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QLYSBullishEarningsShort Term

High materiality9/10

Qualys Announces Second Quarter 2026 Financial Results

StockNews.AIAug 4, 4:05 PM EDT1 source

Trading thesisImportance 9/10

Bullish near-term: guidance raise and federal CNAPP momentum likely drive 1–3 quarter upside for QLYS.

AI summary

What happened and why it matters

Qualys reported Q2 revenue of $182.2M, up 11% year over year, and raised 2026 revenue guidance to $732–$738M. Key metrics improved: GAAP EPS of $1.50 and non-GAAP EPS of $1.98; Adjusted EBITDA of $83.8M; and operating cash flow of $59.6M. FedRAMP High Authorization for TotalCloud expands CNAPP to federal use, while AI-native risk and ETM momentum, plus a Converge alliance, underscore a larger total addressable market in 2026–2027.

Guidance uplift: 2026 revenue target $732–$738M and Q3 guide of $185.5–$187.5M.
FedRAMP High for TotalCloud CNAPP broadens federal revenue opportunities.
Strong cash flow (OCF $59.6M; 33% of revenue) supports potential capital returns.
AI/CNAPP partnerships and ETM expansion imply higher long-run TAM.

Sentiment rationale

Raised 2026 revenue guidance, solid Q2 profitability, meaningful Federal CNAPP tailwinds via FedRAMP, and insurance-tailwind potential from Converge collaboration hint at durable upside; history shows software/security peers react positively to guidance upgrades and federal program wins.

Key facts

01
Q2 revenue rose 11% YoY to $182.2M; 2026 revenue guidance raised to $732-738M.
02
GAAP EPS $1.50; non-GAAP EPS $1.98; Adjusted EBITDA $83.8M; operating cash flow $59.6M.
03
TotalCloud earned FedRAMP High Authorization, extending CNAPP to federal agencies via DEA.
04
AI for security and ETM adoption highlighted; growing federal pipeline and partnerships.
05
Converge collaboration may lower cyber insurance premiums for Qualys ETM customers.

Earnings

Earnings; Qualys leverages strong Q2 results to raise full-year guidance, while advancing CNAPP in federal markets and AI-enabled risk management, fitting into a high-margin, growth-oriented cloud security category.