Company: QLYS
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001107843-25-000038
Chunk: 224

Company: QUALYS, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 8
Chunk 224
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 5% was from new customers added in the three months ended September 30, 2025. Of the total increase of $16.0 million, 40% was from customers in the United States and the remaining 60% was from customers in foreign countries. Of the total increase of $16.0 million, 26% was from direct customers and the remaining 74% was from partners. In the three months ended September 30, 2025, 50% of total revenue was direct and the remaining 50% was from partners.

Revenues increased by $45.5 million for the nine months ended September 30, 2025 compared to the same period in 2024, driven by increased demand for our subscription services by our end customers. Of the total increase of $45.5 million in revenues, 83% was from revenues from customers existing prior to January 1, 2025, and the remaining 17% was from new customers added in the nine months ended September 30, 2025. Of the total increase of $45.5 million, 37% was from customers in the United States and the remaining 63% was from customers in foreign countries. Of the total increase of $45.5 million, 20% was from direct customers and the remaining 80% was from partners. In the nine months ended September 30, 2025, 51% of total revenue was direct and the remaining 49% was from partners.

With our strong market position driving further demand for our solutions, we expect revenue growth from new and existing customers to continue.

32

Cost of Revenues

Three Months EndedSeptember 30,ChangeNine Months EndedSeptember 30,Change20252024$%20252024$%(in thousands, except percentages)(in thousands, except percentages)Cost of revenues$27,798 $28,832 $(1,034)(4%)$85,601 $82,445 $3,156 4%

Cost of revenues decreased by $1.0 million for the three months ended September 30, 2025 compared to the same period in 2024, primarily due to a decrease in shared cloud platform cost of $1.4 million driven by the completion of our effort to migrate certain cloud platform footprint to a lower cost region to optimize infrastructure efficiency, a decrease in depreciation and amortization expense of $0.9 million resulting from certain of our assets that became fully depreciated or amortized