Qualys (QLYS) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue grew 11% year-over-year to $182.2 million, driven by AI-native risk management, strong demand from both existing and new customers, and increased urgency in cybersecurity due to AI-accelerated threats.

• Adjusted EBITDA for Q2 2026 was $83.8 million (46% margin), with net income of $52.4 million (29% margin), reflecting continued operational efficiency and profitability.

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

• Major new AI-native platform capabilities launched, including InstaScan, TotalAI 2.0, and FedRAMP High Authorization for TotalCloud, alongside strategic AI security collaborations.

• Leadership changes included new appointments for Chief Product Solutions Officer and Chief Information Security Officer to support continuity and growth.

Financial highlights

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

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

• Net income for Q2 2026 was $52.4 million, with a net margin of 29%.

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

• Channel partner revenue rose 22%, now representing 54% of total revenue, up from 49% last year.

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 a strong market position.