Qualys Inc
Q4 2025 Earnings
Market Reaction
S&P 500 over the same 30 days: −2.07%.
Did QLYS Beat Earnings? Q4 2025 Results
Qualys closed out fiscal 2025 on a strong note, posting Q4 revenue of $175.28 million, a 10.1% year-over-year gain that edged past the $173.18 million consensus by 1.21%, while non-GAAP EPS of $1.87 cleared the $1.78 estimate by 4.91%. The headline numbers were underpinned by meaningful margin expansion, with GAAP operating income climbing 19% to $58.84 million and operating margin widening to 34% from 31% a year ago, reflecting disciplined cost management and operating leverage. A 59% surge in quarterly operating cash flow to $75.70 million added further weight to the results, and analysts have noted that full-year free cash flow of $304.41 million significantly exceeded statutory net income of $198.32 million, suggesting stronger underlying earnings power than reported profits convey. Looking ahead, management guided full-year 2026 revenue of $717.00 million to $725.00 million, implying 7-8% growth, a modest step down from the current 10% pace that reflects cautious macro assumptions rather than any deterioration in the company's core cybersecurity demand trends.
- 10% year-over-year revenue growth driven by platform adoption and enterprise engagements
- GAAP operating margin expanded to 34% from 31% year-over-year
- Operating cash flow increased 59% year-over-year in Q4 to $75.7 million
- Non-GAAP gross margin improved to 85% from 84% year-over-year
“Qualys is redefining how organizations manage pre-breach cyber risk by natively unifying Continuous Threat Exposure Management with exploit confirmation, risk quantification, and automated remediation powered by an agentic AI risk fabric. Against this backdrop, we continued to execute well in Q4, demonstrated by another quarter of solid revenue growth and profitability.”
Qualys CEO, on the earnings call
Forward Guidance & Outlook
For Q1 2026, Qualys expects revenue of $172.5 million to $174.5 million (8-9% YoY growth), GAAP EPS of $1.29 to $1.36, and non-GAAP EPS of $1.76 to $1.83, based on approximately 36.0 million weighted average diluted shares. For full year 2026, the company guides revenue of $717.0 million to $725.0 million (7-8% YoY growth), GAAP EPS of $5.20 to $5.48, and non-GAAP EPS of $7.17 to $7.45, based on approximately 35.4 million weighted average diluted shares. The GAAP effective tax rate is assumed at 21% and non-GAAP effective tax rate at 20%.
QLYS YoY Financials
Figures from SEC filings and company reports. Not investment advice.