Qualys Raises 2026 Outlook After Faster Revenue Growth

The Tip Desk · August 5, 2026 · 3 min read

Second-quarter revenue reached $182.2 million, up 11% from a year earlier, and full-year 2026 revenue guidance moved to $732.0 million to $738.0 million.

Qualys, Inc. (QLYS), a provider of cloud-based IT, security and compliance software, reported second-quarter revenue of $182.2 million, up 11% from a year earlier, after two quarters of 10% growth.

The acceleration was the quarter’s defining turn. In the first quarter of 2026, revenue had risen 10% to $175.6 million. In the fourth quarter of 2025, growth was also 10%. The second-quarter print of $182.2 million compared with $164.1 million a year earlier.

Calculated current billings, which the company defines as revenue plus the sequential change in current deferred revenue, rose 16% year over year to $176.5 million, after 8% growth in each of the two prior quarters. Current deferred revenue stood at $388.1 million at June 30.

President and Chief Executive Officer Sumedh Thakar said the company continued to execute well, pointing to AI for security and security for AI, adoption of an AI-native Risk Operations Center powered by Enterprise TruRisk Management, a growing federal pipeline, partner-led execution, and early QFlex engagement. He said those items reinforced demand for a unified risk-management platform and bolstered confidence in reaccelerating long-term growth.

GAAP gross profit was $151.9 million, with GAAP gross margin at 83%. Non-GAAP gross profit was $154.5 million and non-GAAP gross margin was 85%. GAAP operating income rose 20% to $61.9 million, or 34% of revenue. Non-GAAP operating income was $81.4 million, or 45% of revenue.

GAAP net income was $52.4 million, or $1.50 a share, with GAAP net margin at 29%. Non-GAAP net income was $69.2 million, or $1.98 a share, with non-GAAP net margin at 38%. Adjusted EBITDA was $83.8 million, or 46% of revenue.

Operating cash flow for the quarter rose 77% to $59.6 million, or 33% of revenue.

On the business side, TotalCloud achieved FedRAMP High Authorization sponsored by the U.S. Drug Enforcement Administration, extending the Qualys Government Platform to include cloud-native application protection platform capabilities and making TotalCloud available through the FedRAMP Marketplace. Qualys also collaborated with Anthropic Project Glasswing and OpenAI’s Trusted Access for Cyber program, was named a Visionary Leader in Cloud and Application Runtime Security and a Leading Technology Player in CNAPP in two Frost & Sullivan 2026 Frost Radar reports, and announced a joint offering with Converge that may let customers using Enterprise TruRisk Management qualify for reduced cyber insurance premiums.

Management now expects full-year 2026 revenue of $732.0 million to $738.0 million, representing 9% to 10% growth over 2025, compared with the previous range of $721.0 million to $727.0 million. Full-year GAAP earnings guidance is now $5.76 to $5.90 a share, up from $5.40 to $5.61, and non-GAAP earnings guidance is $7.74 to $7.88 a share, up from $7.44 to $7.65.

For the third quarter of 2026, the company expects revenue of $185.5 million to $187.5 million, or 9% to 10% growth over the same quarter in 2025. GAAP net income is expected at $1.43 to $1.50 a share and non-GAAP net income at $1.91 to $1.98 a share, assuming effective tax rates of 21% and 20%, respectively, and about 35.0 million weighted average diluted shares.

Cash and cash equivalents were $250.3 million at June 30, with short-term marketable securities of $176.0 million and long-term marketable securities of $277.2 million. Weighted average diluted shares were 35.0 million in the quarter.