Radnor-based QlikTech reports 2013 growth of 21%; Ranks near top of Gartner Magic Quadrant

Tom Paine

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Radnor-based QlikTech reported its year-end 2013 results this afternoon.

Total revenue for 2013 was $470.5 million, an increase of 21% from 2012. GAAP net loss was ($10.0) million, compared with GAAP net income of $3.8 million in 2012.

For 2014, QlikTech's guidance projects revenue between $545 and $555 million, and a bottom
line (non-GAAP) of $30 to $35 million. The revenue projections indicate growth of between
16 and 18%.

Although it offers a very different solution, QlikTech business intelligence competitor Tableau reported 95% revenue growth to $81.5 million earlier this month, and GAAP net income of $11.2 million.

Some will offer different explanations, but my sense is that Tableau is taking much of it
out of QlikTech's hide.

Update 3/1/2014: QlikTech CEO Lars Björk and one analyst tend to downplay Tableau as a direct competitor, though I remain unconvinced.

In an interview with TheStreet.com, Björk reviews the company's progress and emphasizes
its push into the healthcare sector:

Also, Gartner's 2014 BI Magic Quadrant was released last week,and you can see that QlikTech ranks very high among the leaders: