Qualys Raises 2026 Outlook After 11% Revenue Growth

The Tip Desk · November 12, 2026 · 3 min read

Third-quarter revenue reached $188.0 million, and the company lifted full-year 2026 revenue guidance to $736.9 million to $738.9 million.

Qualys, Inc. (QLYS), a cloud-native cyber risk management company, reported third-quarter revenue of $188.0 million, up 11% from $169.9 million a year earlier, and raised its full-year 2026 revenue outlook.

The 11% year-over-year increase matched the second-quarter pace after 10% growth in the first quarter. Management now expects full-year 2026 revenue of $736.9 million to $738.9 million, representing 10% growth over 2025, compared with the prior range of $732.0 million to $738.0 million.

GAAP net income was $57.2 million, or $1.62 a share, up 14% from $50.3 million, or $1.39 a share, a year earlier. Non-GAAP net income was $74.8 million, or $2.12 a share. Adjusted EBITDA was $89.9 million.

GAAP gross profit rose 10% to $156.7 million. GAAP gross margin was 83%. Non-GAAP gross profit was $159.3 million, with non-GAAP gross margin at 85%. GAAP operating income increased 11% to $66.3 million, or 35% of revenue. Non-GAAP operating income was $87.1 million, or 46% of revenue. Adjusted EBITDA margin was 48%.

Operating cash flow rose 13% to $101.8 million, or 54% of revenue. Calculated current billings were $211.9 million, up 14% from a year earlier. Current deferred revenue stood at $412.0 million at September 30.

President and CEO Sumedh Thakar said the company delivered another quarter of strong revenue growth and profitability, and pointed to increasing adoption of the AI-native Risk Operations Center, driven by a partner-first strategy, as a sign of demand for a vendor-neutral platform that fixes security issues rather than only reporting them.

The company said it introduced InstaScan, powered by Agent Insta in Enterprise TruRisk Management, for scanless vulnerability detection within minutes of advisory disclosure. It also advanced TruRisk Eliminate with AI-powered Patch Reliability Scoring, wave-based autonomous remediation, and peer-to-peer patching, and expanded TotalAI with governance features for shadow AI, abnormal model behavior, and audit-ready evidence.

For the fourth quarter of 2026, management expects revenue of $191.0 million to $193.0 million, representing 9% to 10% growth over the same quarter in 2025. GAAP net income is expected at $1.57 to $1.64 a share, assuming a 21% effective tax rate. Non-GAAP net income is expected at $2.05 to $2.12 a share, assuming a 20% non-GAAP tax rate. Those per-share estimates assume about 35.5 million weighted average diluted shares.

Full-year GAAP diluted earnings are now expected at $6.08 to $6.15 a share, up from the prior range of $5.76 to $5.90, assuming a 22% tax rate. Non-GAAP diluted earnings are now expected at $8.07 to $8.14 a share, up from $7.74 to $7.88, assuming a 20% non-GAAP tax rate.

Cash and cash equivalents were $357.2 million at September 30, 2026. Short-term marketable securities were $163.6 million and long-term marketable securities $287.3 million.