Qualys(US:QLYS)2025-05-06 20:08Financial Performance - Revenues for Q1 2025 increased by 10% to $159.9 million compared to $145.8 million in Q1 2024[3] - GAAP net income for Q1 2025 rose by 20% to $47.5 million, or $1.29 per diluted share, compared to $39.7 million, or $1.05 per diluted share, in Q1 2024[6] - Operating cash flow for Q1 2025 increased by 28% to $109.6 million, representing 69% of revenues compared to 59% in Q1 2024[8] - Non-GAAP net income for Q1 2025 was $61.4 million, or $1.67 per diluted share, compared to $54.7 million, or $1.45 per diluted share, in Q1 2024[6] - GAAP operating income for Q1 2025 increased by 16% to $51.8 million, representing 32% of revenues compared to 31% in Q1 2024[5] - Net income for the same period rose to $47,534 thousand, representing a net income margin of 30%, up from 27% in the prior year[33] - Basic net income per share increased to $1.30 for the three months ended March 31, 2025, compared to $1.08 in the same period of 2024[35] Guidance and Expectations - The company raised its full year 2025 revenue guidance to a range of $648 million to $657 million, reflecting a growth of 7% to 8% over 2024[12] - The company expects Q2 2025 revenues to be in the range of $159.7 million to $162.7 million, representing 7% to 9% growth over Q2 2024[11] Cash Flow and Assets - Non-GAAP free cash flows for the three months ended March 31, 2025, were $107,550 thousand, compared to $83,454 thousand in the same period of 2024[37] - Cash and cash equivalents increased to $290,671 thousand as of March 31, 2025, up from $232,182 thousand at the end of 2024[29] - Total assets reached $996,471 thousand as of March 31, 2025, compared to $973,537 thousand at the end of 2024[29] - Total liabilities were $498,436 thousand as of March 31, 2025, slightly up from $496,421 thousand at the end of 2024[29] Revenue and Deferred Revenue - Current deferred revenue as of March 31, 2025, was $366,824 thousand, compared to $332,128 thousand in the same period of the previous year[39] - Revenues for the three months ended March 31, 2025, increased to $159,899 thousand, a growth of 10% compared to $145,805 thousand in the same period of 2024[27] Adjusted Metrics - Adjusted EBITDA for Q1 2025 increased by 8% to $74.8 million, maintaining a margin of 47% of revenues[7] - Adjusted EBITDA for the three months ended March 31, 2025, was $74,752 thousand, maintaining 47% as a percentage of revenues, consistent with the previous year[33] Stock-Based Compensation - Stock-based compensation totaled $18,820 thousand for the three months ended March 31, 2025, down from $19,031 thousand in the same period of 2024[35] New Initiatives - The company introduced the Managed Risk Operation Center (mROC) to help partners expand revenue streams through a unified managed service[15] - Qualys launched TotalAppSec, a comprehensive application risk management solution, enhancing its cybersecurity offerings[15]