Company: QLYS
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001107843-25-000038
Chunk: 166

Company: QUALYS, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 166
---
6.                              Intangible Assets, Net

Intangible assets consist primarily of developed technology and patent licenses acquired from business or asset acquisitions. Acquired intangibles are amortized on a straight-line basis over the respective estimated useful lives of the assets.The carrying values of intangible assets are as follows:September 30, 2025(in thousands)Weighted Average Life (Years)CostAccumulated AmortizationNet Book ValueDeveloped technology4.6$40,141 $(35,287)$4,854 Total intangibles subject to amortization$40,141 $(35,287)$4,854 Intangible assets not subject to amortization40 Total intangible assets, net$4,894  December 31, 2024(in thousands)Weighted Average Life (Years)CostAccumulated AmortizationNet Book ValueDeveloped technology4.6$40,141 $(33,369)$6,772 Total intangibles subject to amortization$40,141 $(33,369)$6,772 Intangible assets not subject to amortization40 Total intangible assets, net$6,812 Intangible asset amortization expense was $0.6 million and $0.7 million for the three months ended September 30, 2025 and 2024, respectively, and $1.9 million and $2.3 million for the nine months ended September 30, 2025 and 2024, respectively. Intangible asset amortization expenses were primarily recorded in cost of revenues in the condensed consolidated statements of operations.

19

As of September 30, 2025, the Company expects amortization expense in future periods to be as follows:(in thousands)2025 (remaining three months)$639 20262,477 20271,738 Total expected future amortization expense$4,854 

NOTE 7.                              Leases

The Company leases certain offices, computer equipment and its shared cloud platform facilities under non-cancelable operating leases for varying periods through 2034. While under the Company's lease agreements the Company has options to extend its certain leases, the Company has not included renewal options in determining the lease terms for calculating its lease liabilities, as these options are not reasonably certain of being exercised. Lease expense was $2.9 million and $4.5 million for the three months ended September 30, 2025 and 2024