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QlikTech Delivers Another Quarter Of Strong Growth

Stocks in this article: QLIK

Qlik Technologies Inc. (“QlikTech”) (Nasdaq: QLIK), a leader in Business Discovery — user-driven Business Intelligence (BI), today announced financial results for the second quarter ended June 30, 2013.

Lars Björk, Chief Executive Officer of QlikTech, stated, “I am pleased with our strong second quarter results with license and total revenue growth accelerating. We continue to see increasing demand for QlikView, despite the cautious business environment. Our differentiation is resonating in the marketplace as we help organizations gain valuable insights from multiple data sources in order to monitor, analyze and react to factors directly affecting their business.”

Financial Highlights for the Second Quarter Ended June 30, 2013

  • Total revenue for the second quarter of 2013 was $108.0 million, an increase of 26% from $85.8 million for the second quarter of 2012. License revenue for the second quarter of 2013 was $60.5 million, an increase of 21% from $50.0 million for the second quarter of 2012. Foreign currency exchange rate fluctuations from the prior year period positively impacted total revenue by approximately 1%.
  • GAAP loss from operations for the second quarter of 2013 was ($9.1) million, compared to a GAAP loss from operations of ($2.4) million for the second quarter of 2012. GAAP net loss was ($8.0) million, or ($0.09) per basic and diluted common share, compared to a GAAP net loss of ($2.0) million, or ($0.02) per basic and diluted common share, for the second quarter of 2012.
  • Non-GAAP loss from operations was ($1.7) million for the second quarter of 2013, compared to non-GAAP income from operations of $2.4 million for the second quarter of 2012. Non-GAAP net loss was ($1.5) million for the second quarter of 2013, or ($0.02) per basic and diluted common share, compared to non-GAAP net income of $1.7 million, or $0.02 per basic and diluted common share, for the second quarter of 2012.
  • Cash and cash equivalents as of June 30, 2013 were $223.5 million. For the six months ended June 30, 2013, net cash provided by operating activities was $23.8 million, as compared to $29.3 million for the six months ended June 30, 2012.

The tables at the end of this press release include a reconciliation of GAAP to non-GAAP income (loss) from operations and net income (loss) for the three and six months ended June 30, 2013 and 2012. An explanation of these measures is also included below under the heading "Non-GAAP Financial Measures."

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