Qualys, Inc. Files Q3 2024 10-Q Report

TL;DR

Qualys Q3 10-Q is in! Check financials for cybersecurity performance.

AI Summary

Qualys, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the company, which provides cloud-based security and compliance solutions. Specific financial figures and operational metrics for the third quarter and year-to-date periods are presented.

Why It Matters

This filing provides investors and analysts with the latest financial and operational data for Qualys, Inc., crucial for understanding the company's performance in the cybersecurity market.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing financial and operational updates.

Key Players & Entities

• QUALYS, INC. (company) — Filer
• 20240930 (date) — Reporting period end date
• 20241105 (date) — Filing date
• 919 E. HILLSDALE BLVD. (location) — Company business address
• FOSTER CITY, CA (location) — Company business city and state

FAQ

Key Financial Figures

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

Filing Documents

• qlys-20240930.htm (10-Q) — 1658KB
• qlys-20240930xex311.htm (EX-31.1) — 12KB
• qlys-20240930xex312.htm (EX-31.2) — 12KB
• qlys-20240930xex321.htm (EX-32.1) — 6KB
• qlys-20240930xex322.htm (EX-32.2) — 6KB
• 0001107843-24-000038.txt ( ) — 8301KB
• qlys-20240930.xsd (EX-101.SCH) — 42KB
• qlys-20240930_cal.xml (EX-101.CAL) — 85KB
• qlys-20240930_def.xml (EX-101.DEF) — 190KB
• qlys-20240930_lab.xml (EX-101.LAB) — 639KB
• qlys-20240930_pre.xml (EX-101.PRE) — 435KB
• qlys-20240930_htm.xml (XML) — 1434KB

– 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) September 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 235,430 $ 203,665 Restricted cash — 1,500 Short-term marketable securities 150,913 221,893 Accounts receivable, net of allowance of $ 1,154 and $ 778 as of September 30, 2024 and December 31, 2023, respectively 114,967 146,226 Prepaid expenses and other current assets 35,307 26,714 Total current assets 536,617 599,998 Long-term marketable securities 186,680 56,644 Property and equipment, net 27,343 32,599 Operating leases - right of use asset 41,294 22,391 Deferred tax assets, net 77,730 62,761 Intangible assets, net 7,451 9,715 Goodwill 7,447 7,447 Noncurrent restricted cash 1,200 1,200 Other noncurrent assets 22,561 19,863 Total assets $ 908,323 $ 812,618 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 1,422 $ 988 Accrued liabilities 39,960 43,096 Deferred revenues, current 337,821 333,267 Operating lease liabilities, current 9,333 11,857 Total current liabilities 388,536 389,208 Deferred revenues, noncurrent 23,116 31,671 Operating lease liabilities, noncurrent 38,266 16,885 Other noncurrent liabilities 8,810 6,680 Total liabilities 458,728 444,444 Commitments and contingencies (Note 8) Stockholders' equity: Preferred stock: $ 0.001 par value; 20,000 shares authorized, no shares issued and outstanding as of September 30, 2024 and December 31, 2023 — — Common stock: $ 0.001 par value; 1,000,000 shares authorized, 36,640 and 36,909 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 37 37 Additional paid-in capital 642,435 597,921 Accumulated other comprehensive loss ( 293 ) ( 1,704 ) Accumulated deficit ( 192,584 ) ( 228,080 ) Total stockholders' equity 449,595 368,174 Total liabilities and stockholders' equity $ 908,323 $ 812,618 The

View Full Filing

View this 10-Q filing on SEC EDGAR