This press release includes forward-looking non-GAAP financial measures under the heading “Business Outlook”. These non-GAAP financial measures were determined by excluding stock-based compensation expense, employer payroll taxes on stock transactions, amortization of intangible assets and contingent consideration adjustments and assuming an estimated long-term effective tax rate of 30%. We are unable to reconcile this non-GAAP guidance to GAAP because it is difficult to predict the future impact of these adjustments. In addition, these forward-looking non-GAAP financial measures assume that foreign currency exchange rates for the third quarter and full year 2015 will approximate current foreign currency exchange rates. In addition, Qlik’s expectations of year-over-year projected revenue growth rates on a constant currency basis for the third quarter and full year 2015 assume that expected revenue from entities reporting in foreign currencies are translated into U.S. dollars using the comparable prior year period’s monthly average foreign currency exchange rates.
The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for results prepared in accordance with GAAP. The principal limitation of these non-GAAP financial measures is that they exclude significant elements that are required by GAAP to be recorded in Qlik’s consolidated financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgments by management in determining these non-GAAP financial measures. In order to compensate for these limitations, management of Qlik presents its non-GAAP financial measures in connection with its GAAP results. Investors are encouraged to review the reconciliation of our non-GAAP financial measures to their most directly comparable GAAP financial measure. As previously mentioned, a reconciliation of our non-GAAP financial measures to their most directly comparable GAAP measures has been provided below.
About Qlik
Qlik (NASDAQ: QLIK) is a leader in visual analytics. Its portfolio of products meets customers' growing needs from reporting and self-service visual analysis to guided, embedded and custom analytics. Approximately 36,000 customers rely on Qlik solutions to gain meaning out of information from varied sources, exploring the hidden relationships within data that lead to insights that ignite good ideas. Headquartered in Radnor, Pennsylvania, Qlik has offices around the world with more than 1,700 partners covering more than 100 countries.
Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements, including, but
not limited to, the guidance provided under the heading “Business
Outlook” above, statements regarding the value and effectiveness of
Qlik's products, the introduction of product enhancements or additional
products and Qlik's growth, expansion and market leadership, that
involve risks, uncertainties, assumptions and other factors which, if
they do not materialize or prove correct, could cause Qlik’s results to
differ materially from those expressed or implied by such
forward-looking statements. All statements, other than statements of
historical fact, are statements that could be deemed forward-looking
statements, including statements containing the words “predicts,”
“plan,” “expects,” “focus,” “anticipates,” “believes,” “goal,” “target,”
“estimate,” “potential,” “may,” “will,” “might,” “momentum,” “can,”
“could,” “see,” “seek,” “forecast,” and similar words. Qlik intends all
such forward-looking statements to be covered by the safe harbor
provisions for forward-looking statements contained in Section 21E of
the Exchange Act and the Private Securities Litigation Reform Act of
1995. Actual results may differ materially from those projected in such
statements due to various factors, including but not limited to: risks
and uncertainties inherent in Qlik’s business; Qlik’s ability to attract
new customers and retain existing customers; Qlik’s ability to
effectively sell, service and support its products; Qlik’s ability to
adapt to changing licensing and go to market business models; Qlik’s
ability to manage its international operations; Qlik’s ability to
compete effectively; Qlik’s ability to develop and introduce new
products and add-ons or enhancements to existing products; Qlik’s
ability to continue to promote and maintain its brand in a
cost-effective manner; Qlik’s ability to manage growth; Qlik’s ability
to attract and retain key personnel; currency fluctuations that affect
Qlik’s revenues and costs; Qlik’s ability to successfully integrate
acquisitions into its business; the scope and validity of intellectual
property rights applicable to Qlik’s products; adverse economic
conditions in general and adverse economic conditions specifically
affecting the markets in which Qlik operates; and other risks more fully
described in Qlik’s publicly available filings with the Securities and
Exchange Commission. Past performance is not necessarily indicative of
future results. The forward-looking statements included in this press
release represent Qlik's views as of the date of this press release. Any
statements regarding Qlik’s products are intended to outline its general
product direction and should not be relied on in making a purchase
decision, as the development, release, and timing of any features and
functionality remains at Qlik’s sole discretion. Qlik anticipates that
subsequent events and developments will cause its views to change. Qlik
undertakes no intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. These forward-looking statements should not
be relied upon as representing Qlik’s views as of any date subsequent to
the date of this press release.
