SEC Comment Letter 0000000000-23-002635 to Alteryx, Inc. (CIK 0001689923)
Alteryx, Inc. (CIK 0001689923)
Date: March 16, 2023 · CIK: 0001689923 · Accession: 0000000000-23-002635
AI Filing Summary & Sentiment
File numbers found in text: 001-38034
Letter
United States securities and exchange commission logo March 16, 2023 Kevin Rubin Chief Financial Officer Alteryx, Inc. 17200 Laguna Canyon Road Irvine, California, 92618 Re:Alteryx, Inc. Form 10-K for the Year Ended December 31, 2022 Filed on February 10, 2023 File No. 001-38034 Dear Kevin Rubin: We have limited our review of your filing to the financial statements and related disclosures and have the following comments. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure. Please respond to these comments within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe our comments apply to your facts and circumstances, please tell us why in your response. After reviewing your response to these comments, we may have additional comments. Form 10-K for Fiscal Year Ended December 31, 2022 Managements Discussion and Analysis of Financial Condition and Results of Operations Key Business Metrics Annual Recurring Revenue, page 73 1.We note your measure of annualized recurring revenue includes contracts with terms less than one year which are annualized by dividing the total committed contract value by the number of months in the subscription term and then multiplying by twelve. It is unclear how annualizing the value of these short-term contracts results in a measure that accurately depicts annual recurring revenue. Considering you calculate annual recurring revenue based upon annualized contract value and not GAAP revenue, please rename this measure to more appropriately reflect what it represents. Also, clearly state that your methodology results in a measure that includes an amount from short-term contracts in excess of the total contract value.
FirstName LastNameKevin Rubin Comapany NameAlteryx, Inc. March 16, 2023 Page 2 FirstName LastName Kevin Rubin Alteryx, Inc. March 16, 2023 Page 2 2.We note you exclude "the value of non-recurring revenue streams, such as certain professional services" from your calculations of annual recurring revenue. Please clarify in your disclosures if you exclude all revenue that is recognized at the point in time and advise us. In closing, we remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff. You may contact Joseph Kempf, Senior Staff Accountant, at 202-551-3352, or Robert Littlepage, Accountant Branch Chief, at 202-551-3361 with any questions. Sincerely, Division of Corporation Finance Office of Technology cc: Chris Lal
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United States securities and exchange commission logo
March 16, 2023
Kevin Rubin
Chief Financial Officer
Alteryx, Inc.
17200 Laguna Canyon Road
Irvine, California, 92618
Re:Alteryx, Inc.
Form 10-K for the Year Ended December 31, 2022
Filed on February 10, 2023
File No. 001-38034
Dear Kevin Rubin:
We have limited our review of your filing to the financial statements and related
disclosures and have the following comments. In some of our comments, we may ask you to
provide us with information so we may better understand your disclosure.
Please respond to these comments within ten business days by providing the requested
information or advise us as soon as possible when you will respond. If you do not believe our
comments apply to your facts and circumstances, please tell us why in your response.
After reviewing your response to these comments, we may have additional comments.
Form 10-K for Fiscal Year Ended December 31, 2022
Managements Discussion and Analysis of Financial Condition and Results of Operations
Key Business Metrics
Annual Recurring Revenue, page 73
1.We note your measure of annualized recurring revenue includes contracts with terms less
than one year which are annualized by dividing the total committed contract value by the
number of months in the subscription term and then multiplying by twelve. It is unclear
how annualizing the value of these short-term contracts results in a measure that
accurately depicts annual recurring revenue. Considering you calculate annual recurring
revenue based upon annualized contract value and not GAAP revenue, please rename this
measure to more appropriately reflect what it represents. Also, clearly state that your
methodology results in a measure that includes an amount from short-term contracts in
excess of the total contract value.
FirstName LastNameKevin Rubin
Comapany NameAlteryx, Inc.
March 16, 2023 Page 2
FirstName LastName
Kevin Rubin
Alteryx, Inc.
March 16, 2023
Page 2
2.We note you exclude "the value of non-recurring revenue streams, such as certain
professional services" from your calculations of annual recurring revenue. Please clarify
in your disclosures if you exclude all revenue that is recognized at the point in time and
advise us.
In closing, we remind you that the company and its management are responsible for the
accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or
absence of action by the staff.
You may contact Joseph Kempf, Senior Staff Accountant, at 202-551-3352, or Robert
Littlepage, Accountant Branch Chief, at 202-551-3361 with any questions.
Sincerely,
Division of Corporation Finance
Office of Technology
cc: Chris Lal