Tableau reports strong subscription adoption in Q3

Q3 results were mixed, but subscription licensing accounted for 81 percent of overall license bookings.

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Tableau published its third quarter financial results on Tuesday, reporting mixed results.

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Under ASC 605 standards, Tableau posted a diluted non-GAAP net loss per share of 7 cents on revenue of $239.6 million. Revenue was up 11 percent year-over-year, Tableau said, thanks in part to a strong showing in Q3 in its US enterprise business.

Analysts were looking for a net loss of 11 cents per share on revenue of $242.08 million.

Third quarter license revenue on a 605-basis was $118 million dollars, up 19 percent year-over-year. Subscription licensing accounted for 81 percent of overall license bookings recognized ratably, up from 67 percent last quarter.

In a statement, CEO Adam Selipsky noted the highlight's of Tableau's customer conference in New Orleans. "Customers responded enthusiastically to our new product announcements, including natural language to bring analytics to even more people, and broadening the Tableau platform with enterprise-ready data preparation capabilities," he said.

CEO Adam Selipsky outlines Tableau 10.5's new data engine Hyper Tableau is adding in-memory technology to its upcoming 10.5 release to speed up query times 5x and ingest large data sets faster.

With more than 3,800 customers added in Q3, Tableau now has more than 82,000 total customer accounts.

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Highlights of the quarter included expanded partnerships with new product integrations with AWS, Informatica and Unify. Tableau also announced a commitment to grant $100 million in software, training and financial support through the Tableau Foundation through 2025.

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