AYX analyst day etc

Investment Analysis Clubs Saul’s Investing Discussions
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AYX just finished their Analyst day. I couldn’t listen to it but the slide deck has some interesting little tidbits.

AYX has a NER(net expansion ratio) of 134% overall but 143% with global 2000 customers which is pretty crazy.

CUstomers with >500,000 dollar annual recurring revenue (ARR) have a 70% increase per year!!! That is an insane number. Above 1 million, 50% increase.

We have talked about this before but they list their growth drivers as.
Land and expand
International
Channel and partner ecosystem
Community expansion and extension
Innovation

They really harped how Alteryx simplifies and automates complex processes They identify their ease of use as the # 1 reason people choose Alteryx. If you look at the Gartner peer review website you will see similar things in the reviews. AYX put out some long term financial operating models for the first time. Long term goals of.


            


            

              
              
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Ethan, yes, the investor deck looks really good.

Most striking to me was how quickly AYX is going to large positive FCF latest quarter (~19%) and they are upping the ante on commitment to grow it further… (though not sure when, their long term growth has comment on it as “balanced growth”)


On the share count and convertible, here are my thoughts.


Assuming its practically dilutes to 67.8M.

62.5M shares + 2M (5.2M convertibles ready to convert + capped calls) + 3.3M options


The 5.2M convertibles have capped calls to counter balance - therefore, reducing impact to 2M as place holder. I am not sure if there is any way to calculate potential dilution… hopefully capped call means dilution <2M shares.


Not accounting for unvested RSUs.

            


            

              
              
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This could get momentum going for AYX similar to how Oktane pushed OKTA months ago.

            


            

              
              
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