Tableau sees strong Q2 as customers start to standardize

The company ended the first quarter with 74,000 customers.

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.

Video: CEO Adam Selipsky outlines Tableau 10.5's new data engine Hyper

Tableau's said its second quarter revenue will be ahead of expectations amid strong demand, as the company shifts to a subscription model.

The company reported a solid first quarter, but there were moving parts due to an accounting standards shift.

Tableau reported a first quarter net loss of 57 cents a share on revenue of $246.2 million. Non-GAAP earnings were 7 cents a share. Wall Street was expecting a non-GAAP loss in the first quarter of 18 cents a share on revenue of $218 million.

Here's a look at some of Tableau's recent moves:

Interim CFO Damon Fletcher said on a conference call that Tableau expects second quarter revenue between $230 million and $240 million with non-GAAP earnings of 8 cents a share to 15 cents a share.

Wall Street was expecting second quarter non-GAAP earnings of 4 cents a share on revenue of $235 million.

CEO Adam Selipsky said customers were adopting new subscription plans. Tableau recently announced plans to slice its software offerings so they hit more groups beyond data scientists.

On a conference call, Selipsky said, "We added over 3,900 new customers in Q1, bringing us to over 74,000 total customer accounts at Tableau."

He added:

Our first quarter was no different as we continue to see strong demand for Tableau from large organizations around the world. For example, this quarter a leading global travel company chose to standardize with Tableau as their analytics platform of choice. This company has licensed Tableau for their entire workforce, tens of thousands of employees. Tableau will help both frontline employees and executives drive faster time to insight without the complexities of them having to manage multiple BI vendors and deployment.
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