Content analysis
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Legalese | ||
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H.S. sophomore Good
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New words:
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Financial report summary
?Competition
Microsoft • Sap SE • Microstrategy Inc. - Ordinary Shares • Oracle • Domo Inc. - Ordinary SharesRisks
- Failure to complete, or delays in completing, the potential merger with Salesforce announced on June 9, 2019 could materially and adversely affect our results of operations and our stock price.
- Uncertainty about the Merger may adversely affect relationships with our customers, suppliers, and employees, whether or not the Merger is completed.
- If the Merger is consummated, the combined company may not perform as we or the market expects, which could have an adverse effect on the price of Salesforce common stock, which our current stockholders will own following the completion of the Merger.
- The transaction consideration is fixed and will not be adjusted. Because the market price of Salesforce common stock may fluctuate, Tableau stockholders cannot be sure of the market value of the stock consideration they will receive in exchange for their Tableau shares in connection with the transactions.
- Additional lawsuits may be filed against us and the members of our board of directors arising out of the proposed merger, which may delay or prevent the proposed merger.
- Due to our growth, we have a limited operating history at our current scale, which makes it difficult to evaluate our future prospects and may increase the risk that we will not be successful.
- If we fail to successfully manage the transition to a subscription-based business model, our results of operations could be negatively impacted.
- We derive substantially all of our revenues from a limited number of software products.
- If our new products and product enhancements do not achieve sufficient market acceptance, our results of operations and competitive position will suffer.
- We face intense competition, and we may not be able to compete effectively, which could reduce demand for our products and adversely affect our business, growth, revenues and market share.
- Our success depends on increasing the number and value of enterprise sales transactions, which typically involve a longer sales cycle, greater deployment challenges and additional support and services than sales to individual purchasers of our products.
- We may not be able to sustain or increase our revenue growth rate, the growth rate of our customer base or achieve profitability in the future.
- Interruptions or performance problems associated with our technology and infrastructure, including those caused by cyber-attacks, may adversely affect our business and results of operations.
- Real or perceived errors, failures, bugs or security flaws in our software could adversely affect our results of operations and growth prospects.
- If we are unable to identify, attract, integrate and retain qualified personnel, including executive, top sales and technical talent, our business could be adversely affected.
- We are dependent on the continued services and performance of our senior management and other key personnel, the loss of any of whom could adversely affect our business.
- As customers demand products that provide business analytics delivered via a SaaS model, our business could be adversely affected.
- Our success is highly dependent on our ability to further penetrate the existing market for business analytics software as well as the growth and expansion of that market.
- Our quarterly results of operations may fluctuate significantly due to a wide range of factors, which makes our future results difficult to predict.
- Our growth depends on being able to expand our direct sales force successfully.
- We have been growing and expect to continue to invest in our growth for the foreseeable future. If we fail to manage this growth effectively, our business and results of operations will be adversely affected.
- If we are unable to attract new customers and expand sales to existing customers, both domestically and internationally, our growth could be slower than we expect and our business may be harmed.
- Our international operations subject us to potentially adverse tax consequences.
- Breaches in our security, cyber-attacks or other cyber-risks could expose us to significant liabilities and cause our business and reputation to suffer.
- Our failure to adequately protect personal or sensitive information or to comply with data protection laws could have a material adverse effect on our business.
- Our products use third-party software and services that may be difficult to replace or cause errors or failures of our products that could lead to a loss of customers or harm to our reputation and our operating results.
- If we cannot maintain our corporate culture as we grow, we could lose the innovation, teamwork, passion and focus on execution that we believe contribute to our success, and our business may be harmed.
- Our success depends on our ability to maintain and expand our indirect sales channels.
- Our long-term growth depends in part on being able to expand internationally on a profitable basis.
- We are obligated to develop and maintain proper and effective internal control over financial reporting. These internal controls may not be determined to be effective, which may adversely affect investor confidence in our company and, as a result, the value of our Class A common stock.
- Our business is highly dependent upon our brand recognition and reputation, and the failure to maintain or enhance our brand recognition or reputation would likely adversely affect our business and results of operations.
- Economic uncertainties or downturns could materially adversely affect our business.
- Failure to protect our intellectual property rights could adversely affect our business.
- We may be subject to intellectual property rights claims by third parties, which are extremely costly to defend, could require us to pay significant damages and could limit our ability to use certain technologies.
- Our use of open source software could negatively affect our ability to sell our software and subject us to possible litigation.
- We are and may be subject to disputes and litigation for a variety of claims, which could adversely affect our results of operations, harm our reputation or otherwise negatively impact our business.
- Our success depends in part on maintaining and increasing our sales to customers in the public sector.
- Acquisitions could disrupt our business and adversely affect our results of operations, financial condition and cash flows.
- Governmental export or import controls could limit our ability to compete in foreign markets and subject us to liability if we violate them.
- Determining our income tax rate is complex and subject to uncertainty.
- We may have additional tax liabilities, which could harm our business, operating results, financial condition and prospects.
- Our tax rate may vary significantly depending on our stock price.
- Natural or man-made disasters and other similar events may significantly disrupt our business and negatively impact our results of operations and financial condition.
- Changes in financial accounting standards may cause adverse and unexpected impacts to our reported results of operations and financial condition.
- If currency exchange rates fluctuate substantially in the future, the results of our operations, which are reported in U.S. dollars, could be adversely affected.
- Adverse economic or market conditions may harm our business or impact our investment portfolio.
- We may require additional capital to fund our business and support our growth, and our inability to generate and obtain such capital on acceptable terms, or at all, could harm our business, operating results, financial condition and prospects.
- Our stock price has been and will likely continue to be volatile or may decline regardless of our operating performance, resulting in the potential for substantial losses for our stockholders.
- Substantial future sales of shares of our Class A common stock could cause the market price of our Class A common stock to decline.
- Future sales and issuances of our capital stock or rights to purchase capital stock could result in dilution of the percentage ownership of our stockholders and could cause our stock price to decline.
- If securities or industry analysts do not publish research or reports about our business, or publish negative reports about our business, our share price and trading volume could decline.
- The dual class structure of our common stock and the existing ownership of capital stock by our founders have the effect of concentrating voting control with our founders for the foreseeable future, which will limit the ability of our other investors to influence corporate matters.
- The requirements of being a public company may strain our resources, divert management's attention and affect our ability to attract and retain additional executive management and qualified board members.
- We do not intend to pay dividends for the foreseeable future.
- Our share repurchase program may not achieve its objective to enhance long-term stockholder value and could increase the volatility of our stock price.
- Anti-takeover provisions in our charter documents and under Delaware law could make an acquisition of our company more difficult, limit attempts by our stockholders to replace or remove our current management and limit the market price of our common stock.
Management Discussion
- ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
- You should read the following discussion and analysis of our financial condition and results of operations in conjunction with the condensed consolidated financial statements and notes thereto included elsewhere in this report and in our Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on February 22, 2019.
- This report contains forward-looking statements that involve risks and uncertainties. Our actual results could differ materially from those discussed in the forward-looking statements. The statements contained in this report that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Forward-looking statements are often identified by the use of words such as, but not limited to, "anticipate," "believe," "can," "continue," "could," "estimate," "expect," "intend," "may," "plan," "project," "seek," "should," "strategy," "target," "will," "would" and similar expressions or variations intended to identify forward-looking statements. These statements are based on the beliefs and assumptions of our management based on information currently available to management. Such forward-looking statements are subject to risks, uncertainties and other important factors that could cause actual results and the timing of certain events to differ materially from future results expressed or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those identified below and those discussed in the section titled "Risk Factors" included under Part II, Item 1A of this report. Furthermore, such forward-looking statements speak only as of the date of this report. Except as required by law, we undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements. The forward-looking statements in this report, other than the statements regarding the proposed merger with Salesforce, do not assume the consummation of the proposed merger unless specifically stated otherwise.