Company: QLYS
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001107843-25-000031
Chunk: 189

Company: QUALYS, INC.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 8
Chunk 189
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8 million were recognized during the three months ended June 30, 2025 and 2024, respectively, and $254.1 million and $229.6 million were recognized during the six months ended June 30, 2025 and 2024, respectively, which amounts were included in the deferred revenue balances of $395.7 million and $364.9 million as of December 31, 2024 and 2023, respectively. 

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The Company's payment terms vary by the type and location of its customers. The term between invoicing and when payment is due is not significant. In certain circumstances, based on the credit quality of the customer, the Company requires payment before the products or services are delivered to the customer.The following table sets forth the expected revenue from all remaining performance obligations as of June 30, 2025:(in thousands)2025 (remaining six months)$141,886 2026187,212 202790,501 202811,715 20291,648 2030 and thereafter281 Total$433,243 Revenues allocated to remaining performance obligations represents the transaction price of noncancelable orders for which service has not been performed, which include deferred revenue and the amounts that will be invoiced and recognized as revenues in future periods from open contracts and excludes unexercised renewals. The Company applied the short-term contract exemption to exclude the remaining performance obligations that are part of a contract that has an original expected duration of one year or less.From time to time, the Company enters into contracts with customers that extend beyond one year, with certain of its customers electing to pay for more than one year of services upon contract execution. The Company concluded that these contracts did not contain a financing component.Revenues by sales channel are as follows:Three Months EndedSix Months EndedJune 30,June 30,2025202420252024(in thousands)(in thousands)Direct$83,854 $80,303 $165,582 $160,429 Partner80,208 68,405 158,379 134,084 Total$164,062 $148,708 $323,961 $294,513 The Company utilizes partners to enable and accelerate the adoption of its cloud platform by increasing its distribution capabilities and market awareness of its cloud platform as well as by targeting geographic regions outside the reach of its direct sales force. The Company's channel partners maintain relationships with their customers throughout the territories in which they operate and