earnings Alteryx $AYX continues to be a battleground stock in the software space, with a long list of concerns around the analytical software provider:
Cost of product. Notably, the revenue per average customer was down 6% year over year this quarter and has been down three of the last four quarters sequentially. It appears there is indeed pricing pressure.
Competition from Cloud competitors (knime, dataiku) and/or data lakes like Snowflake that can clean data
Slowing growth in the midst of sales team transition and CEO replacement
Digging through the
, some of the market concerns are obvious in the numbers
ARR is +27% y/y but y/y RPO is only +13% y/y with massive deceleration
Contracts are getting shorter. Longer contracts are rolling off without renewal or fewer customers are willing to sign up for long-term deals. Both concerning.
TCV (total contract value) growth is down to 10% from near 50% just two quarters ago
While the decline got better than 4Qs 17% drop, 1Q21 bookings appear down 15%
Many of these concerns and accounting terms were discussed in October last year
discussed sales attrition
, a sales hiring binge and reorganizing the sales team on the 1Q call, the transition remains early and uncertain. Use your analytical toolkit wisely on AYX.