Qualys Announces Fourth Quarter and Full Year 2025 Financial Results
Rhea-AI Summary
Qualys (NASDAQ: QLYS) reported Q4 2025 revenue of $175.3M (+10% YoY) and full-year 2025 revenue of $669.1M (+10% YoY). GAAP net income for Q4 was $53.2M and for full-year $198.3M. Company raised its share repurchase program by $200M.
Management issued Q1 2026 revenue guidance of $172.5M–$174.5M and FY2026 revenue guidance of $717M–$725M, with GAAP EPS and non-GAAP EPS ranges disclosed.
Positive
- Revenue +10% YoY in Q4 to $175.3M
- Full-year revenue +10% YoY to $669.1M
- GAAP net income +14% for 2025 to $198.3M
- Raised share repurchase program by $200M
Negative
- Guided FY2026 revenue growth of 7%–8%, down from 2025's 10% growth rate
- Share count for guidance implies modest dilution vs prior period assumptions (weighted shares ~35.4M for FY2026)
Key Figures
Market Reality Check
Peers on Argus
QLYS gained 1.3% with strong earnings while peers were mixed: BOX +2.87%, ACIW +4.33%, WEX +3.35%, but OS -0.09% and STNE -2.51%, pointing to a stock-specific driver.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Nov 04 | Q3 2025 earnings | Positive | -3.1% | Q3 2025 results with 10% revenue growth and raised full-year guidance. |
| Aug 05 | Q2 2025 earnings | Positive | -0.2% | Q2 2025 beat with 10% growth and higher 2025 revenue guidance. |
| May 06 | Q1 2025 earnings | Positive | +0.6% | Q1 2025 10% growth, strong margins, and guidance raise. |
| Feb 06 | Q4/FY 2024 earnings | Positive | -3.6% | Q4 and FY 2024 10% revenue growth and high gross margins. |
| Nov 05 | Q3 2024 earnings | Positive | +24.2% | Q3 2024 8% growth, strong earnings and raised 2024 guidance. |
Recent earnings headlines consistently highlight ~10% revenue growth and strong margins, but price reactions have often been muted or negative despite positive fundamentals.
Over the past five earnings cycles from Nov 2024 to Nov 2025, Qualys has repeatedly delivered around 8–10% year-over-year revenue growth, expanding GAAP and non-GAAP profitability and often raising full-year guidance. Price reactions have varied widely, from a 24.18% gain to several ~3% declines, showing that strong fundamentals have not always translated into near-term upside. Today’s Q4/FY25 release continues the 10% growth and high-margin pattern, plus adds a $200M repurchase increase.
Historical Comparison
Past five earnings releases moved the stock an average of 3.57%, with reactions spanning from -3.65% to +24.18%, showing earnings can be a meaningful but volatile catalyst.
Earnings releases from late 2024 through 2025 show a consistent pattern of 8–10% revenue growth, expanding profitability, and periodic guidance raises, culminating in today’s Q4/FY25 report and 2026 outlook.
Market Pulse Summary
This announcement delivers another year of 10% revenue growth, high GAAP and non-GAAP margins, and detailed guidance for Q1 and full-year 2026. Investors may focus on how the $717.0M–$725.0M 2026 revenue outlook compares with prior 10% growth, the sustainability of mid-80% gross margins, and execution on newer offerings like Enterprise TruRisk Management and AI-driven products highlighted in recent quarters.
Key Terms
gaap financial
non-gaap financial
adjusted ebitda financial
fedramp high authorization regulatory
rule 10b5-1 trading plan regulatory
rsus/psus financial
AI-generated analysis. Not financial advice.
Q4 Revenue Growth of
Full Year 2025 Revenue Growth of
Announces
"Qualys is redefining how organizations manage pre-breach cyber risk by natively unifying Continuous Threat Exposure Management with exploit confirmation, risk quantification, and automated remediation powered by an agentic AI risk fabric. Against this backdrop, we continued to execute well in Q4, demonstrated by another quarter of solid revenue growth and profitability," said Sumedh Thakar, Qualys' president and CEO. "Our pace of innovation and targeted investments are driving competitive differentiation, deeper Enterprise TruRisk Management adoption, broader engagements across large federal agencies, growing partner-led execution, and early QFlex success. We believe these achievements position Qualys as a trusted leader in pre-breach cyber risk management and establish a strong foundation for durable, long-term growth."
Fourth Quarter 2025 Financial Highlights
Revenues: Revenues for the fourth quarter of 2025 increased by
Gross Profit: GAAP gross profit for the fourth quarter of 2025 increased by
Operating Income: GAAP operating income for the fourth quarter of 2025 increased by
Net Income: GAAP net income for the fourth quarter of 2025 increased by
Adjusted EBITDA: Adjusted EBITDA (a non-GAAP financial measure) for the fourth quarter of 2025 increased by
Operating Cash Flow: Operating cash flow for the fourth quarter of 2025 increased by
Fourth Quarter 2025 Business Highlights
- Enhancing Qualys' Enterprise TruRisk Management (ETM) solution, we introduced identity security (ETM Identity), industry-specific threat prioritization (TruLens), and exploit validation (TruConfirm) to help organizations predict and guard against new and emerging attack vectors.
- Successfully launched ROCon, Qualys' reimagined user conference series, positioning the Risk Operations Center (ROC) as the future of cyber risk management, with events in the
Americas and APAC focused on translating technical risk into measurable business outcomes, and combined attendance up over20% from last year's events.
Full Year 2025 Financial Highlights
Revenues: Revenues for 2025 increased by
Gross Profit: GAAP gross profit for 2025 increased by
Operating Income: GAAP operating income for 2025 increased by
Net Income: GAAP net income for 2025 increased by
Adjusted EBITDA: Adjusted EBITDA (a non-GAAP financial measure) for 2025 increased by
Operating Cash Flow: Operating cash flow for 2025 increased by
Full Year 2025 Business Highlights
Market Recognition
- Independent analyst firm GigaOm recognized Qualys as a leader across multiple security categories. Qualys' TotalCloud solution was named a Leader and Outperformer in the Cloud Workload Security and Container Radars, and a Leader in Cloud-Native Application Protection Platforms (CNAPP). GigaOm also named Qualys' Cybersecurity Asset Management solution a Leader in the Attack Surface Management Radar, TotalAppSec a Leader in the API Security and Exposure Management Radar, and TruRisk Eliminate/Patch Management the Leader in its Patch Management Solutions Radar.
- Qualys' Cybersecurity Asset Management was named a Leader in the 2025 KuppingerCole Analysts AG Leadership Compass for Attack Surface Management, while Qualys' TotalCloud solution was named a Leader in the CNAPP Leadership Compass.
- Qualys' TotalCloud and VMDR solutions were each recognized as best-in-class by SC Awards Europe, underscoring Qualys' excellence and contributions in shaping the future of technology and cybersecurity.
- IDC recognized Qualys as a leader in its 2025 IDC MarketScape Report for Worldwide Exposure Management.
- Received two Pwnie Awards (Epic Achievement and Best Remote Code Execution), recognizing the Qualys Threat Research Unit's work in rapid remediation and attack prevention.
- Gartner Identified Qualys as a 2025 Magic Quadrant Leader in Exposure Assessment Platforms.
Products & Features
- Unveiled an agentic AI agent marketplace delivering agents that act as a digital extension of security teams to autonomously drive cyber risk operations through Qualys' Enterprise TruRisk Management solution.
- Enhancing our Enterprise TruRisk Management (ETM) solution, we introduced identity security (ETM Identity), industry-specific threat prioritization (TruLens) and exploit validation (TruConfirm) to help organizations predict and guard against new and emerging attack vectors.
- Successfully launched Qualys' TotalAppSec solution, unifying API security, web application scanning, and malware detection for comprehensive application risk management.
- Integrated Qualys' Container Security solution with ServiceNow to automate vulnerability detection, prioritization, and remediation seamlessly through ServiceNow workflows.
- Expanded Qualys' TotalAI solution with advanced AI security capabilities, including multi-modal protections and internal Large Language Model (LLM) scanning to secure the Machine Learning Operations pipeline.
- Enhanced Qualys Policy Audit solution to streamline evidence collection, prioritize remediation, and support continuous audit readiness.
Business Developments
- Achieved FedRAMP High Authorization for the Qualys GovCloud Platform, making it one of the few cybersecurity platforms to meet the rigorous federal standards and expanding support for federal, defense, and intelligence agencies.
- Introduced the Managed Risk Operations Center (mROC), powered by Qualys' Enterprise TruRisk Management solution, along with inaugural mROC Alliance Partners - BlueVoyant, GuidePoint Security, ImagineX, NetHive, The Tech Collective, and Teksalah - to expand global adoption of risk-centric managed services. The mROC partner alliance is now 15 members strong.
- Expanded Qualys' public sector presence, including opening a
Washington, D.C. office and hosting the second annual Public Sector Cyber Risk Conference. - Successfully launched ROCon, Qualys' reimagined user conference series, positioning the ROC as the future of cyber risk management, with events in the
Americas and APAC focused on translating technical risk into measurable business outcomes, and combined attendance up over20% from last year's events.
Financial Performance Outlook
Based on information as of today, February 5, 2026, Qualys is issuing the following financial guidance for the first quarter and full year fiscal 2026. The Company emphasizes that the guidance is subject to various important cautionary factors referenced in the sections entitled "Legal Notice Regarding Forward-Looking Statements" and "Non-GAAP Financial Measures" below.
First Quarter 2026 Guidance: Management expects revenues for the first quarter of 2026 to be in the range of
Full Year 2026 Guidance: Management expects revenues for the full year of 2026 to be in the range of
Qualys has not reconciled non-GAAP net income per diluted share guidance to GAAP net income per diluted share guidance because Qualys does not provide guidance on the various reconciling cash and non-cash items between GAAP net income and non-GAAP net income (i.e., stock-based compensation, amortization of intangible assets from acquisitions and non-recurring items). The actual dollar amount of reconciling items in the first quarter and full year 2026 is likely to have a significant impact on the Company's GAAP net income per diluted share in the first quarter and full year 2026. A reconciliation of the non-GAAP net income per diluted share guidance to the GAAP net income per diluted share guidance is not available without unreasonable effort.
Investor Conference Call
Qualys will host a conference call and live webcast to discuss its fourth quarter and full year 2025 financial results at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time) on Thursday, February 5, 2026. To access the conference call by phone, please register here. A live webcast of the earnings conference call, investor presentation and prepared remarks can be accessed at https://investor.qualys.com/events-presentations. A replay of the conference call will be available through the same webcast link following the end of the call.
Investor Contact
Blair King
Senior Vice President, Investor Relations and Financial Planning & Analysis
(650) 538-2088
ir@qualys.com
About Qualys
Qualys, Inc. (NASDAQ: QLYS) is a leading provider of disruptive cloud-based Security, Compliance and IT solutions with more than 10,000 subscription customers worldwide, including a majority of the Forbes Global 100 and Fortune 100. Qualys helps organizations streamline and consolidate their security and compliance solutions onto a single platform for greater agility, better business outcomes, and substantial cost savings.
The Qualys Enterprise TruRisk Platform leverages a single agent to continuously deliver critical security intelligence while enabling enterprises to automate the full spectrum of vulnerability detection, compliance, and protection for IT systems, workloads and web applications across on premises, endpoints, servers, public and private clouds, containers, and mobile devices. Founded in 1999 as one of the first SaaS security companies, Qualys has strategic partnerships and seamlessly integrates its vulnerability management capabilities into security offerings from cloud service providers, including Amazon Web Services, the Google Cloud Platform and Microsoft Azure, along with a number of leading managed service providers and global consulting organizations. For more information, please visit www.qualys.com.
Qualys, Qualys VMDR® and the Qualys logo are proprietary trademarks of Qualys, Inc. All other products or names may be trademarks of their respective companies.
Legal Notice Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements generally relate to future events or our future financial or operating performance. Forward-looking statements in this press release include, but are not limited to, quotations of management and statements related to: the benefits of our existing, new and upcoming products, features, integrations, acquisitions, collaborations and joint solutions, and their impact upon our long-term growth; our ability to advance our value proposition and competitive differentiation in the market; our ability to address demand trends; our ability to maintain and strengthen our category leadership; our ability to solve modern security challenges at scale; our strategies and ability to achieve and maintain durable profitable growth; statements regarding our share repurchase; our guidance for revenues, GAAP EPS and non-GAAP EPS for the first quarter and full year 2026; and our expectations for the number of weighted average diluted shares outstanding and the GAAP and non-GAAP effective income tax rate for the first quarter and full year 2026. Our expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected. These risks include our ability to continue to develop platform capabilities and solutions; the ability of our platform and solutions to perform as intended; customer acceptance and purchase of our existing solutions and new solutions; real or perceived defects, errors or vulnerabilities in our products or services; our ability to retain existing customers and generate new customers; the budgeting cycles and seasonal buying patterns of our customers; our ability to maintain government authorizations applicable to our platform; general market, political, economic and business conditions in
The forward-looking statements in this press release are based on information available to Qualys as of the date hereof, and Qualys disclaims any obligation to update any forward-looking statements, except as required by law.
Non-GAAP Financial Measures
In addition to reporting financial results in accordance with GAAP, Qualys provides investors with certain non-GAAP financial measures, including non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating income, non-GAAP net income, non-GAAP net income per diluted share, Adjusted EBITDA (defined as earnings before interest expense, interest income and other income (expense), net, income taxes, depreciation, amortization, and stock-based compensation) and non-GAAP free cash flows (defined as cash provided by operating activities less purchases of property and equipment, net of proceeds from disposal).
In computing non-GAAP financial measures, Qualys excludes the effects of stock-based compensation expense, amortization of intangible assets from acquisitions, non-recurring items and for non-GAAP net income, certain tax effects. Qualys believes that these non-GAAP financial measures help illustrate underlying trends in its business that could otherwise be masked by the effect of the income or expenses that are excluded in non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating income, non-GAAP net income, non-GAAP net income per diluted share, Adjusted EBITDA and non-GAAP free cash flows.
Furthermore, Qualys uses some of these non-GAAP financial measures to establish budgets and operational goals for managing its business and evaluating its performance. Qualys believes that non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating income, non-GAAP net income, non-GAAP net income per diluted share, Adjusted EBITDA and non-GAAP free cash flows provide additional tools for investors to use in comparing its recurring core business operating results over multiple periods with other companies in its industry.
Although Qualys does not focus on or use quarterly billings in managing or monitoring the performance of its business, Qualys provides calculated current billings (defined as total revenues recognized in a period plus the sequential change in current deferred revenue in the corresponding period) for the convenience of investors and analysts in building their own financial models.
In order to provide a more complete picture of recurring core operating business results, the Company's non-GAAP net income and non-GAAP net income per diluted share include adjustments for non-recurring income tax items and certain tax effects of non-GAAP adjustments to achieve the effective income tax rate on a non-GAAP basis. The Company's non-GAAP effective tax rate may differ from the GAAP effective income tax rate as a result of these income tax adjustments. The Company believes its estimated non-GAAP effective income tax rate of
The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for results prepared in accordance with GAAP. A reconciliation of the non-GAAP financial measures discussed in this press release to the most directly comparable GAAP financial measures is included with the financial statements contained in this press release. Management uses both GAAP and non-GAAP information in evaluating and operating its business internally and as such has determined that it is important to provide this information to investors.
Qualys, Inc. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (in thousands, except per share data) | |||||||
Three Months Ended December 31, | Twelve Months Ended December 31, | ||||||
2025 | 2024 | 2025 | 2024 | ||||
Revenues | $ 175,282 | $ 159,191 | $ 669,125 | $ 607,571 | |||
Cost of revenues (1) | 29,167 | 29,037 | 114,768 | 111,482 | |||
Gross profit | 146,115 | 130,154 | 554,357 | 496,089 | |||
Operating expenses: | |||||||
Research and development (1) | 28,954 | 28,302 | 117,284 | 111,852 | |||
Sales and marketing (1) | 39,755 | 34,063 | 143,505 | 128,303 | |||
General and administrative (1) | 18,571 | 18,376 | 71,616 | 68,738 | |||
Total operating expenses | 87,280 | 80,741 | 332,405 | 308,893 | |||
Income from operations | 58,835 | 49,413 | 221,952 | 187,196 | |||
Other income (expense), net: | |||||||
Interest income | 6,345 | 6,194 | 25,251 | 25,784 | |||
Other income (expense), net | (754) | (1,777) | (375) | (3,158) | |||
Total other income, net | 5,591 | 4,417 | 24,876 | 22,626 | |||
Income before income taxes | 64,426 | 53,830 | 246,828 | 209,822 | |||
Income tax provision | 11,276 | 9,865 | 48,508 | 36,142 | |||
Net income | $ 53,150 | $ 43,965 | $ 198,320 | $ 173,680 | |||
Net income per share: | |||||||
Basic | $ 1.48 | $ 1.20 | $ 5.49 | $ 4.72 | |||
Diluted | $ 1.47 | $ 1.19 | $ 5.44 | $ 4.65 | |||
Weighted average shares used in computing net income per share: | |||||||
Basic | 35,822 | 36,568 | 36,142 | 36,799 | |||
Diluted | 36,140 | 37,000 | 36,453 | 37,353 | |||
(1) Includes stock-based compensation as follows: | |||||||
Cost of revenues | $ 2,287 | $ 2,162 | $ 8,529 | $ 8,129 | |||
Research and development | 4,787 | 5,277 | 20,061 | 21,188 | |||
Sales and marketing | 4,034 | 3,670 | 13,807 | 14,690 | |||
General and administrative | 9,545 | 9,570 | 34,569 | 33,126 | |||
Total stock-based compensation, net of amounts capitalized | $ 20,653 | $ 20,679 | $ 76,966 | $ 77,133 | |||
Qualys, Inc. CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (in thousands) | |||
December 31, | December 31, | ||
Assets | |||
Current assets: | |||
Cash and cash equivalents | $ 250,258 | $ 232,182 | |
Short-term marketable securities | 195,681 | 149,241 | |
Accounts receivable, net | 170,991 | 164,551 | |
Prepaid expenses and other current assets | 40,686 | 39,717 | |
Total current assets | 657,616 | 585,691 | |
Long-term marketable securities | 250,868 | 193,887 | |
Property and equipment, net | 23,166 | 30,349 | |
Operating leases - right of use asset | 46,001 | 40,968 | |
Deferred tax assets, net | 74,518 | 81,307 | |
Intangible assets, net | 4,255 | 6,812 | |
Goodwill | 7,447 | 7,447 | |
Noncurrent restricted cash | 1,200 | 1,200 | |
Other noncurrent assets | 30,010 | 25,876 | |
Total assets | $ 1,095,081 | $ 973,537 | |
Liabilities and Stockholders' Equity | |||
Current liabilities: | |||
Accounts payable | $ 1,202 | $ 1,270 | |
Accrued liabilities | 57,694 | 45,942 | |
Deferred revenues, current | 401,127 | 371,457 | |
Operating lease liabilities, current | 7,315 | 9,721 | |
Total current liabilities | 467,338 | 428,390 | |
Deferred revenues, noncurrent | 16,285 | 24,265 | |
Operating lease liabilities, noncurrent | 44,959 | 37,500 | |
Other noncurrent liabilities | 5,346 | 6,266 | |
Total liabilities | 533,928 | 496,421 | |
Stockholders' equity: | |||
Common stock | 36 | 37 | |
Additional paid-in capital | 731,788 | 664,879 | |
Accumulated other comprehensive income (loss) | (4,012) | 1,417 | |
Accumulated deficit | (166,659) | (189,217) | |
Total stockholders' equity | 561,153 | 477,116 | |
Total liabilities and stockholders' equity | $ 1,095,081 | $ 973,537 | |
Qualys, Inc. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (in thousands) | |||
Twelve Months Ended December 31, | |||
2025 | 2024 | ||
Cash flow from operating activities: | |||
Net income | $ 198,320 | $ 173,680 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization expense | 14,491 | 18,513 | |
Provision for credit losses | 1,226 | 764 | |
Stock-based compensation, net of amounts capitalized | 76,966 | 77,133 | |
Accretion of discount on marketable securities, net | (3,440) | (6,735) | |
Deferred income taxes | 8,412 | (19,465) | |
Changes in operating assets and liabilities: | |||
Accounts receivable | (7,666) | (19,089) | |
Prepaid expenses and other assets | (7,821) | (14,655) | |
Accounts payable | 27 | 219 | |
Accrued liabilities and other noncurrent liabilities | 7,195 | 2,945 | |
Deferred revenues | 21,690 | 30,784 | |
Net cash provided by operating activities | 309,400 | 244,094 | |
Cash flow from investing activities: | |||
Purchases of marketable securities | (349,150) | (368,277) | |
Sales and maturities of marketable securities | 248,216 | 309,184 | |
Purchases of property and equipment | (4,990) | (12,334) | |
Net cash used in investing activities | (105,924) | (71,427) | |
Cash flow from financing activities: | |||
Repurchase of common stock | (183,425) | (139,875) | |
Proceeds from exercise of stock options | 16,294 | 17,269 | |
Payments for taxes related to net share settlement of equity awards | (25,020) | (28,416) | |
Proceeds from issuance of common stock through employee stock purchase plan | 6,751 | 6,872 | |
Payment of acquisition-related holdback | — | (1,500) | |
Net cash used in financing activities | (185,400) | (145,650) | |
Net increase in cash, cash equivalents and restricted cash | 18,076 | 27,017 | |
Cash, cash equivalents and restricted cash at beginning of period | 233,382 | 206,365 | |
Cash, cash equivalents and restricted cash at end of period | $ 251,458 | $ 233,382 | |
Qualys, Inc. RECONCILIATION OF NON-GAAP DISCLOSURES ADJUSTED EBITDA (unaudited) (in thousands, except percentages) | |||||||
Three Months Ended December 31, | Twelve Months Ended December 31, | ||||||
2025 | 2024 | 2025 | 2024 | ||||
Net income | $ 53,150 | $ 43,965 | $ 198,320 | $ 173,680 | |||
Net income as a percentage of revenues | 30 % | 28 % | 30 % | 29 % | |||
Depreciation and amortization of property and equipment | 2,499 | 3,464 | 11,934 | 15,610 | |||
Amortization of intangible assets | 639 | 639 | 2,557 | 2,903 | |||
Income tax provision | 11,276 | 9,865 | 48,508 | 36,142 | |||
Stock-based compensation | 20,653 | 20,679 | 76,966 | 77,133 | |||
Total other income, net | (5,591) | (4,417) | (24,876) | (22,626) | |||
Adjusted EBITDA | $ 82,626 | $ 74,195 | $ 313,409 | $ 282,842 | |||
Adjusted EBITDA as a percentage of revenues | 47 % | 47 % | 47 % | 47 % | |||
Qualys, Inc. RECONCILIATION OF NON-GAAP DISCLOSURES (unaudited) (in thousands, except per share data) | |||||||
Three Months Ended December 31, | Twelve Months Ended December 31, | ||||||
2025 | 2024 | 2025 | 2024 | ||||
GAAP Cost of revenues | $ 29,167 | $ 29,037 | $ 114,768 | $ 111,482 | |||
Less: Stock-based compensation | (2,287) | (2,162) | (8,529) | (8,129) | |||
Less: Amortization of intangible assets | (639) | (639) | (2,557) | (2,837) | |||
Non-GAAP Cost of revenues | $ 26,241 | $ 26,236 | $ 103,682 | $ 100,516 | |||
GAAP Gross profit | $ 146,115 | $ 130,154 | $ 554,357 | $ 496,089 | |||
Plus: Stock-based compensation | 2,287 | 2,162 | 8,529 | 8,129 | |||
Plus: Amortization of intangible assets | 639 | 639 | 2,557 | 2,837 | |||
Non-GAAP Gross Profit | $ 149,041 | $ 132,955 | $ 565,443 | $ 507,055 | |||
GAAP Research and development | $ 28,954 | $ 28,302 | $ 117,284 | $ 111,852 | |||
Less: Stock-based compensation | (4,787) | (5,277) | (20,061) | (21,188) | |||
Less: Amortization of intangible assets | — | — | — | (66) | |||
Non-GAAP Research and development | $ 24,167 | $ 23,025 | $ 97,223 | $ 90,598 | |||
GAAP Sales and marketing | $ 39,755 | $ 34,063 | $ 143,505 | $ 128,303 | |||
Less: Stock-based compensation | (4,034) | (3,670) | (13,807) | (14,690) | |||
Non-GAAP Sales and marketing | $ 35,721 | $ 30,393 | $ 129,698 | $ 113,613 | |||
GAAP General and administrative | $ 18,571 | $ 18,376 | $ 71,616 | $ 68,738 | |||
Less: Stock-based compensation | (9,545) | (9,570) | (34,569) | (33,126) | |||
Non-GAAP General and administrative | $ 9,026 | $ 8,806 | $ 37,047 | $ 35,612 | |||
GAAP Operating expenses | $ 87,280 | $ 80,741 | $ 332,405 | $ 308,893 | |||
Less: Stock-based compensation | (18,366) | (18,517) | (68,437) | (69,004) | |||
Less: Amortization of intangible assets | — | — | — | (66) | |||
Non-GAAP Operating expenses | $ 68,914 | $ 62,224 | $ 263,968 | $ 239,823 | |||
GAAP Income from operations | $ 58,835 | $ 49,413 | $ 221,952 | $ 187,196 | |||
Plus: Stock-based compensation | 20,653 | 20,679 | 76,966 | 77,133 | |||
Plus: Amortization of intangible assets | 639 | 639 | 2,557 | 2,903 | |||
Non-GAAP Income from operations | $ 80,127 | $ 70,731 | $ 301,475 | $ 267,232 | |||
GAAP Net income | $ 53,150 | $ 43,965 | $ 198,320 | $ 173,680 | |||
Plus: Stock-based compensation | 20,653 | 20,679 | 76,966 | 77,133 | |||
Plus: Amortization of intangible assets | 639 | 639 | 2,557 | 2,903 | |||
Less: Tax adjustment | (6,727) | (5,916) | (20,028) | (24,728) | |||
Non-GAAP Net income | $ 67,715 | $ 59,367 | $ 257,815 | $ 228,988 | |||
GAAP Net income per share: | |||||||
Basic | $ 1.48 | $ 1.20 | $ 5.49 | $ 4.72 | |||
Diluted | $ 1.47 | $ 1.19 | $ 5.44 | $ 4.65 | |||
Non-GAAP Net income per share: | |||||||
Basic | $ 1.89 | $ 1.62 | $ 7.13 | $ 6.22 | |||
Diluted | $ 1.87 | $ 1.60 | $ 7.07 | $ 6.13 | |||
Weighted average shares used in GAAP and non-GAAP net income per share: | |||||||
Basic | 35,822 | 36,568 | 36,142 | 36,799 | |||
Diluted | 36,140 | 37,000 | 36,453 | 37,353 | |||
Qualys, Inc. RECONCILIATION OF NON-GAAP DISCLOSURES FREE CASH FLOWS (unaudited) (in thousands) | |||
Twelve Months Ended December 31, | |||
2025 | 2024 | ||
GAAP Cash flows provided by operating activities | $ 309,400 | $ 244,094 | |
Less: | |||
Purchases of property and equipment, net of proceeds from disposal | (4,990) | (12,334) | |
Non-GAAP Free cash flows | $ 304,410 | $ 231,760 | |
Qualys, Inc. RECONCILIATION OF NON-GAAP DISCLOSURES CALCULATED CURRENT BILLINGS (unaudited) (in thousands, except percentages) | |||
Three Months Ended December 31, | |||
2025 | 2024 | ||
GAAP Revenue | $ 175,282 | $ 159,191 | |
GAAP Revenue growth compared to same quarter of prior year | 10 % | 10 % | |
Plus: Current deferred revenue at December 31 | 401,127 | 371,457 | |
Less: Current deferred revenue at September 30 | (371,476) | (337,821) | |
Non-GAAP Calculated current billings | $ 204,933 | $ 192,827 | |
Calculated current billings growth compared to same quarter of prior year | 6 % | 13 % | |
View original content:https://www.prnewswire.com/news-releases/qualys-announces-fourth-quarter-and-full-year-2025-financial-results-302680676.html
SOURCE Qualys, Inc.
FAQ
What were Qualys (QLYS) fourth quarter 2025 results and key metrics?
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How did Qualys (QLYS) financial margins and cash flow perform in 2025?
