AYX - What Is Alteryx's Competitive Advantage?
Big data analytics specialist Alteryx (NYSE: AYX) has been on a tear to start 2020. At first glance, it's not difficult to understand why.
Alteryx is a leading software company in the field of big data analytics. This sector is one of the hottest in the technology market, as businesses ranging from healthcare to retail to oil and gas are finding new and innovative insights from their vast troves of data. Yet despite the growth and importance of the sector, not all big data analytics companies are thriving. However, Alteryx is certainly one of the winners.
The company just capped off a mighty strong year in which revenue grew a whopping 65%. That includes a 130% expansion rate, meaning existing customers augmented their spending by 30% relative to last year. The company also added 30% new customers, including several leading household names. Finally, Alteryx is actually profitable, with $27.1 million in net income and $64.6 million in non-GAAP (generally accepted accounting principles) net income in 2019 -- a rarity for many high-growth software companies.