Fri, Feb 21, 10:03 PM (63 days ago)
**Qualys, Inc. (QLYS) 2024 10-K Summary** For the fiscal year ended December 31, 2024, Qualys, Inc. reported revenues of $607.6 million, a 10% increase from $554.5 million in 2023. Net income rose to $173.7 million (29% of revenues), up from $151.6 million (27% of revenues) in 2023. Operating expenses were $308.9 million, slightly up from $283.9 million, with R&D at $111.9 million and sales and marketing at $128.3 million. The company's strategic focus remains on enhancing its cloud-based IT, security, and compliance solutions, leveraging AI and machine learning to address evolving cybersecurity threats. Qualys continues to face risks, including competition, economic conditions, and cybersecurity threats. The company maintains a strong liquidity position with $575.3 million in cash and marketable securities. The net dollar expansion rate was 103%, indicating robust customer retention and growth. The company repurchased 1 million shares for approximately $140.3 million as part of its ongoing share repurchase program, with $143.4 million remaining for future buybacks. Overall, Qualys demonstrates solid financial health and strategic growth potential in the cybersecurity market.