Tableau Reports Q4 and Full Year 2017 Financial Results

SEATTLE, Feb. 2, 2018 — Tableau Software, Inc. (NYSE: DATA) has reported results for its fourth quarter and full year ended December 31, 2017.

“Customers continued to embrace our subscription offerings in the fourth quarter with over half of our license bookings now recognized ratably,” said Adam Selipsky, President and Chief Executive Officer of Tableau. “With the lower upfront cost and reduced risk that subscription licensing offers to customers, a record number of organizations are turning to Tableau as the mission-critical analytics platform for their data needs.”

Full Year 2017 Financial Summary

• Total revenue was $877.1 million, up 6% year over year.
• Total annual recurring revenue was $596.2 million, up 45% year over year.
• Subscription annual recurring revenue was $195.5 million, up 235% year over year.
• Ratable license bookings were 41% of total license bookings, compared to 17% in 2016.
• Diluted GAAP net loss per share was $2.35; diluted non-GAAP net income per share was $0.27.

Fourth Quarter 2017 Financial Summary

• Total revenue was $249.4 million, down 1% year over year.
• Ratable license bookings were 51% of total license bookings, compared to 20% in the fourth quarter of 2016.
• Diluted GAAP net loss per share was $0.52; diluted non-GAAP net income per share was $0.12.

Financial Results for the Full Year Ended December 31, 2017

Total revenue increased 6% to $877.1 million, up from $826.9 million in 2016. Total annual recurring revenue increased 45% to $596.2 million, up from $411.2 million at the end of the fourth quarter of 2016. Subscription annual recurring revenue increased 235% to $195.5 million, up from $58.4 million at the end of the fourth quarter of 2016.

GAAP operating loss for 2017 was $191.0 million, compared to a GAAP operating loss of $139.6 million for 2016. GAAP net loss for 2017 was $185.6 million, or $2.35 per diluted common share, compared to a GAAP net loss of $144.4 million, or $1.92 per diluted common share, for 2016.

Non-GAAP operating income, which excludes stock-based compensation expense and expense related to amortization of acquired intangible assets, was $20.1 million for 2017, compared to a non-GAAP operating income of $46.5 million for 2016. Non-GAAP net income, which excludes stock-based compensation expense, expense related to amortization of acquired intangible assets and non-GAAP income tax adjustments, was $22.7 million for 2017, or $0.27 per diluted common share, compared to a non-GAAP net income of $34.0 million, or $0.43 per diluted common share, for 2016.

Financial Results for the Fourth Quarter Ended December 31, 2017

Total revenue decreased 1% to $249.4 million, down from $250.7 million in the fourth quarter of 2016.

GAAP operating loss for the fourth quarter of 2017 was $43.5 million, compared to a GAAP operating loss of $16.9 millionfor the fourth quarter of 2016. GAAP net loss for the fourth quarter of 2017 was $41.8 million, or $0.52 per diluted common share, compared to a GAAP net loss of $21.1 million, or $0.28 per diluted common share, for the fourth quarter of 2016.

Non-GAAP operating income, which excludes stock-based compensation expense and expense related to amortization of acquired intangible assets, was $11.5 million for the fourth quarter of 2017, compared to a non-GAAP operating income of $30.9 million for the fourth quarter of 2016. Non-GAAP net income, which excludes stock-based compensation expense, expense related to amortization of acquired intangible assets and non-GAAP income tax adjustments, was $10.4 million for the fourth quarter of 2017, or $0.12 per diluted common share, compared to a non-GAAP net income of $20.7 million, or $0.26 per diluted common share, for the fourth quarter of 2016.

During the fourth quarter ended December 31, 2017, Tableau repurchased 284,851 shares of the Company’s outstanding Class A common stock for a total of $20.0 million. As of December 31, 2017, the Company was authorized to repurchase a remaining $100.0 million of its Class A common stock under the previously authorized repurchase program.

Recent Business Highlights

• Released Hyper, Tableau’s new in-memory data engine technology that provides customers up to five times faster query speed and up to three times faster extract creation speed.
• Delivered Tableau Server on Linux with Tableau 10.5, which enables customers to combine Tableau’s analytics platform with Linux’s enterprise capabilities.
• Deloitte recently launched a first-of-its-kind embedded analytics solution for tax departments called Taxalytics. Taxalytics integrates financial data and uses Tableau analytics technology to create user-friendly, customizable analytics dashboards for tax and finance departments.

CFO Transition; Gerri Martin-Flickinger Appointed to Board of Directors

Tom Walker, Chief Financial Officer, has decided to step down permanently from the CFO position, and after more than 13 years of service, to take a six-month sabbatical from Tableau beginning in April. The Board has appointed Damon Fletcher, Senior Vice President of Finance, as Interim CFO, effective today. Mr. Walker will assist with transition responsibilities between now and the start of his sabbatical. The Company will conduct a thorough search for a permanent Chief Financial Officer, including consideration of internal and external candidates. Mr. Fletcher joined Tableau in January 2014 and currently serves as Senior Vice President, Finance, a role that he has held since July 2016. Prior to joining Tableau, Mr. Fletcher worked as a certified public accountant with PricewaterhouseCoopers LLP, beginning September 2002.

The Board also has appointed Gerri Martin-Flickinger as a new director. Ms. Martin-Flickinger is Executive Vice President and Chief Technology Officer for Starbucks, and prior to that was Chief Information Officer at Adobe. She brings to Tableau her expertise in enterprise technology requirements and experience at innovative tech companies.

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 fourth quarter and full year 2017 financial results, its outlook for the first quarter and full year 2018. 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 (833) 241-7252 (U.S.) or (647) 689-4216 (outside the U.S.) and referencing passcode: 6567987. 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: 6567987.

About Tableau

Tableau (NYSE: DATA) helps people see and understand data. Tableau helps anyone quickly analyze, visualize and share information. More than 70,000 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