
Stock-Based Compensation Expense
(in thousands)
(unaudited)
 
Three Months Ended March 31,
 20222021
Cost of revenue$3,404 $1,108 
Research and development11,174 6,325 
Sales and marketing15,220 7,045 
General and administrative15,364 9,961 
Total$45,162 $24,439 

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Alteryx, Inc.
Condensed Consolidated Balance Sheets
(in thousands)
(unaudited)
 
March 31, 2022December 31, 2021
Assets
Current assets:
Cash and cash equivalents$147,138 $152,375 
Short-term investments311,236 506,874 
Accounts receivable, net77,514 192,318 
  Prepaid expenses and other current assets85,658 81,360 
Total current assets621,546 932,927 
Property and equipment, net72,124 71,270 
Operating lease right-of-use assets94,343 102,681 
Long-term investments139,889 343,213 
Goodwill398,921 57,415 
Intangible assets, net70,637 21,737 
Other assets79,228 70,445 
Total assets$1,476,688 $1,599,688 
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable$10,921 $8,086 
Accrued payroll and payroll related liabilities40,187 61,391 
Accrued expenses and other current liabilities51,369 53,917 
Deferred revenue176,604 208,154 
Convertible senior notes, net84,247 77,400 
Total current liabilities363,328 408,948 
Convertible senior notes, net790,729 686,016 
Operating lease liabilities75,660 78,784 
Other liabilities16,378 23,186 
Total liabilities1,246,095 1,196,934 
Stockholders’ equity:
Common stock
Additional paid-in capital466,318 598,710 
Accumulated deficit(230,227)(190,429)
Accumulated other comprehensive loss(5,505)(5,534)
Total stockholders’ equity230,593 402,754 
Total liabilities and stockholders’ equity$1,476,688 $1,599,688 

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Alteryx, Inc.
Condensed Consolidated Statements of Cash Flows
(in thousands)
(unaudited)
 Three Months Ended March 31,
 20222021
Cash flows from operating activities:
Net loss$(105,567)$(40,656)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization7,389 3,683 
Non-cash operating lease cost5,152 3,022 
Stock-based compensation45,162 24,439 
Amortization (accretion) of discounts and premiums on investments, net477 1,324 
Amortization of debt discount and issuance costs780 7,992 
Deferred income taxes360 433 
Impairment of long-lived assets8,239 — 
Other non-cash operating activities, net4,649 153 
Changes in operating assets and liabilities:
Accounts receivable120,727 76,680 
Deferred commissions1,281 451 
Prepaid expenses and other current assets and other assets(9,516)(16,253)
Accounts payable1,854 761 
Accrued payroll and payroll related liabilities(26,391)(13,924)
Accrued expenses, other current liabilities, operating lease liabilities, and other liabilities(7,860)(8,271)
Deferred revenue(37,918)(13,866)
Net cash provided by operating activities8,818 25,968 
Cash flows from investing activities:
Purchases of property and equipment(9,301)(5,643)
Cash paid in business acquisition, net of cash acquired(389,769)— 
Purchases of investments(38,106)(144,701)
Sales and maturities of investments433,190 214,955 
Net cash provided by (used in) investing activities(3,986)64,611 
Cash flows from financing activities:
Proceeds from exercise of stock options and taxes withheld4,741 5,243 
Minimum tax withholding paid on behalf of employees for restricted stock units(14,126)(13,071)
Other financing activity— — 
Net cash used in financing activities(9,385)(7,828)
Effect of exchange rate changes on cash, cash equivalents and restricted cash(684)(207)
Net increase (decrease) in cash, cash equivalents and restricted cash(5,237)82,544 
Cash, cash equivalents and restricted cash—beginning of period154,623 173,665 
Cash, cash equivalents and restricted cash—end of period$149,386 $256,209 
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Alteryx, Inc.
Reconciliation of GAAP Measures to Non-GAAP Measures
(in thousands, except percentages and per share amounts)
(unaudited)
Three Months Ended March 31,
20222021
Reconciliation of non-GAAP gross profit:
GAAP gross profit$133,700 $107,918 
GAAP gross margin85 %91 %
Add back:
Stock-based compensation3,404 1,108 
Payroll tax expense related to stock-based compensation(1)
119 84 
Amortization of intangible assets2,312 1,082 
Non-GAAP gross profit$139,535 $110,192 
Non-GAAP gross margin88 %93 %
Reconciliation of non-GAAP loss from operations:
GAAP loss from operations$(99,739)$(28,811)
GAAP operating margin(63)%(24)%
Add back:
Stock-based compensation45,162 24,439 
Payroll tax expense related to stock-based compensation(1)
2,268 2,159 
Amortization of intangible assets2,407 1,140 
Impairment of long-lived assets8,239 — 
Acquisition transaction and integration costs11,880 — 
Non-GAAP loss from operations$(29,783)$(1,073)
Non-GAAP operating margin(19)%(1)%
Reconciliation of non-GAAP net loss:
GAAP net loss attributable to common stockholders$(105,567)$(40,656)
Add back:
Stock-based compensation45,162 24,439 
Payroll tax expense related to stock-based compensation(1)
2,268 2,159 
Amortization of intangible assets2,407 1,140 
Impairment of long-lived assets8,239 — 
Amortization of debt discount and issuance costs(2)
— 7,235 
Acquisition transaction and integration costs11,880 — 
Income tax adjustments8,285 2,363 
Non-GAAP net loss$(27,326)$(3,320)
Non-GAAP loss per diluted share:
Non-GAAP net loss$(27,326)$(3,320)
Weighted-average shares used to compute net loss per share attributable to common stockholders, diluted67,826 66,932 
Non-GAAP net loss per diluted share$(0.40)$(0.05)
Reconciliation of non-GAAP net loss per diluted share:
GAAP net loss per share attributable to common
     stockholders, diluted
$(1.56)$(0.61)
Add back:
Non-GAAP adjustments to net loss per share1.16 0.56 
Non-GAAP net loss per diluted share$(0.40)$(0.05)

(1)Beginning with the quarter ended March 31, 2022, we have excluded payroll tax expense related to stock-based compensation from our non-GAAP financial measures to better present the full effect that excluding stock-based compensation expense has on operating results. Our non-GAAP financial measures for the three months ended March 31, 2021 were recast to conform to the updated methodology for comparison purposes.
(2) See “Non-GAAP Financial Measures and Operating Measures” above and Note 8, Convertible Senior Notes, of the notes to our condensed consolidated financial statements included in our Quarterly Report on Form 10-Q for the three months ended March 31, 2022.
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Alteryx, Inc.
Other Business Metrics
(unaudited)
Annual Recurring Revenue (ARR). ARR represents the annualized recurring value of all active subscription contracts at the end of a reporting period and excludes the value of non-recurring revenue streams, such as certain professional services. Both multi-year contracts and contracts with terms less than one year are annualized by dividing the total committed contract value by the number of months in the subscription term and then multiplying by twelve (in millions).
Mar. 31,Jun. 30,Sep. 30,Dec. 31,Mar. 31,
20212021202120212022
Annual recurring revenue$512.7 $547.6 $578.6 $638.0 $683.6 
Dollar-Based Net Expansion Rate.  Our dollar-based net expansion rate is a trailing four-quarter average of the annual contract value, or ACV, which is defined as the subscription revenue that we would contractually expect to recognize over the term of the contract divided by the term of the contract, in years, from a cohort of customers in a quarter as compared to the same quarter in the prior year. To calculate our dollar-based net expansion rate, we first identify a cohort of customers, or the Base Customers, in a particular quarter, or the Base Quarter. A customer will not be considered a Base Customer unless such customer has an active subscription on the last day of the Base Quarter. We then divide the ACV in the same quarter of the subsequent year attributable to the Base Customers, or the Comparison Quarter, including Base Customers from which we no longer derive ACV in the Comparison Quarter, by the ACV attributable to those Base Customers in the Base Quarter. Our dollar-based net expansion rate in a particular quarter is then obtained by averaging the result from that particular quarter with the corresponding result from each of the prior three quarters. The dollar-based net expansion rate excludes contract value relating to professional services from that cohort.
Mar. 31,Jun. 30,Sep. 30,Dec. 31,Mar. 31,
20212021202120212022
Dollar-based net expansion rate 120 %120 %119 %119 %119 %
Number of Customers. We define a customer at the end of any particular period as an entity with a subscription agreement that runs through the current or future period as of the measurement date. Organizations with free trials have not entered into a subscription agreement and are not considered customers. A single organization with separate subsidiaries, segments, or divisions that use our platform may represent multiple customers, as we treat each entity that is invoiced separately as a single customer. In cases where customers subscribe to our platform through our channel partners, each end customer is counted separately.
Mar. 31,Jun. 30,Sep. 30,Dec. 31,Mar. 31,
20212021202120212022
Customers 7,214 7,405 7,6897,9368,195
    Remaining Performance Obligations. Remaining performance obligations represent amounts from contracts with customers allocated to unsatisfied or partially unsatisfied performance obligations that are not yet recorded in revenue in our condensed consolidated statements of operations (in millions).
Mar. 31,Jun. 30,Sep. 30,Dec. 31,Mar. 31,
20212021202120212022
Remaining performance obligations$452.6 $437.5 $412.0 $476.3 $445.2 
Contract Assets. Contract assets primarily relate to unbilled amounts for contracts with customers for which the amount of revenue recognized exceeds the amount billed to the customer. Contract assets are transferred to accounts receivable when the right to invoice becomes unconditional in our condensed consolidated balance sheets (in millions).
Mar. 31,Jun. 30,Sep. 30,Dec. 31,Mar. 31,
20212021202120212022
Contract assets$74.5 $85.5 $88.3 $42.5 $53.6 
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Ticker: AYX
CIK: 1689923
Form Type: 8-K Corporate News
Accession Number: 0001689923-22-000040
Submitted to the SEC: Tue May 03 2022 4:17:08 PM EST
Accepted by the SEC: Tue May 03 2022
Period: Tuesday, May 3, 2022
Industry: Prepackaged Software
Events:
  1. Earnings Release
  2. Financial Exhibit

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