Shares of Qualys Inc. (NASDAQ: QLYS), a leading provider of cloud-based cybersecurity and compliance solutions, surged over 22% in pre-market trading on November 6, 2024, after the company reported impressive third-quarter results and raised its guidance for the full year 2024.

Q3 Results and Guidance: For the third quarter ended September 30, 2024, Qualys reported revenue of $153.9 million, an 8% increase compared to the same period last year, surpassing analysts' expectations of $150.7 million. The company's adjusted earnings per share (EPS) came in at $1.56, significantly higher than the consensus estimate of $1.33.

Driven by the strong quarterly performance, Qualys raised its full-year 2024 revenue guidance to a range of $602.9 million to $605.9 million, up from the previous guidance of $597.5 million to $601.5 million. The company also increased its adjusted EPS guidance for fiscal 2024 to $5.81 to $5.91, compared to the earlier range of $5.46 to $5.62.

Company Strategies and Initiatives: Qualys attributed its solid results to its continued focus on product innovation and enhancing its cybersecurity solutions to meet evolving customer needs. During the quarter, the company launched several new offerings, including the Enterprise TruRisk Management solution, TruRisk Eliminate, and Qualys TotalAI, aimed at addressing modern security challenges and consolidating security tools for customers.

Market Reaction: Investors reacted positively to Qualys' strong performance and raised guidance, with the company's shares surging 22.44% in pre-market trading on November 6, 2024. Analysts praised the company's execution and its ability to capitalize on the growing demand for cybersecurity solutions amidst increasing cyber threats and digital transformation initiatives.