Bob Scott reporting in his weekly Insights column.
The stronger American dollar took a $19.9-million toll on the revenue of business analytics vendor Qlik Technologies for the second quarter ended June 30. The company lost slightly more than $13 million for the most recently ended period, a rise from a loss of $10.2 million a year earlier. Revenue reached $145.8 million, up 10.8 percent from $131.6 million in last year’s corresponding period, an increase of 26 percent in constant currencies. The impact stemmed from the fact that 68 percent of Qlik’s revenue is dominated in foreign currency. Operating expenses also rose by 11.5 percent to $133.5 million in the June quarter, compared to $119.8 million for the second quarter of 2014. However, Wall Street analysts and executives showed in a recent earnings call that they viewed results as extremely positive. “This was another great quarter for Qlik,” said CEO Lars Björk. He pointed to strong demand for the company’s new QlikSense self-guided analytics product at the enterprise, midmarket and small business markets. Björk said, “Our increased marketing efforts are beginning to produce results.” Qlik also pointed to a stronger performance from its channel. That source generated 56 percent of license and first year-maintenance billings, compared to 52 percent a year earlier. The company hired faster than it anticipated because of what it described as a strong talent pool. It also had higher attendance than anticipated at its user and channel conference. Qlik is combining the two events in 2016.