Qualys Announces Second Quarter 2025 Financial Results

Rhea-AI Summary

Qualys (NASDAQ: QLYS) reported strong Q2 2025 financial results with revenue reaching $164.1 million, up 10% year-over-year. The company achieved a GAAP net income of $47.3 million ($1.29 per diluted share) and non-GAAP net income of $61.2 million ($1.68 per diluted share).

Key performance metrics include an 82% GAAP gross margin and Adjusted EBITDA of $73.4 million. The company raised its full-year 2025 revenue guidance to $656-$662 million, representing 8-9% growth over 2024. Notable business highlights include the launch of managed Risk Operations Center Alliance Partners and enhanced AI security capabilities in their TotalAI solution.

The company maintains strong market leadership, evidenced by recognition in KuppingerCole's Leadership Compass for Attack Surface Management and Cloud Native Application Protection Platforms.

Positive

• Revenue increased 10% YoY to $164.1 million
• GAAP gross profit grew 11% to $135.2 million with 82% margin
• Raised full-year 2025 revenue guidance to $656-$662 million
• Strong recognition with leadership positions in KuppingerCole's industry reports
• Launched strategic partnerships through Risk Operations Center Alliance

Negative

• Operating cash flow decreased 32% YoY to $33.8 million
• Operating margin declined from 32% to 31% YoY
• Non-GAAP operating margin dropped from 44% to 43% YoY
• Adjusted EBITDA margin decreased from 47% to 45% YoY

Revenue Growth of 10% Year-Over-Year

Raises 2025 Revenue Guidance to $656-$662 million

FOSTER CITY, Calif., Aug. 5, 2025 /PRNewswire/ -- Qualys, Inc. (NASDAQ: QLYS), a leading provider of disruptive cloud-based IT, security and compliance solutions, today announced financial results for the second quarter ended June 30, 2025. For the quarter, the Company reported revenues of $164.1 million, net income under United States Generally Accepted Accounting Principles ("U.S. GAAP") of $47.3 million, non-GAAP net income of $61.2 million, Adjusted EBITDA of $73.4 million, GAAP net income per diluted share of $1.29, and non-GAAP net income per diluted share of $1.68.

"In Q2, we executed well against our strategic agenda, delivering solid revenue growth and profitability," said Sumedh Thakar, Qualys' president and CEO. "Qualys is well armed with fresh new capabilities, a new agency authorized FedRAMP High solution for government wide use, strong channel momentum, and flexible platform pricing to help customers unify pre-breach cyber risk management workflows, reduce costs, and address today's toughest security challenges. With trusted innovation and early Risk Operations Center (ROC) adoption, we're strengthening our position as the partner of choice for customers ready to centralize their response to cyber risk; and believe we are well positioned to outpace our competitors, extend our thought leadership, and build upon an already strong foundation to drive durable long-term growth in the business."

Second Quarter 2025 Financial Highlights

Revenues: Revenues for the second quarter of 2025 increased by 10% to $164.1 million compared to $148.7 million for the same quarter in 2024.

Gross Profit: GAAP gross profit for the second quarter of 2025 increased by 11% to $135.2 million compared to $122.3 million for the same quarter in 2024. GAAP gross margin was 82% for both the second quarter of 2025 and the same quarter in 2024. Non-GAAP gross profit for the second quarter of 2025 increased by 10% to $137.8 million compared to $124.9 million for the same quarter in 2024. Non-GAAP gross margin was 84% for both the second quarter of 2025 and the same quarter in 2024.

Operating Income: GAAP operating income for the second quarter of 2025 increased by 7% to $51.4 million compared to $48.1 million for the same quarter in 2024. As a percentage of revenues, GAAP operating income was 31% for the second quarter of 2025 compared to 32% for the same quarter in 2024. Non-GAAP operating income for the second quarter of 2025 increased by 6% to $70.1 million compared to $65.9 million for the same quarter in 2024. As a percentage of revenues, non-GAAP operating income was 43% for the second quarter of 2025 compared to 44% for the same quarter in 2024.

Net Income: GAAP net income for the second quarter of 2025 increased by 8% to $47.3 million, or $1.29 per diluted share, compared to $43.8 million, or $1.17 per diluted share, for the same quarter in 2024. As a percentage of revenues, GAAP net income was 29% for both the second quarter of 2025 and the same quarter in 2024. Non-GAAP net income for the second quarter of 2025 was $61.2 million, or $1.68 per diluted share, compared to $56.9 million, or $1.52 per diluted share, for the same quarter in 2024. As a percentage of revenues, non-GAAP net income was 37% for the second quarter of 2025 compared to 38% for the same quarter in 2024.

Adjusted EBITDA: Adjusted EBITDA (a non-GAAP financial measure) for the second quarter of 2025 increased by 5% to $73.4 million compared to $69.9 million for the same quarter in 2024. As a percentage of revenues, Adjusted EBITDA was 45% for the second quarter of 2025, compared to 47% for the same quarter in 2024.

Operating Cash Flow: Operating cash flow for the second quarter of 2025 decreased by 32% to $33.8 million compared to $49.8 million for the same quarter in 2024. As a percentage of revenues, operating cash flow was 21% for the second quarter of 2025 compared to 34% for the same quarter in 2024.

Second Quarter 2025 Business Highlights

• Launched inaugural managed Risk Operations Center (mROC) Alliance Partners with BlueVoyant, GuidePoint Security, ImagineX, NetHive, The Tech Collective, and Teksalah. These partners are expected to play a critical role in Qualys' mission to make risk management easier to adopt, more practical to implement, and more impactful for organizations globally.
• Expanded TotalAI solution with introduction of advanced AI security capabilities to extend threat coverage, multi-modal protections, and internal Large Language Model (LLM) scanning, enabling organizations to secure their Machine Learning Operations (MLOps) pipeline from development to deployment.
• Enhanced Policy Audit solution to streamline evidence collection, prioritize risk-based remediation, and ensure continuous audit readiness, helping organizations reduce compliance costs and regulatory exposure.
• Qualys was named the Leader in the 2025 KuppingerCole Analysts AG Leadership Compass for Attack Surface Management, recognizing its unified approach to securing complex IT environments. KuppingerCole also named TotalCloud a leader in its 2025 Leadership Compass for Cloud Native Application Protection Platforms (CNAPP), affirming Qualys' dedication to delivering innovative, risk-driven cloud security across hybrid environments from code to runtime, and from containers to compliance.
• Qualys' TotalCloud and Vulnerability Management, Detection, and Response (VMDR) applications were named best cloud security and vulnerability management solutions, respectively, by the prestigious SC Awards Europe, underscoring Qualys' excellence and contributions to shaping the future of technology and cybersecurity.
• Reinforcing its commitment to the public sector, Qualys expanded its office presence in Washington D.C., and hosted its second annual Public Sector Cyber Risk Conference.

Financial Performance Outlook

Based on information as of today, August 5, 2025, Qualys is issuing the following financial guidance for the third quarter and full year fiscal 2025. 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.

Third Quarter 2025 Guidance: Management expects revenues for the third quarter of 2025 to be in the range of $164.5 million to $167.5 million, representing 7% to 9% growth over the same quarter in 2024. GAAP net income per diluted share is expected to be in the range of $1.00 to $1.10, which assumes an effective income tax rate of 26%. Non-GAAP net income per diluted share is expected to be in the range of $1.50 to $1.60, which assumes a non-GAAP effective income tax rate of 21%. Third quarter 2025 net income per diluted share estimates are based on approximately 36.3 million weighted average diluted shares outstanding for the quarter.

Full Year 2025 Guidance: Management now expects revenues for the full year of 2025 to be in the range of $656.0 million to $662.0 million, representing 8% to 9% growth over 2024. This compares to the previous guidance range of $648.0 million to $657.0 million. GAAP net income per diluted share is expected to be in the range of $4.47 to $4.77, up from the previous guidance range of $4.27 to $4.57. This assumes an effective income tax rate of 22%. Non-GAAP net income per diluted share is expected to be in the range of $6.20 to $6.50, up from the previous guidance range of $6.00 to $6.30. This assumes a non-GAAP effective income tax rate of 21%. Full year 2025 net income per diluted share estimates are based on approximately 36.4 million weighted average diluted shares outstanding.

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 third quarter and full year 2025 is likely to have a significant impact on the Company's GAAP net income per diluted share in the third quarter and full year 2025. 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 second quarter financial results at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time) on Tuesday, August 5, 2025. 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 https://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; our guidance for revenues, GAAP EPS and non-GAAP EPS for the third quarter and full year 2025; and our expectations for the number of weighted average diluted shares outstanding and the GAAP and non-GAAP effective income tax rate for the third quarter and full year 2025. 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 United States as well as globally; our ability to manage costs as we increase our customer base and the number of our platform solutions; the market for cloud solutions for IT security and compliance not increasing at the rate we expect; competition from other products and services; fluctuations in currency exchange rates; unexpected fluctuations in our effective income tax rate on a GAAP and non-GAAP basis; our ability to effectively manage our rapid growth and our ability to anticipate future market needs and opportunities; and any unanticipated accounting charges. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

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 21% in 2025 is a reasonable estimate under its current global operating structure and core business operations. The Company may adjust this rate during the year to take into account events or trends that it believes materially impact the estimated annual rate. The non-GAAP effective income tax rate could be subject to change for a number of reasons, including but not limited to, significant changes resulting from tax legislation, material changes in geographic mix of revenues and expenses and other significant events.

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 June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Revenues	$         164,062		$         148,708		$         323,961		$         294,513
Cost of revenues (1)	28,877		26,415		57,803		53,613
Gross profit	135,185		122,293		266,158		240,900
Operating expenses:
Research and development (1)	30,249		27,119		59,403		54,649
Sales and marketing (1)	35,810		32,146		68,470		61,554
General and administrative (1)	17,719		14,960		35,123		31,868
Total operating expenses	83,778		74,225		162,996		148,071
Income from operations	51,407		48,068		103,162		92,829
Other income (expense), net:
Interest income	6,407		6,703		12,642		12,826
Other income (expense), net	999		(587)		1,316		(1,986)
Total other income, net	7,406		6,116		13,958		10,840
Income before income taxes	58,813		54,184		117,120		103,669
Income tax provision	11,523		10,412		22,296		20,166
Net income	$           47,290		$           43,772		$           94,824		$           83,503
Net income per share:
Basic	$                1.30		$                1.19		$                2.61		$                2.26
Diluted	$                1.29		$                1.17		$                2.59		$                2.22
Weighted average shares used in computing net income per share:
Basic	36,253		36,915		36,359		36,935
Diluted	36,519		37,464		36,651		37,594
(1) Includes stock-based compensation as follows:
Cost of revenues	$              1,980		$              1,866		$              4,070		$              3,886
Research and development	4,963		5,160		10,067		10,463
Sales and marketing	3,083		3,632		6,283		7,371
General and administrative	8,020		6,428		16,446		14,397
Total stock-based compensation, net of amounts capitalized	$           18,046		$           17,086		$           36,866		$           36,117

 

Qualys, Inc. CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (in thousands)
	June 30, 2025		December 31, 2024
Assets
Current assets:
Cash and cash equivalents	$         193,983		$         232,182
Short-term marketable securities	176,048		149,241
Accounts receivable, net	128,675		164,551
Prepaid expenses and other current assets	44,266		39,717
Total current assets	542,972		585,691
Long-term marketable securities	251,179		193,887
Property and equipment, net	26,162		30,349
Operating leases - right of use asset	48,678		40,968
Deferred tax assets, net	91,551		81,307
Intangible assets, net	5,533		6,812
Goodwill	7,447		7,447
Noncurrent restricted cash	1,200		1,200
Other noncurrent assets	24,783		25,876
Total assets	$         999,505		$         973,537
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$              1,977		$              1,270
Accrued liabilities	52,768		45,942
Deferred revenues, current	354,971		371,457
Operating lease liabilities, current	7,099		9,721
Total current liabilities	416,815		428,390
Deferred revenues, noncurrent	19,229		24,265
Operating lease liabilities, noncurrent	48,248		37,500
Other noncurrent liabilities	7,046		6,266
Total liabilities	491,338		496,421
Stockholders' equity:
Common stock	36		37
Additional paid-in capital	691,886		664,879
Accumulated other comprehensive income (loss)	(4,086)		1,417
Accumulated deficit	(179,669)		(189,217)
Total stockholders' equity	508,167		477,116
Total liabilities and stockholders' equity	$         999,505		$         973,537

 

Qualys, Inc. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (in thousands)
	Six Months Ended June 30,
	2025		2024
Cash flow from operating activities:
Net income	$           94,824		$           83,503
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	8,155		10,019
Provision for credit losses	850		277
Stock-based compensation, net of amounts capitalized	36,866		36,117
Accretion of discount on marketable securities, net	(2,008)		(3,520)
Deferred income taxes	(8,605)		(8,165)
Changes in operating assets and liabilities:
Accounts receivable	35,026		36,365
Prepaid expenses and other assets	(4,609)		(4,489)
Accounts payable	699		229
Accrued liabilities and other noncurrent liabilities	3,683		(3,215)
Deferred revenues	(21,522)		(11,792)
Net cash provided by operating activities	143,359		135,329
Cash flow from investing activities:
Purchases of marketable securities	(183,545)		(191,812)
Sales and maturities of marketable securities	100,770		198,250
Purchases of property and equipment	(3,365)		(3,077)
Net cash provided by (used in) investing activities	(86,140)		3,361
Cash flow from financing activities:
Repurchase of common stock	(89,545)		(53,017)
Proceeds from exercise of stock options	5,577		5,970
Payments for taxes related to net share settlement of equity awards	(15,267)		(17,711)
Proceeds from issuance of common stock through employee stock purchase plan	3,817		3,608
Payment of acquisition-related holdback	—		(1,500)
Net cash used in financing activities	(95,418)		(62,650)
Net increase (decrease) in cash, cash equivalents and restricted cash	(38,199)		76,040
Cash, cash equivalents and restricted cash at beginning of period	233,382		206,365
Cash, cash equivalents and restricted cash at end of period	$         195,183		$         282,405

 

Qualys, Inc.  RECONCILIATION OF NON-GAAP DISCLOSURES  ADJUSTED EBITDA  (unaudited)  (in thousands, except percentages)
	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Net income	$        47,290		$        43,772		$        94,824		$        83,503
Net income as a percentage of revenues	29 %		29 %		29 %		28 %
Depreciation and amortization of property and equipment	3,339		4,009		6,876		8,476
Amortization of intangible assets	639		771		1,279		1,543
Income tax provision	11,523		10,412		22,296		20,166
Stock-based compensation	18,046		17,086		36,866		36,117
Total other income, net	(7,406)		(6,116)		(13,958)		(10,840)
Adjusted EBITDA	$        73,431		$        69,934		$      148,183		$      138,965
Adjusted EBITDA as a percentage of revenues	45 %		47 %		46 %		47 %

 

Qualys, Inc.  RECONCILIATION OF NON-GAAP DISCLOSURES  (unaudited)  (in thousands, except per share data)
	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
GAAP Cost of revenues	$           28,877		$           26,415		$           57,803		$           53,613
Less: Stock-based compensation	(1,980)		(1,866)		(4,070)		(3,886)
Less: Amortization of intangible assets	(639)		(746)		(1,279)		(1,493)
Non-GAAP Cost of revenues	$           26,258		$           23,803		$           52,454		$           48,234
GAAP Gross profit	$         135,185		$         122,293		$         266,158		$         240,900
Plus: Stock-based compensation	1,980		1,866		4,070		3,886
Plus: Amortization of intangible assets	639		746		1,279		1,493
Non-GAAP Gross Profit	$         137,804		$         124,905		$         271,507		$         246,279
GAAP Research and development	$           30,249		$           27,119		$           59,403		$           54,649
Less: Stock-based compensation	(4,963)		(5,160)		(10,067)		(10,463)
Less: Amortization of intangible assets	—		(25)		—		(50)
Non-GAAP Research and development	$           25,286		$           21,934		$           49,336		$           44,136
GAAP Sales and marketing	$           35,810		$           32,146		$           68,470		$           61,554
Less: Stock-based compensation	(3,083)		(3,632)		(6,283)		(7,371)
Non-GAAP Sales and marketing	$           32,727		$           28,514		$           62,187		$           54,183
GAAP General and administrative	$           17,719		$           14,960		$           35,123		$           31,868
Less: Stock-based compensation	(8,020)		(6,428)		(16,446)		(14,397)
Non-GAAP General and administrative	$              9,699		$              8,532		$           18,677		$           17,471
GAAP Operating expenses	$           83,778		$           74,225		$         162,996		$         148,071
Less: Stock-based compensation	(16,066)		(15,220)		(32,796)		(32,231)
Less: Amortization of intangible assets	—		(25)		—		(50)
Non-GAAP Operating expenses	$           67,712		$           58,980		$         130,200		$         115,790
GAAP Income from operations	$           51,407		$           48,068		$         103,162		$           92,829
Plus: Stock-based compensation	18,046		17,086		36,866		36,117
Plus: Amortization of intangible assets	639		771		1,279		1,543
Non-GAAP Income from operations	$           70,092		$           65,925		$         141,307		$         130,489
GAAP Net income	$           47,290		$           43,772		$           94,824		$           83,503
Plus: Stock-based compensation	18,046		17,086		36,866		36,117
Plus: Amortization of intangible assets	639		771		1,279		1,543
Less: Tax adjustment	(4,763)		(4,717)		(10,310)		(9,513)
Non-GAAP Net income	$           61,212		$           56,912		$         122,659		$         111,650
GAAP Net income per share:
Basic	$                1.30		$                1.19		$                2.61		$                2.26
Diluted	$                1.29		$                1.17		$                2.59		$                2.22
Non-GAAP Net income per share:
Basic	$                1.69		$                1.54		$                3.37		$                3.02
Diluted	$                1.68		$                1.52		$                3.35		$                2.97
Weighted average shares used in GAAP and non-GAAP net income per share:
Basic	36,253		36,915		36,359		36,935
Diluted	36,519		37,464		36,651		37,594

 

Qualys, Inc.  RECONCILIATION OF NON-GAAP DISCLOSURES  FREE CASH FLOWS  (unaudited)  (in thousands)
	Six Months Ended June 30,
	2025		2024
GAAP Cash flows provided by operating activities	$         143,359		$         135,329
Less:
Purchases of property and equipment, net of proceeds from disposal	(3,365)		(3,077)
Non-GAAP Free cash flows	$         139,994		$         132,252

 

Qualys, Inc.  RECONCILIATION OF NON-GAAP DISCLOSURES  CALCULATED CURRENT BILLINGS  (unaudited)  (in thousands, except percentages)
	Three Months Ended June 30,
	2025		2024
GAAP Revenue	$      164,062		$      148,708
GAAP Revenue growth compared to same quarter of prior year	10 %		8 %
Plus: Current deferred revenue at June 30	354,971		324,334
Less: Current deferred revenue at March 31	(366,824)		(332,128)
Non-GAAP Calculated current billings	$      152,209		$      140,914
Calculated current billings growth compared to same quarter of prior year	8 %		(2 %)

 

View original content:https://www.prnewswire.com/news-releases/qualys-announces-second-quarter-2025-financial-results-302521563.html

SOURCE Qualys, Inc.

FAQ

What were Qualys (QLYS) key financial results for Q2 2025?

Qualys reported Q2 2025 revenues of $164.1 million (up 10% YoY), GAAP net income of $47.3 million ($1.29 per share), and non-GAAP net income of $61.2 million ($1.68 per share).

What is Qualys's revenue guidance for full year 2025?

Qualys raised its full-year 2025 revenue guidance to $656-$662 million, representing 8-9% growth over 2024, up from the previous guidance of $648-$657 million.

How did Qualys's operating cash flow perform in Q2 2025?

Qualys's operating cash flow decreased by 32% to $33.8 million compared to $49.8 million in Q2 2024, representing 21% of revenues versus 34% in the previous year.

What were the major business highlights for Qualys in Q2 2025?

Key highlights included launching the managed Risk Operations Center Alliance Partners, expanding TotalAI with advanced AI security capabilities, and being named a Leader in KuppingerCole's Leadership Compass for Attack Surface Management.

What is Qualys's earnings guidance for Q3 2025?

Qualys expects Q3 2025 revenues of $164.5-$167.5 million (7-9% growth), GAAP EPS of $1.00-$1.10, and non-GAAP EPS of $1.50-$1.60.