“Currently, as we begin the year with an expectation to finish 2025 at 103, we do not foresee a substantial change in that rate.”

In context

“Joo Mi Kim (CFO): For Joo Mi, it's been a remarkable year for Qualys. You guided to 7% at the midpoint. Entering last year, and you put up 10% and now you're guiding closer to 8% this year. How can we think about the levers for upside to growth this year? Yes. 2025 was a solid year. From an execution standpoint, it was a very exciting year for us with ETM having gone live at the end of 2024. We've had a significant number of discussions with our existing customers in terms of how we can increase value without them having to double their spend initially with us. And so, by doing that and working through our partners, what we were able to do is finalize our pricing and packaging for ETM and identify our key products that are going to be levers for growth in the short term and long-term going forward as well. So 2025, a solid year, closing the year with another 10% growth for revenue, which we're really pleased about. Now when it comes to current billings, it came in line with our expectations from last quarter with 2025 current billings growth of 8%. That's slightly lower than the 9% that we posted back in 2024 for current billings. So looking ahead to 2026, I think that's kind of more or less in line with what the baseline case is for us. Looking out, our guidance is really informed by what we see in the business today, the discussions that we're having, what we expect from the macro and in the spending environment. With that said, we do anticipate significant upside. Given what Sumedh just covered, we have very exciting product discussions with existing customers as well as prospects. I think that we've gone ahead and really leveraged our innovation and our power to really deliver what the customers are looking for and what the market is looking for. So we're excited about the outlook. But with that said, the baseline still remains to be around 7% to 8%. Our guidance assumes no significant change in the net dollar expansion rate. Historically, this rate has fluctuated up or down each quarter over the past few years. Currently, as we begin the year with an expectation to finish 2025 at 103, we do not foresee a substantial change in that rate.”