View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
  2. Data
October 30, 2011

Qlik Technologies reports 50% increase in Q3 revenue

License revenue grew 51% to $45.5m

By CBR Staff Writer

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.

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.

Content from our partners
Unlocking growth through hybrid cloud: 5 key takeaways
How businesses can safeguard themselves on the cyber frontline
How hackers’ tactics are evolving in an increasingly complex landscape

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.

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.