The combination of an accelerating billings growth rate (16% vs 8% last year), raised full-year guidance, and FedRAMP High authorization (opening federal sales) creates a strong positive catalyst. Monitor the Q3 earnings call for updates on federal pipeline conversion and QFlex adoption — both cited as promising growth drivers by management.
Price Chart
Executive Summary
Qualys reported Q2 2026 revenue of $182.2M (+11% YoY), GAAP EPS of $1.50, and non-GAAP EPS of $1.98, beating consensus estimates of $1.78. The company raised its full-year 2026 revenue guidance to $732.0-$738.0M (from $721.0-$727.0M) and raised GAAP EPS guidance to $5.76-$5.90. Calculated current billings grew 16% YoY, accelerating from 8% in the prior-year quarter, signaling improving demand momentum.
Key Financial Metrics
Key Facts
- Q2 2026 revenue of $182.2M, up 11% YoY from $164.1M
- GAAP EPS of $1.50, up 16% YoY from $1.29; non-GAAP EPS of $1.98, up 18% YoY from $1.68
- Full-year 2026 revenue guidance raised to $732.0-$738.0M from $721.0-$727.0M
- Full-year 2026 GAAP EPS guidance raised to $5.76-$5.90 from $5.40-$5.61
- Calculated current billings of $176.5M, up 16% YoY, accelerating from 8% in Q2 2025
- Operating cash flow of $59.6M, up 77% YoY from $33.8M
- GAAP operating margin expanded to 34% from 31% YoY
- TotalCloud achieved FedRAMP High Authorization, opening federal market opportunity
Financial Impact
Revenue beat consensus by ~2% ($182.2M vs $178.7M est); non-GAAP EPS beat by ~11% ($1.98 vs $1.78 est); full-year revenue guidance raised by $11M at midpoint
Risk Factors
- Revenue growth decelerating to 9-10% in H2 2026 per guidance, down from 11% in Q2
- Operating cash flow as a percentage of revenue declined to 33% from 54% in Q1 2026 (though up from 21% YoY)
- Heavy insider selling (7 sells totaling $265K in last 30 days) may signal near-term caution by executives
- Stock buybacks of $131.4M YTD are reducing share count but also consuming cash that could be deployed for growth
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001107843-26-000034 |
| Document: qlys-20260804.htm | 0001107843-26-000034 |
| Document: 0001107843-26-000034-index-headers.html | 0001107843-26-000034 |
| Document: 0001107843-26-000034-index.html | 0001107843-26-000034 |
| Document: 0001107843-26-000034.txt | 0001107843-26-000034 |
| 8-K Data (Synthetic) | 0001107843-26-000034 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 5d ago | Insider Cluster | $208.20 | awaiting T+20 | — | $225.15 (+8.14%) |
Oct 21, 2026 5d ago | Institutional Cluster | $208.20 | awaiting T+20 | — | $225.15 (+8.14%) |
Sep 3, 2026 7w ago | Insider Cluster | $171.65 $198.68 | ▲ +15.75% | ▲ +15.14% | $225.15 (+31.17%) |
Aug 21, 2026 9w ago | Insider Cluster | $178.46 $183.32 | ▲ +2.72% | ▲ +1.43% | $225.15 (+26.16%) |
Aug 4, 2026 11w ago | 8-K | $183.25 $170.83 | ▼ −6.78% | ▼ −6.18% | $225.15 (+22.86%) |
Jul 21, 2026 13w ago | Insider Cluster | $140.23 $186.68 | ▲ +33.12% | ▲ +30.23% | $225.15 (+60.56%) |
Jul 21, 2026 13w ago | Press Release | $143.78 $187.98 | ▲ +30.74% | ▲ +28.18% | $225.15 (+56.59%) |
Jul 6, 2026 16w ago | Insider Cluster | $157.55 $154.89 | ▼ −1.69% | ▼ −3.02% | $225.15 (+42.91%) |
Jun 30, 2026 16w ago | Insider Cluster | $143.44 $135.13 | ▼ −5.79% | ▼ −3.61% | $225.15 (+56.96%) |
Jun 29, 2026 17w ago | Insider Cluster | $137.49 $134.79 | ▼ −1.96% | ▼ −0.94% | $225.15 (+63.76%) |
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