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Technology / Data

Qlik Technologies reports 50% increase in Q3 revenue

Business Discovery offering provider Qlik Technologies has reported total revenue of $75.5m for the third quarter ended 30 September 2011, up 50% compared to $50.3m in same quarter previous year.

The company’s license revenue was $45.5m in the third quarter, an increase of 51% from $30.1m in the same quarter of 2010; while maintenance revenue was $23m, an increase of 54% from $15m in the third quarter of 2010.

Qlik Technologies posted GAAP operating income of $2.1m for the third quarter 2011, compared to $3.2m for the third quarter of 2010; while GAAP net income was $2.3m, or $0.03 per basic and diluted common share, compared to a GAAP net loss of $0.5m or ($0.01) in the third quarter of 2010.

The company’s non-GAAP operating income, which excludes stock-based compensation and employer payroll taxes related to stock transactions, was $5.2m for the third quarter of 2011, compared to $4m for the third quarter of 2010.

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It reported non-GAAP net income of $4.1m for the third quarter of 2011, compared to non-GAAP net income of $0.4m for the third quarter of 2010.

QlikTech chief executive officer Lars Björk said this growth in revenue was a direct result of the value and quality QlikView delivers to their customers, as well as their diversified go to market strategy which has given us a balanced business and multiple avenues for growth.

"We are also very pleased to return to profitability during the quarter, realising modest operating leverage and benefiting from prior investments that drove our top line, while continuing to invest for future growth," Björk said.

Revenue in the Americas was $26.8m, up 71% over the prior year period and representing 35% of total revenue, while European countries generated $42m in revenue, up 37% over the prior year period and representing 56% of total revenue.


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CBR Staff Writer

CBR Online legacy content.