The Zacks Security industry is benefiting from the solid demand for cybersecurity offerings and the heightening need for secure networks and cloud-based applications amid growing hybrid working trends. Companies in this space are benefiting from the rising demand for IT security solutions due to a surge in the number of data breaches. Increasing requirements for privileged access security with digital transformation and cloud migration strategies are also fueling the demand for cybersecurity solutions.Indus ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________________ FORM 10-K ___________________________________________ x Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Fiscal Year Ended December 31, 2023 or Securities registered pursuant to section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes x ...

Financial Data and Key Metrics Changes - The company reported Q4 revenues of $144.6 million, representing a 10% growth year-over-year, with a 13% revenue growth for the full year 2023 and a 47% adjusted EBITDA margin [31][32][39] - Adjusted EBITDA for Q4 was $65.8 million, reflecting a 46% margin compared to a 42% margin a year ago [36] - Free cash flow for the full year 2023 was $235.8 million, representing a 43% margin compared to 37% in the prior year [50] Business Line Data and Key Metrics Changes - The Patch Management and CyberSecurity Asset Management combined accounted for 12% of total bookings and 22% of new bookings in 2023 [35] - VMDR adoption reached 56% of customers worldwide, with steady growth in customer spending of $500,000 or more, which grew 14% year-over-year to 183 customers [29][12] Market Data and Key Metrics Changes - International revenue growth was 13%, outpacing domestic growth of 9%, with expectations for a revenue mix of approximately 60% US and 40% international in 2024 [33] - The channel partners contributed 44% of revenues in Q4, up from 42% a year ago, indicating a shift towards channel-driven growth [32] Company Strategy and Development Direction - The company is focused on disruptive innovation and expanding its platform capabilities, particularly through the Enterprise TruRisk platform, which aims to help security leaders measure and eliminate cyber risk [28][30] - The strategy includes increasing investments in sales and marketing, particularly in channel partnerships, to drive growth and enhance market position [60][63] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to deliver long-term growth despite a challenging macroeconomic environment, emphasizing the importance of product innovation and strategic partnerships [54][39] - The company anticipates a stable selling environment in 2024, with ongoing budget scrutiny becoming the norm for many organizations [47][92] Other Important Information - The board authorized an additional $200 million share repurchase program, bringing the total available for repurchases to $283.7 million [37] - The company plans to align product and marketing investments to focus on specific initiatives aimed at driving more pipeline and enhancing partner programs [53] Q&A Session All Questions and Answers Question: Can you provide more detail on the strong billings growth in the quarter? - Management noted that early renewals typically do not impact revenue recognition in the quarter, as they are combined with upsells [55][77] Question: What are your expectations for gross margins in 2024? - Management indicated that the EBITDA margin for 2024 is expected to be in the low 40s, with opportunities for leverage in the model to potentially expand margins beyond this year [68][91] Question: How is the channel partner growth impacting overall margin trajectory? - Management confirmed that the increase in channel partner contributions has not significantly impacted gross margins, and they expect this trend to continue [108][134]

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Qualys, Inc. (QLYS) is likely to beat expectations when it reports fourth-quarter 2023 results after market close on Feb 12.For the quarter, the company anticipates revenues in the band of $144.1-$145.1 million. The Zacks Consensus Estimate for revenues is pegged at $144.7 million, implying growth of 10.6% from the figure reported in the year-ago quarter.Non-GAAP earnings per share are envisioned in the band of $1.18-$1.28. The Zacks Consensus Estimate is pegged at $1.25 per share, indicating an increase of ...

Qualys (QLYS) came out with quarterly earnings of $1.40 per share, beating the Zacks Consensus Estimate of $1.25 per share. This compares to earnings of $1.01 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 12%. A quarter ago, it was expected that this maker of security-analysis software would post earnings of $1.13 per share when it actually produced earnings of $1.51, delivering a surprise of 33.63%.Over the last four quarte ...

FOSTER CITY, Calif., Feb. 6, 2024  /PRNewswire/ -- Qualys, Inc. (NASDAQ: QLYS), a pioneer and leading provider of disruptive cloud-based IT, security and compliance solutions, today announced that the company will report its financial results for the fourth quarter 2023 after the market closes on Wednesday, February 7, 2024. Qualys will host a conference call and live webcast to discuss its fourth quarter 2023 financial results at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time) on Wednesday, February 7, 202 ...

BOSTON, Feb. 05, 2024 (GLOBE NEWSWIRE) -- Block & Leviton is investigating Qualys, Inc. (NASDAQ:QLYS) for potential securities law violations. Investors who have lost money in their Qualys, Inc. investment should contact the firm to learn more about how they might recover those losses. For more details, visit https://www.blockleviton.com/cases/qlys. What is this all about? On February 5, 2024, Morgan Stanley outlined material topline risks to Qualys resulting from Microsoft's plan to end its partnership wit ...

The market expects Qualys (QLYS) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended December 2023. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on February 12, 2024, might help the stock move higher if these key numbers are ...

Qualys (QLYS) and Ingram Micro collaborated to distribute the former's product suite through the latter’s distribution channels. Ingram Micro specializes in technology solutions, mobility, fulfillment solutions, cloud and lifecycle services.The recent distribution agreement, signed in Singapore, will enable Qualys to expand its footprint further in Southeast Asia. Ingram Micro is one of the largest wholesale technology distributors and has operations in Indonesia, Malaysia, Singapore and Thailand in Southea ...