The presenters on the call are Vivek Ranadivé, TIBCO's Chairman and CEO; Murray Rode, Chief Operating Officer; and Sydney Carey, Chief Financial Officer.I'd now like to turn the call over to Vivek. Vivek Y. Ranadivé Thanks. Hello, everyone, for joining us today. I'll begin with a brief discussion of our Q2 performance and provide some remarks on the broader environment we're seeing before turning it over to Murray and Sydney to discuss details. We delivered another quarter of strong growth in Q2, with total revenue increasing 20% and license revenue increasing 17%, respectively on a constant currency basis. Sydney will describe the currency effects in further detail later in the call. As reported, total revenue came in at $247 million. License revenue was $93 million. Non-GAAP operating margins were 25%, and our non-GAAP EPS was $0.26. This now marks 4 straight years, 16 consecutive quarters, where we have beaten consensus EPS estimates. This will also be the 10th consecutive quarter of growing EPS by more than 20% over the prior year. It was a busy quarter for TIBCO. We met or exceeded all of our guidance metrics. We acquired a great company and exciting technology in LogLogic. We signed some terrific new logos and partners. We shored up our balance sheet and domestic cash. We held a number of regional marketing events that saw truly impressive attendance and demand. A lot of people are wondering what are we seeing in the broader environment, and how is it that we are continuing to grow at 20%. Here is my perspective. Firstly, any volatility in this time should be sharply contrasted with 2008 and 2009. We do not see what was then a shutdown in spending. We do not see big deals drying up. In fact, companies are willing to fund large technology buys when the value is clearly demonstrable. Ironically, I might argue that it's actually easier to justify a big deal than a small deal in the current environment because the big one can actually move the needle on the company's performance.
Secondly, marketing is really emerging as a larger and larger influence in corporate budgets, and CMOs are making more important technology decisions. I believe this is because companies are looking to marketing to figure out how to expand, how to engage and how to monetize the social network that is inherent in every company. And this involves more than just setting up a Facebook page. If a company really wants to see the exponential value of its social network, it needs the platform, the application and the tools that enable it to understand and exploit all the information flows, that is the big data that makes up that social network. This plays right into TIBCO's strengths.And finally, the demand for our event-driven infrastructure applications has never been greater. While the 20th century players are tied to the database and most of the smaller players are one-product companies focused only on one segment, TIBCO offers a powerful, integrated assembly of pearls, everything needed for delivering event-driven application and the two-second advantage. Consider just one of those pearls: TIBCO Loyalty Lab, our cloud-based loyalty platform. Today, Loyalty Lab has 260 million loyalty members under management. This is up 120% in the past 12 months and up 40 million in Q2 alone. In the past year, we added 8 different retail categories, including sports retail, beauty, hardware, pet supplies, travel, restaurant retail, and this quarter, kiosks and coffee. Now by adding other pearls such as Spotfire, BusinessEvents and master data management to TIBCO Loyalty Lab, we're working to deliver next-generation real-time intelligence platforms for some of the fastest-growing retailers in the country. Read the rest of this transcript for free on seekingalpha.com