Product subscriptions have delivered impressive results for Tableau Software in their latest Q2 results.
Subscription revenue for Tableau was up 181 percent year-on-year in the company’s Q2 results to $291.3 million (£223.9 million).
Total annual recurring revenue for Tableau Software was also up 44 percent year-on-year to $697.7 million (£536.4 million).
The business intelligence software company has been on a high the past few months after recently acquiring AI-startup Empirical Systems while appointing Damon Fletcher as Chief Financial Officer.
Tableau Product Subscriptions Rising Revenues
One of the standout performances in Tableau’s Q2 results was its subscription revenues, which were up from the previous quarter.
In the company’s previous Q1 results, it delivered $237.5 million (£182.6 million) compared with the latest Q2 results of $291.3 million (£223.9 million).
Tableau Software had revised its pricing model towards a subscription model for its products (Tableau Creator, Tableau Explorer and Tableau Viewer) in April 2017.
The pricing for its main products ranged from $12 a month for Tableau Viewer to the more expensive Tableau Creator at $70 a month.
Total Recurring Revenue Also Up
Tableau Software had another reason to be cheerful as the company’s total recurring revenue also increased alongside subscription.
At the start of the year, the company reported in its Q1 2018 results was $641.9 million (£493.7 million). That revenue has gone up again to $697.7 million (£536.4 million).
Adam Selipsky, President and Chief Executive Officer, Tableau Software commented on Tableau’s Q2 results.
Selipsky said: “We saw strong customer demand for subscriptions in the second quarter, as shown by our 67 percent rateable license bookings mix,
“Our new Creator, Explorer and Viewer subscription offerings have made it even easier for our customers to buy and scale Tableau, as more and more organizations look to deploy self-service analytics with tailored solutions for every user.”
