Company: QLYS
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001107843-25-000031
Chunk: 151

Company: QUALYS, INC.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 151
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 deferred costs to obtain contracts.As of December 31, 2023, the net carrying value of the Company’s accounts receivable, current deferred revenues, and noncurrent deferred revenues were $146.2 million, $333.3 million and $31.7 million, respectively.

NOTE 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:June 30, 2025(in thousands)Weighted Average Life (Years)CostAccumulated AmortizationNet Book ValueDeveloped technology4.6$40,141 $(34,648)$5,493 Total intangibles subject to amortization$40,141 $(34,648)$5,493 Intangible assets not subject to amortization40 Total intangible assets, net$5,533  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 $0.7 million and $0.8 million for the three months ended June 30, 2025 and 2024, respectively, and $1.3 million and $1.5 million for the six months ended June 30, 2025 and 2024, respectively. Intangible asset amortization expenses were primarily recorded in cost of revenues in the condensed consolidated statements of operations.

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As of June 30, 2025, the Company expects amortization expense in future periods to be as follows:(in thousands)2025 (remaining six months)$1,278 20262,477 20271,738 Total expected future amortization expense$5,493 

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