Tableau Software Inc Class A (NYSE:DATA) just announced results for its third quarter ended September 30, 2018. According to the company, ASC 606 total revenue for the third quarter of 2018 was $290.6 million. Total annual recurring revenue increased 45% to $762.6 million as of September 30, 2018, up from $526.2 million as of September 30, 2017. Subscription annual recurring revenue increased 160% to $362.4 million as of September 30, 2018, up from $139.2 million as of September 30, 2017.
“It was extraordinary seeing our Tableau Community come together in New Orleans this year for our largest customer conference ever,” said Adam Selipsky, President and Chief Executive Officer of Tableau. “Customers responded enthusiastically to our new product announcements, including natural language to bring analytics to even more people, and broadening the Tableau platform with enterprise-ready data preparation capabilities.”
Tableau Software Inc Class A (NYSE:DATA) promulgates itself as a company that provides business analytics software products. It offers Tableau Desktop, an analytics product that empowers people to access and analyze data; and Tableau Server, a business intelligence platform with data management and scalability to foster sharing of analytics, as well as to enhance the dissemination of information in an organization and promote decision-making.
The company also provides Tableau Online, a hosted software-as-a-service version of Tableau Server; and Tableau Public, a cloud-based platform that allows various users, such as bloggers, journalists, researchers, and government workers to visualize public data on their Websites.
In addition, it offers Visual Query Language (VizQL) for databases, which is a computer language for describing pictures of data, including graphs, charts, maps, time series, and tables of visualizations; Live Query Engine that interprets abstract queries generated by VizQL into syntax understandable by various database systems; and Hyper, an in-memory data engine technology that helps customers to analyze a range of data sets by evaluating analytical queries directly in the transactional database.
Further, the company provides maintenance and support, training, and professional services. It serves organizations in various industries, including business services, energy and telecommunications, financial services, life sciences and healthcare, manufacturing and technology, media and entertainment, public sector, and education, as well as retail, consumer, and distribution industries.
The company sells its products directly, as well as through indirect sales channels, such as technology vendors, resellers, original equipment manufacturers, and independent software vendor partners in the United States, Australia, Canada, China, France, Germany, India, Ireland, Japan, Singapore, the United Kingdom, and internationally. Tableau Software, Inc. was founded in 2003 and is headquartered in Seattle, Washington.
It’s Time
As noted above, DATA just announced results for its third quarter ended September 30, 2018.
The stock is up on the news. Overall, shares of DATA have rallied about 7% over the past week. That sets up an interesting context for the action tomorrow.
The company noted that ASC 605 total revenue for the third quarter of 2018 was $239.6 million, up 11% from $214.9 million in the third quarter of 2017. ASC 605 GAAP operating loss for the third quarter of 2018 was $74.1 million, compared to a GAAP operating loss of $49.0 million for the third quarter of 2017. ASC 605 GAAP net loss for the third quarter of 2018 was $71.3 million, or $0.86 per diluted common share, compared to a GAAP net loss of $46.6 million, or $0.59 per diluted common share, for the third quarter of 2017.
Tableau Software Inc Class A (NYSE:DATA) generated sales of $282.3M, according to information released in the company’s most recent quarterly financial report. That adds up to a sequential quarter-over-quarter growth rate of 14.7% on the top line. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($912.1M against $456M).