Company: QLYS
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001107843-25-000038
Chunk: 288

Company: QUALYS, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 2
Chunk 288
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, 2025 compared to the same period in 2024, primarily due to a decrease in personnel costs, including stock-based compensation, driven by lower average grant-date fair value and less incremental expense recorded to reflect the change in estimated achievement rate for PRSUs compared to the same period in 2024, partially offset by additional employees hired to support our growth. 

General and administrative expenses increased by $2.7 million for the nine months ended September 30, 2025 compared to the same period in 2024, primarily due to an increase in personnel costs, including stock-based compensation, of $3.4 million, primarily driven by increase in headcount and increase in incentive compensation compared to the same period in 2024, and an increase in license expenses of $0.9 million, partially offset by a decrease in overhead allocations of $1.6 million.

Total other income, net

Three Months EndedSeptember 30,ChangeNine Months EndedSeptember 30,Change20252024$%20252024$%(in thousands, except percentages)(in thousands, except percentages)Total other income, net$5,327 $7,369 $(2,042)(28)%$19,285 $18,209 $1,076 6 %

Total other income, net decreased by $2.0 million for the three months ended September 30, 2025, compared to the same periods in 2024, primarily due to unfavorable changes in foreign currency of $1.5 million, and a decrease in interest income of $0.5 million.

34

Total other income, net increased by $1.1 million for the nine months ended September 30, 2025, compared to the same periods in 2024, primarily due to favorable changes in foreign currency of $1.8 million, partially offset by a decrease in interest income of $0.7 million.

Income tax provision

Three Months EndedSeptember 30,ChangeNine Months EndedSeptember 30,Change20252024$%20252024$%(in thousands, except percentages)(in thousands, except percentages)Income tax provision$14,936 $6,111 $8,825 144%$37,232 $26,277 $10,955 42%

Income tax provision increased by $8.8 million for the three months ended September 30, 2025 compared to the same period in 2024, primarily due to the tax effect of a