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On the heels of its 2014 earnings announcement, Tableau today shared additional figures on the record growth of its business analytics products. After five years of exponential growth, the company reached $913 million in lifetime global revenue–$413 million of which was generated in 2014. With that achievement, Tableau has become one of the fastest-growing companies in the 50-year history of business analytics software.
Tableau’s growth was also driven by tremendous international expansion in 2014, including in Latin America. Revenue growth in 2014 for the Latin America region (LATAM) was over 120 percent. The company added 500 new customer accounts in the region last year, bringing its total to more than 1,200. Growth was especially strong in Brazil and Mexico, which added the most new customer accounts of any countries in the region.
“In the average week more than 150 organizations are moving to the Tableau way,” said Christian Chabot, CEO and Co-founder of Tableau. “People are looking for analytics technology that is fast, easy, and for everyone. They want to put the power of data into the hands of people at all levels of their companies. We saw the strongest demand we’ve ever seen in our history, making 2014 a tipping point year for Tableau.”
Tableau’s mission to help people see and understand data has come to define a new era of analytics. Its accelerated growth comes as data generation around the world has exploded and the skill to analyze it has become critical. Customers call Tableau smart and fun–a far cry from the complicated business intelligence systems of the prior era.
Tableau has more than 26,000 customer accounts in 150 countries worldwide, more than half of which reported triple-digit growth in 2014. Internationally, Tableau has seen revenue growth of over 100 percent for four consecutive years.
DIRECTV Colombia, part of the world’s largest satellite television system, generates hundreds of millions of data records every year. Before adopting Tableau, The company’s analysts used SQL queries and Excel spreadsheets to answer questions, a belabored and long process. With Tableau, this process is much faster. “On a daily basis we can now do a lot more analysis, more in-depth analysis, because we have more time. We have added value to the business,” said José Rafael Casas Arboleda, Manager, Marketing Decision Analytics at DIRECTV Colombia.
Itaú is the largest private bank in Latin America with more than 96,000 employees and operations in 20 countries. Itaú has standardized on Tableau enterprise-wide for business intelligence and analytics. Tableau is the new standard for data discovery, visualization, analysis, and self-service at the bank.
Additional organizations using Tableau in Latin America include Mexican beer brand Modelo, building materials supplier CEMEX, and the Spanish banking group Banco Santander.
The company’s product innovation continues at a pace seldom seen in enterprise software companies. In 2014, Tableau spent $90 million(1) on research and development, more than in the previous two years combined. Dr. Forest Baker, Tableau Board Member and General Partner at New Enterprise Associates, notes, “Tableau’s R&D investment ratio is among the highest of all public technology companies. They have an inspiring commitment to research and innovation, and their best years are in front of them.” Tableau grew its headcount by 735, including growing its research and development team by 50 percent. As of the year-end 2014, its total headcount is now 1,947.
Tableau was founded in 2003 by two Stanford University students and a professor. Since basing its first operations out of a Seattle bedroom, Tableau has grown into a publicly-traded concern on the New York Stock Exchange.
Tableau (NYSE: DATA) helps people see and understand data. Tableau helps anyone quickly analyze, visualize and share information. More than 26,000 customer accounts get rapid results with Tableau in the office and on-the-go. And tens of thousands of people use Tableau Public to share data in their blogs and websites. See how Tableau can help you by downloading the free trial at www.tableau.com/trial.
This press release contains “forward-looking” statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the company’s business momentum, including revenue growth, customer account growth, hiring, pace of innovation, research and development investment, sector growth, and overall expansion globally. These statements are not guarantees of future performance, but are based on management’s expectations as of the date of this press release and assumptions that are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements. Important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements include the following: risks associated with anticipated growth in Tableau’s addressable market; competitive factors, including changes in the competitive environment, pricing changes, sales cycle time and increased competition; Tableau’s ability to build and expand its direct sales efforts and reseller distribution channels; general economic and industry conditions, including expenditure trends for business intelligence and productivity tools; new product introductions and Tableau’s ability to develop and deliver innovative products; Tableau's ability to provide high-quality service and support offerings; risks associated with international operations; and macroeconomic conditions. These and other important risk factors are described more fully in documents filed with the Securities and Exchange Commission, including Tableau’s most recently filed Quarterly Report on Form 10-Q and Annual Report on Form 10-K and other reports and filings with the Securities and Exchange Commission, and could cause actual results to vary from expectations. All information provided in this release is as of the date hereof and Tableau undertakes no duty to update this information except as required by law.
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(1)Represents non-GAAP research & development expense. The figure excludes $20.8 million of stock-based compensation expense. The definition and reconciliation of non-GAAP measures can be found at http://investors.tableau.com/overview/default.aspx.