Qualys Announces Second Quarter 2024 Financial Results

Core Insights - Qualys, Inc. reported a revenue growth of 8% year-over-year for Q2 2024, with revenues reaching $148.7 million compared to $137.2 million in Q2 2023 [3][35] - The company achieved a GAAP net income of $43.8 million, or $1.17 per diluted share, reflecting a 24% increase from $35.4 million, or $0.95 per diluted share, in the same quarter last year [6][35] - Non-GAAP net income for Q2 2024 was $56.9 million, or $1.52 per diluted share, up from $47.5 million, or $1.27 per diluted share, in Q2 2023 [6][35] Financial Performance - Gross profit for Q2 2024 increased by 11% to $122.3 million, with a GAAP gross margin of 82%, compared to 81% in Q2 2023 [4][35] - Operating income rose by 12% to $48.1 million, representing 32% of revenues, compared to 31% in the same quarter last year [5][35] - Adjusted EBITDA for Q2 2024 was $69.9 million, a 6% increase from $65.8 million in Q2 2023, with an adjusted EBITDA margin of 47% [7][35] Business Highlights - The company launched a new global Managed Security Service Provider (MSSP) portal to enhance partner operations and client acquisition [9] - Significant enhancements were made to the CyberSecurity Asset Management 3.0 platform, particularly in External Attack Surface Management (EASM) [10] - Qualys expanded its focus on the government sector, aligning with federal zero-trust strategies and hosting a Public Sector Cyber Risk Conference [10] Guidance - For Q3 2024, Qualys expects revenues between $149.8 million and $151.8 million, indicating a growth of 5% to 7% year-over-year [12] - The full-year revenue guidance for 2024 is projected to be between $597.5 million and $601.5 million, representing an 8% growth compared to 2023 [13]