“I don't really expect anything immediately in this quarter. But I think with the momentum that we're seeing, our investment in the federal side, the conference that we did and now getting FedRAMP High, I think this is a key for us”

In context

“Sumedh S. Thakar (President and CEO): Yes, for sure, right? I think expecting any federal movement happening within a few weeks of us getting the FedRAMP High would be a little bit too much expectation. But I think— so see, for us, this has been a long-term focus and investment that we have been making. And as anybody who goes for FedRAMP by FedRAMP High will tell you this is a significant investment to really get there. And so we're super excited to now have that FedRAMP High platform that does vulnerability management, patch management, and cloud security. And so that really is going to open us up opportunities. Obviously, right now, you kind of have a mixed bag with some folks kind of waiting to see how things progress with the cost reduction. Others are seeing this as an opportunity to change out their incumbent vendors to new solutions. And so FedRAMP High coming at this time bodes well in my mind for opportunities that will get created over the next few quarters because now we could go and we could basically showcase that we are the modern solution that is FedRAMP High. And so as they are looking for efficiency and moving out of legacy on-prem solutions, their options are a non-FedRAMP High solution in the cloud or a FedRAMP High solution with Qualys. And so I think that is an advantage, in my opinion, for us, and we look forward to leveraging that. I'm also looking forward to a lot of other commercial companies that actually are FedRAMP High or looking to get FedRAMP High need a FedRAMP High solution, and you have a lot of big companies who are looking for that. And so that puts us in an interesting opportunity, again, where it's not just the government agencies themselves, but we can also see potential pipeline buildup from commercial entities that are currently in the process of trying to go FedRAMP High or FedRAMP High and want to switch to a solution that is also FedRAMP High because there currently is no other solution that can do like FedRAMP High patch management as an example, right? So I don't really expect anything immediately in this quarter. But I think with the momentum that we're seeing, our investment in the federal side, the conference that we did and now getting FedRAMP High, I think this is a key for us, as I mentioned in the last few quarters as well that federal over the next couple of years can be an important area of growth for us.”