Company: QLYS
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001107843-25-000038
Chunk: 285

Company: QUALYS, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 2
Chunk 285
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Research and development17 19 18 19 Sales and marketing21 21 21 21 General and administrative11 12 11 11 Total operating expenses49 52 50 51 Income from operations35 29 33 31 Total other income, net3 5 4 4 Income before income taxes38 34 37 35 Income tax provision8 4 8 6 Net income30%30%29%29%

Comparison of Three and Nine Months Ended September 30, 2025 and 2024

Revenues

Three Months EndedSeptember 30,ChangeNine Months EndedSeptember 30,Change20252024$%20252024$%(in thousands, except percentages)(in thousands, except percentages)Revenues$169,882 $153,867 $16,015 10%$493,843 $448,380 $45,463 10%

Revenues increased by $16.0 million for the three months ended September 30, 2025 compared to the same period in 2024, driven by increased demand for our subscription services by our end customers. Of the total increase of $16.0 million in revenues, 95% was from revenues from customers existing prior to July 1, 2025, and the remaining 5% was from new customers added in the three months ended September 30, 2025. Of the total increase of $16.0 million, 40% was from customers in the United States and the remaining 60% was from customers in foreign countries. Of the total increase of $16.0 million, 26% was from direct customers and the remaining 74% was from partners. In the three months ended September 30, 2025, 50% of total revenue was direct and the remaining 50% was from partners.

Revenues increased by $45.5 million for the nine months ended September 30, 2025 compared to the same period in 2024, driven by increased demand for our subscription services by our end customers. Of the total increase of $45.5 million in revenues, 83% was from revenues from customers existing prior to January 1, 2025, and the remaining 17% was from new customers added in the nine months ended September 30, 2025. Of the total increase of $45.5 million, 37% was from customers in the United States and