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Jun 30, 2024
Qualys Q2 2024 Earnings Report
Qualys' Q2 2024 financial results were announced, featuring revenue growth and increased GAAP and non-GAAP EPS.
Key Takeaways
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.
Qualys
Qualys
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.
Positive Outlook
- 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.
Challenges Ahead
- 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.