QUALYS, INC. (QLYS): Results of Operations and Financial Condition
QUALYS, INC. (QLYS) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 Qualys Announces Second Quarter 2026 Financial Results Q2 Revenue Growth of 11% Year-Over-Year Raises 2026 Revenue Guidance to $732.0-$738.0 million FOSTER CITY, Calif., – August 4, 2026 – Qualys, Inc. (NASDAQ: QLYS ), a leading provider of disruptive cloud-based IT,
How this was made
The 30-second read
Why it matters
The key tradable items are the raised FY 2026 revenue range and EPS guidance, plus Q2 profitability and operating cash flow strength, which together can shift valuation expectations.
Market read
Raised guidance and strong Q2 operating metrics provide a fresh catalyst for QLYS positioning ahead of subsequent quarter execution.
What to watch
Non-GAAP measures are emphasized; traders may scrutinize GAAP-to-non-GAAP differences and the sustainability of operating cash flow improvements.
Q2 Revenue Growth of 11% Year-Over-Year Raises 2026 Revenue Guidance to $732.0-$738.0 million
Revenue increased by 11%, while GAAP and non-GAAP operating income, net income, Adjusted EBITDA, and operating cash flow all increased year over year. The company raised its full-year revenue, GAAP EPS, and non-GAAP EPS guidance.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| RevenueGAAP | $182.2 million | – | 11% |
| GAAP gross profitGAAP | $151.9 million | – | 12% |
| GAAP gross marginGAAP | 83% | – | – |
| Non-GAAP gross profitnon-GAAP | $154.5 million | – | 12% |
| Non-GAAP gross marginnon-GAAP | 85% | – | – |
| GAAP operating incomeGAAP | $61.9 million | – | 20% |
| GAAP operating income as a percentage of revenuesGAAP | 34% | – | – |
| Non-GAAP operating incomenon-GAAP | $81.4 million | – | 16% |
| Non-GAAP operating income as a percentage of revenuesnon-GAAP | 45% | – | – |
| GAAP net incomeGAAP | $52.4 million | – | 11% |
| GAAP net income per diluted shareGAAP | $1.50 | – | – |
| GAAP net income as a percentage of revenuesGAAP | 29% | – | – |
| Non-GAAP net incomenon-GAAP | $69.2 million | – | 13% |
| Non-GAAP net income per diluted sharenon-GAAP | $1.98 | – | – |
| Non-GAAP net income as a percentage of revenuesnon-GAAP | 38% | – | – |
| Adjusted EBITDAnon-GAAP | $83.8 million | – | 14% |
| Adjusted EBITDA as a percentage of revenuesnon-GAAP | 46% | – | – |
| Operating cash flowother | $59.6 million | – | 77% |
| Operating cash flow as a percentage of revenuesother | 33% | – | – |
Third Quarter 2026 and Full Year 2026 outlook
- RevenueThird quarter of 2026: $185.5 million to $187.5 million; full year of 2026: $732.0 million to $738.0 million
- Tax rateThird quarter 2026 GAAP effective income tax rate: 21%; third quarter 2026 non-GAAP effective income tax rate: 20%; full year 2026 GAAP effective income tax rate: 21%; full year 2026 non-GAAP effective income tax rate: 20%
- NoteThird quarter of 2026 revenue growth: 9% to 10% growth over the same quarter in 2025
- NoteThird quarter 2026 GAAP net income per diluted share: $1.43 to $1.50
- NoteThird quarter 2026 non-GAAP net income per diluted share: $1.91 to $1.98
- NoteThird quarter 2026 estimates are based on approximately 35.0 million weighted average diluted shares outstanding for the quarter
- NoteFull year 2026 revenue growth: 9% to 10% growth over 2025
- NoteFull year 2026 GAAP net income per diluted share: $5.76 to $5.90
- NoteFull year 2026 non-GAAP net income per diluted share: $7.74 to $7.88
- NoteFull year 2026 estimates are based on approximately 35.2 million weighted average diluted shares outstanding
- NotePrevious full-year revenue guidance range: $721.0 million to $727.0 million
- NotePrevious full-year GAAP net income per diluted share guidance range: $5.40 to $5.61
- NotePrevious full-year non-GAAP net income per diluted share guidance range: $7.44 to $7.65
What drove it
- Management cited continuous innovation spanning AI for security and security for AI.
- Management cited growing AI-native Risk Operations Center adoption powered by Enterprise TruRisk Management.
- Management cited a growing federal pipeline of new business opportunity, strong partner-led execution, and early QFlex engagement.
- Qualys’ TotalCloud solution achieved FedRAMP High Authorization, extending the Qualys Government Platform's authorization to include Cloud-Native Application Protection Platform capabilities.
- Qualys collaborated with Anthropic Project Glasswing and Open AI’s Trusted Access for Cyber program.
- Qualys and Converge announced a joint offering tied to demonstrated cybersecurity compliance and Enterprise TruRisk Management.
Concerns
- Third quarter 2026 revenue guidance calls for 9% to 10% growth over the same quarter in 2025, compared with 11% revenue growth reported for the second quarter of 2026.
- No segment revenue disclosure was provided in the filing text.
- The company did not reconcile non-GAAP net income per diluted share guidance to GAAP net income per diluted share guidance because it does not provide guidance on reconciling items.
What to watch
- Execution against third quarter 2026 revenue guidance of $185.5 million to $187.5 million.
- Execution against full-year 2026 revenue guidance of $732.0 million to $738.0 million.
- Progress in AI-native Risk Operations Center adoption, the federal pipeline, partner-led execution, and QFlex engagement.
- Whether the FedRAMP High Authorization for TotalCloud contributes to opportunities with federal agencies and highly regulated organizations.
Balance sheet and cash flow
- Operating cash flow for the second quarter of 2026 increased by 77% to $59.6 million compared to $33.8 million for the same quarter in 2025.
- Operating cash flow was 33% of revenues for the second quarter of 2026 compared to 21% for the same quarter in 2025.
Analysis
Qualys reported second-quarter revenue of $182.2 million, up 11% from $164.1 million in the same quarter in 2025. Management attributed demand to AI-related security innovation, adoption of its AI-native Risk Operations Center through Enterprise TruRisk Management, a growing federal pipeline, partner-led execution, and early QFlex engagement. The TotalCloud FedRAMP High Authorization also expands the company’s government platform authorization to include Cloud-Native Application Protection Platform capabilities.
Profitability improved across reported measures. GAAP gross margin was 83%, compared with 82%, and non-GAAP gross margin was 85%, compared with 84%. GAAP operating income increased 20% to $61.9 million and reached 34% of revenues, versus 31%. Non-GAAP operating income increased 16% to $81.4 million and represented 45% of revenues, compared with 43%.
GAAP net income increased 11% to $52.4 million, or $1.50 per diluted share, while non-GAAP net income increased 13% to $69.2 million, or $1.98 per diluted share. Adjusted EBITDA increased 14% to $83.8 million and was 46% of revenues, compared with 45%. Operating cash flow rose 77% to $59.6 million and was 33% of revenues, compared with 21%, making cash generation a notable feature of the quarter.
Management raised full-year 2026 revenue guidance to $732.0 million to $738.0 million from $721.0 million to $727.0 million. It also raised full-year GAAP net income per diluted share guidance to $5.76 to $5.90 from $5.40 to $5.61 and non-GAAP net income per diluted share guidance to $7.74 to $7.88 from $7.44 to $7.65. Third-quarter revenue guidance is $185.5 million to $187.5 million, representing 9% to 10% growth over the same quarter in 2025, alongside GAAP EPS guidance of $1.43 to $1.50 and non-GAAP EPS guidance of $1.91 to $1.98.
Management, verbatim
In Q2, we continued to execute well, demonstrated by another quarter of solid revenue growth and profitability.
Sumedh Thakar, president and CEO
Qualys’ continuous innovation spanning AI for security and security for AI, growing AI-native Risk Operations Center adoption powered by our Enterprise TruRisk Management solution, a growing federal pipeline of new business opportunity, strong partner-led execution, and promising early QFlex engagement continue to reinforce the demand we’re seeing for a unified risk management platform that autonomously moves beyond theoretical exposure to validated, quantified, and remediated risk at the speed of modern attacks in multi-vendor environments.
Sumedh Thakar, president and CEO
Not in the filing
stated, not guessed- Previous-release outlook was not provided for a period-specific comparison of prior guidance with actual results.
- Segment revenue, segment year-over-year changes, segment quarter-over-quarter changes, and segment drivers by reported segment.
- Prior-quarter figures and quarter-over-quarter changes for reported financial metrics.
- Free cash flow.
- Cash, cash equivalents, marketable securities, debt, and other balance-sheet balances.
- Share repurchases, dividends, and other capital-return amounts.
- Operating expenses.
- Guidance for gross margin and operating expenses.
- Year-over-year percentage changes for GAAP and non-GAAP net income per diluted share were not printed.
- Year-over-year percentage changes for gross-margin, operating-margin, net-income-margin, Adjusted EBITDA margin, and operating-cash-flow-margin metrics were not printed as percentage changes.
AlphaAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
This is a Qualys Form 8-K (Item 2.02) with Q2 2026 financial results and updated Q3 and full-year 2026 guidance.
Ticker impact
Qualys reported Q2 2026 results and raised full-year 2026 revenue guidance to $732.0-$738.0 million from $721.0-$727.0 million.
Near-term upside bias as traders price in higher FY growth and profitability, with follow-through dependent on Q3 execution.
The filing discloses fresh, time-sensitive guidance changes (FY and Q3 ranges) plus multiple Q2 operating metrics and cash flow improvements, which typically drive earnings-multiple repricing.
Market effects
Strength in cloud security and compliance demand signals continued budget allocation for security and risk management platforms.
Limited direct regional impact; primarily US-listed earnings/guidance for a global security software vendor.
Moderate, as FedRAMP authorization and federal pipeline commentary can influence broader US government security spending expectations.
Counterpoint
Guidance raises may already be partially anticipated; investors may focus on whether AI and federal pipeline commentary converts into sustained bookings beyond 2026.
Key entities
- public_companyQualys, Inc.
NASDAQ-listed cloud IT, security, and compliance solutions provider issuing Q2 results and updated 2026 guidance.
- regulatory_programFedRAMP High Authorization
Authorization milestone for Qualys TotalCloud, extending government platform coverage to CNAPP capabilities.
- partnerConverge
Cyber insurance premium reduction offering tied to Qualys Enterprise TruRisk Management compliance outcomes.
