Qualys(QLYS) - 2025 Q3 - Quarterly Results

Financial Performance - Revenue for Q3 2025 increased by 10% to $169.9 million compared to $153.9 million in Q3 2024[3] - GAAP net income for Q3 2025 was $50.3 million, or $1.39 per diluted share, up 9% from $46.2 million, or $1.24 per diluted share in Q3 2024[6] - Non-GAAP net income for Q3 2025 was $67.4 million, or $1.86 per diluted share, compared to $58.0 million, or $1.56 per diluted share in Q3 2024[6] - Adjusted EBITDA for Q3 2025 increased by 19% to $82.6 million, representing 49% of revenues[7] - Operating cash flow for Q3 2025 rose by 48% to $90.4 million, accounting for 53% of revenues[8] - Full year 2025 revenue guidance raised to $665.8 million to $667.8 million, reflecting a 10% growth over 2024[12] - Fourth quarter 2025 revenue expected to be between $172.0 million and $174.0 million, indicating 8% to 9% growth year-over-year[11] - Revenues for Q3 2025 reached $169,882 million, a 10.5% increase from $153,867 million in Q3 2024[27] - Gross profit for the nine months ended September 30, 2025, was $408,242 million, up from $365,935 million in the same period of 2024, reflecting a growth of 11.5%[27] - Net income for Q3 2025 was $50,346 million, compared to $46,212 million in Q3 2024, representing an increase of 4.9%[27] - Adjusted EBITDA for Q3 2025 was $82,600 million, which is 49% of revenues, compared to 45% in Q3 2024[33] - Cash flow from operating activities for the nine months ended September 30, 2025, was $233,741 million, compared to $196,372 million in 2024, indicating a growth of 19%[31] - GAAP revenue for the three months ended September 30, 2025, was $169,882 million, representing a 10% growth compared to the same quarter of the prior year[39] - Non-GAAP calculated current billings for the three months ended September 30, 2025, were $186,387 million, reflecting an 11% growth year-over-year[39] - GAAP net income for the nine months ended September 30, 2025, was $145,170 million, an increase from $129,715 million in the same period of 2024[35] - Non-GAAP net income for the nine months ended September 30, 2025, reached $190,100 million, compared to $169,621 million in the prior year[35] - Non-GAAP gross profit for the three months ended September 30, 2025, was $144,895 million, up from $127,821 million in the same quarter of 2024[35] - Non-GAAP operating expenses for the nine months ended September 30, 2025, totaled $195,054 million, compared to $177,599 million in the same period of 2024[35] - Non-GAAP free cash flows for the nine months ended September 30, 2025, were $229,475 million, an increase from $189,875 million in the same period of 2024[37] - GAAP income from operations for the three months ended September 30, 2025, was $59,955 million, compared to $44,954 million in the same quarter of 2024[35] - Basic GAAP net income per share for the nine months ended September 30, 2025, was $4.00, up from $3.52 in the same period of 2024[35] - Diluted non-GAAP net income per share for the nine months ended September 30, 2025, was $5.20, compared to $4.53 in the prior year[35] Operational Developments - Qualys received FedRAMP High Authorization for its GovCloud Platform, enhancing its capabilities for federal agencies[15] - The company launched a marketplace of AI-powered agents to improve cyber risk operations[15] - May Mitchell appointed as Chief Marketing Officer to lead global marketing strategy[15] Asset and Equity Growth - Total assets as of September 30, 2025, were $1,031,989 million, an increase from $973,537 million at the end of 2024[29] - The company’s total stockholders' equity increased to $529,403 million as of September 30, 2025, up from $477,116 million at the end of 2024[29] Expense Management - Total operating expenses for the nine months ended September 30, 2025, were $245,125 million, an increase from $228,152 million in 2024, marking a rise of 7.4%[27] - The company reported a net cash used in investing activities of $97,323 million for the nine months ended September 30, 2025, compared to $59,509 million in 2024[31]