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Qualys cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow$55.9M in Q2 2026 · $314M over twelve months

Operating cash flow$59.6M
Capital spending−$3.7M
Free cash flow+$55.9M
Cash / net income1.1×
Cash conversion cycle63 days

Analysis

In Q2 2026, Qualys generated $59.6M of operating cash flow and spent $3.7M on capital projects, leaving free cash flow of $55.9M. That is $23.5M more than in Q2 2025 ($32.4M).

Over the twelve months to Jun 30, 2026, operating cash flow was $321M; the largest uses were buybacks ($225M), other investing ($27.2M), taxes on employees’ shares ($23.6M); besides operations, cash came from shares issued ($18.4M); the cash balance rose by $56.3M.

Operating cash flow was $59.6M against net income of $52.4M — 1.1× profit, cash ran ahead of reported earnings. The largest differences: stock-based pay +$18.8M, deferred revenue −$6.9M, receivables −$5.1M.

Its cash conversion cycle was 63 days (receivables 69 + inventory 0 − payables 5).

Free cash flow

Qualys: free cash flow by quarterQualys: free cash flow by quarter$57.6MQ3 2024$41.9MQ4 2024$108MQ1 2025$32.4MQ2 2025$89.5MQ3 2025$74.9MQ4 2025$93.6MQ1 2026$55.9MQ2 2026
Operating cash flow less capital spending.
Qualys: operating cash flow against capital spendingQualys: operating cash flow against capital spendingOperating cash flowCapital spending$61.0M$3.4MQ3 2024$47.7M$5.8MQ4 2024$110M$2.0MQ1 2025$33.8M$1.3MQ2 2025$90.4M$901KQ3 2025$75.7M$724KQ4 2025$95.3M$1.7MQ1 2026$59.6M$3.7MQ2 2026
Latest (Q2 2026): Operating cash flow $59.6M, Capital spending $3.7M.

Capital allocation, year by year

Qualys: where the cash came from (up) and went (down), by fiscal yearQualys: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow $201MFY2021: Net borrowing −$90KFY2021: Shares issued $50.0MFY2021: Asset sales $6KFY2021: Capital spending −$24.4MFY2021: Acquisitions −$1.2MFY2021: Buybacks −$130M$251MFY2021FY2022: Operating cash flow $199MFY2022: Shares issued $28.9MFY2022: Capital spending −$15.4MFY2022: Acquisitions −$8.6MFY2022: Buybacks −$317M$228MFY2022FY2023: Operating cash flow $245MFY2023: Shares issued $51.7MFY2023: Capital spending −$8.8MFY2023: Buybacks −$171M$296MFY2023FY2024: Operating cash flow $244MFY2024: Shares issued $24.1MFY2024: Capital spending −$12.3MFY2024: Buybacks −$140M$268MFY2024FY2025: Operating cash flow $309MFY2025: Shares issued $23.0MFY2025: Capital spending −$5.0MFY2025: Buybacks −$183M$332MFY2025
Over these 5 years operating cash flow totalled $1.2B; the largest uses were buybacks ($941M) and capital spending ($65.9M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$250M
Debtnone
Net cash$250M

Qualys funds itself: free cash flow was $314M over the last twelve months, with $250M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Qualys: sources (+) and uses (−) of cash, Q2 2026Qualys: sources (+) and uses (−) of cash, Q2 2026Buybacks−$77.9MOperating cash flow$59.6MCash drawn (+) / kept (−)$29.2MOther investing−$4.3MCapital spending−$3.7MTaxes on employees’ shares−$3.5MShares issued$609K
Qualys: sources (+) and uses (−) of cash, TTM to Q2 2026Qualys: sources (+) and uses (−) of cash, TTM to Q2 2026Operating cash flow$321MBuybacks−$225MCash drawn (+) / kept (−)−$56.3MOther investing−$27.2MTaxes on employees’ shares−$23.6MShares issued$18.4MCapital spending−$7.0M

From profit to cash

Qualys: net income to operating cash flow, Q2 2026Qualys: net income to operating cash flow, Q2 2026Net income$52.4MDepreciation & amortization$3.1MStock-based pay$18.8MDeferred taxes$2.4MReceivables−$5.1MPayables−$930KAccrued liabilities−$3.8MDeferred revenue−$6.9MPrepaid and other assets−$228KOperating cash flow$59.6M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 202669—563
Q1 202678—573
Q4 202579—574
Q3 202570—663
Q2 202569—564
Q1 202581—477
Q4 202481—477
Q3 202467—463

Every quarter

QuarterOperating cash flowCapital spendingBuybacksShares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026$59.6M−$3.7M−$77.9M$609K$29.2M$55.9M
Q1 2026$95.3M−$1.7M−$53.5M$4.2M−$29.2M$93.6M
Q4 2025$75.7M−$724K−$44.7M$7.4M−$25.0M$74.9M
Q3 2025$90.4M−$901K−$49.2M$6.2M−$31.3M$89.5M
Q2 2025$33.8M−$1.3M−$49.9M$3.0M$96.7M$32.4M
Q1 2025$110M−$2.0M−$39.7M$6.4M−$58.5M$108M
Q4 2024$47.7M−$5.8M−$42.7M$9.0M$3.2M$41.9M
Q3 2024$61.0M−$3.4M−$44.2M$5.6M$45.8M$57.6M

Qualys: income statement and cash flow

Qualys, Q2 2026: revenue $182M (+11% year over year), operating margin 34.0%. The chart follows the revenue to costs, profit and cash.

Qualys: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.