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No. of Recommendations: 9
If AYX was a great company pre-covid, why wouldn't it be great after covid?


If you're not judging high-growth software firms by their topline growth rates, how are you judging them?

Alteryx now expects Q3 revenue of $110-115M (+6% to +11% y/y) vs. consensus of $119.3M (+15% y/y) and full year revenue of $460-465M (+10 to + 11% y/y) vs. consensus of $504.9M (+21% y/y), respectively.

'Incremental takeaways from the call: 1) The company does not anticipate a “material improvement in business conditions in 2020.”
2) Supporting this viewpoint, Alteryx saw sales cycles elongate, initial lands turn smaller, and churn elevate in the quarter as a result of customers and prospects implementing higher levels of scrutiny across their spend.
3) Sales and marketing productivity declined for the quarter as the company re-adjusts to improving sales enablement in a remote environment.
4) Apart from net customer adds, which were down y/y to 271, a couple other metrics remained relatively resilient despite the confluence of headwinds: ARR grew +7.5% q/q and RPO grew +72%.
5) Full year revenue guidance implies a negative growth rate in Q4, something investors may not have conceived to be possible earlier in the year.'



It's not like they make money either, in fact, GAAP eps showed a loss of 53c versus a loss of 24c last Q.
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