Loading...
•
Dec 31, 2023
Qualys Q4 2023 Earnings Report
Qualys reported a 10% increase in Q4 revenue, reaching $144.6 million, and GAAP EPS of $1.08 and Non-GAAP EPS of $1.40.
Key Takeaways
Qualys announced its Q4 2023 financial results, showcasing a 10% year-over-year revenue increase to $144.6 million. The company's GAAP EPS stood at $1.08, with a non-GAAP EPS of $1.40. Qualys' strategic focus on consolidating security tools and platform integration drove financial success and increased module adoption.
Q4 revenue increased by 10% year-over-year to $144.6 million.
GAAP net income increased by 43% to $40.6 million, or $1.08 per diluted share.
Non-GAAP net income was $52.8 million, or $1.40 per diluted share.
Adjusted EBITDA increased by 20% to $65.8 million.
Qualys
Qualys
Forward Guidance
Qualys provided financial guidance for Q1 2024, projecting revenues between $144.5 million and $146.5 million, and GAAP net income per diluted share between $0.84 and $0.92. For the full year 2024, Qualys anticipates revenues between $600.0 million and $610.0 million, with GAAP net income per diluted share between $3.11 and $3.43.
Positive Outlook
- Revenue for Q1 2024 is expected to grow by 11% to 12% over the same quarter in 2023.
- GAAP net income per diluted share for Q1 2024 is projected to be in the range of $0.84 to $0.92.
- Non-GAAP net income per diluted share for Q1 2024 is expected to be in the range of $1.27 to $1.35.
- Full year 2024 revenue is anticipated to be in the range of $600.0 million to $610.0 million, representing 8% to 10% growth over 2023.
- GAAP net income per diluted share for the full year 2024 is expected to be in the range of $3.11 to $3.43.
Challenges Ahead
- Guidance is subject to cautionary factors regarding forward-looking statements and non-GAAP financial measures.
- Actual dollar amount of reconciling items in the first quarter and full year 2024 is likely to have a significant impact on the Company’s GAAP net income per diluted share.
- A reconciliation of the non-GAAP net income per diluted share guidance to the GAAP net income per diluted share guidance is not available without unreasonable effort.
- Effective income tax rate of 22% is assumed for GAAP, and 21% for non-GAAP.
- Estimates are based on approximately 37.9 million weighted average diluted shares outstanding for the quarter and full year.