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Qlik Technologies Management Discusses Q2 2012 Results - Earnings Call Transcript

Stocks in this article: QLIK

We believe that the deal that flipped largely remain in play and are very hopeful that we will be able to close the meaningful portion before year end.

We did not see any adverse changes in the competitive landscape or pricing pressure and continue to believe that we are gaining market share. Our focus now is on adapting to the new sales environment. This requires more legwork to identifying qualified deals, as well as more rigor to move deals through the pipeline from commit to close. We are improving our processes to ensure we have the proper resources to support pipeline development and deal closure and are better aware of all the requirements. We're also broadly evaluating our sales methodologies to help ensure we are applying best practices across our direct and indirect teams, as well as partners. We continue to believe that the market opportunity remains large and there's a real demand for our solutions. We believe the steps we are taking will better position us to navigate through current business conditions.

With that said, let's spend a moment with some of additional business highlights from the quarter. We are excited about the acquisition of Expressor Software. Their metadata management software fulfills our customers' growing need to describe data consistently and then reuse it to speed up deployment of additional application. We believe this metadata-intelligent solution will be an expanded use of our Business Discovery platform and will help IT departments know what data is being used and how it's being used, while ensuring consistency and appropriate reuse of common data definitions. This is a capability that has become increasingly important especially for enterprise deployment. The initial response has been positive, and we are seeing interest within our installed base. In addition, Expressor fits squarely in our acquisition strategy of adding complementary tuck-in technology that enhances the value we provide to our customers, and we are very pleased to have this team on board.

Read the rest of this transcript for free on seekingalpha.com

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