Tableau Software today reported $149.9 million in revenue, a 65 percent increase over the same period last year as the company added 3,000 new customers. That beat analysts expectations of $141 million, but it was a slower growth rate than the first quarter when Tableau saw revenues increase by 75 percent.
Tableau Software Chief Financial Officer Tom Walker assured analysts in today’s conference call that investors should not be worried about the slower growth rate, noting that the company is still growing fast with a record number of accounts added and that it exceeded guidance, which was set at a 54 percent growth rate.
Even so, shares of Tableau were down more than 13 percent in pre-market trading, and the stock continued to slump after the markets opened, down more than 19 percent as of 7 a.m. The stock is up about 50 percent this year.
International revenues represented 25 percent of Tableau’s overall revenue, or $36.7 million. Hosting the earnings call from London, CEO Christian Chabot called it a “strong quarter” with “record customer growth and product adoption.” He said the company continues to expand its footprint overseas, announcing plans to open a new data center in Europe by the end of the year.
Chabot said it seemed like an impossible thing to do just three to four years ago to grow international revenue to 25 percent, but the company has just seen “good news after good news” in markets overseas. He added that “there is a lot of opportunity in front of us.”
“Transforming Tableau from a U.S.-focused tech company into what will be a major global concern has started to become one of the fun and energizing parts of the Tableau journey for people at the company,” said Chabot, who has spent the past year in London.
Tableau is facing a threat from Microsoft, which recently announced its new Power BI product. In today’s call, Chabot addressed Microsoft, noting that it has been a “fierce competitor” since the very early days, though that competition has ebbed and flowed over the years.
“We have not seen a change in the competitive dynamic,” said Chabot in a response to a question about Microsoft. He later added that Tableau remains the “gold standard” in how enterprise software is built, calling it the “shining example” of visual systems created for everyone.
The Seattle maker of data visualization tools is growing fast, adding a record 271 net new hires during the quarter. That was up 61 percent year-over-year, with Tableau now employing 2,463 people worldwide.
The company earlier this month announced a huge lease for a new office building in Seattle’s Fremont neighborhood, with room for as many as 1,300 employees.
During the quarter, Tableau reported an operating loss of $18 million, compared to an operating loss of $4.1 million for the second quarter of 2014. The GAAP net loss for the second quarter increased to $19 million, compared to a $4.6 million loss during the second quarter last year.