Qualys, Inc. reported a notable increase in financial performance for the third quarter of 2025, with revenues reaching $169.9 million, a 10% rise from $153.9 million in the same period last year. For the nine months ending September 30, 2025, total revenues amounted to $493.8 million, compared to $448.4 million for the same period in 2024. The company’s net income for the third quarter was $50.3 million, or $1.39 per diluted share, up from $46.2 million, or $1.24 per diluted share, in the prior year. The increase in revenue was primarily driven by heightened demand for Qualys' subscription services, with 95% of the revenue growth attributed to existing customers.
In terms of operational metrics, Qualys reported a net dollar expansion rate of 104% as of September 30, 2025, indicating strong customer retention and growth. The company’s customer base continues to expand, with significant contributions from both direct sales and channel partners. The U.S. market accounted for approximately 57% of total revenues, while international markets contributed the remaining 43%. The company also noted a slight increase in its employee headcount, reflecting ongoing investments in sales and marketing to support growth.
Qualys has made strategic investments in research and development, with expenses totaling $28.9 million for the third quarter, slightly up from $28.9 million in the same quarter of 2024. The company continues to focus on enhancing its cloud-based IT security and compliance solutions, which are critical in addressing the evolving cybersecurity landscape. Additionally, sales and marketing expenses increased to $35.3 million, driven by higher personnel costs and marketing initiatives aimed at expanding market reach.
The company’s balance sheet remains strong, with total assets of $1.03 billion as of September 30, 2025, compared to $973.5 million at the end of 2024. Cash and cash equivalents stood at $225.3 million, while short-term marketable securities increased to $193.3 million. Qualys has also been active in share repurchases, spending approximately $138.8 million on repurchasing shares during the nine months ended September 30, 2025, as part of its ongoing capital return strategy.
Looking ahead, Qualys anticipates continued revenue growth driven by both existing and new customers, despite potential macroeconomic challenges such as inflation and extended sales cycles. The company remains committed to investing in its platform and expanding its market presence, with a focus on maintaining its competitive edge in the cybersecurity sector.
About QUALYS, INC.
Qualys, Inc. provides cloud-based IT, security, and compliance solutions that enable organizations to discover, manage, and remediate vulnerabilities across on-premises, cloud, and hybrid environments. Its integrated platform offers asset management, vulnerability detection, risk quantification, and compliance tools, serving a global customer base including enterprises and government agencies. The company’s SaaS model emphasizes scalability, real-time visibility, and cost-effective security automation.
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