Tableau Software Commits to Massive R&D Investment
Tableau Software held its seventh annual customer and partner conference in Seattle last week. The company, whose data visualization software continues to disrupt the traditional business intelligence market, is growing rapidly on all fronts. For the quarter finished June 30, 2014, the company posted a year-over-year revenue increase of 82% with just over $90 million in revenue. It added 2,200 new customers during the quarter, putting total customer count at 21,000 plus. Headcount was up 62% year-over-year to 1,532 employees worldwide.
Tableau’s continued growth prospects are extremely good and the company continues to invest heavily in research & development, sales and administration to capitalize on strong demand, particularly internationally. As a result, the company’s net operating income for the quarter was -$4 million. Investors should expect more of the same for the foreseeable future. During his keynote address to conference attendees at Tableau Conference, Tableau CEO Christian Chabot pledged to invest more in R&D over the next two years than the company has invested in the last 10 years (Tableau was founded in 2003.) For context, since going public in May 2013, the company has spent nearly $96 million on R&D on total revenue of $358 million.
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