Alteryx Announces 4th Quarter and Full Year 2022 Financial Results

IRVINE, Calif., Feb. 10, 2023 — Alteryx, Inc. today announced financial results for its fourth quarter and full year ended December 31, 2022.

“Alteryx delivered an excellent fourth quarter with annual recurring revenue (ARR) growth of 31% year-over-year, driven by continued success with large enterprises. We closed the year with strong momentum and improving operating profitability,” said Mark Anderson, CEO of Alteryx, Inc. “As we enter 2023, we have a tremendous opportunity to continue to drive powerful outcomes for our customers with enhanced sales and customer success initiatives and an expanded portfolio of offerings, including our highly differentiated end-to-end Alteryx Analytics Cloud platform.”

Fourth Quarter 2022 Financial Highlights

• Revenue: Revenue for the fourth quarter of 2022 was $301.1 million, an increase of 73%, compared to revenue of $173.8 million in the fourth quarter of 2021.
• Gross Profit: GAAP gross profit for the fourth quarter of 2022 was $269.3 million, or a GAAP gross margin of 89%, compared to GAAP gross profit of $157.3 million, or a GAAP gross margin of 90%, in the fourth quarter of 2021. Non-GAAP gross profit for the fourth quarter of 2022 was $277.8 million, or a non-GAAP gross margin of 92%, compared to non-GAAP gross profit of $161.0 million, or a non-GAAP gross margin of 93%, in the fourth quarter of 2021.
• Income (Loss) from Operations: GAAP loss from operations for the fourth quarter of 2022 was $(41.0) million, compared to GAAP loss from operations of $(26.8) million for the fourth quarter of 2021. Non-GAAP income from operations for the fourth quarter of 2022 was $67.8 million compared to non-GAAP income from operations of $18.1 million for the fourth quarter of 2021.
• Net Income (Loss): GAAP net loss attributable to common stockholders for the fourth quarter of 2022 was $(31.7) million, compared to GAAP net loss attributable to common stockholders of $(37.5) million for the fourth quarter of 2021. GAAP net loss per diluted share for the fourth quarter of 2022 was $(0.46), based on 69.2 million GAAP weighted-average diluted shares outstanding, compared to GAAP net loss per diluted share of $(0.56), based on 67.5 million GAAP weighted-average diluted shares outstanding for the fourth quarter of 2021. Non-GAAP net income and non-GAAP net income per diluted share for the fourth quarter of 2022 were $62.0 million and $0.84, respectively, compared to non-GAAP net income of $12.1 million and non-GAAP net income per diluted share of $0.18 for the fourth quarter of 2021. Non-GAAP net income per diluted share for the fourth quarter of 2022 was based on 76.3 million non-GAAP weighted-average diluted shares outstanding, compared to 69.3 million non-GAAP weighted-average diluted shares outstanding for the fourth quarter of 2021.
• Balance Sheet and Cash Flow: Cash, cash equivalents, and short-term and long-term investments as of December 31, 2022 was $432.0 million, compared to $1.0 billion as of December 31, 2021. This reflects a $387.0 million cash outflow, net of cash acquired, primarily related to the acquisition of Trifacta Inc. in February 2022. Cash provided by operating activities for the fourth quarter of 2022 was $7.9 million compared to cash provided by operating activities of $38.8 million for the fourth quarter of 2021.

Full Year 2022 Financial Highlights

• Revenue: Revenue for the full year 2022 was $855.4 million, an increase of 60%, compared to revenue of $536.1 million for the full year 2021.
• Gross Profit: GAAP gross profit for the full year 2022 was $737.6 million, or a GAAP gross margin of 86%, compared to GAAP gross profit of $480.4 million, or a GAAP gross margin of 90%, for the full year 2021. Non-GAAP gross profit for the full year 2022 was $768.0 million, or a non-GAAP gross margin of 90%, compared to non-GAAP gross profit of $491.7 million, or a non-GAAP gross margin of 92%, for the full year 2021.
• Income (Loss) from Operations: GAAP loss from operations for the full year 2022 was $(300.5) million, compared to GAAP loss from operations of $(136.3) million for the full year 2021. Non-GAAP income from operations for the full year 2022 was $12.8 million compared to non-GAAP income from operations of $1.7 million for the full year 2021.
• Net Loss: GAAP net loss attributable to common stockholders for the full year 2022 was $(318.5) million, compared to GAAP net loss of $(179.7) million for the full year 2021. GAAP net loss per diluted share for the full year 2022 was $(4.65), based on 68.5 million GAAP weighted-average diluted shares outstanding, compared to GAAP net loss per diluted share of $(2.67), based on 67.2 million GAAP weighted-average diluted shares outstanding for the full year 2021. Non-GAAP net loss and non-GAAP net loss per diluted share for the full year 2022 were $(0.3) million and $0.00, respectively, compared to non-GAAP net loss of $(7.9) million and non-GAAP net loss per diluted share of $(0.12) for the full year 2021. Non-GAAP net loss per diluted share for the full year 2022 was based on 68.5 million non-GAAP weighted-average diluted shares outstanding, compared to 67.2 million non-GAAP weighted-average diluted shares outstanding for the full year 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.”

Fourth Quarter 2022 and Recent Business Highlights

• Ended the quarter with $833.5 million in ARR, an increase of 31% year-over-year.
  Achieved a dollar-based net expansion rate (annual contract value based) of 121% for the fourth quarter of 2022.
• Ended the fourth quarter of 2022 with 8,358 customers, including over 140 customers with $1 million-plus in ARR.
• Announced a strategic investment through Alteryx Ventures in Manta Software Inc., a data lineage company that creates audit trails for data management and compliance, furthering Alteryx’s investment in enterprise governance, risk, and compliance and advancing product integration opportunities.
• Announced the early access program of the Alteryx Designer experience in the Alteryx Analytics Cloud platform, providing users access to browser-based, no-code analytics tools, in-database pushdown processing for cloud warehouses, and data profiling with an artificial intelligence-driven suggestions engine.

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Source: Alteryx