Tableau Software Loss Narrower To Street; Stock Up 8% - Update

(RTTNews) - Tableau Software Inc (DATA) Monday reported a wider net loss for the first quarter, hurt by increased stock-based compensation expense and other costs. Revenue meanwhile increased as the company expanded its customer base. However, loss for the quarter was lower compared to Wall Street estimates with revenues surpassing expectations.

Investors cheered the announcement and Tableau shares gained over 8 percent in after-hours trade on the Nasdaq.

"We added over 1,800 new customer accounts, and continued to see adoption expand within our existing customers," said the company's CEO Christian Chabot.

Tableau posted first-quarter net loss of $5.6 million or $0.09 per share, compared with a loss of $4 million or $0.12 per share last year. Loss-per-share results for the recent quarter reflect a higher share count.

Results for the quarter included stock-based compensation expense of over $5 million, compared with $2 million a year ago.

Excluding items, adjusted loss for the quarter was $0.4 million or $0.01 per share, compared with a loss of $1.8 million or $0.05 per share a year ago.

Tableau helps customers to quickly analyze, visualize and share information.

The Seattle, Washington-based company's revenues for the quarter surged 86 percent at $74.6 million, compared with $40 million in the prior year.

Analysts polled by Thomson Reuters estimated a loss of $0.11 per share on revenues of $63 million for the quarter. Analysts' estimates typically exclude special items.

Results were impacted by operating expenses that escalated to $69 million from $42 million last year, as it expended on sales, research and other overheads. Income tax for the quarter was $3.5 million, compared to a benefit of $1.8 million a year ago.

During the quarter, the company announced a strategic technology alliance with Splunk to leverage the power of visual analytics and real-time machine data.

Tableau Software stock closed Monday at $57.99, down $0.47 or 0.80%, on a volume of 3.7 million shares on the Nasdaq. In after hours, the stock gained $4.86 or 8.38% at $62.85.