Tableau Software’s revenue grew at a rapid clip during the first quarter, but the Seattle maker of data visualization products also swung to a net loss, according to an updated IPO filing released Friday afternoon.
Tableau — which filed to raise up to a $150 million in an IPO earlier this month — posted a net loss of $3.7 million on revenue of $40 million during the first quarter. That compared to net income of $1 million on revenue of $17.4 million for the same period last year.
The net loss marks the second consecutive quarter in which Tableau — which is looking to trade on the New York Stock Exchange under the ticker DATA — was unprofitable.
“While we have achieved profitability on an annual basis over the past three years, we have not consistently achieved profitability on a quarterly basis during that same period,” the company wrote in the SEC filing today. “We expect expenses to increase substantially in the near term, particularly as we make significant investments in our sales and marketing organization, expand our operations and infrastructure both domestically and internationally and develop new products and new features for and enhancements of our existing products.”
Tableau is angling to become the first Seattle area tech company to go public since Zillow’s public offering in July 2011.
Previously on GeekWire: Perseverance and patience: How Tableau made the IPO leap after 10 years
Editor’s note: Tableau is a GeekWire annual sponsor.