NASDAQ$QLYS

Qualys Inc. · Q2 2024 earnings

Q2 2024 earnings · · Investor relations

Briefing

Qualys' Q2 2024 financial results were announced, featuring revenue growth and increased GAAP and non-GAAP EPS.

Qualys reported an 8% year-over-year revenue increase for Q2 2024, reaching $148.7 million. GAAP EPS was $1.17, and non-GAAP EPS was $1.52. The company highlighted its commitment to innovation and customer success through its Enterprise TruRisk Platform.

  • Revenues increased by 8% year-over-year to $148.7 million.
  • GAAP EPS reached $1.17, while non-GAAP EPS was $1.52.
  • GAAP operating income increased by 12% to $48.1 million.
  • The company launched a new global MSSP portal and delivered enhanced cybersecurity asset management capabilities.

Headline financials

Total Revenue

$149M

Previous: $137M+8.4%
EPS

$1.17

Previous: $1.27-7.9%
GAAP Gross Margin

82.0%

No prior period
Non-GAAP Gross Margin

84.0%

No prior period
GAAP Operating Income Percentage

32.0%

No prior period
Non-GAAP Operating Income Percentage

44.0%

No prior period
GAAP Net Income Percentage

29.0%

No prior period
Non-GAAP Net Income Percentage

38.0%

No prior period
Adjusted EBITDA

$69.9M

No prior period
Adjusted EBITDA Percentage

47.0%

No prior period
Operating Cash Flow Percentage

34.0%

No prior period
Calculated Current Billings

$141M

Previous: $143M-1.6%
Calculated Current Billings Growth

-2.0%

No prior period
Capital Expenditures

-$3.08M

Previous: -$5.46M+43.6%
Free Cash Flow

$40.7M

Previous: $29.9M+36.0%
Net Income

$43.8M

Previous: $35.4M+23.7%
Operating Income

$48.1M

Previous: $42.8M+12.2%
Gross Profit

$122M

Previous: $111M+10.6%
R&D Expense

$27.1M

No prior period
Stock-Based Comp

$17.1M

Previous: $16M+6.8%

Revenue & EPS history

Qualys · Revenue · Quarterly

$149M

Q2 2024+8.4%vs Q2 2023
Beat estimate in 12 of 15 quarters(80%)
ActualEstimate

Forward guidance

Qualys provided financial guidance for Q3 2024 and updated its full-year fiscal 2024 outlook. Q3 revenue is expected to be between $149.8 million and $151.8 million, while full-year revenue is projected to be between $597.5 million and $601.5 million.

Tailwinds

  • Q3 2024 revenue is expected to grow by 5% to 7% compared to Q3 2023.
  • Q3 2024 GAAP net income per diluted share is expected to be in the range of $0.85 to $0.93.
  • Q3 2024 non-GAAP net income per diluted share is expected to be in the range of $1.28 to $1.36.
  • Full year 2024 GAAP net income per diluted share is expected to be in the range of $3.85 to $4.01.
  • Full year 2024 non-GAAP net income per diluted share is expected to be in the range of $5.46 to $5.62.

Headwinds

  • Full year 2024 revenue guidance was revised downward to a range of $597.5 million to $601.5 million, compared to the previous range of $601.5 million to $608.5 million.
  • Guidance is subject to cautionary factors related to forward-looking statements.
  • Reconciling items between GAAP and non-GAAP net income are not provided, and their impact could be significant.
  • The company's non-GAAP effective tax rate may differ from the GAAP effective income tax rate.
  • Unexpected fluctuations in the effective income tax rate on a GAAP and non-GAAP basis could impact results.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q2 2024

Historical avgQ2 2024

+0.5%

Avg return

Earnings day

+0.6%

Avg return

5 days after

+2.3%

Avg return

30 days after

56%

33 / 59 earnings

Positive

+27.8%

Q3 2024

Best reaction

-29.0%

Q1 2015

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-3.7%-0.7%+19.3%
Q4 2025-13.3%-13.7%-22.8%
Q3 2025+20.7%+25.4%+20.5%
Q1 2025+0.7%+7.6%+11.9%
Q4 2024-3.7%-1.9%-9.5%
Q3 2024+27.8%+23.6%+25.8%
Q2 2024-5.8%-5.3%-7.0%
Q1 2024-12.0%-11.7%-20.6%
Q4 2023-4.0%-2.9%-4.6%
Q3 2023+11.9%+13.3%+23.7%
Q2 2023+6.2%+6.2%+15.3%
Q1 2023+8.3%+6.2%+20.8%
Q4 2022-1.2%-3.2%-4.2%
Q3 2022-19.6%-20.9%-12.8%
Q2 2022+11.7%+17.0%+17.8%
Q1 2022-3.0%-15.8%-1.9%
Q4 2021-15.4%-10.1%-6.5%
Q3 2021+9.7%+11.7%+2.1%
Q2 2021+7.5%+8.0%+14.8%
Q1 2021+3.5%+6.2%+5.4%
Q4 2020-19.0%-20.2%-22.5%
Q3 2020+3.8%+1.0%+1.3%
Q2 2020-13.0%-14.5%-14.0%
Q1 2020-1.0%-0.6%+3.0%
Q4 2019+0.5%+3.2%-20.4%
Q3 2019+3.3%+2.6%+5.9%
Q2 2019-5.4%-9.2%-10.7%
Q1 2019+1.7%-0.6%-1.8%
Q4 2018-13.1%-14.8%-10.5%
Q3 2018-2.6%+2.4%+5.6%
Q2 2018-3.7%-3.6%+0.8%
Q1 2018-2.5%-3.4%+0.0%
Q4 2017+12.4%+20.6%+28.7%
Q3 2017+6.9%+10.0%+12.9%
Q2 2017+10.7%+11.8%+15.2%
Q1 2017+5.4%+5.4%+10.2%
Q4 2016-4.8%-4.5%-5.0%
Q3 2016-4.9%-1.9%-11.5%
Q2 2016+3.4%+1.4%+14.8%
Q1 2016+2.1%
Q4 2015-27.6%
Q3 2015+0.7%
Q2 2015+5.0%
Q1 2015-29.0%
Q4 2014+16.3%
Q3 2014+8.5%
Q2 2014+23.7%
Q1 2014+8.5%
Q4 2013+1.8%
Q3 2013+2.6%
Q2 2013+13.3%
Q1 2013+1.4%
Q1 2011-1.9%
Q2 2011-1.9%
Q4 2010-1.9%
Q4 2012-4.1%
Q3 2011+1.7%
Q4 2011+1.7%
Q3 2012+2.1%
Q2 2012
Q1 2012

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