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Jun 30, 2023
Qualys Q2 2023 Earnings Report
Qualys reported healthy revenue growth, strong profitability, and cash-flow generation.
Key Takeaways
Qualys announced financial results for the second quarter ended June 30, 2023, reporting revenues of $137.2 million, a 14% increase compared to the same quarter in 2022. GAAP EPS was $0.95, and non-GAAP EPS was $1.27.
Revenues for the second quarter of 2023 increased by 14% to $137.2 million compared to $119.9 million for the same quarter in 2022.
GAAP net income for the second quarter of 2023 increased by 33% to $35.4 million, or $0.95 per diluted share.
Non-GAAP net income for the second quarter of 2023 was $47.5 million, or $1.27 per diluted share.
Qualys’ VMDR was recognized by SC Awards Europe for best vulnerability management solution.
Qualys
Qualys
Forward Guidance
Qualys is issuing financial guidance for the third quarter and full year fiscal 2023. Management expects revenues for the third quarter of 2023 to be in the range of $140.5 million to $141.5 million, representing 12% to 13% growth over the same quarter in 2022. Management now expects revenues for the full year of 2023 to be in the range of $553.0 million to $555.0 million, representing 13% growth over 2022.
Positive Outlook
- Revenue growth of 12% to 13% is expected for Q3 2023 compared to the same quarter in 2022.
- GAAP net income per diluted share is expected to be in the range of $0.71 to $0.76 for Q3 2023.
- Non-GAAP net income per diluted share is expected to be in the range of $1.10 to $1.15 for Q3 2023.
- Full year 2023 revenue is expected to be in the range of $553.0 million to $555.0 million, representing 13% growth over 2022.
- Full year 2023 GAAP net income per diluted share is expected to be in the range of $3.07 to $3.22.
Challenges Ahead
- The guidance is subject to various important cautionary factors referenced in the sections entitled “Legal Notice Regarding Forward-Looking Statements”.
- GAAP net income per diluted share is expected to be in the range of $0.71 to $0.76 for Q3 2023, which assumes an effective income tax rate of 26%.
- Non-GAAP net income per diluted share is expected to be in the range of $1.10 to $1.15 for Q3 2023, which assumes a non-GAAP effective income tax rate of 24%.
- Management now expects revenues for the full year of 2023 to be in the range of $553.0 million to $555.0 million, down from the previous guidance range of $553.0 million to $557.0 million.
- Full year 2023 GAAP net income per diluted share is expected to be in the range of $3.07 to $3.22, up from the previous guidance range of $2.58 to $2.73.