Business
Qualys Announces Fourth Quarter and Full Year 2024 Financial Results
Q4 Revenue Growth of 10% Year-Over-Year Full Year 2024 Revenue Growth of 10% Year-Over-Year Announces $200 Million Increase to Share Repurchase Program FOSTER
About this update from Qualys, Inc.
[{"type":"text","content":"Q4 Revenue Growth of 10% Year-Over-Year\nFull Year 2024 Revenue Growth of 10% Year-Over-Year\nAnnounces $200 Million Increase to Share Repurchase Program\nFOSTER CITY, Calif., Feb. 6, 2025 /PRNewswire/ -- Qualys, Inc. (NASDAQ: QLYS), a leading provider of disruptive cloud-based IT, security and compliance solutions, today announced financial results for the fourth quarter and full year ended December 31, 2024. For the quarter, the Company reported revenues of $159.2 million, net income under United States Generally Accepted Accounting Principles (\"GAAP\") of $44.0 million, non-GAAP net income of $59.4 million, Adjusted EBITDA of $74.2 million, GAAP net income per diluted share of $1.19, and non-GAAP net income per diluted share of $1.60.\n\n\"Customers are starting to leverage the breadth and depth of the Qualys Enterprise TruRisk Platform as they look to rearchitect and transform their security stacks,\" said Sumedh Thakar, Qualys' president and CEO. \"Our results this quarter demonstrate the rapid pace of innovation at Qualys and reflect the growing success of newer product initiatives, including Cybersecurity Asset Management, Patch Management, and TotalCloud. With our natively integrated platform and frictionless approach to quantifying, prioritizing, articulating, and remediating cyber risk, we believe we'll continue to perform well against our competitors, extend our leadership, and provide a runway for long-term sustainable growth.\" \nFourth Quarter 2024 Financial Highlights\nRevenues: Revenues for the fourth quarter of 2024 increased by 10% to $159.2 million compared to $144.6 million for the same quarter in 2023.\nGross Profit: GAAP gross profit for the fourth quarter of 2024 increased by 11% to $130.2 million compared to $117.4 million for the same quarter in 2023. GAAP gross margin was 82% for the fourth quarter of 2024 compared to 81% for the same quarter in 2023. Non-GAAP gross profit for the fourth quarter of 2024 increased by 11% to $133.0 million compared to $120.2 million for the same quarter in 2023. Non-GAAP gross margin was 84% for the fourth quarter of 2024 compared to 83% for the same quarter in 2023.\nOperating Income: GAAP operating income for the fourth quarter of 2024 increased by 19% to $49.4 million compared to $41.5 million for the same quarter in 2023. As a percentage of revenues, GAAP operating i...