Business
Qualys Announces Third Quarter 2021 Financial Results
Revenue Growth of 13% Year-Over-Year GAAP EPS: $0.70; Non-GAAP EPS: $0.86 Raises 2021 Revenue Guidance to $409.5-$410.1 million Announces $200 Million
About this update from Qualys, Inc.
[{"type":"text","content":"Revenue Growth of 13% Year-Over-Year\n GAAP EPS: $0.70; Non-GAAP EPS: $0.86\n Raises 2021 Revenue Guidance to $409.5-$410.1 million\n Announces $200 Million Increase to Share Repurchase Program\n\n\nFOSTER CITY, Calif., Nov. 3, 2021 /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 third quarter ended September 30, 2021. For the quarter, the Company reported revenues of $104.9 million, net income under United States Generally Accepted Accounting Principles (\"U.S. GAAP\") of $27.8 million, non-GAAP net income of $34.2 million, Adjusted EBITDA of $50.3 million, GAAP net income per diluted share of $0.70, and non-GAAP net income per diluted share of $0.86.\n\"Building on our momentum, we delivered another solid quarter of financial performance reflecting progress advancing our go-to-market initiatives and continued platform innovation,\" said Sumedh Thakar, president and CEO of Qualys. \"With the Qualys Cloud Platform as a foundation for securing our customers' digital transformations, we experienced strong interest and adoption of our Vulnerability Management, Detection and Response (VMDR®) application in the quarter with paid Cloud Agent subscriptions growing 40% year-over-year to 70 million deployed. I am also pleased to announce our Board has authorized a $200 million increase to our share repurchase program, which allows us to mitigate our share dilution and drive shareholder value.\"\nThird Quarter 2021 Financial Highlights \nRevenues: Revenues for the third quarter of 2021 increased by 13% to $104.9 million compared to $93.1 million for the same quarter in 2020. \nGross Profit: GAAP gross profit for the third quarter of 2021 increased by 14% to $82.5 million compared to $72.5 million for the same quarter in 2020. GAAP gross margin was 79% for the third quarter of 2021 compared to 78% for the same quarter in 2020. Non-GAAP gross profit for the third quarter of 2021 increased by 14% to $85.1 million compared to $74.8 million for the same quarter in 2020. Non-GAAP gross margin was 81% for the third quarter of 2021 compared to 80% for the third quarter of 2020. \nOperating Income: GAAP operating income for the third quarter of 2021 increased by 22% to $32.0 million compared to $26.3 million for th...