No. of Recommendations: 3
TexMex, I think you've gotten some good answers from Ethan and Dan (SettingDTone). Alteryx has stressed that they are concentrating on Global 2000 companies at this point, and that they feel as if a good portion of their Total Addressable Market resides there. I think they are nearing a 30% penetration rate in terms of getting their first sale at these companies. They've also indicated, though, that they feel as if they still have plenty of room for expansion even in many of their most deeply-penetrated customers. As I said earlier, I do intend to ask about customer count growth.

Issue with AYX is they do not tell us if their larger customers are growing at a faster rate than overall or have more room to grow. SMAR, DOCU, SQ do. Here is the following from SMAR CC.

We continue to see very strong growth in our larger customers with 6,192 now paying us $5,000 or more per year and 444 now paying us $50,000 or more per year. These customer segments grew year-over-year by 63% and 135%, respectively, and now represent approximately 66% and 27% of total ACV.

So, larger customers growing faster

Yes. So Mark, one of the real blessings of the company is, even though we did see a 50% step up in ACV, the number is still tiny. I mean, we're taking $2,500 on average. So the opportunity for us to really reach the full potential with an account, we were talking orders of magnitude, not order of magnitude.

And it's our job now to help enroll people on what's possible and help them reach that. And we have high watermark now. We have, as Jenny has now reported out, we are tracking over $100,000 contribution from customers. We have customers over $0.5 million. We have customers over $1 million. So when you see these high watermarks within the organization, that is really the pacesetter for the organizations ahead, we should not settle for a $20,000 account.

More room to run.

From Docu CC

They have been highly effective at this, growing the number of customers we have with ACV over $300,000 by 50% in fiscal '19.

Even SQ breaks out the numbers to show that GPV from larger sellers is rising faster. It would be nice to get confirmation that AYX is also growing their larger customers faster or have more room to grow in their larger customers.
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