Qlik Announces Third Quarter Financial Results

License revenue of $67.5 million increases 24% compared to the third quarter of 2013

Total revenue of $131.3 million increases 26% compared to the third quarter of 2013

 

Qlik, a leader in data discovery delivering intuitive solutions for self-service data visualization and guided analytics, today announced financial results for the third quarter ended September 30, 2014.

Lars Björk, Chief Executive Officer of Qlik, stated, “I am pleased with our third quarter performance. We delivered strong revenue growth of 26% driven by the positive reception of our two product strategy and meaningful market demand for next-generation BI solutions. Our results were geographically broad-based, and we benefited from enterprise customers making larger commitments to us as well as ongoing strength across small and medium-sized businesses. With the official introduction of Qlik® Sense, we are well positioned to meet the needs of the expanded market we see for both guided analytics and governed self-service visualization.”

Financial Highlights for the Third Quarter Ended September 30, 2014

  • Total revenue for the third quarter of 2014 was $131.3 million, an increase of 26% from $104.1 million for the third quarter of 2013. License revenue for the third quarter of 2014 was $67.5 million, an increase of 24% from $54.5 million for the third quarter of 2013. Foreign currency exchange rate fluctuations from the prior year period negatively impacted total revenue by approximately 1%.
  • GAAP loss from operations for the third quarter of 2014 was ($8.6) million, compared to a GAAP loss from operations of ($3.4) million for the third quarter of 2013. GAAP net loss was ($14.4) million for the third quarter of 2014, or ($0.16) per diluted common share, compared to GAAP net income of $3.0 million, or $0.03 per diluted common share, for the third quarter of 2013.
  • Non-GAAP income from operations was $2.6 million for the third quarter of 2014, compared to non-GAAP income from operations of $6.8 millionfor the third quarter of 2013. Non-GAAP net income was $0.7 million for the third quarter of 2014, or $0.01 per diluted common share, compared to non-GAAP net income of $4.8 million, or $0.05 per diluted common share, for the third quarter of 2013.
  • Cash and cash equivalents as of September 30, 2014 were $242.0 million compared to $227.7 million at December 31, 2013. Net cash provided by operating activities was $17.3 million for the nine months ended September 30, 2014, as compared to $24.6 million for the nine months ended September 30, 2013.

Reference: http://investor.qlik.com/results.cfm

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