Qualys(US:QLYS) Prnewswireยท2024-11-05 21:05Core Insights - Qualys, Inc. reported a revenue growth of 8% year-over-year for Q3 2024, with revenues reaching $153.9 million compared to $142.0 million in Q3 2023 [3][35] - The company raised its 2024 revenue guidance to a range of $602.9 million to $605.9 million, reflecting a 9% growth over 2023 [12] - GAAP net income for Q3 2024 was $46.2 million, or $1.24 per diluted share, a slight decrease from $46.5 million, or $1.24 per diluted share, in Q3 2023 [6][27] Financial Performance - Gross profit for Q3 2024 increased by 8% to $125.0 million, maintaining a GAAP gross margin of 81% [4] - Non-GAAP net income for Q3 2024 was $58.0 million, or $1.56 per diluted share, up from $56.7 million, or $1.51 per diluted share, in Q3 2023 [6] - Adjusted EBITDA for Q3 2024 rose by 1% to $69.7 million, with an adjusted EBITDA margin of 45% [7][31] Operating Metrics - GAAP operating income for Q3 2024 increased by 3% to $45.0 million, representing 29% of revenues, down from 31% in Q3 2023 [5] - Operating cash flow decreased by 34% to $61.0 million, accounting for 40% of revenues, compared to 65% in Q3 2023 [8] Business Highlights - The company launched several new capabilities, including the Enterprise TruRisk Management solution and Qualys TotalAI, enhancing its strategic position in cybersecurity [2][9] - Qualys' VMDR was recognized as a leading vulnerability management solution for the fourth consecutive year in the 2024 GigaOm Radar Report [9] Guidance - For Q4 2024, Qualys expects revenues between $154.5 million and $157.5 million, indicating a growth of 7% to 9% year-over-year [11] - The company anticipates GAAP net income per diluted share for Q4 2024 to be in the range of $0.84 to $0.94 [11]