According to a recent report published by SBWire, the global Data Visualization Applications Market is currently growing at an annualized rate of 10% each year. The market growth is driven by escalation in big data, advancements in visualization software, and the increasing need for faster decision making. Another report published earlier this year estimates the data visualization market to grow to $7.7 billion by 2023, growing 22% annually. But despite the steady growth rate, Tableau’s (NYSE: DATA) recently reported quarterly results failed to impress the market.
Tableau’s Financials
Tableau’s third-quarter revenues came in at $239.6 million, missing the Street’s forecast of $242.8 million. The company ended the quarter with a net loss of $71.3 million, compared with a loss of $46.6 million reported a year ago. On a per-share basis, it had a loss of 86 cents. Adjusted EPS came in at $0.07 which was better than the market’s forecast of a loss of $0.10 per share.
By segment, revenues from the licensing segment grew 19% over the year to $118 million. Maintenance and service revenues grew 5% over the year to $121.6 million.
Tableau’s Product Expansion
During the quarter, Tableau remained focused on driving product innovation. It is currently working on a feature called Ask Data that leverages natural language processing to help people ask questions about their data in an intuitive, conversational manner.
Another feature is currently in the beta stage of testing. Some of the other features in beta stage include the Tableau Prep Conductor, part of the Tableau Prep service launched earlier this year. Tableau Prep is a data preparation product designed to allow customers to quickly combine, shape and clean their data, further reducing the time from data to insight. Tableau Prep Conductor provides them with a scalable, reliable, and secure server environment to run these Tableau Prep flows.
