Qualys Earnings Call Transcripts
Fiscal Year 2025
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Delivered 10% revenue growth and 47% EBITDA margin in 2025, driven by innovation in agentic AI-powered risk management and strong partner ecosystem performance. 2026 guidance projects 7%-8% revenue growth, mid-40s EBITDA margin, and continued expansion of differentiated offerings.
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Q3 2025 saw 10% revenue growth, strong profitability, and expanding adoption of AI-powered risk management solutions. Guidance for 2025 was raised, with continued focus on upselling ETM, partner ecosystem growth, and capital efficiency.
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Strong quarterly growth and profitability were driven by improved net retention and ongoing investment in AI-powered risk management solutions. Expansion in the federal sector, a growing partner ecosystem, and a flexible platform strategy position the business for future growth.
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Q2 2025 saw 10% revenue growth, improved profitability, and strong channel momentum, with new AI-driven solutions and flexible pricing models driving adoption. Guidance for 2025 was raised, reflecting confidence despite macroeconomic challenges, and FedRAMP High authorization opens new federal and commercial opportunities.
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Qualys is evolving from vulnerability management to a holistic cyber risk platform, emphasizing risk prioritization, remediation, and business impact. Growth is driven by existing customers, new products, and a strategic shift to channel partners, with significant opportunities in federal and cloud sectors.
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Q1 2025 saw 10% revenue growth, strong profitability, and robust free cash flow, driven by innovation in AI-powered security and expanding partner channels. Guidance for FY2025 was raised, but macroeconomic uncertainty is expected to challenge new business growth.
Fiscal Year 2024
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Delivered 10% revenue growth and 47% adjusted EBITDA margin in 2024, driven by product innovation and increased channel contribution. 2025 guidance reflects 6%-8% revenue growth, ongoing budget scrutiny, and a partner-first strategy, with significant investments in platform and federal expansion.
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The discussion highlighted a strategic shift toward outcome-driven vulnerability management, new product launches like TruRisk Eliminate and TotalAI, and a platform approach integrating risk data for board-level reporting. Financial performance improved with strong Q3 billings and stabilized net retention, while federal and cloud markets offer significant growth opportunities.
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Q3 2024 saw 8% revenue growth, strong upsell and channel momentum, and major product launches in risk management and AI security. Full-year guidance was raised, with continued investment in sales, marketing, and data center efficiency.
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Net new business has grown double digits for four quarters, while net retention has declined, prompting a focus on customer value and new product launches. Platform innovation targets cloud, AI, and risk management, with expansion into federal and remediation markets expected.
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Q2 2024 revenue grew 8% to $148.7M, with strong international and channel growth, but upsell and expansion slowed due to macro headwinds and the Microsoft Defender sunset. New AI and risk management solutions launched, and full-year guidance was lowered, though profitability remains strong.
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The company is expanding its SaaS-based cyber risk management platform, with new solutions like TruRisk and Patch Management driving growth. Investments in sales, marketing, and AI are expected to reaccelerate revenue, while channel partners play a growing role in the go-to-market strategy.