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Sep 30, 2024
Qualys Q3 2024 Earnings Report
Qualys' Q3 2024 financial results announced, demonstrating revenue growth and strategic advancements.
Key Takeaways
Qualys reported Q3 2024 revenues of $153.9 million, an 8% increase year-over-year. GAAP EPS was $1.24, and non-GAAP EPS was $1.56. The company has raised its 2024 revenue and EPS guidance.
Revenue increased by 8% year-over-year to $153.9 million.
GAAP EPS reached $1.24, while non-GAAP EPS was $1.56.
Launched Qualys' TruRisk Eliminate for remediation and Qualys TotalAI for securing generative AI.
The company raised its full year 2024 revenue guidance to $602.9-$605.9 million.
Qualys
Qualys
Forward Guidance
Qualys provided financial guidance for Q4 and full year 2024, with expected revenue growth and increased EPS.
Positive Outlook
- Q4 2024 revenue is expected to be in the range of $154.5 million to $157.5 million, representing 7% to 9% growth over the same quarter in 2023.
- Full year 2024 revenue is expected to be in the range of $602.9 million to $605.9 million, representing 9% growth over 2023.
- GAAP net income per diluted share for Q4 is expected to be in the range of $0.84 to $0.94.
- Non-GAAP net income per diluted share for Q4 is expected to be in the range of $1.28 to $1.38.
- Full year 2024 GAAP net income per diluted share is expected to be in the range of $4.31 to $4.41.
Challenges Ahead
- Guidance is subject to various cautionary factors.
- Estimates for net income per diluted share are based on approximately 36.9 million weighted average diluted shares outstanding for Q4.
- Estimates assume an effective income tax rate of 21%.
- Qualys has not reconciled non-GAAP net income per diluted share guidance to GAAP net income per diluted share guidance.
- The actual dollar amount of reconciling items in the fourth quarter and full year 2024 is likely to have a significant impact on the Company’s GAAP net income per diluted share in the fourth quarter and full year 2024.