Q3 2024 Qualys Inc Earnings Call Transcript
Key Points
- Qualys Inc (QLYS) reported an 8% revenue growth to $153.9 million in Q3 2024, with channel contributions increasing to 47% of total revenues.
- The company launched the Enterprise Truist Management Solution, a cloud-based risk operation center, which consolidates data from multiple sources for comprehensive risk management.
- Qualys Inc (QLYS) achieved a significant win with a large federal government agency, displacing five existing vendors in a seven-figure deployment.
- The company's Total Cloud CNAP solution saw a mid-six figure booking upsell with a Global 200 financial services company, highlighting its scalability and integration capabilities.
- Qualys Inc (QLYS) maintained a strong net dollar expansion rate of 103%, indicating successful upsell performance and customer retention.
- Despite revenue growth, the adjusted EBITDA margin decreased to 45% from 48% a year ago, indicating increased operating expenses.
- The company anticipates ongoing budget scrutiny and a lighter new business pipeline for Q4 2024, which may impact future growth.
- Free cash flow margin dropped to 37% from 64% in the prior year, reflecting increased capital expenditures and share repurchases.
- Qualys Inc (QLYS) faces challenges in the federal sector due to the complexity and lumpiness of government contracts.
- The company noted that current billings growth was higher than bookings growth, indicating potential fluctuations and lumpiness in revenue recognition.
Ladies and gentlemen, thank you for standing by. Welcome to Qualys third-quarter 2024 investor call. (Operator Instructions) Please be advised that today's conference is being recorded.
I would like now to turn the conference over to Blair King, Investor Relations. Sir, please go ahead.
Thank you, Michelle. Good afternoon and welcome to Qualys' third quarter 2024 earnings call. Joining me today to discuss our results are Samantha Carr, our President and CEO, and Jimmy Kim, our CFO. Before we get started, I would like to remind you that our remarks today will include forward-looking statements that generally relate to future events or our future financial or operating performance. Actual results may differ materially from these statements. Factors that could cause results to differ materially are set forth in today's press release and our filings with the SEC, including our latest Form 10-Q and 10-K. Many forward-looking statements that we make on this call are based
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
