Qualys (NASDAQ: QLYS) reported Q1 EPS of $0.74, $0.06 better than the analyst estimate of $0.68. Revenue for the quarter came in at $96.76 million versus the consensus estimate of $95.19 million.

"In the quarter, we continued to experience strong adoption of our Vulnerability Management, Detection and Response (VMDR®) application with paid Cloud Agent subscriptions growing approximately 58% year-over-year to 61 million deployed. As organizations continue to look for solutions to not only identify risk but also mitigate it quickly, we believe that VMDR is taking detection and response actions to the next level while setting a gold standard in the industry for security and compliance solutions. Given the power of VMDR to continuously detect vulnerabilities and misconfigurations across the entire global IT environment and respond in real time to remediate vulnerable or compromised assets from a single platform, adoption of our VMDR application continues to be a strategically important driver to our long-term growth," said Sumedh Thakar, CEO of Qualys. "We are pleased with our strategic direction and remain confident that our innovative solutions, compelling value proposition, and strong market leadership position will lead to long-term value for our shareholders."

GUIDANCE:

Qualys sees Q2 2021 EPS of $0.67-$0.69, versus the consensus of $0.65. Qualys sees Q2 2021 revenue of $98.6-99.2 million, versus the consensus of $97.89 million.

Qualys sees FY2021 EPS of $2.67-$2.72, versus the consensus of $2.65. Qualys sees FY2021 revenue of $402.5-404.5 million, versus the consensus of $400.38 million.

• Based on information as of today, May 5, 2021, Qualys is issuing the following financial guidance for the second quarter and full year fiscal 2021. The Company emphasizes that the guidance is subject to various important cautionary factors referenced in the section entitled "Legal Notice Regarding Forward-Looking Statements" below, including risks and uncertainties associated with the COVID-19 pandemic.
• Second Quarter 2021 Guidance: Management expects revenues for the second quarter of 2021 to be in the range of $98.6 million to $99.2 million, representing 11% to 12% growth over the same quarter in 2020. GAAP net income per diluted share is expected to be in the range of $0.37 to $0.39, which assumes an effective income tax rate of 31%. Non-GAAP net income per diluted share is expected to be in the range of $0.67 to $0.69, which assumes a non-GAAP effective income tax rate of 21%. Second quarter 2021 net income per diluted share estimates are based on approximately 40.3 million weighted average diluted shares outstanding for the quarter.
• Full Year 2021 Guidance: Management now expects revenues for the full year of 2021 to be in the range of $402.5 million to $404.5 million, representing 11% growth over 2020, up from the previous guidance range of $399.0 million to $402.0 million. GAAP net income per diluted share is expected to be in the range of $1.06 to $1.11, down from the previous guidance range of $1.39 to $1.44. This assumes an effective income tax rate of 28%, up from the previous assumption of 26%. Non-GAAP net income per diluted share is expected to be in the range of $2.67 to $2.72, up from the previous guidance range of $2.60 to $2.65. This assumes a non-GAAP effective income tax rate of 21%. Full year 2021 net income per diluted share estimates are based on approximately 40.4 million weighted average diluted shares outstanding.

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