Cloud Stocks: Qualys Focuses On SaaS App Security

According to a recent Markets and Markets report, the global security and vulnerability management market is expected to grow 5% annually to $15.5 billion by 2025 from an estimated $12.5 billion in 2020. Cloud services security provider Qualys (Nasdaq: QLYS) recently announced its fourth-quarter results that outpaced market expectations. Qualys is building on its partnerships to continue to drive growth.

Qualys’ Financials

For the fourth quarter of the year, Qualys’s revenues grew 12% to $94.8 million, surpassing the market’s estimates by 0.21%. Net income of $23.8 million improved from $20.7 million a year ago. On an adjusted basis, EPS was $0.71 compared with $0.62 a year ago and in line with the market’s estimates.

For the year, revenues grew 13% to $363 million. Net income was $91.6 million, or $2.24 per share, up from $69.3 million, or $1.68 per share a year ago.

For the first quarter, Qualys forecast revenues of $94.8-$95.4 million and adjusted earnings of $0.37-$0.39 a share. The market was looking for revenues of $97.17 million with an EPS of $0.69. Qualys expects to end the year with revenues of $399-$402 million and EPS of $1.39-$1.44. The market was looking for revenues of $409 million and an EPS of $2.99 for the year.

Qualys’s Product Expansion

During the quarter, Qualys announced an expanded partnership with Google Cloud. The integration will allow both security and DevOps teams to create automated security scans of container artifacts in its now generally available Artifact Registry. The product, Qualys Container Security, scans and assesses images to look for software inventory and vulnerabilities as well as misconfigurations. It will also be able to provide a unified view throughout multiple Google Cloud regions. Customers will be able to leverage this security posture of the images to automate security workflows such as the container deployments in Google Cloud Build as well as integrate with DevOps ticketing systems.

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Disclosure: All investors should make their own assessments based on their own research, informed interpretations and risk appetite. This article expresses my own opinions based on my own ...

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