Business
Qualys Announces Second Quarter 2020 Financial Results
Revenue Growth of 13% Year-Over-Year GAAP EPS: $0.64; Non-GAAP EPS: $0.74 Raises 2020 Revenue Guidance to $359-$360.5 million Raises 2020 GAAP EPS Guidance to
About this update from Qualys, Inc.
[{"type":"text","content":"Revenue Growth of 13% Year-Over-Year\n GAAP EPS: $0.64; Non-GAAP EPS: $0.74\n Raises 2020 Revenue Guidance to $359-$360.5 million\n Raises 2020 GAAP EPS Guidance to $1.78-$1.83\n Raises 2020 Non-GAAP EPS Guidance to $2.60-$2.65\n\n\nFOSTER CITY, Calif., Aug. 10, 2020 /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 second quarter ended June 30, 2020. For the quarter, the Company reported revenues of $88.8 million, net income under United States Generally Accepted Accounting Principles (\"U.S. GAAP\") of $26.3 million, non-GAAP net income of $30.3 million, Adjusted EBITDA of $42.8 million, GAAP net income per diluted share of $0.64, and non-GAAP net income per diluted share of $0.74. \n\"The unprecedented shift towards remote working caused by the COVID-19 pandemic has created significant new IT and cybersecurity challenges. With most employees working from home, there has been not only an explosion of remote endpoints accessing organizations' critical assets and data, but also an increase in cyberattacks that are targeting these remote endpoints to exploit vulnerabilities. Qualys is uniquely positioned with its robust scalable cloud platform to enable organizations to both continuously monitor and quickly patch vulnerabilities. We have seen a strong uptake of our free Remote Endpoint Protection offering, with over 650 companies, including nearly 300 customer prospects, actively using the service, and we added additional malware detection capabilities to it this quarter. In addition, we have also seen a strong customer response to our Vulnerability Management, Detection and Response (VMDR®) application, with over 600 customers using VMDR, of which approximately 200 are new to our cloud platform. VMDR is helping make our Cloud Agents ubiquitous and, in turn, driving our multi-product adoption higher,\" said Philippe Courtot, chairman and CEO of Qualys. \"The recent introduction of our Multi-Vector EDR solution and our upcoming Data Lake / SIEM offering presents a significant extension of our cloud platform that will help our customers to further consolidate their IT, security and compliance stack during these challenging times.\"\nSecond Quarter 2020 Financial Highlights \nRevenues: Revenues for the...