Tableau beats Q2 targets as subscription adoption ramps up
Data visualization software company Tableau delivered better-than-expected second quarter results on Thursday.
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The company posted a net loss of $12 million, or 15 cents per share. Non-GAAP earnings were flat at zero with revenues ringing up to $244 million.
Wall Street was expecting a loss of 11 cents per share on revenues of $236 million.
License revenue grew to $123 million, up 19 percent year over year. Tableau said its revenue performance was encouraging given strong its subscription adoption in the second quarter, with 67 percent of Tableau's overall license bookings now recognized ratably.
Tableau also noted that this quarter is the first to realize the financial impact of its new role-based subscription offerings.
The company pulled in more than 4,100 new customer accounts for the quarter, bringing its total customer tally to 78,000.
"We saw strong customer demand for subscriptions in the second quarter, as shown by our 67 percent ratable license bookings mix," said Tableau CEO Adam Selipsky,."Our new Creator, Explorer and Viewer subscription offerings have made it even easier for our customers to buy and scale Tableau, as more and more organizations look to deploy self-service analytics with tailored solutions for every user."
In terms of guidance, analysts expect Tableau to report Q3 earnings of zero cents per share on revenue of $240 million.