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Alteryx stock drops as Q4 results beat expectations, but forecast disappoints

Company’s CEO says 2021 to be “year of transition” for the company.
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Written by Tiernan Ray, Contributing Writer on

Data analytics software maker Alteryx this afternoon reported Q4 revenue and profit that both beat Wall Street's expectations, but forecast results this quarter and for the full year short of consensus, 

The report sent Alteryx shares lower by 7% in late trading.  

The poor outlook echos a disappointing forecast back in August, only to see the stock shoot up in early October, when Mark Anderson was named the company's new CEO, replacing Dean Stoecker.

Said Anderson in prepared remarks, "We expect 2021 will be a year of transformation for Alteryx."

Added Anderson, "As our customers continue their transformation initiatives, we intend to scale our product, operations, and customer focus and deliver significant business value through the power of analytics and automation."

Revenue in the three months ended in December rose 2.6%, year over year, to $160.5 million, yielding EPS of 62 cents, excluding some costs.

Analysts had been modeling $154 million in revenue and 31 cents in EPS.

For the current quarter, the company expects revenue in a range of $104 million to $107 million. That compares to consensus for $119 million. 

The company expects to lose 22 cents to 25 cents a share in the quarter, worse than Wall Street's average estimate for a break-even quarter.

For the full year 2021, Alteryx expects revenue of $555 million to $565 million, versus analysts' average estimate for $567 million. The company forecast a range from negative 7 cents per share for the year to positive 7 cents, versus the consensus of 73 cents. 

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