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Qlik Technologies Inc.
Consolidated Statements of Operations (in thousands, except for share and per share data) |
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Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||
2015 | 2014 | 2015 | 2014 | |||||||||||||||||
(unaudited) | (unaudited) | |||||||||||||||||||
Revenue: | ||||||||||||||||||||
License revenue | $ | 76,320 | $ | 66,942 | $ | 131,127 | $ | 120,825 | ||||||||||||
Maintenance revenue | 55,983 | 50,889 | 108,653 | 96,734 | ||||||||||||||||
Professional services revenue | 13,526 | 13,787 | 26,313 | 25,171 | ||||||||||||||||
Total revenue | 145,829 | 131,618 | 266,093 | 242,730 | ||||||||||||||||
Cost of revenue: | ||||||||||||||||||||
License revenue | 2,437 | 1,785 | 4,409 | 3,291 | ||||||||||||||||
Maintenance revenue | 2,681 | 2,768 | 5,939 | 5,825 | ||||||||||||||||
Professional services revenue | 17,076 | 14,256 | 32,987 | 27,732 | ||||||||||||||||
Total cost of revenue | 22,194 | 18,809 | 43,335 | 36,848 | ||||||||||||||||
Gross profit | 123,635 | 112,809 | 222,758 | 205,882 | ||||||||||||||||
Operating expenses: | ||||||||||||||||||||
Sales and marketing | 86,792 | 75,691 | 163,433 | 148,454 | ||||||||||||||||
Research and development | 18,793 | 17,588 | 36,188 | 34,634 | ||||||||||||||||
General and administrative | 27,964 | 26,531 | 57,138 | 53,292 | ||||||||||||||||
Total operating expenses | 133,549 | 119,810 | 256,759 | 236,380 | ||||||||||||||||
Loss from operations | (9,914 | ) | (7,001 | ) | (34,001 | ) | (30,498 | ) | ||||||||||||
Other expense, net: | ||||||||||||||||||||
Interest income, net | 35 | 40 | 65 | 75 | ||||||||||||||||
Foreign exchange loss, net | (3,241 | ) | (51 | ) | (1,846 | ) | (414 | ) | ||||||||||||
Total other expense, net | (3,206 | ) | (11 | ) | (1,781 | ) | (339 | ) | ||||||||||||
Loss before income taxes | (13,120 | ) | (7,012 | ) | (35,782 | ) | (30,837 | ) | ||||||||||||
Benefit (provision) for income taxes | 118 | (3,194 | ) | (7,540 | ) | (5,249 | ) | |||||||||||||
Net loss | $ | (13,002 | ) | $ | (10,206 | ) | $ | (43,322 | ) | $ | (36,086 | ) | ||||||||
Net loss per common share | ||||||||||||||||||||
Basic and diluted | $ | (0.14 | ) | $ | (0.11 | ) | $ | (0.47 | ) | $ | (0.40 | ) | ||||||||
Weighted average number of common shares outstanding | ||||||||||||||||||||
Basic and diluted | 91,721,926 | 89,753,523 | 91,362,617 | 89,480,446 | ||||||||||||||||
Stock-based compensation expense for the three and six months
ended June 30, 2015 and 2014 is included in the
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Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||
2015 | 2014 | 2015 | 2014 | |||||||||||||||||
(unaudited) | (unaudited) | |||||||||||||||||||
Cost of revenue | $ | 773 | $ | 639 | $ | 1,798 | $ | 1,195 | ||||||||||||
Sales and marketing | 4,757 | 4,199 | 9,427 | 8,306 | ||||||||||||||||
Research and development | 1,034 | 1,023 | 1,990 | 1,834 | ||||||||||||||||
General and administrative | 3,099 | 2,817 | 5,845 | 5,181 | ||||||||||||||||
$ | 9,663 | $ | 8,678 | $ | 19,060 | $ | 16,516 | |||||||||||||
Qlik Technologies Inc.
Reconciliation of non-GAAP Measures to GAAP (in thousands, except share and per share data) |
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Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||||||||
(unaudited) | (unaudited) | ||||||||||||||||||||
Reconciliation of non-GAAP income (loss) from operations: | |||||||||||||||||||||
GAAP loss from operations | $ | (9,914 | ) | $ | (7,001 | ) | $ | (34,001 | ) | $ | (30,498 | ) | |||||||||
Stock-based compensation expense | 9,663 | 8,678 | 19,060 | 16,516 | |||||||||||||||||
Employer payroll taxes on stock transactions | 1,350 | 191 | 1,492 | 554 | |||||||||||||||||
Amortization of intangible assets | 867 | 739 | 1,772 | 1,548 | |||||||||||||||||
Contingent consideration adjustment | 56 | - | 162 | - | |||||||||||||||||
Non-GAAP income (loss) from operations | $ | 2,022 | $ | 2,607 | $ | (11,515 | ) | $ | (11,880 | ) | |||||||||||
Non-GAAP income (loss) from operations as a percentage of total revenue | 1.4 | % | 2.0 | % | -4.3 | % | -4.9 | % | |||||||||||||
GAAP loss from operations as a percentage of total revenue | -6.8 | % | -5.3 | % | -12.8 | % | -12.6 | % | |||||||||||||
Reconciliation of non-GAAP net income (loss): | |||||||||||||||||||||
GAAP net loss | $ | (13,002 | ) | $ | (10,206 | ) | $ | (43,322 | ) | $ | (36,086 | ) | |||||||||
Stock-based compensation expense | 9,663 | 8,678 | 19,060 | 16,516 | |||||||||||||||||
Employer payroll taxes on stock transactions | 1,350 | 191 | 1,492 | 554 | |||||||||||||||||
Amortization of intangible assets | 867 | 739 | 1,772 | 1,548 | |||||||||||||||||
Contingent consideration adjustment | 56 | - | 162 | - | |||||||||||||||||
Income tax adjustment* | 237 | 2,415 | 11,529 | 8,915 | |||||||||||||||||
Non-GAAP net income (loss) | $ | (829 | ) | $ | 1,817 | $ | (9,307 | ) | $ | (8,553 | ) | ||||||||||
Non-GAAP net income (loss) per common share - basic and diluted | $ | (0.01 | ) | $ | 0.02 | $ | (0.10 | ) | $ | (0.10 | ) | ||||||||||
GAAP net loss per common share - basic and diluted | $ | (0.14 | ) | $ | (0.11 | ) | $ | (0.47 | ) | $ | (0.40 | ) | |||||||||
Non-GAAP weighted average number of common shares outstanding - basic | 91,721,926 | 89,753,523 | 91,362,617 | 89,480,446 | |||||||||||||||||
Non-GAAP weighted average number of common shares outstanding - diluted | 91,721,926 | 90,923,413 | 91,362,617 | 89,480,446 | |||||||||||||||||
GAAP weighted average number of common shares outstanding - basic and diluted | 91,721,926 | 89,753,523 | 91,362,617 | 89,480,446 | |||||||||||||||||