"It's much more about coverage," he continued. "We think of this as a great opportunity to get into the white spaces."For the quarter ended March 31, the growth in revenue outpaced the increase in the net loss. The loss for the most recently ended period rose to $24.8 million, an increase of 2.8 percent from $24.1 million. First quarter revenue hit $137 million, up 15 percent from $120.3 million in last year's corresponding quarter. Revenue was up 12 percent on a constant currency basis. Qlik said revenue in the Americas rose by 21 percent in constant currencies while the stream in Europe increased by 11 percent. Seventy-four percent of license and first-year maintenance billings came from existing customers in the first quarter of 2016, compared to 66 a year earlier. The channel produced 63 percent of those billings, compared to 65 percent in the first quarter of 2015.
QLIK SIGNS DISTRIBUTOR Featured
Analytics software vendor Qlik Technology has signed Arrow Electronics to distribute its products. "It will help us grow and scale our partner program," CEO Lars Björk said about the alliance during the week's earnings webcast. He continued that the deal was not aimed at going deep into vertical markets. The Arrow relationship was announced early this month. However, Björk spelled out the impact as the company delivered its first quarter results this week.
