Tableau on Thursday reported its fourth quarter and year end results that beat market expectations. Tableau shares were up 15 percent during after-market trading.
The Seattle-based data visualization firm reported a net loss of $41.8 million, or 52 cents per share.
Non-GAAP earnings were 12 cents per share on top of $249.4 million in revenue, down 1 percent year over year. Wall Street was expecting 3 cents per share with revenue of $240 million.
Tableau said it had total annual recurring revenue of $596.2 million, up 45 percent year over year. Subscription revenue increased 235 percent to $195.5 million, up from $58.4 million during the same period a year ago.
For its full year, Tableau reported a net loss of $185.6 million, or $2.35 per share. Non-GAAP earnings were 27 cents per share on top of $877.1 million in revenue, up 6 percent over 2016.
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"Customers continued to embrace our subscription offerings in the fourth quarter with over half of our license bookings now recognized ratably," Adam Selipsky, president and CEO of Tableau, said in a statement. "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."
Tableau announced its CFO Tom Walker will step down after 13 years with the company. Damon Fletcher, SVP of finance, has been placed as interim CFO. Tableau also said Starbucks EVP and CTO Gerri Martin-Flickinger will join the board as a new director.
For full year 2018, Tableau said it expects net revenue between $945 million and $985 million and earnings of 11 cents per share.