Company: QLYS
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001107843-25-000017
Chunk: 186

Company: QUALYS, INC.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 8
Chunk 186
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689 23,429 Scanner appliances18,976 18,978 Furniture, fixtures and equipment5,202 5,204 Total property and equipment262,517 261,121 Less: accumulated depreciation and amortization(234,267)(230,772)Property and equipment, net$28,250 $30,349 As of March 31, 2025 and December 31, 2024, physical scanner appliances and other computer equipment that are or will be subject to leases by customers had a net carrying value of $10.4 million and $11.2 million, respectively, including assets that had not been placed in service of $4.6 million and $7.4 million, respectively. Depreciation and amortization expenses relating to property and equipment were $3.5 million and $4.5 million for the three months ended March 31, 2025 and 2024, respectively, which were mainly recorded in cost of revenues in the condensed consolidated statements of operations.

NOTE 5.                              Revenue from Contracts with Customers

The Company records deferred revenue when cash payments are received or due in advance of its performance obligations offset by revenue recognized in the period. Revenues of $142.7 million and $131.0 million were recognized during the three months ended March 31, 2025 and 2024, respectively, which amounts were included in the deferred revenue balances of $395.7 million and $364.9 million as of December 31, 2024 and 2023, respectively. The Company's payment terms vary by the type and location of its customers. The term between invoicing and when payment is due is not significant. In certain circumstances, based on the credit quality of the customer, the Company requires payment before the products or services are delivered to the customer.

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The following table sets forth the expected revenue from all remaining performance obligations as of March 31, 2025:(in thousands)2025 (remaining nine months)$194,363 2026157,673 202769,651 20284,528 20291,249 2030 and thereafter142 Total$427,606 Revenues allocated to remaining performance obligations represents the transaction price of noncancelable orders for which service has not been performed, which include deferred revenue and the amounts that will be invoiced and recognized as revenues in future periods from open contracts and excludes unexercised renewals. The Company applied