{"id":525640,"date":"2021-08-09T19:01:06","date_gmt":"2021-08-09T23:01:06","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/qualys-announces-second-quarter-2021-financial-results\/"},"modified":"2021-08-09T19:01:06","modified_gmt":"2021-08-09T23:01:06","slug":"qualys-announces-second-quarter-2021-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/qualys-announces-second-quarter-2021-financial-results\/","title":{"rendered":"Qualys Announces Second Quarter 2021 Financial Results"},"content":{"rendered":"
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Revenue Growth of 12% Year-Over-Year<\/h2>\n

GAAP EPS: $0.53; Non-GAAP EPS: $0.79<\/h2>\n

Raises 2021 Revenue Guidance to $406.0-$407.5 million<\/h2>\n

Raises 2021 GAAP EPS Guidance to $1.38-$1.43<\/h2>\n

Raises 2021 Non-GAAP EPS Guidance to $3.02-$3.07<\/h2>\n

PR Newswire<\/p>\n<\/p><\/div>\n

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\n FOSTER CITY, Calif.<\/span>, Aug. 9, 2021<\/span> \/PRNewswire\/ — Qualys, Inc.<\/a> (NASDAQ: QLYS), a pioneer and leading provider of disruptive cloud-based IT, security and compliance solutions, today announced financial results for the second quarter ended June 30, 2021<\/span>. For the quarter, the Company reported revenues of $99.7 million<\/span>, net income under United States Generally Accepted Accounting Principles (“U.S. GAAP”) of $21.1 million<\/span>, non-GAAP net income of $31.6 million<\/span>, Adjusted EBITDA of $46.7 million<\/span>, GAAP net income per diluted share of $0.53<\/span>, and non-GAAP net income per diluted share of $0.79<\/span>.<\/p>\n

“We delivered solid results for the second quarter reflecting the power of the Qualys Cloud Platform and its associated apps to uniquely help customers secure their digital transformations and the modern work from anywhere environment,” said Sumedh Thakar<\/span>, president and CEO of Qualys. “As a result, we continued to see strong customer interest and adoption of our Vulnerability Management, Detection and Response (VMDR\u00ae) application in the quarter with paid cloud agent subscriptions growing 51% year-over-year to 64 million deployed. Our innovative cloud engine continues to fire on all cylinders, our competitive position is strong, and we are making good progress advancing our go-to-market initiatives to accelerate growth and create long-term value for our shareholders.” <\/p>\n

\n Second Quarter 2021 Financial Highlights <\/b>\n <\/p>\n

\n Revenues: <\/b>Revenues for the second quarter of 2021 increased by 12% to $99.7 million<\/span> compared to $88.8 million<\/span> for the same quarter in 2020. <\/p>\n

\n Gross Profit: <\/b>GAAP gross profit for the second quarter of 2021 increased by 12% to $78.2 million<\/span> compared to $69.9 million<\/span> for the same quarter in 2020. GAAP gross margin was 78% for the second quarter of 2021 compared to 79% for the same quarter in 2020. Non-GAAP gross profit for the second quarter of 2021 increased by 12% to $80.6 million<\/span> compared to $72.0 million<\/span> for the same quarter in 2020. Non-GAAP gross margin was 81% for both the second quarter of 2021 and 2020. <\/p>\n

\n Operating Income:<\/b> GAAP operating income for the second quarter of 2021 increased by 15% to $29.4 million<\/span> compared to $25.5 million<\/span> for the same quarter in 2020. As a percentage of revenues, GAAP operating income was 29% for both the second quarter of 2021 and 2020. Non-GAAP operating income for the second quarter of 2021 increased by 8% to $39.6 million<\/span> compared to $36.5 million<\/span> for the same quarter in 2020. As a percentage of revenues, non-GAAP operating income was 40% for the second quarter of 2021 compared to 41% for the same quarter in 2020. <\/p>\n

\n Net Income: <\/b>GAAP net income for the second quarter of 2021 was $21.1 million<\/span>, or $0.53<\/span> per diluted share, compared to $26.3 million<\/span>, or $0.64<\/span> per diluted share, for the same quarter in 2020. As a percentage of revenues, GAAP net income was 21% for the second quarter of 2021 compared to 30% for the same quarter in 2020. Non-GAAP net income for the second quarter of 2021 was $31.6 million<\/span>, or $0.79<\/span> per diluted share, compared to $30.3 million<\/span>, or $0.74<\/span> per diluted share, for the same quarter in 2020. As a percentage of revenues, non-GAAP net income was 32% for the second quarter of 2021 compared to 34% for the same quarter of 2020.\u00a0 <\/p>\n

\n Adjusted EBITDA: <\/b>Adjusted EBITDA for the second quarter of 2021 increased by 9% to $46.7 million<\/span> compared to $42.8 million<\/span> for the same quarter in 2020. As a percentage of revenues, Adjusted EBITDA was 47% for the second quarter of 2021 compared to 48% for the same quarter in 2020. \u00a0<\/p>\n

\n Operating Cash Flow: <\/b>Operating cash flow for the second quarter of 2021 increased by 86% to $54.4 million<\/span> compared to $29.2 million<\/span> for the same quarter in 2020. As a percentage of revenues, operating cash flow was 55% for the second quarter of 2021 compared to 33% for the same quarter in 2020. \u00a0<\/p>\n

\n Second Quarter 2021 Business Highlights <\/b>\n <\/p>\n