Company: QLYS
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001107843-25-000017
Chunk: 207

Company: QUALYS, INC.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 8
Chunk 207
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able securities of $639.9 million, including $152.5 million of cash held outside of the United States. The following summary of cash flows for the periods indicated has been derived from our condensed consolidated financial statements included elsewhere in this report:

Three Months EndedMarch 31,20252024(in thousands)Net cash provided by operating activities$109,588 $85,505 Net cash provided by (used in) investing activities(7,031)8,072 Net cash used in financing activities(44,068)(24,959)Net increase in cash, cash equivalents and restricted cash$58,489 $68,618 

Operating Activities

During the three months ended March 31, 2025, we generated $65.3 million of cash from our net income, as adjusted for non-cash items mainly related to stock-based compensation expense, depreciation and amortization expense and deferred taxes, as compared to $58.2 million during the three months ended March 31, 2024. In addition, we also generated $44.3 million of cash from changes in working capital during the three months ended March 31, 2025, of which $36.0 million was related to the net decrease in accounts receivable and deferred revenue due to the timing of collections and billings, and a $8.3 million increase in payables and accrued liabilities primarily driven by the timing of payments. During the three months ended March 31, 2024, we generated $27.3 million of cash from changes in working capital, of which $28.9 million was attributed to a decrease in accounts receivable due to the timing of collections and $8.6 million increase in payables and accrued liabilities, partially offset by a $10.1 million increase in prepaid expenses primarily driven by the timing of payments.

Investing Activities

During the three months ended March 31, 2025, we used $5.0 million of cash for purchases of marketable securities net of sales and maturities, and used $2.0 million of cash in capital expenditures mainly related to purchases of computer 

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equipment to support our growth and development and leasehold improvements for expansion of our office spaces, as compared to $10.1 million of cash generated from sales and maturities of marketable securities net of purchases, partially offset by $2.1 million of cash used in capital expenditures mainly related to purchases of computer equipment to support our growth and development during the three months ended