Alteryx, Inc.

Thank you for standing by. This is the conference operator. Welcome to the Alteryx third quarter 2020 earnings conference call. As a reminder, all participants are in listen-only mode and the conference is being recorded. After the presentation, there will be an opportunity to ask questions. To join the questions here, you may press star then one on your telephone keypad. Should you need assistance during the conference, you may signal an operator by pressing star and then zero. I'd now like to turn the conference over to Chris Lyle, Chief Legal Officer. Please go ahead.

Thank you, Operator. Good afternoon, and thank you for joining us today to review Alteryx's third quarter 2020 financial results. With me on the call today are Mark Anderson, Chief Executive Officer, and Kevin Rubin, Chief Financial Officer. During this call, we may make statements related to our business that are forward-looking statements under federal securities laws. These statements are not guarantees of future performance. They are subject to a variety of risks and uncertainties. Our actual results could differ materially from expectations reflected in any forward-looking statement. For a discussion of the material risks and other important factors that could affect our actual results, please refer to our SEC filings available on the SEC's website and the Investor Relations section of our website, as well as the risks and other important factors discussed in today's earnings release. Additionally, non-GAAP financial measures will be discussed on today's conference call. A reconciliation of these measures to their most directly comparable GAAP financial measures can be found in today's earnings release. With that, I'd like to turn the call over to our Chief Executive Officer, Mark Anderson. Mark?

Thanks, Chris, and thank you so much for joining us on the call today. I sincerely hope that everyone continues to be healthy and safe during these challenging times. This is my first earnings call as the CEO of Alteryx. I'll start with a quick overview of our Q3 results and then share some of my observations for my first 30 days. I'll then outline what we believe is a massive market opportunity for us, highlight key customer trends, and then I'll share with you how I'm thinking about the next 90 days. Finally, I'll turn over the second half of the call to Kevin, and he'll walk you through the details of our quarter and our outlook for the rest of 2020. Overall, the team delivered solid results in our fiscal third quarter of 2020. We exited the quarter with approximately $450 million of ARR, up 38% year-over-year. We now have close to 7,000 customers across 90 countries, including 38% of the global 2,000. Our net extension rate was 124%, and an even stronger 135% in the global 2,000. Our balance sheet remains extremely strong, just under $1 billion of cash and equivalents. I'm proud of what the team has delivered in Q3 as they adjusted to evolving customer buying habits. I'm also impressed with how the team engages with customers by proactively sharing best practices and helping impacted people, departments, companies, and governments harness the power of the data that's exploding all around them and deliver improved business outcomes. I believe the need for our innovation has never been greater than it is today. In my first 30 days, I was fortunate to spend time with many of our key communities, including customers, partners, and all Trix associates. The enthusiasm and customer delight is just incredible. Digital transformation is our customers' number one priority, and according to IDC, over a trillion dollars is expected to be invested in data-related transformation initiatives. Alteryx has the innovation presented in an easy-to-use platform that is instrumenting these digital transformation journeys. We have a significant opportunity in front of us, as defined by the $49 billion total addressable market, and we believe we are still in the early stages of this explosion. I'm convinced that we will be one of the long-term winners in this space because we deliver tremendous business outcomes to our customers each and every day. We expect to share more thoughts on our addressable market and overall strategy next spring at our analyst day. Please stay tuned for more details. Now, as I dig in, it's clear that the Alteryx APA platform is a critical pillar of our customers' business transformation. Boy, I heard this loud and clear at our very first C-suite executive advisory forum, an event we hosted virtually a few weeks ago. This included approximately 30 C-level executives from global 2,000 customers around the world. During the forum, each customer shared their vision for transformation and detailed how integral our platform is to these efforts. The highlight for me was hearing Jonas Preising, the CEO of Manpower Group, speak to how important we are to his company and how progressively they are managing their data to put 600,000 people or more to work every single day. It was humbling. These businesses are not only upskilling knowledge workers to become citizen data scientists, but they're also increasingly leveraging analytics and automation to run smarter. They specifically called out these three trends. First, business transformation initiatives are being accelerated due to the COVID pandemic. Second, companies are struggling to leverage the massive influx of data cascading in and around their businesses every day. And third, legacy systems and manual processes are slowing down these transformations, often separating the winner's from the losers in this new age. These trends are real and align with the value that the Alteryx APA platform delivers. Now, turning to some highlights from Q3 customer activity, we continue to see many compelling COVID-specific use cases from customers as they seek to adjust and realign operations in response to the continued challenging market conditions. For example, in Q3, the FAA expanded its footprint with the Alterix platform in order to automate and speed up the critical transfer of data between existing systems. Alterix allowed them to eliminate manual processes and automate their workflows during the pandemic. A U.S.-based global airline, despite having reduced their workforce dramatically as a result of COVID, expanded their use of Alterix across 14 departments to optimize compensation, optimize staffing, understand the implications of new regulations, and identify cost savings across its operations. As transformation initiatives within the largest companies in the world accelerate, so does Alteryx's relevance. In Q3, a number of Global 2000 companies expanded their use of our platform across multiple lines of business. For example, a large drug wholesaler expanded their use of the Alteryx platform across over 10 business lines, including pricing, sales operation, tax, and financing. They're using the Alteryx platform to eliminate manual processes and drive critical business decisions around product profitability, lifecycle, and sales territory optimization. Ingersoll Rand is improving their bottom line performance by leveraging our platform for root cause analysis and inventory optimization. Not only did they see an 80% improvement in efficiency through automation, but they also rapidly upskilled their teams to use their words, They see the Alteryx automation as a game changer. I hear this time and time again. At Siemens Gas and Power, we earned the right to expand across multiple departments to significantly improve critical business processes and outcomes with pump surveillance and supplier analysis and cash flow optimization. These companies are instrumenting their business transformation with the Alteryx platform. Finally, we saw strength in the technology verticals. In Q3, we did business with world-class companies such as Amazon, Juniper, Intuit, Salesforce, Splunk, and Workday, just to name a few. We're humbled that some of the world's most innovative companies turned to Alteryx for advanced analytics. And speaking of innovation, our strategy is simple and consistent. We're focused on abstracting the complexity of analytics and data science to make it accessible to the tens of millions of citizen users who With our signature ease-of-use, no-code, low-code approach, going forward, our focus will be on improving our self-service and public cloud capabilities to reduce the friction of adoption. And, of course, we'll continue to work seamlessly with all types of data residing anywhere. What Dean, Libby, and Ned built here at Alteryx is incredible. Their legacy as innovators in this space is unrivaled. I'm incredibly honored to step in as CEO of to guide the company through the next few phases of our growth. Building and scaling world-class teams and evolving organizations to align with market trends and increasing customer demands is something that I'm not only passionate about, but it squarely leverages my experience. In my short time here, I've already identified a number of opportunities to simplify and streamline the current organization by building an execution framework to optimize resource allocation and expand global operations. This will allow us to deliver more innovation faster. It's a familiar playbook for me. Near term, of course, I'm focused on leading the team to a strong Q4 and a finish for 2020. At the same time, we're working on a solid plan for FY21 and beyond. I can assure you the next several months will be action-packed. In closing, I'm tremendously excited about leading Alteryx through the next few stages of growth. I'd like to thank all of our customers, partners, and associates for their commitment to Alteryx, and conviction in our ability to lead the category that we created and transform analytics, data science, and data-driven process automation. Now, let me turn the call over to Kevin to discuss our Q3 financial performance and our outlook for the remainder of the year. Kevin?