I think someone mentioned that the AYX earnings call was scheduled for 2/20/2019 (tomorrow). This is not correct. The earnings call has not yet been scheduled. I emailed IR last week to ask when their earnings call would be. The response from IR was that they would issue a PR when the earnings call is scheduled. It is possible that the person who thought the earnings call would be on 2/20 was using the estimate from YahooFinance (based on last year’s Q4 earnings release date). I suspect the “delay” compared to last year’s Q4 earnings release date is due to the switch from PwC to Deloitte.
congrats Chris on going to the source for information rater than depending on the media like the rest of us did.
Usually a “delayed” earnings report is bad news. Often a “change of auditors” is also bad news.
So I hope it is different this time, that the change is indeed due to reasons stated by the company . If so it is actually good news that using /distributing Alteryx software is more profitable than auditing. Your reason for a “delay” ( if any) makes sense .
The management team continues to drop the ball in my opinion.
First we have the auditor change (and earnings preview) announced in a SEC document, not a press release.
Then we have the CMO leaving (terminated I guess) with a 9 month severance package, announced in another SEC document, no press release.
And now we have the earnings going to be released later than normal. It makes sense that would be necessary, with a new auditor, but wouldn’t you put out a press release explaining why and that is no big deal?
It appears that they are just running this company on the fly with no planning.
It takes a completely different skill set to run a company that does $100m in sales vs $1B. Hopefully they can get their act together and their product is good enough to overcome any management issues.
It’s almost like they need an experienced CEO to come in.
The management team continues to drop the ball in my opinion.
First we have the auditor change (and earnings preview) announced in a SEC document, not a press release.
Then we have the CMO leaving (terminated I guess) with a 9 month severance package, announced in another SEC document, no press release.
And now we have the earnings going to be released later than normal. It makes sense that would be necessary, with a new auditor, but wouldn’t you put out a press release explaining why and that is no big deal?
It appears that they are just running this company on the fly with no planning.
It takes a completely different skill set to run a company that does $100m in sales vs $1B. Hopefully they can get their act together and their product is good enough to overcome any management issues.
It’s almost like they need an experienced CEO to come in.
I think you may be looking for reasons to confirm a bias. They pre-announced in January that they will hit $59M in sales this Q. That’s 53% Y/Y. And provided what could be a satisfactory reason for a delay.
The market responded by initially dropping the stock by a few percent, then made an all time high a few days later. Currently sits a few bucks above the pre-announcement date.
Continuing rev growth at 50%+ growth does not sound like they are running on the fly or need to get their act together. But just my opinion. I do look forward to an earnings date announcement, which has typically been released 30 days prior.
also, they are required to announce an auditor change in an SEC document, so that seems like a strange thing to penalize them for. Could they have also put out a press release, sure yes, but do most shareholders really care which audit firm a company is using as long as it’s still among one of the “Big Four” firms? Probably not, so probably not worth spending the money to put out a press release, as long as there is no bad reason why the old firm had to resign.
To expect a new audit firm to get up to speed on the company and be ready to sign off on their financials in such a short time their first year would not really be realistic. My guess is that management wants to put out earnings as soon as possible, but at the same time, does not want to announce one date and then have to push it back later, so they are just waiting until the timing is pretty certain. Unfortunately, having worked with many audit firms in the past, I know that it is difficult to get them to guarantee certain timing unless it is a company they have dealt with in previous years and already have a lot of history with. Something as simple as trying to schedule timing for the new firm to review the old firm’s workpapers (which always happens when auditor change) could be particularly challenging given that it is the heart of their busy season right now.
So I’m not overly concerned about these details, as long as their performance continues to be strong
AYX must have had an inclination that their earnings maybe delayed. Hence the early announcement about their Q performance along with the auditor change. I wondered why they announced early as companies do that typically when there is bad news. Now it makes sense. I don’t think the delay is a concern.