Company: QLYS
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001107843-25-000017
Chunk: 158

Company: QUALYS, INC.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 158
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 Months EndedMarch 31,20252024(in thousands)Cost of revenues$2,090 $2,020 Research and development5,104 5,303 Sales and marketing3,200 3,739 General and administrative8,426 7,969 Total stock-based compensation, net of amounts capitalized (1)$18,820 $19,031 (1)Total stock-based compensation expense capitalized was de minimis during the three months ended March 31, 2025 and 2024.Of the total stock-based compensation expense in the table above, the Company recognized stock-based compensation expenses related to all PRSUs of $3.3 million and $2.8 million during the three months ended March 31, 2025 and 2024, respectively.As of March 31, 2025, the Company had unrecognized stock-based compensation expenses of $18.1 million, $80.5 million, $10.7 million, and $0.8 million related to options, RSUs, PRSUs, and ESPP purchase rights, respectively, which are expected to be recognized over weighted-average periods of 2.3 years, 2.7 years, 1.0 year, and 0.4 years, respectively.

22

Share Repurchase ProgramThe Company's share repurchase program was authorized by the board of directors as follows: Announcement DateAuthorized Dollar Value(in millions)February 12, 2018$100.0 October 30, 2018100.0 October 30, 2019100.0 May 7, 2020100.0 February 10, 2021100.0 November 3, 2021200.0 May 4, 2022200.0 February 9, 2023100.0 February 7, 2024200.0 February 6, 2025200.0 Total as of March 31, 2025$1,400.0 Shares may be repurchased from time to time on the open market in accordance with Rule 10b-18 of the Exchange Act of 1934, including pursuant to a pre-set trading plan adopted in accordance with Rule 10b5-1 under the Exchange Act. All share repurchases have been made using cash resources. Repurchased shares are retired and reclassified as authorized and unissued shares of common stock. On retirement of the repurchased