Quick post…at work so I need to do my actual job at some point.
Bert sent out some thoughts on DATA’s most recent quarter. I can’t emphasize strongly enough how valuable subscribing to Bert’s Ticker Target newsletter is. In general he takes a much deeper dive into the technology aspect of these businesses so it’s a great mix with the discussions we have here. Basically what I took from it is this:
Tableau Prep is NOT gaining the traction that the Tableau Bulls and AYX Bears were afraid of. DATA basically started the disruptive data visualization SaaS category, but I think AYX is showing more and more signs of disrupting Tableau.
DATA’s growing numbers are slowing, operating cash flow is declining, and their Net Rev Expansion is in the 90% range which means customers are spending less over time.
All of AYX’s numbers have been heading in opposite directions. I think their product and the Alteryx Community/Podcast they are growing are true differentiators in their business model.
It is increasingly more challenging to build a moat in today’s innovative, disruptive world, but a tribe/community of raving fans is a pretty strong moat. AYX is building just that.
One more sign of AYX’s strength is the partnerships we’re seeing between the two companies. For the last couple years, I think AYX needed the partnership more than Tableau did. However, I now believe the opposite is true.
I’m excited to see if Alteryx has benefited from Tableau’s struggles.