Qualys, Inc. (NASDAQ:QLYS) Q2 2023 Earnings Conference Call August 3, 2023 5:00 PM ET

Company Participants

Blair King – Vice President-Investor Relations and Corporate Development

Sumedh Thakar – President and Chief Executive Officer

Joo Mi Kim – Chief Financial Officer

Conference Call Participants

Jonathan Ho – William Blair

Anushtha Mittal – RBC Capital Markets

Rudy Kessinger – D.A. Davidson

Mike Walkley – Canaccord Genuity

Yun Kim – Loop Capital Markets

Matt Saltzman – Morgan Stanley

Operator

Good day and thank you for standing by. Welcome to the Qualys Second Quarter 2023 Investor Call. [Operator Instructions] Please be advised that today’s conference is being recorded. I would now like to hand the conference over to your speaker today, Blair King. Please go ahead.

Blair King

Thanks, Victor, and good afternoon, and welcome to Qualys’ Second Quarter 2023 Earnings Call.

Joining me today to discuss our results are Sumedh Thakar, our President and CEO; and Joo Mi Kim, our CFO.

Before we get started, I would like to remind you that our remarks today will include forward-looking statements that generally relate to future events or our future financial or operating performance. Actual results may differ materially from these statements. The factors that could cause results to differ materially are set forth in today’s press release and in our filings with the SEC, including our latest Form 10-Q and 10-K. Any forward-looking statements that we make on this call are based on assumptions as of today, and we undertake no obligation to update these statements as a result of new information or future events.

During this call, we will present both GAAP and non-GAAP financial measures. A reconciliation of GAAP to non-GAAP measures is included in today’s earnings press release. And as a reminder, the press release, prepared remarks and investor presentation are all available on the Investor Relations section of our website.

So with that, I’d like to turn the call over to Sumedh.

Sumedh Thakar

Thank you, Blair. And welcome to our second quarter earnings call.

We’re pleased to announce that we delivered another quarter of healthy revenue growth and industry-leading profitability, demonstrating our increasing leadership in cybersecurity risk management and firm foundation to drive future growth. Q2 remained a tough period with customers continuing to scrutinize deals and delay project start dates. Nevertheless, the combination of today’s uneven macro and heightened threat environment is driving the need for security stack consolidation necessary for clear security outcomes, reducing vendor sprawl in customer environments and implementing a long-term security strategy based on cost and value.