Tableau Software Inc (DATA) saw its loss widen to $54.65 million, or $0.71 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $45.58 million, or $0.62 a share. On an adjusted basis, net loss for the quarter was $2.10 million, when compared with net profit $0.36 million in the last year period. Revenue during the quarter grew 16.43 percent to $199.91 million from $171.70 million in the previous year period. Gross margin for the quarter contracted 23 basis points over the previous year period to 86.67 percent. Operating margin for the quarter stood at negative 26.77 percent as compared to a negative 27.01 percent for the previous year period.
Operating loss for the quarter was $53.51 million, compared with an operating loss of $46.38 million in the previous year period.
However, the adjusted operating loss for the quarter stood at $4.22 million compared to operating loss of $1.16 million in prior year period.
"Customers enthusiastically embraced our subscription licensing offerings in Q1, as reflected in our 26% ratable license bookings mix," said Adam Selipsky, president and chief executive officer of Tableau. "Subscription reduces risk for our customers, lowers their upfront investment and we expect will lead to higher demand for Tableau over time."
Operating cash flow improves significantly
Tableau Software Inc has generated cash of $84.50 million from operating activities during the quarter, up 124.04 percent or $46.78 million, when compared with the last year period. The company has spent $23.24 million cash to meet investing activities during the quarter as against cash outgo of $30.05 million in the last year period.
The company has spent $15.70 million cash to carry out financing activities during the quarter as against cash inflow of $3.99 million in the last year period.
Cash and cash equivalents stood at $954.65 million as on Mar. 31, 2017, up 18.15 percent or $146.65 million from $808 million on Mar. 31, 2016.
Working capital increases
Tableau Software Inc has recorded an increase in the working capital over the last year. It stood at $715.22 million as at Mar. 31, 2017, up 9.28 percent or $60.76 million from $654.46 million on Mar. 31, 2016. Current ratio was at 2.80 as on Mar. 31, 2017, down from 3.32 on Mar. 31, 2016.
Days sales outstanding went down to 59 days for the quarter compared with 64 days for the same period last year.
At the same time, days payable outstanding went down to 6 days for the quarter from 11 for the same period last year.
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