Alteryx Rides Wave Of Tech Debuts

Alteryx, Inc. (AYX), a provider of self-service data analytics software, is the latest tech company to go public in March.

Alteryx said it has priced its IPO of 9 million shares of its Class A common stock at $14 per share, at the top end of its range of $12 to $14 per share. The company will raise $126 million from the offering.

All of the shares in the offering are being offered by Alteryx. In addition, the company has granted the underwriters a 30-day option to purchase up to an additional 1.35 million shares at the IPO price.

The shares are expected to begin trading on the New York Stock Exchange under the symbol “AYX” on March 24, 2017.

Goldman, Sachs & Co. and J.P. Morgan Securities LLC are acting as joint book-running managers for the offering.

Alteryx said that as of December 31, 2016, it had over 2,300 customers in more than 50 countries, including over 300 of the Global 2000 companies. The company lists Ford Motor, Kaiser Foundation Health Plan, Knight Transportation, Nike, and Southwest Airlines Co. among its customers.

For the fiscal year ended December 31, 2016, Alteryx reported net loss of $24.3 million that widened from $21.5 million in the prior year. However, revenue for the year grew 59 percent to $85.8 million from $53.8 million last year.

The company’s investors include Insight Venture Partners, ICONIQ Capital and Sapphire Ventures.

Alteryx follows enterprise-focused business MuleSoft Inc. (MULE), which went public on the New York Stock Exchange earlier this month.

In early March, Snap Inc. (SNAP), the parent company of the popular messaging app Snapchat, also made a strong debut on the NYSE. However, its shares have struggled after the debut.

Other venture-backed tech companies like Yext, Okta, ForeScout and Cloudera are also planning to brave the markets in the coming months.

by RTT Staff Writer

For comments and feedback: [email protected]

Business News

Read the full article from the Source…

Back to Top