Alteryx falls after rev miss, downbeat Q2 forecast

Alteryx

28/04/2023 14:00

** Shares of software firm Alteryx Inc  AYX.N  down 17.9% at
$41.89 premarket
    ** Posts Q1 rev of $199.1 mln slightly below est. of $200.1
mln
    ** Says elevated deal scrutiny following regional banking
crisis toward end of Q1, longer sales cycles, shorter contract
duration weighed on Q1 rev
    ** Sees Q2 adj loss/shr of $0.65-$0.69 vs est. of loss/shr
of $0.53 - Refinitiv data
    ** Forecasts Q2 rev of $180 mln-$184 mln, slightly below
estimates of $184.9 mln assuming slight decline in contract
duration y-o-y
    ** Announces workforce reduction plan of ~11% aimed at
reducing oper. cost, improving oper. margins
    ** Up to last close, stock had risen 0.69% so far this year

 (Reporting by Ashwini Raj in Bengaluru)
 ((Ashwini.Raj@thomsonreuters.com))