Qualys reported FY2025 revenue of $669.1 million and Q1 2026 revenue of $175.6 million. The thesis depends on cloud-security consolidation, subscription retention, free cash flow quality and evidence that the platform can keep expanding beyond vulnerability management.
Qualys: the security scanner with SaaS margins and cloud-platform proof still ahead
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Thesis summary
Qualys reported FY2025 revenue of $669.1 million and Q1 2026 revenue of $175.6 million. The thesis depends on cloud-security consolidation, subscription retention, free cash flow quality and evidence that the platform can keep expanding beyond vulnerability management.
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