Qualys, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Qualys, Inc. has filed its 2023 10-K report detailing financial performance and operational data.</b>

AI Summary

QUALYS, INC. (QLYS) filed a Annual Report (10-K) with the SEC on February 22, 2024. Qualys, Inc. filed its 2023 Form 10-K on February 22, 2024, reporting on the fiscal year ending December 31, 2023. The filing covers financial data and business operations for Qualys, Inc., a company in the pre-packaged software services industry. Key financial statement components such as common stock, additional paid-in capital, accumulated other comprehensive income, and retained earnings are detailed for multiple fiscal years. Information regarding cash held in escrow related to the Blue Hexagon acquisition and security deposits for letters of credit are provided as of December 31, 2023 and 2022. The report includes details on scanner appliances and software development costs as of December 31, 2023.

Why It Matters

For investors and stakeholders tracking QUALYS, INC., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Qualys' financial health and operational status for the fiscal year 2023, crucial for investors and stakeholders to assess performance and future outlook. The detailed financial statements and disclosures within the report offer insights into the company's asset structure, equity, and specific financial instruments, enabling a thorough evaluation of its financial position.

Risk Assessment

Risk Level: — QUALYS, INC. shows moderate risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate, significant negative news, indicating a routine disclosure process.

Analyst Insight

Review the detailed financial statements and risk factors in the 10-K to understand Qualys' financial performance and potential challenges for the upcoming fiscal year.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-02-22 — Filing Date (Date of submission)

Key Players & Entities

• QUALYS, INC. (company) — Filer name
• 2023-12-31 (date) — Fiscal year end
• 2024-02-22 (date) — Filing date
• Blue Hexagon (company) — Acquisition context

FAQ

Industry Context

Qualys operates in the cybersecurity and IT asset management sector, providing cloud-based solutions for vulnerability management, compliance, and security.

Regulatory Implications

As a publicly traded company, Qualys is subject to SEC regulations, including the requirement to file annual reports (Form 10-K) detailing its financial and operational status.

What Investors Should Do

1. Analyze the financial statements within the 10-K for revenue trends, profitability, and balance sheet health.
2. Review the risk factors section to identify potential challenges and management's mitigation strategies.
3. Compare key financial metrics from this 10-K with previous filings to assess year-over-year performance.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-02-22: Filing Date — Date the 10-K was officially submitted to the SEC.

Year-Over-Year Comparison

This filing is the annual 10-K report for the fiscal year ending December 31, 2023, providing a comprehensive update compared to previous quarterly or annual filings.

Key Financial Figures

• $0.001 — ange on which registered Common stock, $0.001 par value per share QLYS NASDAQ Stock M
• $554.5 million — s Global 100. Our revenues increased to $554.5 million in 2023 from $489.7 million in 2022 and
• $489.7 million — ncreased to $554.5 million in 2023 from $489.7 million in 2022 and $411.2 million in 2021. Ou
• $411.2 million — in 2023 from $489.7 million in 2022 and $411.2 million in 2021. Our Platform Our cloud platf

Filing Documents

• qlys-20231231.htm (10-K) — 1949KB
• qlys-20231231xex1010.htm (EX-10.10) — 16KB
• qlys-20231231xex211.htm (EX-21.1) — 12KB
• qlys-20231231xex231.htm (EX-23.1) — 2KB
• qlys-20231231xex311.htm (EX-31.1) — 11KB
• qlys-20231231xex312.htm (EX-31.2) — 11KB
• qlys-20231231xex321.htm (EX-32.1) — 6KB
• qlys-20231231xex322.htm (EX-32.2) — 6KB
• qlys-20231231xex971.htm (EX-97.1) — 36KB
• qlys-20231231_g1.jpg (GRAPHIC) — 275KB
• qlys-20231231_g2.jpg (GRAPHIC) — 113KB
• qualyslogo.jpg (GRAPHIC) — 12KB
• 0001107843-24-000008.txt (&nbsp;) — 11600KB
• qlys-20231231.xsd (EX-101.SCH) — 58KB
• qlys-20231231_cal.xml (EX-101.CAL) — 120KB
• qlys-20231231_def.xml (EX-101.DEF) — 273KB
• qlys-20231231_lab.xml (EX-101.LAB) — 907KB
• qlys-20231231_pre.xml (EX-101.PRE) — 590KB
• qlys-20231231_htm.xml (XML) — 1751KB

Business

Business 6 Item 1A.

Risk Factors

Risk Factors 15 Item 1B. Unresolved Staff Comments 37 Item 1C. Cybersecurity 37 Item 2.

Properties

Properties 39 Item 3.

Legal Proceedings

Legal Proceedings 39 Item 4. Mine Safety Disclosures 39 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 40 Item 6. [Reserved] 42 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 43 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 51 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 53 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 90 Item 9A.

Controls and Procedures

Controls and Procedures 90 Item 9B. Other Information 91 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 91 PART III Item 10. Directors, Executive Officers and Corporate Governance 92 Item 11.

Executive Compensation

Executive Compensation 92 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 92 Item 13. Certain Relationships and Related Transactions, and Director Independence 93 Item 14. Principal Accountant Fees and Services 93 PART IV Item 15. Exhibits and Financial Statement Schedules 94 Item 16. F orm 10-K S ummary 96

Signatures

Signatures 97 2 Table of Contents RISK FACTOR SUMMARY Our business is subject to significant risks and uncertainties that make an investment in us speculative and risky. Below we summarize what we believe are the principal risk factors but these risks are not the only ones we face, and you should carefully review and consider the full discussion of our risk factors in the section titled "Risk Factors," together with the other information in this Annual Report on Form 10-K. If any of the following risks actually occurs (or if any of those listed elsewhere in this Annual Report on Form 10-K occur), our business, reputation, financial condition, results of operations, revenue, and future prospects could be seriously harmed. Additional risks and uncertainties that we are unaware of, or that we currently believe are not material, may also become important factors that adversely affect our business. Our quarterly and annual operating results may vary from period to period, which could result in our failure to meet expectations with respect to operating results and cause the trading price of our stock to decline. If we do not successfully anticipate market needs and opportunities or are unable to enhance our solutions and develop new solutions that meet those needs and opportunities on a timely or cost-effective basis, we may not be able to compete effectively and our business and financial condition may be harmed. If we fail to continue to effectively scale and adapt our platform to meet the performance and other requirements of our customers, our operating results and our business would be harmed. If we are unable to renew existing subscriptions for our IT, security and compliance solutions, sell additional subscriptions for our solutions and attract new customers, our operating results would be harmed. Our current research and development efforts may not produce successful products or enhancements to our platform that result in significant revenue, cost sa

Business

Item 1. Business Overview We are a pioneer and leading provider of a cloud-based platform delivering information technology (IT), security and compliance solutions. Our integrated suite of IT, security and compliance solutions delivered on Qualys' Enterprise TruRisk Platform enables our customers to: 1) identify and manage their internal and external IT and operational technology (OT) assets across on-premises, endpoints, cloud, containers, and mobile environments; 2) collect and analyze large amounts of IT security data; 3) discover and prioritize vulnerabilities; 4) quantify cyber risk exposure; 5) recommend and implement remediation actions; and 6) verify the implementation of such actions. This helps organizations protect their systems and applications from ever-evolving cyber-attacks and helps achieve compliance with internal policies and external regulations. Our cloud platform addresses the growing IT, security and compliance complexities and risks that are amplified by the dissolving boundaries between IT infrastructures and web environments, the rapid adoption of cloud computing, containers and serverless IT models, and the proliferation of geographically dispersed IT assets. Organizations use our integrated suite of solutions to cost-effectively obtain a unified view of their internal and external IT and OT asset inventory as well as security and compliance posture across globally-distributed IT infrastructures as our solution offers a single platform for information technology, information security, application security, endpoint, developer security and cloud teams. IT infrastructures are more complex and globally-distributed today than ever before, as organizations of all sizes increasingly rely upon a myriad of interconnected information systems and related assets, such as servers, databases, web applications, routers, switches, desktops, laptops, other physical and virtual infrastructure, and numerous external networks and cloud services. In this e

View Full Filing

View this 10-K filing on SEC EDGAR