Business
Qualys Announces First Quarter 2023 Financial Results
Revenue Growth of 15% Year-Over-Year GAAP EPS: $0.77; Non-GAAP EPS: $1.09 Raises 2023 GAAP EPS Guidance to $2.58 -$2.73 Raises 2023 Non-GAAP EPS Guidance to
About this update from Qualys, Inc.
[{"type":"text","content":"Revenue Growth of 15% Year-Over-Year\nGAAP EPS: $0.77; Non-GAAP EPS: $1.09\nRaises 2023 GAAP EPS Guidance to $2.58 -$2.73\nRaises 2023 Non-GAAP EPS Guidance to $4.13-$4.28\nFOSTER CITY, Calif., May 4, 2023 /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, 2023. For the quarter, the Company reported revenues of $130.7 million, net income under United States Generally Accepted Accounting Principles (\"GAAP\") of $29.1 million, non-GAAP net income of $41.2 million, Adjusted EBITDA of $58.7 million, GAAP net income per diluted share of $0.77, and non-GAAP net income per diluted share of $1.09.\n\"We are pleased to report another quarter of healthy revenue growth, strong profitability, and cash flow generation,\" said Sumedh Thakar, president and CEO. \"In Q1, we continued to strengthen our category leadership with the launch of our inaugural 2023 TruRisk Research Report, providing data-backed insights and actionable steps for organizations to reduce cyber risk and increase organizational resilience. As we continue to innovate and further expand our cloud platform capabilities, we believe we will be uniquely positioned as the fundamental cybersecurity risk management platform to solve modern security challenges at scale and drive durable profitable growth.\"\nFirst Quarter 2023 Financial Highlights\nRevenues: Revenues for the first quarter of 2023 increased by 15% to $130.7 million compared to $113.4 million for the same quarter in 2022.\nGross Profit: GAAP gross profit for the first quarter of 2023 increased by 16% to $103.7 million compared to $89.4 million for the same quarter in 2022. GAAP gross margin was 79% for both the first quarter of 2023 and the same quarter in 2022. Non-GAAP gross profit for the first quarter of 2023 increased by 15% to $106.1 million compared to $92.1 million for the same quarter in 2022. Non-GAAP gross margin was 81% for both the first quarter of 2023 and the same quarter in 2022.\nOperating Income: GAAP operating income for the first quarter of 2023 increased by 5% to $35.2 million compared to $33.5 million for the same quarter in 2022. As a percentage of revenues, GAAP operating income was 27% for the first quarter of 2023 compared to 30% fo...