Qualys, Inc. (NASDAQ: QLYS) saw its shares rise 19.15% in after-hours trading to $152.79. This was after the company’s strong third-quarter results were released. The impressive accomplishment establishes QLYS as a leading technology leader in the industry and highlights the company’s dedication to cybersecurity innovation and good client outcomes.
Financial Results and Profits
Qualys (QLYS) announced substantial financial growth in Q3, with $153.9 million in sales. Its net income was $46.2 million under GAAP and $58.0 million under non-GAAP, which translates to $1.24 and $1.56 per diluted share, respectively. With an adjusted EBITDA of $69.7 million, QLYS’ competitive edge in the cybersecurity market has grown as a result of its sustained emphasis on profitability and strategic technological investment.
New Solutions Enhance Security Capabilities
Qualys expanded its product offerings this quarter with the launch of the Enterprise TruRisk Management solution, TruRisk Eliminate, and Qualys TotalAI. TruRisk Eliminate, a remediation solution, goes beyond traditional patching by introducing patchless patching, targeted isolation, and advanced mitigation strategies. These capabilities allow organizations to reduce risks effectively, addressing complex modern security challenges while streamlining operations.
Additionally, the company introduced Qualys TotalAI, designed to secure generative AI and large language model (LLM) applications by detecting data leaks, injection risks, and model theft. This strategic move highlights QLYS’ forward-thinking approach, addressing the unique security needs of emerging AI applications.
Industry Recognition and Product Enhancements
Qualys’ solutions continue to receive industry acclaim. Its Vulnerability Management, Detection, and Response (VMDR) solution was named a leader in the 2024 GigaOm Radar Report for Continuous Vulnerability Management for the fourth consecutive year. The report praised VMDR for its comprehensive, risk-based approach.
Additionally, Gartner recognized its TotalCloud in its July 2024 Market Guide for Cloud Native Application Protection Platforms, and Forrester ranked its CyberSecurity Asset Management among top performers in the Wave for Attack Surface Management.
To support its growing customer base, Qualys (QLYS) also updated its Web Application Security suite, adding context-aware TruRisk prioritization, advanced API security features, and a new user interface with guided workflows, aimed at simplifying the protection of web applications and APIs in complex digital landscapes.
