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Qualys Q1 2025 Earnings Report
Qualys reported strong financial results for the first quarter of 2025, with significant increases in revenue, net income, and operating cash flow.
Key Takeaways
Qualys, Inc. announced robust financial results for the first quarter ended March 31, 2025, with revenues reaching $159.9 million, a 10% increase year-over-year. GAAP net income was $47.5 million, and non-GAAP net income was $61.4 million. The company also reported a substantial 28% increase in operating cash flow to $109.6 million.
Revenues increased by 10% year-over-year to $159.9 million.
GAAP net income rose by 20% to $47.5 million, with GAAP diluted EPS at $1.29.
Non-GAAP net income reached $61.4 million, resulting in non-GAAP diluted EPS of $1.67.
Operating cash flow saw a significant 28% increase, reaching $109.6 million.
Qualys
Qualys
Forward Guidance
Qualys has updated its full-year 2025 guidance, raising the lower end of its revenue forecast and increasing both GAAP and non-GAAP diluted EPS ranges, reflecting confidence in continued growth.
Positive Outlook
- Full year 2025 revenue guidance raised to $648.0 million - $657.0 million (previously $645.0 million - $657.0 million).
- Full year 2025 GAAP diluted EPS guidance increased to $4.27 - $4.57 (previously $3.62 - $4.02).
- Full year 2025 non-GAAP diluted EPS guidance increased to $6.00 - $6.30 (previously $5.50 - $5.90).
- Second quarter 2025 revenue expected to grow 7% to 9% year-over-year.
- Second quarter 2025 non-GAAP diluted EPS expected to be $1.40 - $1.50.
Challenges Ahead
- GAAP net income per diluted share guidance for Q2 2025 is lower than Q1 2025 ($0.97 - $1.07 vs $1.29).
- Non-GAAP net income per diluted share guidance for Q2 2025 is lower than Q1 2025 ($1.40 - $1.50 vs $1.67).
- The company does not provide a reconciliation of non-GAAP guidance to GAAP guidance due to the difficulty in forecasting certain reconciling items.
- Actual dollar amount of reconciling items in Q2 and full year 2025 are likely to have a significant impact on GAAP net income per diluted share.
- The non-GAAP effective income tax rate could be subject to change due to tax legislation, geographic mix of revenues/expenses, and other significant events.