Business
Qualys Announces First Quarter 2020 Financial Results
Revenue Growth of 14.5% Year-Over-Year GAAP EPS: $0.46; Non-GAAP EPS: $0.65 Announces Additional $100 Million 2-Year Share Repurchase Program FOSTER CITY,
About this update from Qualys, Inc.
[{"type":"text","content":"Revenue Growth of 14.5% Year-Over-Year\n GAAP EPS: $0.46; Non-GAAP EPS: $0.65\n Announces Additional $100 Million 2-Year Share Repurchase Program\n\n\nFOSTER CITY, Calif., May 7, 2020 /PRNewswire/ -- Qualys, Inc. (NASDAQ: QLYS), a pioneer and leading provider of cloud-based IT, security and compliance solutions, today announced financial results for the first quarter ended March 31, 2020. For the quarter, the Company reported revenues of $86.3 million, net income under United States Generally Accepted Accounting Principles (\"U.S. GAAP\") of $18.7 million, non-GAAP net income of $26.7 million, Adjusted EBITDA of $38.2 million, GAAP earnings per diluted share of $0.46, and non-GAAP earnings per diluted share of $0.65. \n\"We are pleased to report another good quarter with accelerated growth in Qualys Cloud Agent subscriptions and strong adoption of our Vulnerability Management, Detection and Response (VMDR) app. Our results reflect the strategic importance of our robust cloud platform for continuously securing and monitoring hybrid environments and remote workforces as well as the expansion of our product suite including our innovative VMDR app,\" said Philippe Courtot, chairman and CEO of Qualys. \"We are pleased with our business momentum with both renewals and upsells performing well. Our groundbreaking VMDR application is seeing strong customer reception with nearly 150 customers already subscribed to it. VMDR not only helps proliferate Clouds Agents within our customer base but also sets a strong foundation for further upsell of our other paid applications. In addition, we are seeing a great response to our free remote endpoint protection offering with nearly 500 customers signed up for the service. We will also be extending the free service period for existing customers to enable them to trial the malware detection and response capabilities that we will be adding shortly.\" \n\"In these challenging times, we are uniquely positioned with our profitable cloud platform model as companies accelerate their adoption of cloud-based solutions. This enables us to continue investing and recruiting for top talent as well as assist the community with fast development of free services. Furthermore, I am also pleased to announce our Board has authorized an additional 2-year $100 million open market share repurchase program, which reflect...