Qualys, Inc

Qualys, Inc. delivered a solid result and managed an all-around beat last quarter, with a 13% revenue growth, reaching $142 million. Channel partner growth outpaced direct growth at 17% versus 10%, with channel revenue contributing 43%. The US witnessed a 14% growth, outpacing the international business, which grew by 11%. The revenue mix between the US and international markets remained consistent at 60% and 40%, respectively. While Q3 indicated stabilization in the selling environment and a customer commitment to prioritizing security within IT budgets, ongoing budget scrutiny is expected. A significant highlight was the steady adoption of Vulnerability Management, Detection, and Response (VMDR), now deployed by 54% of global customers. The TotalCloud CNAPP solution saw significant traction, earning accolades as a technology leader in cloud security. Qualys boasted over 31 million agents supporting cloud workloads, positioning itself as a pioneer in Cloud Workload Protection, Security Posture Management, and Container Security. The Q3 landscape was marked by strategic partnerships with global managed service providers and expanded relationships with cloud providers. Customer spending exceeding $500,000 in Q3 grew by 15% from the previous year, a testament to Qualys’ perceived role as a risk management platform.