Company: QLYS
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001107843-25-000009
Chunk: 87

Company: QUALYS, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 87
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 marketable securities and our expected cash flow generated from operations will be sufficient to fund our operations for the next twelve months and beyond. If we repatriate funds from our foreign subsidiaries, we could be subject to foreign withholding taxes.

Our material cash requirements mainly include the following contractual and other obligations:

•Our operating lease obligations to make payments under our non-cancelable lease agreements for our facilities and shared cloud platforms. We had fixed operating lease payment obligations of $59.9 million as of December 31, 2024, with $13.5 million expected to be paid within the next 12 months.

•Cash outflow for capital expenditures in 2025 is expected to be in a range of $8.0 million to $13.0 million. Our future capital requirements will depend on many factors, including our rate of revenue growth, the expansion of our sales and marketing activities, the timing, type and extent of our spending on research and development efforts, international expansion and investment in shared cloud platforms and cloud infrastructures. We may also seek to invest in or acquire complementary businesses or technologies. 

•Other non-cancelable purchase obligations related to cloud infrastructures and other service providers totaled $70.5 million, of which $39.2 million is expected to be paid within the next 12 months.

Share Repurchases

We expect to continue to use cash to repurchase shares in 2025 under our share repurchase program authorized by our board of directors on February 5, 2018. As of December 31, 2024, approximately $143.4 million remained available under our share repurchase program. Shares will be repurchased from time to time in privately negotiated transactions or on the open market in accordance with Rule 10b-18 of the Exchange Act of 1934, including pursuant to a pre-set trading plan adopted in accordance with Rule 10b5-1 under the Exchange Act. On February 6, 2025, we announced that our board of directors authorized an additional $200.0 million under the share repurchase program, increasing the total amount of authorized repurchase to $1.4 billion.

Critical Accounting Estimates

The preparation of our consolidated financial statements in accordance with U.S. GAAP requires us to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses and related disclosures. Our significant 

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accounting policies are described in Note 1 - The Company and Summary of Significant Accounting Policies in the accompanying notes to the consolidated financial statements