Shares of cybersecurity firm Qualys Inc. (NASDAQ: QLYS) surged over 19% in the past 24 hours after the company reported better-than-expected third-quarter 2024 results and raised its full-year guidance.
For the third quarter, Qualys posted revenue of $153.9 million, an 8% year-over-year increase and above analysts' expectations of $150.7 million. Adjusted earnings per share (EPS) came in at $1.56, comfortably beating 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.
Qualys attributed the 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.
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