Business intelligence company Qlik Technologies (NASDAQ:QLIK) recently announced that it plans to release its second-quarter results on Thursday, July 23, after market close. With the stock up about 50% in the past 12 months, will Qlik continue to impress? Or could the company fail to meet high expectations?

Qlik business intelligence software. Image source: Qlik Technologies.

The expectations
Analysts, on average, expect Qlik's second-quarter revenue to reach $136.5 million, up slightly from the year-ago quarter's revenue of $131.6 million. This figure is at the high end of Qlik's guidance range for revenue between $133 and $137 million. While $136.5 million in revenue would represent just 3.7% year-over-year revenue growth, the implied underlying business growth is more significant. On a constant currency basis, Qlik's revenue guidance range for Q2 implies 20% to 22% year-over-year revenue growth.

The consensus analyst estimate for Qlik's non-GAAP EPS is to breakeven, down from $0.02 in the year-ago quarter. Zero cents falls at the higher end of Qlik's guidance range for non-GAAP EPS of a $0.02 loss and $0.01.

During Qlik's first quarter, both revenue and non-GAAP operating results exceeded management's expectations. The company cited benefits of its global footprint, increasingly more comprehensive business intelligence solutions, and a growing addressable market.

Focusing on Qlik Sense
Looking beyond the typical quarterly metrics analysts tend to focus on, Qlik's newly launched Qlik Sense BI solution, which emphasizes self-service, will also be a key focus when the company shares quarterly results.

Qlik Sense. Qlik Sense focuses on self-service and visualization. Image source: Qlik Technologies.

During Qlik's first-quarter earnings call, CEO Lars Bjork said Qlik Sense is "capturing increased attention as a leading product" and that the new product is enabling the company to compete for deals it wouldn't have been invited to in the past.

Management has indicated that Qlik Sense wasn't meant to replace its primary BI solution, QlikView. While there may be some product cannibalization, the platform is comprehensive and value-adding in its own right; Qlik Sense has potential to provide revenue opportunities with existing clients already using QlikView, with new clients who want both solutions, and with new clients who want only Qlik Sense.

Qlik's second quarter could begin to provide a glimpse of the upside potential from Qlick Sense. But investors should keep in mind that management has indicated the impact from Qlik Sense will be greater in the second half of the year. Notably, however, since management reports second-quarter results during the third quarter, key insights into how it expects the product to perform during the second half of the year, as well as even an early look at second-half Qlik Sense sales, could be revealed during the second-quarter call.

Shortly after market close on Thursday, July 23, Qlik's second-quarter results will be available to read on its investor relations page. On the same day, anyone can tune into the call at 5:00 p.m. ET by listening to the call's webcast.

Stay tuned at The Motley Fool for more coverage and analysis of Qlik's second quarter.

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