Slide 1: Investor Presentation
Investor Presentation Security and Compliance for the Digital Transformation Sumedh Thakar, President and CEO Joo Mi Kim, CFO August 5, 2025
Slide 2: Safe harbor
Safe harbor This presentation includes forward-looking statements within the meaning of the federal securities laws. Forward-looking statements generally relate to future events or our future financial or operating performance. Forward-looking statements in this presentation include, but are not lim
Slide 3: Investment highlights
Investment highlights Industry-leading cloud security and compliance platform for comprehensive risk management Multiple levers of recurring revenue growth Scalable business model and industry- leading profitability Uniquely positioned to capitalize on stack consolidation and cloud transformation 3
Slide 4: Legacy Qualys Cloud Platform
Legacy Qualys Cloud Platform Transforming from focus on providing visibility, vulnerability management, and data analytics to… EC LOUD A Qualys Cloud Platform L GE SING NT Asset Vulnerability Threat Response Sensors Management Management Detection & Remediation Compliance Qualys Threat Research & In
Slide 5: Introducing Qualys Enterprise TruRisk Platform
Introducing Qualys Enterprise TruRisk Platform … leveraging risk analytics to deliver desired business outcomes 5
Slide 6: Qualys Enterprise TruRisk Platform: Asset Management
Asset Management Asset Management Vulnerability Remediation Threat Detection TotalCloud Qualys Enterprise TruRisk Platform CyberSecurity Asset Management Discover All Assets Get inside-out and outside-in visibility of all assets with an attackers view of the network Get Complete Asset Context & Visi
Slide 7: Qualys Enterprise TruRisk Platform: Vulnerability Management
Asset Management Vulnerability Vulnerability Remediation Threat Detection TotalCloud Qualys Enterprise TruRisk Platform VMDR Measure Cyber Risk Quantify risk across vulnerabilities, assets, and groups of assets helping organizations proactively reduce risk exposure and track risk reduction over time
Slide 8: Qualys Enterprise TruRisk Platform: Remediation
Asset Management Vulnerability Remediation Remediation Threat Detection TotalCloud Qualys Enterprise TruRisk Platform Comprehensive Risk Reduction Eliminate Cyber Risk Deploy the right remediation, mitigations or isolation strategies to balance risk reduction with business impact Save time and reduc
Slide 9: Qualys Enterprise TruRisk Platform: Threat Detection
Asset Management Vulnerability Remediation Threat Threat Detection Detection TotalCloud Qualys Enterprise TruRisk Platform Threat Detection and Response Protect Against Zero-day threats Leverage behavior & AI/ML-based antivirus to thwart exploits, ransomware, phishing attacks, and zero-days Unify VM
Slide 10: Qualys Enterprise TruRisk Platform: TotalCloud
Asset Management Vulnerability Remediation Threat Detection TotalCloud Qualys Enterprise TruRisk Platform TotalCloud (CNAPP) Unified Multi-Cloud Security Unified vulnerability, threat and posture management from development through runtime in cloud and container environments Extended TruRisk Insight
Slide 11: Qualys Enterprise TruRisk Platform: Enterprise TruRisk Management
Asset Management Vulnerability Remediation Threat Detection TotalCloud Qualys Enterprise TruRisk Platform Enterprise TruRisk Management Centralized Risk Aggregation Visualize the entire attack surface with unified asset inventory, integrate data from Qualys and third-party sources, consolidate risk
Slide 12: Qualys Enterprise TruRisk Platform Advantages
Qualys Enterprise TruRisk Platform Advantages One view across the entire global hybrid-IT environment, allowing customers to consolidate their stack for better security outcomes Available as a Public or No hardware to Lower Easy to deploy buy or manage operating costs and maintain on-premises Privat
Slide 13: Large expanding market opportunity
Large expanding market opportunity 1.42x Expand $79B $55B $21.3B $14.5B $22.7B $16.8B $9.8B $5.5B $8.8B $7.0B $5.5B $4.2B $7.3B $10.7B CY2025E CY2028E VM & Assessment Compliance IT Asset Management Cloud Security Endpoint Security Security Analytics & Orchestration Source: IDC, Qualys estimates Qual
Slide 14: Blue chip global customer base
Blue chip global customer base Forbes 72% of the Global 50 10,000+ Forbes Subscription customers 55% of the Global 500 Forbes 33% of the Global 2000 Note: A customer is defined as any customer with subscription revenue at the measurement date 14
Slide 15: Scalable go-to-market model
Scalable go-to-market model Market segmentation & key strategic partners ENTERPRISE MID-MARKET 2024 REVENUES Large enterprise Small / medium business (Over 5,000 employees) (Up to 5,000 employees) 54% New Existing New Existing Direct customers customers customers customers CHANNEL 46% Indirect 15
Slide 16: Attractive value proposition for partners
Attractive value proposition for partners High-margin recurring revenue with no capex / maintenance costs Cloud Provider Outsourcing Value Added MSSPs Partners Providers Resellers Consultants 16
Slide 17: Balanced revenue growth and profitability
Balanced revenue growth and profitability ($ in millions) Revenues Adjusted EBITDA 11% CAGR $608 14% $554 CAGR $490 $283 $259 $219 $324 $295 $139 $148 2022 2023 2024 Q2 2024 Q2 2025 2022 2023 2024 Q2 2024 Q2 2025 YTD YTD YTD YTD Y/Y Adj growth 19% 13% 10% 10% 10% EBITDA % 45% 47% 47% 47% 46% Revenue
Slide 18: Platform adoption driving higher customer spend
Platform adoption driving ($ in millions) higher customer spend 8% Growth $268 $247 Revenues Aggregate $209 $166 LTM LTM LTM LTM Q2 2022 Q2 2023 Q2 2024 Q2 2025 Number of 139 168 199 212 customers Note: Customer count is defined as customers with $500K or more in annual revenue 18
Slide 19: Strong cash flow generation
Strong cash flow generation Returning capital to shareholders ($ in millions) Free Cash Flow (FCF) Share repurchase amount 12% $317 CAGR $236 $232 $183 $171 $132 $140 $140 $89 $53 2022 2023 2024 Q2 2024 Q2 2025 2022 2023 2024 Q2 2024 Q2 2025 YTD YTD YTD YTD FCF Diluted Margin % 37% 43% 38% 45% 43% 3
Slide 20: Achieving strong margin performance
Achieving strong margin performance 2024 Adjusted EBITDA margin vs. Security select Security and SaaS peers SaaS QLYS 47% Peer Median: 25% Source: FactSet Note: Adjusted EBITDA is a non-GAAP measure. See the appendix for a reconciliation of non-GAAP financial measures to the most directly comparable
Slide 21: Achieving rule of 50+: growth + profitability
Achieving rule of 50+: growth + profitability 2024 Rule of 40 vs. Security select Security and SaaS peers SaaS QLYS 57% Rule of 40 Source: FactSet Note: 2024 Revenue Growth % + Adj EBITDA Margin % 21
Slide 22: Appendix
Appendix
Slide 23: Reconciliation of Adjusted EBITDA
Reconciliation of Adjusted EBITDA ($ in millions) Q2 2024 Q2 2025 2021 2022 2023 2024 YTD YTD Net income $71.0 $108.0 $151.6 $173.7 $83.5 $94.8 Depreciation and amortization of property 29.2 28.9 23.9 15.6 8.5 6.9 and equipment Amortization of intangible assets 6.7 5.7 3.1 2.9 1.5 1.3 Income tax pro
Slide 24: Reconciliation of Non-GAAP Free Cash Flows
Reconciliation of Non-GAAP Free Cash Flows ($ in millions) Q2 2024 Q2 2025 2021 2022 2023 2024 YTD YTD GAAP Cash flows provided by operating activities $200.6 $198.9 $244.6 $244.1 $135.3 $143.4 Less: Purchases of property and equipment, net (24.4) (15.4) (8.8) (12.3) (3.1) (3.4) of proceeds from dis
Slide 25: Revenue mix
Revenue mix Geographic Direct vs. Partner 40% 40% 42% 41% 43% 42% 43% 46% 46% 49% 60% 60% 58% 59% 57% 58% 57% 54% 54% 51% 2022 2023 2024 Q2 2024 Q2 2025 2022 2023 2024 Q2 2024 Q2 2025 YTD YTD YTD YTD US Foreign Direct Partner 25