Business
Qualys Announces First Quarter 2022 Financial Results
Revenue Growth of 17% Year-Over-YearGAAP EPS: $0.64; Non-GAAP EPS: $0.89Raises 2022 Revenue Guidance to $484.0-$486.5 millionAnnounces $200 Million Increase
About this update from Qualys, Inc.
[{"type":"text","content":"Revenue Growth of 17% Year-Over-YearGAAP EPS: $0.64; Non-GAAP EPS: $0.89Raises 2022 Revenue Guidance to $484.0-$486.5 millionAnnounces $200 Million Increase to Share Repurchase Program\n FOSTER CITY, Calif., May 4, 2022 /PRNewswire/ -- Qualys, Inc. (NASDAQ: QLYS), a pioneer and leading provider of disruptive cloud-based IT, security and compliance solutions, today announced financial results for the first quarter ended March 31, 2022. For the quarter, the Company reported revenues of $113.4 million, net income under United States Generally Accepted Accounting Principles (\"U.S. GAAP\") of $25.4 million, non-GAAP net income of $35.6 million, Adjusted EBITDA of $54.3 million, GAAP net income per diluted share of $0.64, and non-GAAP net income per diluted share of $0.89.\n\"We had a great start to the year with continued revenue growth acceleration and strong cash flow generation,\" said Sumedh Thakar, president and CEO. \"As we continue to innovate and build out our go-to-market engine, our strategic position with customers is strengthening. This was again evidenced in the quarter by strong interest and adoption of our Vulnerability Management, Detection and Response (VMDR®) application with customer penetration now at 40%.\"\nFirst Quarter 2022 Financial Highlights\nRevenues: Revenues for the first quarter of 2022 increased by 17% to $113.4 million compared to $96.8 million for the same quarter in 2021.\nGross Profit: GAAP gross profit for the first quarter of 2022 increased by 19% to $89.4 million compared to $75.1 million for the same quarter in 2021. GAAP gross margin was 79% for the first quarter of 2022 compared to 78% for the same quarter in 2021. Non-GAAP gross profit for the first quarter of 2022 increased by 19% to $92.1 million compared to $77.6 million for the same quarter in 2021. Non-GAAP gross margin was 81% for the first quarter of 2022 compared to 80% for the same quarter in 2021.\nOperating Income (Loss): GAAP operating income for the first quarter of 2022 was $33.5 million compared to an operating loss of $2.7 million for the same quarter in 2021, which primarily reflected an increase in stock-based compensation due to the accelerated vesting of the former CEO's equity awards. As a percentage of revenues, GAAP operating income was 30% for the first quarter of 2022 compared to negative 3% for the same quarter in ...