Qualys (QLYS) financial statements
Qualys reported revenue of $669M in fiscal 2025, up 14.5% a year over 9 years.
Net income was $198M and the operating margin 33.2%, against 15.2% in 2016.
Free cash flow was $304M, and the company returned $183M in net buybacks.
The diluted share count fell 5% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Qualys's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $198M | $231M | $279M | $322M | $363M | $411M | $490M | $554M | $608M | $669M |
| Cost of revenue | $43M | $52M | $66M | $70M | $79M | $89M | $103M | $107M | $111M | $115M |
| Gross profit | $155M | $179M | $213M | $252M | $284M | $322M | $387M | $447M | $496M | $554M |
| Research and development | $37M | $43M | $53M | $68M | $73M | $81M | $101M | $110M | $112M | $117M |
| Selling, general and admin | $88M | $99M | $109M | $112M | $115M | $153M | $155M | $173M | $197M | $215M |
| Operating income | $30M | $37M | $50M | $72M | $97M | $88M | $131M | $163M | $187M | $222M |
| Interest expense | $26,000 | $3,000 | $172,000 | $106,000 | $9,000 | $0 | $0 | — | — | — |
| Pre-tax income | $30M | $39M | $55M | $80M | $102M | $89M | $134M | $179M | $210M | $247M |
| Income tax | $11M | -$1M | -$2M | $11M | $10M | $18M | $26M | $27M | $36M | $49M |
| Net income | $19M | $40M | $57M | $69M | $92M | $71M | $108M | $152M | $174M | $198M |
| EPS (diluted) | $0.50 | $1.01 | $1.37 | $1.68 | $2.25 | $1.77 | $2.74 | $4.03 | $4.65 | $5.44 |
| Diluted shares | 38M | 40M | 42M | 41M | 41M | 40M | 39M | 38M | 37M | 36M |
| Gross margin | 78.2% | 77.7% | 76.3% | 78.4% | 78.2% | 78.2% | 79.0% | 80.6% | 81.7% | 82.8% |
| Operating margin | 15.2% | 16.1% | 18.1% | 22.5% | 26.6% | 21.3% | 26.7% | 29.4% | 30.8% | 33.2% |
| Net margin | 9.7% | 17.5% | 20.5% | 21.6% | 25.2% | 17.3% | 22.1% | 27.3% | 28.6% | 29.6% |
Balance sheet
Fiscal years, from Qualys's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $244M | $288M | $289M | $299M | $356M | $405M | $321M | $426M | $232M | $250M |
| Receivables | $47M | $64M | $76M | $78M | $100M | $109M | $122M | $146M | $165M | $171M |
| Total current assets | $301M | $369M | $379M | $396M | $475M | $546M | $473M | $600M | $586M | $658M |
| Property, plant and equipment | $39M | $61M | $61M | $61M | $65M | $62M | $47M | $33M | $30M | $23M |
| Goodwill | $317,000 | $1,549 | $7M | $7M | $7M | $7M | $7M | $7M | $7M | $7M |
| Total assets | $407M | $538M | $586M | $676M | $737M | $815M | $701M | $813M | $974M | $1.1B |
| Total current liabilities | $130M | $166M | $197M | $223M | $256M | $304M | $352M | $389M | $428M | $467M |
| Total liabilities | $149M | $194M | $228M | $289M | $332M | $378M | $412M | $444M | $496M | $534M |
| Shareholders' equity | $258M | $344M | $358M | $387M | $404M | $437M | $289M | $368M | $477M | $561M |
| Net debt | -$87M | -$87M | -$41M | -$88M | -$74M | -$137M | -$174M | -$204M | -$232M | -$250M |
Cash flow
Fiscal years, from Qualys's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $69M | $108M | $125M | $161M | $180M | $201M | $199M | $245M | $244M | $309M |
| Capital spending | $23M | $38M | $23M | $28M | $30M | $24M | $15M | $9M | $12M | $5M |
| Free cash flow | $46M | $70M | $103M | $133M | $150M | $176M | $183M | $236M | $232M | $304M |
| Stock-based compensation | $20M | $27M | $30M | $35M | $40M | $68M | $53M | $69M | $77M | $77M |
| Share buybacks (net) | $0 | $0 | -$85M | -$86M | -$127M | -$130M | -$317M | -$171M | -$140M | -$183M |
| Free cash flow margin | 23.3% | 30.3% | 36.8% | 41.4% | 41.3% | 42.9% | 37.5% | 42.5% | 38.1% | 45.5% |
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Open QLYS in InvestinglyQuestions
What was Qualys's revenue in 2025?
$669M in fiscal 2025, from its 10-K filing.
How much free cash flow does Qualys generate?
$304M in fiscal 2025 (operating cash flow minus capital spending).
From Qualys's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.