Tableau reported better-than-expected fourth quarter results and hit the $1 billion mark in annual revenue.
The company reported a fourth quarter loss of 80 cents a share on revenue of $275.7 million. The non-GAAP loss for Tableau was 3 cents a share.
Wall Street was looking for a fourth quarter loss of 8 cents a share on revenue of $271.75 million. Results and estimates are under the ASC 605 accounting standard. Tableau also gave results for a new standard called ASC 606, which gave the company a non-GAAP profit of 3 cents a share on revenue of $336.3 million.
For 2018, Tableau reported a non-GAAP loss of 30 cents a share on revenue of $982.9 million. Those results were under ASC 605. Under ASC 606, Tableau reported revenue of $1.16 billion.
Tableau earlier this year segmented its user base and broadened the reach for its analytics tools. As a result, the company can capture more recurring revenue.
On an earnings conference call, CEO Adam Selipsky outlined the following:
- Tableau added 15,700 new customer accounts in 2018.
- The company added 140 new features in the year.
- Tableau is seeing a "strong subscription uptick."
- Total customer accounts ended the year at 86,000.
The enterprise opportunity has also been a big area of focus over the past year. We've significantly expanded the breadth and depth of our analytics platform with new capabilities like Tableau Server on Linux, HyPer data engine technology and Tableau Prep, all while continuing to strengthen our security, governance and compliance capabilities. As a result, in 2018, we saw a dramatic increase each quarter in year-over-year growth of customer accounts purchasing greater than $1 million.
For 2019, Selipsky said that Tableau is looking to extend its subscription offerings, integrate natural language processing, evolve the go-to-market strategy and build out the company's international efforts.
As for the outlook, Tableau said it sees 2019 revenue of $1.33 billion to $1.4 billion under ASC 606 accounting rules with non-GAAP earnings between $1.54 a share to $1.85 a share. First quarter sales will be between $278 million to $292 million with non-GAAP results between a loss of 9 cents a share to a profit of a penny a share.
The company releases new versions of its software quarterly and recently updated with new heatmaps, dashboards and table storage tools.
- Tableau launches Ask Data natural language processing system
- Tableau commits $100 million toward using data, analytics to solve global issues
- Tableau takes next steps toward smart analytics
- Tableau buys AI startup Empirical Systems
- Tableau launches Tableau Prep to take pain out of data preparation, Creator, Explorer and Viewer versions