Qualys (QLYS) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue grew 11% year-over-year to $182.2 million, driven by innovation in AI-native risk management, strong demand from both existing and new customers, and a balanced mix of direct and partner channels.

• Adjusted EBITDA for Q2 2026 was $83.8 million (46% margin), reflecting operational efficiency and profitability.

• Net income for Q2 2026 was $52.4 million (29% margin), with non-GAAP net income at $69.2 million.

• Customer base spending $500,000+ grew to 229, with notable upsells and platform consolidations among large enterprises and healthcare organizations.

• Major new AI-powered capabilities launched, including InstaScan, Agent Val, Agent Sarah, and FedRAMP High Authorization for TotalCloud.

Financial highlights

• Q2 2026 revenues grew 11% year-over-year to $182.2 million; six-month revenue was $357.8 million (up 10%).

• Adjusted EBITDA margin was 46% for Q2 2026 and 47% for the first half of 2026.

• Net income margin reached 29% in Q2 2026; EPS for Q2 2026 was $1.98 per diluted share (non-GAAP) and $1.50 (GAAP).

• Free cash flow margin was 42% for Q2 2026 YTD, with $149.5 million in non-GAAP free cash flow.

• Channel partner revenues increased 22%, now representing 54% of total revenues.

Outlook and guidance

• Full-year 2026 revenue guidance raised to $732–$738 million (9–10% growth), with Q3 2026 revenue expected at $185.5–$187.5 million.

• Full-year EBITDA margin expected in the mid-40s; EPS guidance raised to $7.74–$7.88 (non-GAAP) and $5.76–$5.90 (GAAP).

• Capital expenditures for 2026 projected at $8–$12 million.

• Management expects continued revenue growth from both new and existing customers, supported by strong liquidity and cash flow.