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Qualys . Qualys Announces First Quarter 2021 Financial Results Revenue Growth of 12 % Year - Over - Year GAAP EPS : $ 0.01 ; Non - GAAP EPS : $ 0.74 Raises 2021 Revenue Guidance to $ 402.5- $ 404.5 million FOSTER CITY , Calif . , - May 5 , 2021 – Qualys , Inc. ( NASDAQ : QLYS ) , a pioneer and leading provider of disruptive cloud - based IT , security and compliance solutions , today announced financial results for the first quarter ended March 31 , 2021. For the quarter , the Company reported revenues of $ 96.8 million , net income under United States Generally Accepted Accounting Principles ( " U.S. GAAP " ) of $ 0.2 million , non - GAAP net income of $ 29.8 million , Adjusted EBITDA of $ 44.6 million , GAAP net income per diluted share of $ 0.01 , and non - GAAP net income per diluted share of $ 0.74 . " In the quarter , we continued to experience strong adoption of our Vulnerability Management , Detection and Response ( VMDRⓇ ) application with paid Cloud Agent subscriptions growi 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 . " First Quarter 2021 Financial Highlights Revenues : Revenues for the first quarter 2021 increased by 12 % to $ 96.8 million compared to $ 86.3 million for the same quarter in 2020 . Gross Profit : GAAP gross profit for the first quarter of 2021 increased by 11 % to $ 75.1 million compared to $ 67.8 million for the same quarter in 2020. GAAP gross margin was 78 % for the first quarter of 2021 compared to 79 % for the same quarter in 2020. Non - GAAP gross profit for the first quarter of 2021 increased by 11 % to $ 77.6 million compared to $ 69.9 million for the same quarter in 2020. Non - GAAP gross margin was 80 % for the first quarter of 2021 compared to 81 % for the same quarter in 2020 . Operating Income ( Loss ) : GAAP operating loss for the first quarter of 2021 was $ 2.7 million compared to GAAP operating income of $ 20.4 million for the same quarter in 2020 , which primarily reflects an increase in stock - based compensation due to the accelerated vesting of the former CEO's equity awards . As a percentage of revenues , GAAP operating income ( loss ) was negative 3 % for the first quarter of 2021 compared to 24 % for the same quarter in 2020. Non - GAAP operating income for the first quarter of 2021 increased by 16 % to $ 37.1 million compared to $ 31.9 million for the same quarter in 2020. As a percentage of revenues , non - GAAP operating income was 38 % for the first quarter of 2021 compared to 37 % for the same quarter in 2020 . Net Income : GAAP net income for the first quarter of 2021 was $ 0.2 million , or $ 0.01 per diluted share , compared to $ 18.7 million , or $ 0.46 per diluted share , for the same quarter in 2020. The decrease in GAAP net income