Qualys, Inc. Files 10-Q for Period Ending March 31, 2024

AI Summary

QUALYS, INC. (QLYS) filed a Quarterly Report (10-Q) with the SEC on May 7, 2024. Qualys, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of the fiscal year. The company's principal executive offices are located at 919 E. Hillsdale Blvd., Foster City, CA 94404. Qualys, Inc. is incorporated in Delaware. The filing includes financial data for the periods ending March 31, 2024, December 31, 2023, and March 31, 2023.

Why It Matters

For investors and stakeholders tracking QUALYS, INC., this filing contains several important signals. This 10-Q filing provides investors with an updated view of Qualys's financial health and operational performance for the first three months of 2024. The detailed financial statements and disclosures within this report are crucial for understanding the company's current financial position and future outlook.

Risk Assessment

Risk Level: low — QUALYS, INC. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not indicate any unusual or significant negative events.

Analyst Insight

Review the detailed financial statements and segment information in the 10-Q to assess Qualys's revenue growth, profitability, and cash flow trends for Q1 2024.

Key Numbers

• 2024-03-31 — Period of Report (Conformed period of report)
• 2024-05-07 — Filed As Of Date (Filed as of date)
• 2024-01-01 — Quarter Start Date (Reporting period start date)
• 2023-03-31 — Prior Year Q1 End Date (Prior year comparative period)

Key Players & Entities

• QUALYS, INC. (company) — Filer name
• QLYS (company) — Ticker symbol
• 2024-03-31 (date) — Period of report
• 2024-05-07 (date) — Filing date
• 919 E. HILLSDALE BLVD. (address) — Business address street
• FOSTER CITY (address) — Business address city
• CA (address) — Business address state
• 94404 (address) — Business address zip

FAQ

Industry Context

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

Regulatory Implications

The filing is a standard 10-Q, which is a mandatory quarterly report for publicly traded companies in the United States, regulated by the Securities and Exchange Commission (SEC).

What Investors Should Do

1. Analyze the balance sheet and income statement for Q1 2024.
2. Review any disclosures related to legal proceedings or risk factors.
3. Compare key financial metrics to the previous quarter and the same quarter last year.

Key Dates

• 2024-03-31: Quarter End Date — End of the reporting period for the 10-Q filing.
• 2024-05-07: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the first 10-Q filing for the fiscal year 2024, providing an update from the previous 10-K annual report and the Q4 2023 10-Q filing.

Key Financial Figures

• $0.001 — ange on which registered Common stock, $0.001 par value per share QLYS The NASDAQ Sto

Filing Documents

• qlys-20240331.htm (10-Q) — 1345KB
• qlys-20240331xex311.htm (EX-31.1) — 12KB
• qlys-20240331xex312.htm (EX-31.2) — 12KB
• qlys-20240331xex321.htm (EX-32.1) — 6KB
• qlys-20240331xex322.htm (EX-32.2) — 6KB
• 0001107843-24-000016.txt ( ) — 7414KB
• qlys-20240331.xsd (EX-101.SCH) — 44KB
• qlys-20240331_cal.xml (EX-101.CAL) — 89KB
• qlys-20240331_def.xml (EX-101.DEF) — 189KB
• qlys-20240331_lab.xml (EX-101.LAB) — 629KB
• qlys-20240331_pre.xml (EX-101.PRE) — 429KB
• qlys-20240331_htm.xml (XML) — 1199KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements Condensed Consolidated Balance Sheets 4 Condensed Consolidated Statements of Operations 5 Condensed Consolidated Statements of Comprehensive Income 6 Condensed Consolidated Statements of Cash Flows 7 Condensed Consolidated Statements of Stockholders' Equity 8 Notes to Condensed Consolidated Financial Statements 9 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 27 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 37 Item 4.

Controls and Procedures

Controls and Procedures 37

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 38 Item 1A.

Risk Factors

Risk Factors 38 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 60 Item 3. Defaults upon Senior Securities 61 Item 4. Mine Safety Disclosures 61 Item 5. Other Information 61 Item 6. Exhibits 62

Signatures

Signatures 63 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 Quarterly Report on Form 10-Q. If any of the following risks actually occurs (or if any of those listed elsewhere in this Quarterly Report on Form 10-Q 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, c

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Qualys, Inc. CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (in thousands, except per share data) March 31, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 273,783 $ 203,665 Restricted cash — 1,500 Short-term marketable securities 179,887 221,893 Accounts receivable, net of allowance of $ 1,099 and $ 778 as of March 31, 2024 and December 31, 2023, respectively 115,629 146,226 Prepaid expenses and other current assets 36,112 26,714 Total current assets 605,411 599,998 Long-term marketable securities 89,693 56,644 Property and equipment, net 30,191 32,599 Operating leases - right of use asset 31,371 22,391 Deferred tax assets, net 66,565 62,761 Intangible assets, net 8,943 9,715 Goodwill 7,447 7,447 Noncurrent restricted cash 1,200 1,200 Other noncurrent assets 20,961 19,863 Total assets $ 861,782 $ 812,618 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 645 $ 988 Accrued liabilities 48,246 43,096 Deferred revenues, current 332,128 333,267 Operating lease liabilities, current 10,046 11,857 Total current liabilities 391,065 389,208 Deferred revenues, noncurrent 31,311 31,671 Operating lease liabilities, noncurrent 27,784 16,885 Other noncurrent liabilities 7,420 6,680 Total liabilities 457,580 444,444 Commitments and contingencies (Note 8) Stockholders' equity: Preferred stock: $ 0.001 par value; 20,000 shares authorized, no shares issued and outstanding as of March 31, 2024 and December 31, 2023 — — Common stock: $ 0.001 par value; 1,000,000 shares authorized, 36,962 and 36,909 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively 37 37 Additional paid-in capital 610,923 597,921 Accumulated other comprehensive loss ( 1,007 ) ( 1,704 ) Accumulated deficit ( 205,751 ) ( 228,080 ) Total stockholders' equity 404,202 368,174 Total liabilities and stockholders' equity $ 861,782 $ 812,618 The accompanying not

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View this 10-Q filing on SEC EDGAR