Business
Qualys Announces Second Quarter 2019 Financial Results
FOSTER CITY, Calif., July 31, 2019 /PRNewswire/ -- Qualys, Inc. (NASDAQ: QLYS), a pioneer and leading provider of cloud-based security and compliance
About this update from Qualys, Inc.
[{"type":"text","content":"FOSTER CITY, Calif., July 31, 2019 /PRNewswire/ -- Qualys, Inc. (NASDAQ: QLYS), a pioneer and leading provider of cloud-based security and compliance solutions, today announced financial results for the second quarter ended June 30, 2019. For the quarter, the Company reported revenues of $78.9 million, net income under United States Generally Accepted Accounting Principles (\"GAAP\") of $16.2 million, non-GAAP net income of $22.9 million, adjusted EBITDA of $33.4 million, GAAP earnings per diluted share of $0.39, and non-GAAP earnings per diluted share of $0.55. \n\"With almost 24 million Qualys Cloud Agent subscriptions at the end of Q2, we are clearly solving a critical problem in security by providing a technology platform that enables organizations to consolidate the plethora of point solutions. Our innovative cloud agent technology has been recognized by the issuance of four patents, which were filed in 2008,\" said Philippe Courtot, chairman and CEO of Qualys. \"With the launch of our groundbreaking Global IT Asset Discovery and Inventory solution as a free service, we hope to accelerate cloud agent deployment across environments, resulting in increased multi-product adoption by our customers, creating a significant barrier to competitive point solutions.\"\nQualys Announces a New Prescription for Security – https://investor.qualys.com/node/13046/pdf Qualys Awarded Four Patents for the Qualys Cloud Agent – https://investor.qualys.com/node/13056/pdf\nSecond Quarter 2019 Financial Highlights\nRevenues: Revenues for the second quarter of 2019 increased by 16% to $78.9 million compared to $68.2 million for the same quarter in 2018. \nGross Profit: GAAP gross profit for the second quarter of 2019 increased by 18% to $61.4 million compared to $51.9 million for the same quarter in 2018. GAAP gross margin percentage was 78% for the second quarter of 2019 compared to 76% for the same quarter in 2018. Non-GAAP gross profit for the second quarter of 2019 increased by 19% to $63.4 million compared to $53.4 million for the same quarter in 2018. Non-GAAP gross margin percentage was 80% for the second quarter of 2019 compared to 78% for the same quarter in 2018. \nOperating Income: GAAP operating income for the second quarter of 2019 increased by 48% to $16.1 million compared to $10.9 million for the same quarter in 2018. As a percentage...