Qualys Announces Third Quarter 2025 Financial Results
Qualys (NASDAQ: QLYS) reported third-quarter 2025 results with revenues of $169.9M, up 10% year‑over‑year, GAAP net income of $50.3M ($1.39 diluted) and non‑GAAP net income of $67.4M ($1.86 diluted). Gross margin expanded to 84% GAAP and Adjusted EBITDA rose to $82.6M (49% of revenues). Operating cash flow was $90.4M, up 48% year‑over‑year.
Management raised full‑year 2025 revenue guidance to $665.8M–$667.8M (10% growth) and provided Q4 revenue and EPS ranges; non‑GAAP EPS guidance is $6.93–$7.00. Key business milestones include FedRAMP High authorization for GovCloud, AI agent marketplace launch, analyst recognitions, and a new CMO appointment.
Qualys (NASDAQ: QLYS) ha riportato i risultati del terzo trimestre 2025 con ricavi di 169,9 milioni di dollari, in crescita del 10% su base annua, utile netto GAAP di 50,3 milioni di dollari (1,39 dollari diluiti) e utile netto non GAAP di 67,4 milioni di dollari (1,86 dollari diluiti). Il margine lordo si è ampliato all'84% GAAP e l'EBITDA rettificato è salito a 82,6 milioni di dollari (49% dei ricavi). Il flusso di cassa operativo è stato di 90,4 milioni di dollari, in aumento del 48% su base annua.
La direzione ha alzato la guidance per l'intero 2025 dei ricavi a 665,8–667,8 milioni di dollari (10% di crescita) e fornito intervalli di ricavi e EPS per Q4; la guidance EPS non GAAP è 6,93–7,00 dollari. Tra i principali traguardi includono l'autorizzazione FedRAMP High per GovCloud, il lancio del marketplace di agent AI, riconoscimenti degli analisti e una nuova nomina di CMO.
Qualys (NASDAQ: QLYS) informó resultados del tercer trimestre de 2025 con ingresos de 169,9 millones de dólares, un incremento interanual de 10%, una ganancia neta GAAP de 50,3 millones de dólares (1,39 dólares diluidos) y una ganancia neta no GAAP de 67,4 millones de dólares (1,86 dólares diluidos). El margen bruto se expandió a 84% GAAP y el EBITDA ajustado aumentó a 82,6 millones de dólares (49% de los ingresos). El flujo de caja operativo fue de 90,4 millones de dólares, un aumento del 48% interanual. La dirección elevó la guía de ingresos para todo 2025 a 665,8–667,8 millones de dólares (crecimiento del 10%) y proporcionó rangos de ingresos y EPS para el Q4; la guía de EPS no GAAP es de 6,93–7,00 dólares. Los hitos clave incluyen la autorización FedRAMP High para GovCloud, el lanzamiento del marketplace de agentes de IA, reconocimientos de analistas y un nuevo nombramiento de CMO.
Qualys (NASDAQ: QLYS)는 2025년 3분기 실적을 발표했습니다. 매출은 유로 169.9백만 달러, 전년 대비 10% 증가, GAAP 순이익은 5,030만 달러 (희석 주당 1.39달러), 비 GAAP 순이익은 6,740만 달러 (희석 주당 1.86달러)였습니다. 매출 총이익률은 GAAP 기준 84%로 확대되었고 조정된 EBITDA는 8,26천만 달러로 증가했습니다(매출의 49%). 영업현금흐름은 9,04천만 달러로 전년 대비 48% 증가했습니다. 경영진은 2025년 연간 매출 가이던스를 665.8–667.8백만 달러로 상향했고 Q4 매출 및 EPS 범위를 제시했습니다. 비 GAAP EPS 가이던스는 6.93–7.00달러입니다. 주요 사업 성과로 GovCloud를 위한 FedRAMP High 인증, AI 에이전트 마켓플레이스 출시, 애널리스트 인정 및 새로운 CMO 임명이 있습니다.
Qualys (NASDAQ : QLYS) a publié les résultats du troisième trimestre 2025 avec un chiffre d’affaires de 169,9 millions de dollars, en hausse de 10% sur un an, un bénéfice net GAAP de 50,3 millions de dollars (1,39 dollar dilué) et un bénéfice net non GAAP de 67,4 millions de dollars (1,86 dollar dilué). La marge brute s’est étendue à 84% GAAP et l’EBITDA ajusté a augmenté à 82,6 millions de dollars (49% du chiffre d’affaires). Le flux de trésorerie opérationnel s’est élevé à 90,4 millions de dollars, en hausse de 48% sur un an. La direction a relevé l’objectif de revenus pour l’ensemble de 2025 à 665,8–667,8 millions de dollars (croissance de 10%) et a fourni les fourchettes de revenus et de BPA pour le Q4 ; l’objectif de BPA non GAAP est de 6,93–7,00 dollars. Parmi les jalons clés figurent l’autorisation FedRAMP High pour GovCloud, le lancement du marketplace d’agents IA, les reconnaissances des analystes et une nouvelle nomination de Chief Marketing Officer (CMO).
Qualys (NASDAQ: QLYS) meldete die Ergebnisse des dritten Quartals 2025 mit einem Umsatz von 169,9 Mio. USD, einem Jahresvergleich von 10% Steigerung, GAAP-Nettoeinkommen von 50,3 Mio. USD (1,39 USD verwässert) und nicht-GAAP-Nettoeinkommen von 67,4 Mio. USD (1,86 USD verwässert). Die Bruttomarge expandierte auf 84% GAAP und das bereinigte EBITDA stieg auf 82,6 Mio. USD (49% des Umsatzes). Der operative Cashflow betrug 90,4 Mio. USD, ein Anstieg von 48% gegenüber dem Vorjahr. Das Management hob die Full-Year-2025-Umsatzprognose auf 665,8–667,8 Mio. USD an (10% Wachstum) und gab Q4-Umsatz- und EPS-Spannen bekannt; die nicht-GAAP EPS-Prognose liegt bei 6,93–7,00 USD. Wichtige Meilensteine umfassen die FedRAMP High-Zulassung für GovCloud, die Einführung des KI-Agenten-Marktplatzes, Analystenanerkennungen und eine neue CMO-Benennung.
Qualys (ناسداك: QLYS) أبلغت عن نتائج الربع الثالث من 2025 بإيرادات قدرها 169.9 مليون دولار، بزيادة قدرها 10% على أساس سنوي، وصافي دخل GAAP قدره 50.3 مليون دولار (1.39 دولار مُمَزَّ من الأسهم) وصافي دخل غير GAAP قدره 67.4 مليون دولار (1.86 دولار مخفّض). هامش الربح الإجمالي توسع إلى 84% GAAP وارتفع EBITDA المعدل إلى 82.6 مليون دولار (49% من الإيرادات). بلغ التدفق النقدي من الأنشطة التشغيلية 90.4 مليون دولار، بزيادة 48% على أساس سنوي. رفعت الإدارة توجيه الإيرادات للسنة الكاملة 2025 إلى 665.8–667.8 مليون دولار (نمو 10%) ووفرت نطاقات الإيرادات وEPS للربع الرابع؛ توجيه EPS غير GAAP هو 6.93–7.00 دولار. من بين المعالم الرئيسية اعتماد FedRAMP High لـ GovCloud، إطلاق سوق وكيل الذكاء الاصطناعي، تكريمات المحللين وتعيين مدير تسويق تنفيذي جديد (CMO).
- Revenue +10% YoY to $169.9M in Q3 2025
- Gross margin expanded to 84% GAAP (Q3 2025)
- Adjusted EBITDA $82.6M (49% of revenues)
- Operating cash flow +48% YoY to $90.4M
- Raised full‑year 2025 revenue guidance to $665.8M–$667.8M
- Company did not reconcile non‑GAAP EPS guidance to GAAP, limiting visibility into reconciling items
- GAAP net income per diluted share depends on significant unreconciled items that may materially affect results
Insights
Qualys delivered 10% revenue growth, raised full‑year revenue guidance and showed stronger profitability and cash generation.
Quarterly revenues rose to
Management raised full year 2025 revenue guidance to
Dependencies and risks are explicit in the disclosure: guidance assumes an effective tax rate and weighted average diluted shares of ~36.4 million for full year 2025, and the company noted it has not reconciled non‑GAAP EPS to GAAP EPS because it does not provide guidance on reconciling items; management warns those reconciling items could materially affect GAAP EPS. Watch the announced ranges for Q4
Revenue Growth of
Raises 2025 Revenue Guidance to
"In Q3, we continued to execute well, demonstrated by another quarter of solid revenue growth and profitability," said Sumedh Thakar, Qualys' president and CEO. "Qualys' continuous innovation, early Risk Operations Center deployments, strategic wins with major federal and state agencies, momentum in partner-led initiatives, and the initial adoption of our flexible platform pricing model collectively underscore Qualys' strength in unifying risk management workflows, reducing operational complexity for customers, and addressing today's toughest security challenges. We believe these achievements not only validate our ongoing investments but also position Qualys as a trusted leader in pre-breach cyber risk management, setting the stage for durable growth and long-term success."
Third Quarter 2025 Financial Highlights
Revenues: Revenues for the third quarter of 2025 increased by
Gross Profit: GAAP gross profit for the third quarter of 2025 increased by
Operating Income: GAAP operating income for the third quarter of 2025 increased by
Net Income: GAAP net income for the third quarter of 2025 increased by
Adjusted EBITDA: Adjusted EBITDA (a non-GAAP financial measure) for the third quarter of 2025 increased by
Operating Cash Flow: Operating cash flow for the third quarter of 2025 increased by
Third Quarter 2025 Business Highlights
- Qualys received FedRAMP High Authorization for its GovCloud Platform, making it one of the few cybersecurity platforms meeting the rigorous federal security and compliance standards. This milestone expands Qualys' ability to support civilian, defense, and intelligence agencies in strengthening cyber resilience and accelerating secure cloud adoption.
- Unveiled a marketplace of agentic AI-powered agents to autonomously drive every step of cyber risk operations, helping organizations further improve risk posture and reduce operational costs via Qualys' Enterprise TruRisk Management solution.
- Received two prestigious Pwnie Awards for Epic Achievement and Best Remote Code Execution, recognizing the Qualys Threat Research Unit. Qualys' Threat Research Unit underpins the Enterprise TruRisk Manangement Platform's ability to rapidly remediate exposures and block attacks before adversaries can act.
- Qualys earned multiple leadership recognitions across key analyst reports, including IDC MarketScape (Cloud Native Application Protection Platform (CNAPP) and Exposure Management), GigaOm Radar (Patch Management and CNAPP), Gartner Market Guide (CNAPP), and KuppingerCole Leadership Compass (API Security), highlighting its strong position in cloud security and exposure management markets.
- Qualys appointed May Mitchell as Chief Marketing Officer to lead the company's global marketing strategy and revenue-generating go-to-market initiatives.
Financial Performance Outlook
Based on information as of today, November 4, 2025, Qualys is issuing the following financial guidance for the fourth 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.
Fourth Quarter 2025 Guidance: Management expects revenues for the fourth quarter of 2025 to be in the range of
Full Year 2025 Guidance: Management now expects revenues for the full year of 2025 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 fourth quarter and full year 2025 is likely to have a significant impact on the Company's GAAP net income per diluted share in the fourth 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 third quarter financial results at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time) on Tuesday, November 4, 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 fourth 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 fourth 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 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.
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Qualys, Inc. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (in thousands, except per share data) |
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Three Months Ended
|
|
Nine Months Ended
|
||||
|
|
2025 |
|
2024 |
|
2025 |
|
2024 |
|
Revenues |
$ 169,882 |
|
$ 153,867 |
|
$ 493,843 |
|
$ 448,380 |
|
Cost of revenues (1) |
27,798 |
|
28,832 |
|
85,601 |
|
82,445 |
|
Gross profit |
142,084 |
|
125,035 |
|
408,242 |
|
365,935 |
|
Operating expenses: |
|
|
|
|
|
|
|
|
Research and development (1) |
28,927 |
|
28,901 |
|
88,330 |
|
83,550 |
|
Sales and marketing (1) |
35,280 |
|
32,686 |
|
103,750 |
|
94,240 |
|
General and administrative (1) |
17,922 |
|
18,494 |
|
53,045 |
|
50,362 |
|
Total operating expenses |
82,129 |
|
80,081 |
|
245,125 |
|
228,152 |
|
Income from operations |
59,955 |
|
44,954 |
|
163,117 |
|
137,783 |
|
Other income (expense), net: |
|
|
|
|
|
|
|
|
Interest income |
6,264 |
|
6,764 |
|
18,906 |
|
19,590 |
|
Other income (expense), net |
(937) |
|
605 |
|
379 |
|
(1,381) |
|
Total other income, net |
5,327 |
|
7,369 |
|
19,285 |
|
18,209 |
|
Income before income taxes |
65,282 |
|
52,323 |
|
182,402 |
|
155,992 |
|
Income tax provision |
14,936 |
|
6,111 |
|
37,232 |
|
26,277 |
|
Net income |
$ 50,346 |
|
$ 46,212 |
|
$ 145,170 |
|
$ 129,715 |
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Net income per share: |
|
|
|
|
|
|
|
|
Basic |
$ 1.40 |
|
$ 1.26 |
|
$ 4.00 |
|
$ 3.52 |
|
Diluted |
$ 1.39 |
|
$ 1.24 |
|
$ 3.97 |
|
$ 3.46 |
|
Weighted average shares used in computing net |
|
|
|
|
|
|
|
|
Basic |
36,037 |
|
36,762 |
|
36,250 |
|
36,877 |
|
Diluted |
36,293 |
|
37,136 |
|
36,530 |
|
37,441 |
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(1) Includes stock-based compensation as follows: |
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|
|
|
|
|
|
|
Cost of revenues |
$ 2,172 |
|
$ 2,081 |
|
$ 6,242 |
|
$ 5,967 |
|
Research and development |
5,207 |
|
5,448 |
|
15,274 |
|
15,911 |
|
Sales and marketing |
3,490 |
|
3,649 |
|
9,773 |
|
11,020 |
|
General and administrative |
8,578 |
|
9,159 |
|
25,024 |
|
23,556 |
|
Total stock-based compensation, net of |
$ 19,447 |
|
$ 20,337 |
|
$ 56,313 |
|
$ 56,454 |
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Qualys, Inc. CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (in thousands) |
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|
September 30,
|
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December 31,
|
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Assets |
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Current assets: |
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|
|
|
Cash and cash equivalents |
$ 225,253 |
|
$ 232,182 |
|
Short-term marketable securities |
193,321 |
|
149,241 |
|
Accounts receivable, net |
128,418 |
|
164,551 |
|
Prepaid expenses and other current assets |
49,720 |
|
39,717 |
|
Total current assets |
596,712 |
|
585,691 |
|
Long-term marketable securities |
244,984 |
|
193,887 |
|
Property and equipment, net |
24,792 |
|
30,349 |
|
Operating leases - right of use asset |
47,959 |
|
40,968 |
|
Deferred tax assets, net |
76,258 |
|
81,307 |
|
Intangible assets, net |
4,894 |
|
6,812 |
|
Goodwill |
7,447 |
|
7,447 |
|
Noncurrent restricted cash |
1,200 |
|
1,200 |
|
Other noncurrent assets |
27,743 |
|
25,876 |
|
Total assets |
$ 1,031,989 |
|
$ 973,537 |
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Liabilities and Stockholders' Equity |
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|
Current liabilities: |
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|
|
Accounts payable |
$ 1,823 |
|
$ 1,270 |
|
Accrued liabilities |
51,136 |
|
45,942 |
|
Deferred revenues, current |
371,476 |
|
371,457 |
|
Operating lease liabilities, current |
7,345 |
|
9,721 |
|
Total current liabilities |
431,780 |
|
428,390 |
|
Deferred revenues, noncurrent |
16,336 |
|
24,265 |
|
Operating lease liabilities, noncurrent |
47,264 |
|
37,500 |
|
Other noncurrent liabilities |
7,206 |
|
6,266 |
|
Total liabilities |
502,586 |
|
496,421 |
|
Stockholders' equity: |
|
|
|
|
Common stock |
36 |
|
37 |
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Additional paid-in capital |
710,450 |
|
664,879 |
|
Accumulated other comprehensive income (loss) |
(4,210) |
|
1,417 |
|
Accumulated deficit |
(176,873) |
|
(189,217) |
|
Total stockholders' equity |
529,403 |
|
477,116 |
|
Total liabilities and stockholders' equity |
$ 1,031,989 |
|
$ 973,537 |
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Qualys, Inc. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (in thousands) |
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Nine Months Ended
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|
2025 |
|
2024 |
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Cash flow from operating activities: |
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|
|
Net income |
$ 145,170 |
|
$ 129,715 |
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Adjustments to reconcile net income to net cash provided by operating activities: |
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|
|
|
Depreciation and amortization expense |
11,353 |
|
14,410 |
|
Provision for credit losses |
1,110 |
|
411 |
|
Stock-based compensation, net of amounts capitalized |
56,313 |
|
56,454 |
|
Accretion of discount on marketable securities, net |
(2,799) |
|
(5,231) |
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Deferred income taxes |
6,724 |
|
(15,374) |
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Changes in operating assets and liabilities: |
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|
|
|
Accounts receivable |
35,023 |
|
30,848 |
|
Prepaid expenses and other assets |
(13,402) |
|
(9,900) |
|
Accounts payable |
591 |
|
391 |
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Accrued liabilities and other noncurrent liabilities |
1,568 |
|
(1,351) |
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Deferred revenues |
(7,910) |
|
(4,001) |
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Net cash provided by operating activities |
233,741 |
|
196,372 |
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Cash flow from investing activities: |
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|
|
|
Purchases of marketable securities |
(275,379) |
|
(305,952) |
|
Sales and maturities of marketable securities |
182,322 |
|
252,940 |
|
Purchases of property and equipment |
(4,266) |
|
(6,497) |
|
Net cash used in investing activities |
(97,323) |
|
(59,509) |
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Cash flow from financing activities: |
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|
|
|
Repurchase of common stock |
(138,754) |
|
(97,188) |
|
Proceeds from exercise of stock options |
8,856 |
|
8,311 |
|
Payments for taxes related to net share settlement of equity awards |
(20,200) |
|
(23,093) |
|
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 |
(143,347) |
|
(106,598) |
|
Net increase (decrease) in cash, cash equivalents and restricted cash |
(6,929) |
|
30,265 |
|
Cash, cash equivalents and restricted cash at beginning of period |
233,382 |
|
206,365 |
|
Cash, cash equivalents and restricted cash at end of period |
$ 226,453 |
|
$ 236,630 |
|
Qualys, Inc. RECONCILIATION OF NON-GAAP DISCLOSURES ADJUSTED EBITDA (unaudited) (in thousands, except percentages) |
|||||||
|
|
|||||||
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||
|
|
2025 |
|
2024 |
|
2025 |
|
2024 |
|
Net income |
$ 50,346 |
|
$ 46,212 |
|
$ 145,170 |
|
$ 129,715 |
|
Net income as a percentage of revenues |
30 % |
|
30 % |
|
29 % |
|
29 % |
|
Depreciation and amortization of property and |
2,559 |
|
3,670 |
|
9,435 |
|
12,146 |
|
Amortization of intangible assets |
639 |
|
721 |
|
1,918 |
|
2,264 |
|
Income tax provision |
14,936 |
|
6,111 |
|
37,232 |
|
26,277 |
|
Stock-based compensation |
19,447 |
|
20,337 |
|
56,313 |
|
56,454 |
|
Total other income, net |
(5,327) |
|
(7,369) |
|
(19,285) |
|
(18,209) |
|
Adjusted EBITDA |
$ 82,600 |
|
$ 69,682 |
|
$ 230,783 |
|
$ 208,647 |
|
Adjusted EBITDA as a percentage of revenues |
49 % |
|
45 % |
|
47 % |
|
47 % |
|
Qualys, Inc. RECONCILIATION OF NON-GAAP DISCLOSURES (unaudited) (in thousands, except per share data) |
|||||||
|
|
|||||||
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||
|
|
2025 |
|
2024 |
|
2025 |
|
2024 |
|
GAAP Cost of revenues |
$ 27,798 |
|
$ 28,832 |
|
$ 85,601 |
|
$ 82,445 |
|
Less: Stock-based compensation |
(2,172) |
|
(2,081) |
|
(6,242) |
|
(5,967) |
|
Less: Amortization of intangible assets |
(639) |
|
(705) |
|
(1,918) |
|
(2,198) |
|
Non-GAAP Cost of revenues |
$ 24,987 |
|
$ 26,046 |
|
$ 77,441 |
|
$ 74,280 |
|
GAAP Gross profit |
$ 142,084 |
|
$ 125,035 |
|
$ 408,242 |
|
$ 365,935 |
|
Plus: Stock-based compensation |
2,172 |
|
2,081 |
|
6,242 |
|
5,967 |
|
Plus: Amortization of intangible assets |
639 |
|
705 |
|
1,918 |
|
2,198 |
|
Non-GAAP Gross Profit |
$ 144,895 |
|
$ 127,821 |
|
$ 416,402 |
|
$ 374,100 |
|
GAAP Research and development |
$ 28,927 |
|
$ 28,901 |
|
$ 88,330 |
|
$ 83,550 |
|
Less: Stock-based compensation |
(5,207) |
|
(5,448) |
|
(15,274) |
|
(15,911) |
|
Less: Amortization of intangible assets |
— |
|
(16) |
|
— |
|
(66) |
|
Non-GAAP Research and development |
$ 23,720 |
|
$ 23,437 |
|
$ 73,056 |
|
$ 67,573 |
|
GAAP Sales and marketing |
$ 35,280 |
|
$ 32,686 |
|
$ 103,750 |
|
$ 94,240 |
|
Less: Stock-based compensation |
(3,490) |
|
(3,649) |
|
(9,773) |
|
(11,020) |
|
Non-GAAP Sales and marketing |
$ 31,790 |
|
$ 29,037 |
|
$ 93,977 |
|
$ 83,220 |
|
GAAP General and administrative |
$ 17,922 |
|
$ 18,494 |
|
$ 53,045 |
|
$ 50,362 |
|
Less: Stock-based compensation |
(8,578) |
|
(9,159) |
|
(25,024) |
|
(23,556) |
|
Non-GAAP General and administrative |
$ 9,344 |
|
$ 9,335 |
|
$ 28,021 |
|
$ 26,806 |
|
GAAP Operating expenses |
$ 82,129 |
|
$ 80,081 |
|
$ 245,125 |
|
$ 228,152 |
|
Less: Stock-based compensation |
(17,275) |
|
(18,256) |
|
(50,071) |
|
(50,487) |
|
Less: Amortization of intangible assets |
— |
|
(16) |
|
— |
|
(66) |
|
Non-GAAP Operating expenses |
$ 64,854 |
|
$ 61,809 |
|
$ 195,054 |
|
$ 177,599 |
|
GAAP Income from operations |
$ 59,955 |
|
$ 44,954 |
|
$ 163,117 |
|
$ 137,783 |
|
Plus: Stock-based compensation |
19,447 |
|
20,337 |
|
56,313 |
|
56,454 |
|
Plus: Amortization of intangible assets |
639 |
|
721 |
|
1,918 |
|
2,264 |
|
Non-GAAP Income from operations |
$ 80,041 |
|
$ 66,012 |
|
$ 221,348 |
|
$ 196,501 |
|
GAAP Net income |
$ 50,346 |
|
$ 46,212 |
|
$ 145,170 |
|
$ 129,715 |
|
Plus: Stock-based compensation |
19,447 |
|
20,337 |
|
56,313 |
|
56,454 |
|
Plus: Amortization of intangible assets |
639 |
|
721 |
|
1,918 |
|
2,264 |
|
Less: Tax adjustment |
(2,991) |
|
(9,299) |
|
(13,301) |
|
(18,812) |
|
Non-GAAP Net income |
$ 67,441 |
|
$ 57,971 |
|
$ 190,100 |
|
$ 169,621 |
|
GAAP Net income per share: |
|
|
|
|
|
|
|
|
Basic |
$ 1.40 |
|
$ 1.26 |
|
$ 4.00 |
|
$ 3.52 |
|
Diluted |
$ 1.39 |
|
$ 1.24 |
|
$ 3.97 |
|
$ 3.46 |
|
Non-GAAP Net income per share: |
|
|
|
|
|
|
|
|
Basic |
$ 1.87 |
|
$ 1.58 |
|
$ 5.24 |
|
$ 4.60 |
|
Diluted |
$ 1.86 |
|
$ 1.56 |
|
$ 5.20 |
|
$ 4.53 |
|
Weighted average shares used in GAAP and non-GAAP net income per share: |
|||||||
|
Basic |
36,037 |
|
36,762 |
|
36,250 |
|
36,877 |
|
Diluted |
36,293 |
|
37,136 |
|
36,530 |
|
37,441 |
|
Qualys, Inc. RECONCILIATION OF NON-GAAP DISCLOSURES FREE CASH FLOWS (unaudited) (in thousands) |
|||
|
|
|||
|
|
Nine Months Ended
|
||
|
|
2025 |
|
2024 |
|
GAAP Cash flows provided by operating activities |
$ 233,741 |
|
$ 196,372 |
|
Less: |
|
|
|
|
Purchases of property and equipment, net of proceeds from disposal |
(4,266) |
|
(6,497) |
|
Non-GAAP Free cash flows |
$ 229,475 |
|
$ 189,875 |
|
Qualys, Inc. RECONCILIATION OF NON-GAAP DISCLOSURES CALCULATED CURRENT BILLINGS (unaudited) (in thousands, except percentages) |
|||
|
|
|||
|
|
Three Months Ended
|
||
|
|
2025 |
|
2024 |
|
GAAP Revenue |
$ 169,882 |
|
$ 153,867 |
|
GAAP Revenue growth compared to same quarter of prior year |
10 % |
|
8 % |
|
Plus: Current deferred revenue at September 30 |
371,476 |
|
337,821 |
|
Less: Current deferred revenue at June 30 |
(354,971) |
|
(324,334) |
|
Non-GAAP Calculated current billings |
$ 186,387 |
|
$ 167,354 |
|
Calculated current billings growth compared to same quarter of prior year |
11 % |
|
14 % |
View original content:https://www.prnewswire.com/news-releases/qualys-announces-third-quarter-2025-financial-results-302604291.html
SOURCE Qualys, Inc.
FAQ
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