QlikTech Announces 2007 Revenues of $80.0M

Third year in row with 75% or more annual revenue growth

Radnor, PA - 5 February 2008

QlikTech, the world’s fastest-growing Business Intelligence software vendor according to IDC, today announced 2007 worldwide preliminary revenues of $80.0 million, an 80% increase over 2006 worldwide revenue. This was the third year in row with 75% or more annual revenue growth.

QlikTech’s success comes in a year of significant industry consolidation, when the big, traditional BI vendors such as Cognos, Business Objects and Hyperion were acquired by big, traditional enterprise vendors IBM, SAP® and Oracle, respectively. “The foundation for QlikTech’s growth is proven innovation – delivering fast results and eliminating risk for buyers,” said Lars Björk, CEO of QlikTech. “Everything is about simplicity – being a simple company to do business with as a customer, partner and employer, and providing a powerful solution that everyone can use.” QlikTech is the only major business intelligence software vendor to offer a 30-day money-back guarantee.

QlikTech’s award-winning business analysis solution, QlikView, works the way your mind works to make associations of data from any source for accurate and actionable information. This patented, associative, in-memory design makes QlikView intuitive to learn and simple to change, able to analyze billions of records instantly on affordable hardware platforms.

Worldwide customer adoption

As of December 31, 2007, 7,306 customers with 329,000 users in 82 countries have adopted QlikView. New customers include ABN AMRO Bank N.V., Alto Paraná SA, C H Robinson Worldwide Inc., The Energy Authority, Gen-Probe, Gwent Police, Heidelberger Druckmaschinen AG, Kingfield Heath Limited, La Guilde des Lunetiers, Le Ministère de l’Ecologie, du Développement et de l’Aménagement Durables, Lifetime Brands, Pfizer Inc., Schawk, Inc., Södra Cell AB, Star Tribune, U-Store-It, Uitvoering Werknemersverzekeringen (Dutch National Institute for Social Security), Victaulic Europe, and Volkswagen AG.

Award-winning innovation

QlikTech earned more than a dozen noteworthy IT industry and solution awards in 2007, underscoring its leadership position as a business and technology innovator. IT industry recognition included being named as a “Tech Pioneer 2008” from the World Economic Forum, and rankings in Sand Hill Group’s Fast Track 25, Red Herring 100, Manufacturing Business Technology Emerging 40 and Gartner “Visionary” BI Provider in the Magic Quadrant. QlikView solutions received recognition through the Fierce Health IT Top Healthcare IT Innovator Award, 2007 Computerworld Honors Laureate 21st Century Achievement Award and two Gartner Group Best Midmarket Solution Software Awards. In addition, the company won Sweden’s prestigious Guldmusen award for product of the year and Siriuspriset as the year’s best vendor.

QlikView 8: Continued improvement on a “disruptive” solution

The company released QlikView 8 in April, with hundreds of new features and significant performance gains. QlikView 8 offers four key areas of enhancements:

  • Actionable analytics. QlikView merges interactive analysis with user input and decisions allowing what-if analysis and comparison of different scenarios with a few clicks.
  • Collaborative analytics. QlikView makes analysis match how we work – in groups – allowing users to work together to find and share insight from data.
  • Mass user community deployment. QlikView can be deployed through both AJAX zero-footprint and Java clients, allowing thousands of users “anytime, anywhere” access.
  • Mass analysis deployment. QlikView is designed to ensure that the right analysis is in the hands of the right user at the right time quickly, easily, and securely.

Global offices, collaborative organization

QlikTech launched its French subsidiary in Paris and opened additional offices in San Mateo, CA, USA, and Wels, Austria. The company had 361 employees worldwide at year-end. “We’ve accomplished so much with our team because we created a values-based culture where people can challenge and move fast,” said Björk. Björk was named CEO in October, having served previously as QlikTech’s COO and CFO. Måns Hultman, QlikTech’s CEO since 2000, became Chairman to continue his focus on strategy.

QlikTech’s “Qonnect” Partner Program included more than 500 partners at year-end. Qonnect OEM Partners gained momentum in particular: Companies such as Terra Technologies in supply chain management (SCM), Sage in customer relationship management (CRM) and Prodacapo in business process modelling (BPM) are embedding QlikView technology in their own solutions for more powerful and visual analytic capabilities. QlikTech Qonnect partner TriGeo Network Security, which uses QlikView to power its analysis, also won best midmarket solution at the Gartner Midsize Summit in 2007.

About QlikTech

QlikTech’s flagship product, QlikView, simplifies analysis for everyone. QlikView works the way your mind works – making associations by connecting data from many sources in a few clicks. This patented in-memory association technology brings fast results and better decision making to a wide range of customers and industries. QlikView is intuitive to learn, simple to modify and can be deployed in less than a week.

Named the world’s fastest-growing Business Intelligence software vendor by IDC, QlikTech has more than 7,300 customers in 82 countries and more than 500 partners worldwide. QlikTech was founded in Lund, Sweden and is headquartered in Radnor, PA (USA) with direct operations throughout Europe. QlikTech offers a fully functional, free trial of QlikView and a 30-day money-back guarantee. For more information, please visit www.qlikview.com.

Cautionary Statements

This press release contains unaudited financial information and forward-looking statements. Such forward-looking statements are based upon current expectations that involve risks, changes in circumstances, assumptions and uncertainties. Important factors that could cause actual results to differ materially from those reflected in any forward-looking statements include, among others, a lack of acceptance of QlikTech’s products in the marketplace, a failure of the company to become or remain profitable, QlikTech’s inability to obtain the capital necessary to fund its research and development activities, a loss of any of the company’s key personnel or management and other factors. The financial and business information referenced above does not guarantee future results or performance. The information in this press release is provided only as of the date of this press release, and QlikTech undertakes no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.

QlikTech and QlikView are trademarks or registered trademarks of QlikTech International AB. Other company names, product names and company logos mentioned herein are the trademarks, or registered trademarks of their respective owners.