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Dec 31, 2024
Qualys Q4 2024 Earnings Report
Qualys reported strong financial results for the fourth quarter of 2024, with significant increases in revenue, net income, and operating income, driven by the success of its cloud-based IT, security, and compliance solutions.
Key Takeaways
Qualys, Inc. announced robust financial results for the fourth quarter and full year ended December 31, 2024. The company reported revenues of $159.2 million, a 10% increase year-over-year, with GAAP net income of $44.0 million and non-GAAP net income of $59.4 million. Adjusted EBITDA increased by 13% to $74.2 million, and operating cash flow surged by 41% to $47.7 million.
Revenues for Q4 2024 increased by 10% year-over-year to $159.2 million.
GAAP net income for Q4 2024 increased by 8% to $44.0 million, or $1.19 per diluted share.
Non-GAAP net income for Q4 2024 was $59.4 million, or $1.60 per diluted share.
Operating cash flow for Q4 2024 increased by 41% to $47.7 million.
Qualys
Qualys
Forward Guidance
Qualys provided financial guidance for the first quarter and full year fiscal 2025, anticipating continued revenue growth and profitability.
Positive Outlook
- First quarter 2025 revenue is expected to be in the range of $155.5 million to $158.5 million, representing 7% to 9% growth over the same quarter in 2024.
- Full year 2025 revenue is expected to be in the range of $645.0 million to $657.0 million, representing 6% to 8% growth over 2024.
- First quarter 2025 non-GAAP net income per diluted share is expected to be in the range of $1.40 to $1.50.
- Full year 2025 non-GAAP net income per diluted share is expected to be in the range of $5.50 to $5.90.
- The company expects to maintain a non-GAAP effective income tax rate of 21% for both Q1 and FY 2025.
Challenges Ahead
- GAAP net income per diluted share for Q1 2025 is expected to be lower than non-GAAP, in the range of $0.95 to $1.05.
- GAAP net income per diluted share for FY 2025 is expected to be lower than non-GAAP, in the range of $3.62 to $4.02.
- The company does not reconcile non-GAAP net income per diluted share guidance to GAAP due to the unpredictable nature of reconciling items.
- The actual dollar amount of reconciling items is 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, or other significant events.