Cloud security firm Qualys reports strongest billing growth in nearly three years, driven by upsells and new product launches.
Qualys posted a 16% year-over-year increase in calculated current billings to $176.5M for the second quarter, marking its fastest growth since 2021. The surge was fueled by larger-than-expected upsells among a small group of advanced renewal customers, supported by new product activity and releases like Mythos and QFlex.
Recent launches, including ETM, CSAM, and Patch Management, have diversified Qualys’ bookings mix, reducing reliance on Vulnerability Management. Analysts remain cautious, citing potential pull-forward effects, though management insists the results reflect normal business trends.
Shares received positive analyst feedback following the results, though durability of growth remains under scrutiny.