“We are raising our full year non-GAAP EPS guidance to now be in the range of $3.16 to $3.18 from the prior range of $3.02 to $3.07.”

In context

“Joo Mi Kim (CFO): Thanks, Sumedh, and good afternoon. Before I start, I'd like to note that, except for revenue, all financial figures are non-GAAP and growth rates are based on comparisons to the prior year period, unless stated otherwise. We're pleased to report continued growth acceleration in LTM calculated current billings with another quarter of solid revenue growth and profitability as reflected in the following financial and operational highlights. Our quarterly revenue surpassed $100 million for the first time, growing 13% to $104.9 million. With our Q3 LTM calculated current billings growth at 16%, up from 13% in Q2, and 8% in Q1, we believe that we've crossed that growth inflection point and are on track to accelerate revenue growth. Paid Cloud Agent subscriptions increased to 70 million over the last twelve months, up from 64 million for the 12 months ended in Q2 2021. We're excited by the continued adoption of VMDR with the total customer penetration now at 32%, up from 28% in Q2 and 12% a year ago. Our scalable platform model continues to drive superior margins and generate significant cash flow. Adjusted EBITDA for the third quarter of 2021 was $50.3 million, representing a 48% margin, in line with last year. Non-GAAP EPS for the third quarter of 2021 was $0.86, up from $0.77 last year and our free cash flow for the third quarter of 2021 was $41.3 million, representing a 39% margin versus 52% last year. YTD free cash flow margin was 47% versus 44% for the same period last year. In Q3, we continued to invest the cash we generated from operations back into Qualys including $7.2 million on capital expenditures and $31.7 million to repurchase 290,000 of our outstanding shares. We're pleased to announce that our Board has authorized a $200 million increase to our share repurchase program, which allows us to mitigate our share dilution and drive shareholder value. Including $107 million remaining as of Q3, this provides approximately $307 million in share repurchase capacity. The weighted average diluted shares outstanding in Q3 was 39.9 million, down from 40.8 million last year. We remain confident in our business model and believe that we're well-positioned to drive growth given the traction we're seeing in the overall business. We are delighted to be raising our full year 2021 guidance for both revenues and earnings. We are raising the bottom and top end of our guidance range for the full year for revenue to be now in the range of $409.5 million to $410.1 million from the prior range of $406 million to $407.5 million. We are raising our full year non-GAAP EPS guidance to now be in the range of $3.16 to $3.18 from the prior range of $3.02 to $3.07. And for the fourth quarter, we expect revenue to be in the range of $108.1 million to $108.7 million, which represents a range of 14% to 15% growth. We expect non-GAAP EPS to be in the range of $0.78 to $0.80. Q4 capital expenditures are expected to be in the range of $4 million to $5 million. With that, Sumedh and I are happy to answer any of your questions.”