Company: QLYS
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001107843-25-000017
Chunk: 169

Company: QUALYS, INC.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 169
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 Expenses

Three Months EndedMarch 31,Change20252024$%(in thousands, except percentages)Research and development$29,154 $27,530 $1,624 6 %

Research and development expenses increased by $1.6 million for the three months ended March 31, 2025 compared to the same period in 2024, primarily due to an increase in personnel costs, including stock-based compensation, of $1.1 million, driven by additional employees hired to support the growth of our business, and an increase in shared cloud platform cost of $0.5 million.

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Sales and Marketing Expenses

Three Months EndedMarch 31,Change20252024$%(in thousands, except percentages)Sales and marketing$32,660 $29,408 $3,252 11 %

Sales and marketing expenses increased by $3.3 million for the three months ended March 31, 2025 compared to the same period in 2024, primarily due to an increase in marketing expenses related to advertising of $1.3 million and trade shows of $1.0 million. The remaining increase is attributable to an increase in personnel costs, driven by increased headcount and an increase in sales commissions.

General and Administrative Expenses

Three Months EndedMarch 31,Change20252024$%(in thousands, except percentages)General and administrative$17,404 $16,908 $496 3 %

General and administrative expenses increased by $0.5 million for the three months ended March 31, 2025 compared to the same period in 2024, primarily due to an increase in personnel costs, including stock-based compensation, of $0.7 million, driven by increased headcount, partially offset by a decrease in legal fees of $0.2 million.

Total other income, net

Three Months EndedMarch 31,Change20252024$%(in thousands, except percentages)Total other income, net$6,552 $4,724 $1,828 39 %

Total other income, net increased by $1.8 million for the three months ended March 31, 2025, compared to the same periods in 2024, primarily due to favorable changes in foreign currency of $1.7 million, and an increase in interest income of $0.1 million.

Income tax provision

Three Months EndedMarch 31,Change20252024$%(in thousands, except percentages)Income tax provision$10