Company: QLYS
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001107843-25-000038
Chunk: 287

Company: QUALYS, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 2
Chunk 287
---
780 6%

Research and development expenses remained relatively flat for the three months ended September 30, 2025 compared to the same period in 2024, primarily due to the impact of headcount growth to support product development, partially offset by lower average personnel costs, including stock-based compensation driven by lower average grant-date fair value and geographic mix of the incremental hires.

Research and development expenses increased by $4.8 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 $3.5 million, driven by additional employees hired to support the growth of our business, and an increase in shared cloud platform cost of $1.3 million.

33

Sales and Marketing Expenses

Three Months EndedSeptember 30,ChangeNine Months EndedSeptember 30,Change20252024$%20252024$%(in thousands, except percentages)(in thousands, except percentages)Sales and marketing$35,280 $32,686 $2,594 8%$103,750 $94,240 $9,510 10%

Sales and marketing expenses increased by $2.6 million for the three months ended September 30, 2025 compared to the same period in 2024, primarily due to an increase in personnel costs, driven by increased headcount, of $2.0 million, and an increase in marketing expenses, primarily related to digital advertising, partner event and sponsorship, of $0.6 million.

Sales and marketing expenses increased by $9.5 million for the nine months ended September 30, 2025 compared to the same period in 2024, primarily due to an increase in personnel costs, driven by increased headcount and an increase in sales commissions, of $5.4 million, and an increase in marketing expenses, primarily related to digital advertising, partner event and sponsorship, of $3.1 million, and travel expenses of $1.0 million.

General and Administrative Expenses

Three Months EndedSeptember 30,ChangeNine Months EndedSeptember 30,Change20252024$%20252024$%(in thousands, except percentages)(in thousands, except percentages)General and administrative$17,922 $18,494 $(572)(3%)$53,045 $50,362 $2,683 5%

General and administrative expenses decreased by $0.6 million for the three months ended September 30