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QLYS

Qualys, Inc.

QLYS

Qualys, Inc. • NASDAQ
$140.85 ▼ -0.55% (-0.78)
Market Cap $5.12 B
52w High $159.73
52w Low $112.61
Dividend Yield 0%
P/E 27.3
Volume 162.75K
Outstanding Shares 36.33M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $169.882M ▲ $82.129M ▼ $50.346M ▲ 29.636% ▲ $1.4 ▲ $68.48M ▲
Q2-2025 $164.062M ▲ $83.778M ▲ $47.29M ▼ 28.824% ▼ $1.3 $55.385M ▼
Q1-2025 $159.899M ▲ $79.218M ▼ $47.534M ▲ 29.728% ▲ $1.3 ▲ $55.932M ▲
Q4-2024 $159.191M ▲ $80.741M ▲ $43.965M ▼ 27.618% ▼ $1.2 ▼ $53.516M ▲
Q3-2024 $153.867M $80.081M $46.212M 30.034% $1.26 $49.345M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $418.574M ▲ $1.032B ▲ $502.586M ▲ $529.403M ▲
Q2-2025 $370.031M ▼ $999.505M ▲ $491.338M ▼ $508.167M ▲
Q1-2025 $440.877M ▲ $996.471M ▲ $498.436M ▲ $498.035M ▲
Q4-2024 $381.423M ▼ $973.537M ▲ $496.421M ▲ $477.116M ▲
Q3-2024 $386.343M $908.323M $458.728M $449.595M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $50.346M ▲ $90.382M ▲ $-11.183M ▲ $-47.929M ▲ $31.27M ▲ $89.481M ▲
Q2-2025 $47.29M ▼ $33.771M ▼ $-79.109M ▼ $-51.35M ▼ $-96.688M ▼ $32.444M ▼
Q1-2025 $47.534M ▲ $109.588M ▲ $-7.031M ▲ $-44.068M ▼ $58.489M ▲ $107.55M ▲
Q4-2024 $43.965M ▼ $47.722M ▼ $-11.918M ▲ $-39.052M ▲ $-3.248M ▲ $41.885M ▼
Q3-2024 $46.212M $61.043M $-62.87M $-43.948M $-45.775M $57.623M

Revenue by Products

Product Q2-2020Q1-2025Q2-2025Q3-2025
Reportable Segment
Reportable Segment
 $0 ▲$160.00M ▲$160.00M ▲$170.00M ▲
Direct
Direct
 $50.00M ▲$0 ▼$0 ▲$0 ▲
Partner
Partner
 $40.00M ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Qualys shows a steady pattern of revenue growth over the last five years, with sales rising every year rather than spiking and falling. Profitability has improved along the way: gross margins are high, and operating income and net income have both expanded faster than revenue, showing good operating leverage. Earnings per share have climbed meaningfully, reflecting both higher profits and disciplined cost control. The picture is of a mature, efficient software business that is still growing, though growth is now coming off a larger base and may naturally trend slower than in its early years.

Balance Sheet

Balance Sheet The balance sheet is conservative and solid. Cash has grown over time, while debt remains low, leaving the company in a net cash position with financial flexibility. Shareholders’ equity has increased, reflecting retained profits and a stronger capital base. Overall, the company appears well-positioned to fund ongoing R&D, marketing, and selective acquisitions without relying heavily on borrowing.

Cash Flow

Cash Flow Cash generation is a clear strength. Operating cash flow has been consistently strong and has broadly kept pace with earnings growth, suggesting profits are backed by real cash, not accounting adjustments. Free cash flow is robust and has improved over time, helped by modest capital spending typical of an asset-light, cloud software model. This provides a dependable internal funding source and a cushion against downturns in customer spending.

Competitive Edge

Competitive Edge Qualys holds a strong niche in vulnerability management and broader cyber risk visibility, built on a cloud-native platform and long-standing customer relationships. Its integrated suite of products creates a “stickiness” that makes it inconvenient for customers to switch, and industry reports continue to recognize it as a leader in continuous vulnerability management. At the same time, it operates in a very competitive field, facing specialized rivals like Tenable and Rapid7 as well as larger security platforms and cloud providers, all pushing risk-based and cloud security tools. Maintaining growth will depend on winning new customers while deepening its footprint with existing ones amid this intense competition.

Innovation and R&D

Innovation and R&D Innovation is a central pillar for Qualys. The company was early in cloud-native vulnerability management and has expanded into broader cloud security, unified risk scoring (TruRisk), and cloud-native application protection. More recently, it is leaning heavily into AI with offerings like TotalAI, enhanced TruRisk platforms, and plans for more autonomous, “agentic” AI capabilities, supported by prior AI-focused acquisitions. The opportunity is to stay ahead of emerging threats and new IT architectures, though it must execute carefully to turn these advanced features into clear, easy-to-use value for customers rather than just adding complexity.

Summary

Taken together, Qualys looks like a financially disciplined cybersecurity company with steady growth, high margins, strong cash generation, and a low-debt balance sheet. Its competitive edge comes from a long-built, integrated, cloud-native platform and a risk-based approach that is difficult for customers to replace. The company is betting its future on expanding from vulnerability management into a broader, AI-enabled cyber risk platform, which could deepen its moat if adoption is strong. Key uncertainties revolve around competitive intensity, the pace at which customers embrace these newer platforms and AI tools, and the general health of corporate IT and security budgets.

NEWS

November 5, 2025 · 9:00 AM UTC

Qualys to Speak at Upcoming Investor Conference

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November 4, 2025 · 4:05 PM UTC

Qualys Announces Third Quarter 2025 Financial Results

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November 3, 2025 · 4:10 PM UTC

Qualys Appoints Bradford L. Brooks to its Board of Directors

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October 21, 2025 · 9:01 AM UTC

Qualys to Report Third Quarter 2025 Financial Results on November 4, 2025

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October 15, 2025 · 10:30 AM UTC

ROCon Houston 2025: Qualys Expands Enterprise TruRisk Management (ETM) with Built-in Agentic AI Fabric to Include Identity Security, Industry-Specific Threat Prioritization, and Exploit Validation

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