Actionable news
0
All posts from Actionable news
Actionable news in QLYS: Qualys, Inc.,

Qualys: Sard Verbinnen & Co

The following excerpt is from the company's SEC filing.

+1 (415) 618-8750

jchristiansen@sardverb.com/disaacs@sardverb.com

QUALYS ANNOUNCES THIRD QUARTER 2015 FINANCIAL RESULTS

Revenue Growth of 24% Year-Over-Year

GAAP EPS $0.11, Non-GAAP EPS $0.19

REDWOOD CITY, CA November 2, 2015

Qualys, Inc. (NASDAQ: QLYS), a pioneer and leading provider of cloud-based security and compliance solutions, today announced financial results for the third quarter ended September 30, 2015. For the quarter, the Company reported record revenues of $42.5 million, GAAP net income of $4.1 million, non-GAAP net income of $7.1 million, adjusted EB ITDA of $15.1 million, GAAP earnings per diluted share of $0.11 and non-GAAP earnings per diluted share of $0.19.

Philippe Courtot, Chairman, President and Chief Executive Officer of Qualys, said, Our strong third quarter results reflect Qualys growing customer base and expanded cloud platform. During the quarter, we launched two groundbreaking extensions on our platform which were extremely well-received by our customers and further differentiate us in the market. First, our new AssetView service allows customers to search across millions of IT assets in seconds and create customizable dashboards that both IT and Security teams can use to efficiently perform critical asset inventory and CMDB integration services. Second, our Cloud Agents technology offers enterprises an easy and scalable solution to manage asset inventory and to perform vulnerability and compliance management on a global scale, including endpoints and elastic cloud environments. Once again, our performance demonstrates that our cloud security platform is highly differentiated and gaining significant traction, and our focus remains on expanding its offerings and continuing to accelerate its market adoption worldwide.

Third Quarter 2015 Financial Highlights

Revenues:

Revenues for the third quarter of 2015 increased by 24% to $42.5 million compared to $34.3 million for the same quarter in 2014. Revenue growth was driven by a combination of sales of subscriptions to new customers, as well as subscription renewals and upsells of additional subscriptions to existing customers.

Deferred Revenues:

Current deferred revenues increased by 24% to $91.9 million at September 30, 2015 compared to $74.3 million at September 30, 2014. Total deferred revenues increased by 22% to $101.8 million at September 30, 2015 compared to $83.3 million at September 30, 2014.

Gross Profit:

GAAP gross profit for the third quarter of 2015 increased by 25% to $33.7 million compared to $26.9 million for the same quarter in 2014. GAAP gross margin percentage was 79% for the third quarter of 2015 compared to 78% in the prior years third quarter. Non-GAAP gross profit increased by 26% to $34.0 million compared to $27.1 million in the same quarter in 2014. Non-GAAP gross margin percentage was 80% for the third quarter of 2015 compared to 79% in the same quarter in 2014.

Operating Income:

GAAP operating income for the third quarter of 2015 was $6.9 million compared to $3.5 million in the same quarter in 2014. Non-GAAP operating income for the third quarter of 2015 was $11.3 million compared to $6.0 million in the same quarter in 2014.

Net Income:

GAAP net income for the third quarter of 2015 was $4.1 million, or $0.11 per diluted share, compared to $3.1 million, or $0.08 per diluted share, for the same quarter in 2014. Non-GAAP net income for the third quarter of 2015 was $7.1 million, or $0.19 per diluted share, compared to non-GAAP net income of $5.6 million, or $0.15 per diluted share, for the same quarter in 2014.

Adjusted EBITDA:

Adjusted EBITDA (a non-GAAP financial measure) for the third quarter of 2015 increased by 67% to $15.1 million compared to $9.0 million for the same quarter in 2014. As a percentage of revenues, adjusted EBITDA increased to 36% for the third quarter of 2015 compared to 26% for the same quarter in 2014.

Cash Flows:

The Company generated $41.7 million in net cash from operations in the first nine months of 2015 compared to $24.9 million in the same period last year. The Company generated $26.7 million in free cash flow (a non-GAAP financial measure) in the first nine months of 2015 compared to $14.7 million in the first nine months of 2014. Qualys defines free cash flows as cash provided by operating activities less purchases of property and equipment and capitalized software development costs.

Third Quarter 2015 Business Highlights

Customers:

New customers included: BBVA Spain, Criteo, EiQ Networks, IMS Health, JW Associates, Markit, Post Office LTD, Quintiles, Santander UK, Spectrum Health Companies, State Farm Insurance, Texas Department of Transportation, T-Mobile, Tropicana Entertainment, Whitbread PLC and Windstream Hosted Solutions.

New Services:

Launched AssetView, a global asset inventory free service providing customers with visibility and actionable data across millions of IT assets in seconds. AssetView enables companies to search for information on any IT asset where a Qualys Cloud Agent is deployed, scaling to millions of assets for organizations of all sizes, helping IT and security personnel to search IT assets in seconds and maintain an up-to-date inventory on a continuous basis.

Released new Qualys Add-on for Splunk Enterprise and Splunk Enterprise Security providing customers with real-time security analytics on Qualys data for breach detection and incident response.

Released new Qualys App for ServiceNow Configuration Management Database (CMDB) to provide ServiceNows CMDB real-time updates for assets and related attributes discovered by Qualys.

Released Qualys Policy Compliance Questionnaire Service enabling customers to assess business processes and vendor risk against standards and mandates such as PCI-DSS, HIPAA, COBIT and ISO 27001/2.

Financial Performance Outlook

Fourth Quarter 2015 Guidance: Management expects revenues to be in the range of $44.3 million to $44.8 million. At the midpoint, this represents 22% growth over fourth quarter 2014 revenues. GAAP net income per diluted share is expected to be...


More