Qualys (QLYS) FY2020 results: revenue $363 million, up 12.9% on the year
Qualys, Inc. (QLYS) reported revenue of $363 million for fiscal 2020, the year ended 31 December 2020, up 12.9% on the year before. Net income was $92 million, up 32.1%, and diluted earnings per share $2.24. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2021.
Revenue
$363 million
+12.9% on the year
FY2013FY2020
Operating margin
26.6%
22.5% a year earlier
FY2013FY2020
Net income
$92 million
+32.1% on the year
FY2013FY2020
Diluted EPS
$2.24
+33.3% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
363
322
279
+12.9%
Cost of revenue
79.2
69.5
66.2
+14.0%
Gross profit
284
252
213
+12.6%
Gross margin
78.2%
78.4%
76.3%
Research and development
72.5
68.2
53.3
+6.3%
Operating income
96.7
72.3
50.4
+33.8%
Operating margin
26.6%
22.5%
18.1%
Interest expense
0.0
0.1
0.2
-91.5%
Pre-tax income
102
80.0
55.5
+27.6%
Income tax
10.5
10.6
-1.8
-1.7%
Effective tax rate
10.3%
13.3%
-3.3%
Net income
91.6
69.3
57.3
+32.1%
Net margin
25.2%
21.6%
20.5%
Diluted EPS
$2.24
$1.68
$1.37
+33.3%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
180
161
125
+12.1%
Capital expenditure
30.0
27.6
22.8
+8.9%
Free cash flow
150
133
103
+12.8%
Free cash flow margin
41.3%
41.4%
36.8%
Cash from investing
-80.9
-35.0
-93.5
Cash from financing
-113
-79.0
-77.5
Depreciation and amortisation
32.8
31.2
28.9
+5.3%
Share-based compensation
40.0
34.9
30.1
+14.7%
Buybacks
127
86.4
85.0
+46.6%
Diluted shares, weighted
41m
41m
42m
-1.3%
Shares outstanding at period end
39m
39m
39m
+0.6%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
404
387
358
+4.6%
Debt
0.0
0.0
0.0
Operating lease liabilities
45.7
44.0
0.0
+3.8%
Finance lease liabilities
0.0
0.1
n/a
Other liabilities
287
245
228
+17.1%
Total liabilities and equity
737
676
586
+9.1%
Fixed assets
64.8
60.6
61.4
+7.1%
Goodwill
7.4
7.4
7.2
0.0%
Intangible assets
12.0
16.8
22.0
-28.5%
Investments
380
331
325
+15.0%
Cash and equivalents
74.1
87.6
41.0
-15.3%
Receivables
100
78.0
75.8
+28.4%
Other assets
97.9
94.4
53.3
+3.7%
Total assets
737
676
586
+9.1%
10-K for the year ended 31 December 2020, filed 22 February 2021: the filing.