USA News Group News Commentary Issued on behalf of Scope Technologies Corp. and Avant Technologies Inc. VANCOUVER, March 25, 2025 /PRNewswire/ -- USA News Group News Commentary – The pace of technological change is accelerating fast—reshaping how we compute, analyze data, and create. But as quantum computing inches closer to reality, cybersecurity experts are raising serious red flags. One major concern? "Q-Day"—a looming event where quantum-powered attackers could crack today's strongest encryption in mere ...

Financial Performance - Revenues for 2024 reached $607,571 thousand, a 9.6% increase from $554,458 thousand in 2023[317]. - Gross profit for 2024 was $496,089 thousand, up 10.9% from $446,973 thousand in 2023[317]. - Net income for 2024 increased to $173,680 thousand, representing a 14.6% growth compared to $151,595 thousand in 2023[320]. - Basic net income per share rose to $4.72 in 2024, up from $4.11 in 2023, reflecting a 14.8% increase[317]. - Total revenues for the year ended December 31, 2024, reached $607.6 million, up 9.6% from $554.5 million in 2023[403]. - The net income for the year ended December 31, 2024, was $173.7 million, up 14.6% from $151.6 million in 2023[458]. - Revenue from the United States for the year ended December 31, 2024, was $354.6 million, while foreign revenue was $253.0 million[459]. Assets and Liabilities - As of December 31, 2024, Qualys reported total assets of $973.5 million, an increase from $812.6 million in 2023, representing a growth of approximately 20%[313]. - The company had $575.3 million in cash, cash equivalents, and marketable securities as of December 31, 2024, with no material decrease in fair value expected from a hypothetical 100 basis point increase in interest rates[293]. - The company reported a net accumulated deficit of $189.2 million in 2024, reduced from $228.1 million in 2023, indicating an improvement in financial health[313]. - The Company had total long-lived assets of $71.3 million as of December 31, 2024, compared to $55.0 million in 2023[459]. - The total fair value of marketable securities due within one year was $185,571,000, while those due after one year through five years totaled $186,367,000 as of December 31, 2024[385]. Cash Flow and Investments - Cash flow from operating activities for 2024 was $244,094 thousand, slightly down from $244,605 thousand in 2023[323]. - The company repurchased common stock worth $139,875 thousand in 2024, compared to $170,800 thousand in 2023[323]. - The Company has total purchase commitments of $56.4 million as of December 31, 2024, with $25.1 million due in 2025[415]. - The company incurred advertising costs of $2.9 million in 2024, which is a decrease from the previous years[361]. Stock-Based Compensation - The total stock-based compensation expense for the year ended December 31, 2024 was $77.1 million, an increase of 11.8% from $69.1 million in 2023[439]. - The intrinsic value of options exercised in 2024 was $24.0 million, compared to $41.7 million in 2023, indicating a decrease of 42.0%[431]. - The aggregate fair value of RSUs vested in 2024 was $56.2 million, up from $55.7 million in 2023, reflecting a 0.9% increase[435]. - The company recognized stock-based compensation expenses related to PRSUs of $12.4 million in 2024, a significant increase from $7.4 million in 2023[440]. - The number of shares authorized for issuance under the 2021 Employee Stock Purchase Plan was 600 thousand, with 59 thousand shares issued in 2024[428][429]. Research and Development - The company anticipates continued investments in sales and marketing, infrastructure, and research and development to support growth and innovation[290]. - Research and development expenses for 2024 were $111,852 thousand, a slight increase from $110,472 thousand in 2023[317]. Deferred Revenues and Contracts - Deferred revenues increased to $395.7 million in 2024 from $364.9 million in 2023, indicating a growth of approximately 8.4%[313]. - The Company recognizes revenue from subscriptions ratably over the contract terms, which generally last one year, with some contracts extending up to five years[352]. - Deferred revenues as of the balance sheet date consist of customer contracts billed or cash received that will be recognized in the future, with the current portion expected to be recognized within one year[358]. Foreign Currency and Derivatives - Qualys has designated cash flow hedge forward contracts with notional amounts of €51.4 million, £20.3 million, and Rs.4,381.0 million to mitigate foreign currency risks[291]. - The company utilizes derivative financial instruments to reduce foreign currency exchange risks, primarily through foreign currency forward contracts with maturities of 13 months or less[350]. - The total foreign exchange losses, net for the year ended December 31, 2024, were $3,192,000, compared to losses of $697,000 in 2023[393]. Tax and Compliance - The effective tax rate for the Company was 17.2% for the year ended December 31, 2024, compared to 15.1% in 2023[449]. - The Company reported a deferred tax asset of $94.6 million as of December 31, 2024, compared to $72.4 million in 2023[450]. - The unrecognized tax benefits increased to $12.1 million as of December 31, 2024, from $11.9 million in 2023[452].

Qualys (NASDAQ: QLYS ) is a cloud-based enterprise cybersecurity company I have been following for a while. In the past I have covered the stock twice, with the most recent one in April last year, when I assignedAnalyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in QLYS over the next 72 hours. I wrote this article ...

Qualys, Inc. QLYS reported upbeat earnings for its fourth quarter on Thursday.The company posted quarterly earnings of $1.60 per share which beat the analyst consensus estimate of $1.35 per share. The company reported quarterly sales of $159.191 million which beat the analyst consensus estimate of $156.192 million.“Customers are starting to leverage the breadth and depth of the Qualys Enterprise TruRisk Platform as they look to rearchitect and transform their security stacks,” said Sumedh Thakar, Qualys’ pr ...

Qualys, Inc. (QLYS) ended 2024 on a strong note with better-than-expected results for the fourth quarter. The company reported fourth-quarter 2024 non-GAAP earnings of $1.60 per share, which surpassed the Zacks Consensus Estimate of $1.35 and came above management’s guidance of $1.28-$1.38.Find the latest earnings estimates and surprises on Zacks Earnings Calendar.The bottom line also witnessed a significant improvement from the year-ago quarter’s earnings of $1.40. The robust year-over-year growth was prim ...

Financial Data and Key Metrics Changes - For the full year 2024, the company reported a revenue growth of 10% to $607.6 million, with an adjusted EBITDA margin of 47% and net income increasing by 16% to $229 million [31][32] - In Q4 2024, revenues grew 10% to $159.2 million, with channel contributions rising to 48% of total revenues from 44% a year ago [32][33] - Free cash flow reached $231.8 million, representing 38% of revenue, and EPS for Q4 was $1.60 [31][36] Business Line Data and Key Metrics Changes - Patch management and cybersecurity asset management combined accounted for 15% of total bookings and 24% of new bookings in 2024 [34] - Cloud security solutions contributed 4% to 2024 bookings, indicating a growing focus on cloud security [34] Market Data and Key Metrics Changes - International revenue grew by 15%, outpacing domestic growth of 7%, with the US and international revenue mix at 58% and 42%, respectively [33] - The growth retention rate remained approximately at 90%, and the net dollar expansion rate was 103%, unchanged from the prior quarter [33] Company Strategy and Development Direction - The company is focusing on evolving its platform to provide a comprehensive risk analytics and quantification solution, integrating AI models and allowing customers to leverage existing security tools [10][11] - The introduction of the Enterprise True Risk Management (ETM) platform aims to enhance risk quantification and remediation capabilities, positioning the company as a leader in proactive risk management [96][98] - The company plans to continue its partner-first strategy, emphasizing collaboration with partners to drive growth and enhance service offerings [25][50] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the market position and growth opportunities, particularly in the federal sector with anticipated FedRAMP high certification in 2025 [28][90] - The selling environment for 2025 is expected to remain stable, with ongoing budget scrutiny, but the company anticipates continued demand for cybersecurity solutions [33][39] Other Important Information - The board authorized an increase of $200 million to the share repurchase program, bringing the total available amount for share repurchases to $343.4 million [38] - The company is investing in federal go-to-market strategies and expanding its federal team to capitalize on modernization opportunities within government agencies [90] Q&A Session Summary Question: Thoughts on creative packaging opportunities - Management acknowledged the need for customers to articulate cybersecurity spend in terms of business risk and is exploring packaging opportunities around the adoption of ETM [46] Question: Changes expected in sales motion after CRO departure - Management plans to focus on execution and partner-oriented go-to-market strategies, leveraging existing sales leadership to drive business forward [50][56] Question: Early customer feedback on Total AI - Early feedback on Total AI has been positive, with customers expressing interest in leveraging AI security capabilities [66][67] Question: Factors driving better-than-expected Q4 performance - Management noted that better linearity in renewals and invoicing cycles contributed to Q4 revenue performance, despite a weaker pipeline [76][77] Question: Expectations for new logo bookings growth in 2025 - Management anticipates weaker growth in new logo bookings for 2025, focusing on partner-led strategies to drive new customer acquisition [83] Question: Opportunities in the federal vertical - Management is optimistic about opportunities in the federal sector, especially with the anticipated FedRAMP high certification, which could modernize federal cybersecurity solutions [90][91] Question: Go-to-market strategy for ETM - Management highlighted that ETM differentiates itself by providing comprehensive risk quantification and remediation, allowing for easier integration with existing tools [95][98]

Qualys (QLYS) came out with quarterly earnings of $1.60 per share, beating the Zacks Consensus Estimate of $1.35 per share. This compares to earnings of $1.40 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 18.52%. A quarter ago, it was expected that this maker of security-analysis software would post earnings of $1.33 per share when it actually produced earnings of $1.56, delivering a surprise of 17.29%.Over the last four qua ...

Investor Presentation Security and Compliance for the Digital Transformation Sumedh Thakar, President and CEO Joo Mi Kim, CFO February 6, 2025 Safe harbor This presentation includes forward-looking statements within the meaning of the federal securities laws. Forward-looking statements generally relate to future events or our future financial or operating performance. Forward-looking statements in this presentation include, but are not limited to, the following list: Our expectations and beliefs regarding t ...

Q4 Revenue Growth of 10% Year-Over-Year Full Year 2024 Revenue Growth of 10% Year-Over-Year Announces $200 Million Increase to Share Repurchase Program FOSTER CITY, Calif., – February 6, 2025 – Qualys, Inc. (NASDAQ: QLYS), a leading provider of disruptive cloud-based IT, security and compliance solutions, today announced financial results for the fourth quarter and full year ended December 31, 2024. For the quarter, the Company reported revenues of $159.2 million, net income under United States Generally Ac ...

mROC, powered by Qualys Enterprise TruRisk™ Management, accelerates revenue paths for partners helping CISOs articulate cyber risk as business risk FOSTER CITY, Calif., Feb. 5, 2025 /PRNewswire/ -- Qualys, Inc. (NASDAQ: QLYS), a leading provider of disruptive cloud-based IT, security and compliance solutions, today announced the Managed Risk Operations Center (mROC) Partner Alliance, allowing select Qualys partners to expand their revenue streams by offering advisory, onboarding, integration, and remediatio ...