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- Any forward-looking statements that we make on this call are based on assumptions as of today, and we undertake no obligation to update these statements as a result of new information or future events. And as a reminder, the press release, prepared...
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So with that, I'd like to turn the call over to Sumedh. We are pleased to report another quarter of healthy revenue growth and profitability reflecting good progress on both our strategic and financial agendas. Since taking on the role of interim...
- We believe Qualys' VMDR which is Vulnerability Management, Detection and Response is setting the gold standard for vulnerability management with our single agent approach to speedy detection and response. Attackers' rapid exploitation of vulnerabilities for malware and ransomware attacks continues to grow as witnessed with the recent high-profile ProxyLogon vulnerabilities impacting Microsoft Exchange Servers. Threat actors raced to exploit a large number of unpatched servers in a matter of a few days and installed the China Chopper Webshell for further entry into the organization's environment. The DearCry ransomware hit soon after leveraging these vulnerabilities. Qualys quickly released a free day VMDR service to help organizations to not only quickly detect vulnerabilities, but also patch them with a single click and further detect ransomware with Multi-Vector EDR and take response action, all using our single Qualys Cloud Agent.
- This showcases the power of VMDR to not only report on vulnerabilities like other siloed point solutions, but also mitigate the risk immediately and was very well received by our customers who were able to patch high-profile vulnerabilities in a matter of hours with our tightly integrated Patch Management solution in a single app workflow and stay ahead of threat actors. While still a small portion of overall bookings, we continued to see strong customer interest in our Patch Management solution both in the mid-market as well as with large new and existing customers. In fact, in Q1, a leading large multinational firm selected our Patch Management application over several competing solutions given its ability to easily and effectively patch remote endpoints without using the limited bandwidth available on VPN gateways.
- With our recent announcement of extension of Patch Management for Linux systems, where very few enterprise patching solutions are available, we are looking forward to expanding the opportunity of upsell to customers who already have Cloud Agents on these systems. Further pressing our advantage with agent consolidation, we continue to see customer interest in adding our multi-vector EDR to their VMDR and Patch Management deployment to reduce agent sprawl on their endpoints with a single solution for risk mitigation and threat response. Our recent announcement of adding real-time anti-malware protection capability to our Multi-Vector EDR solution further solidifies our commitment to continuing to expand our addressable market opportunity.
- In terms of our other newer paid solutions, we saw solid growth in the quarter with our Container Security solution led by Microsoft Azure for scanning container registries. In the quarter, two leading financial institutions selected our Asset Inventory paid module in order to gain visibility of all their known and unknown assets spanning multiple environments to identify the end-of-life of their installed software and synchronize with their ServiceNow CMDB.
- XDR is a next generation Security Analytics and Incident Response solution, which natively integrates and correlates security telemetry across the security stack for an end-to-end platform. This solution is currently in private beta with a few select design partner customers. With these continued innovations and others on our platform we'll expand our addressable market, while opening exciting new growth opportunities for the business.
- Another key area of my focus is our go-to-market strategy and sales execution. Pairing industry leading innovation with an amplified investment in our go-to-market initiatives underpin our confidence in driving profitable growth and long-term value creation for our customers and shareholders. Armed with industry leading technology and substantive new platforms following the successful launch of VMDR and Multi-Vector EDR last year, as well as the upcoming release of our XDR solution, we're planning to make appropriate go-to-market investments in our business. We believe that we're well-positioned to maximize the return on incremental investments, so I've been spending the majority of my time with the sales and marketing team as well as product management to execute on this plan.
- To that effect one of my top priorities as previously mentioned, was to look for the candidate as Chief Revenue Officer to drive growth of our business. He will be responsible for all aspects of revenue performance with a focus on delivering sustainable customer value and business outcomes, the leadership of the worldwide sales and partner organization, and continuing Qualys' growth momentum. Allan has more than 20 years of executive sales experience building and scaling global teams in cybersecurity and SaaS companies, including previously serving as the CRO of Trustwave. At the same time, we're also enhancing Sales Operations, Digital Marketing and other sales enablement functions in the Company with a balanced approach to sustained future growth and profitability. In conclusion, as I stated on our prior call, Qualys continues to move well beyond vulnerability management and increase its competitive advantage with the addition of our newer solutions, including our soon to be released XDR solution.
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Our strategic direction remains focused on leading with powerfully disruptive technologies. Paired with strong sales leadership and a focused and growing global go-to-market initiative, we believe we're well positioned to drive long-term value for both our customers and shareholders. With that, I'll turn the call over to Joo Mi to further discuss our first quarter financial results and guidance for the second quarter and full year fiscal 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.Top 30 Vulnerability Researcher Interview Questions And Answers For 2021
We're pleased to report another strong quarter reflected in the following financial and operational highlights. Please note our Q1 calculated current billings was negatively impacted by a large late renewal that closed after the end of the quarter as well as the timing and amount of prepaid multiyear subscriptions and shorter duration invoicing. In Q2, we expect this to reverse to have a positive impact on calculated current billings by a few percentage points. Our scalable platform model continues to drive superior margins and generate significant cash flow. We remain confident in our financial model due to our strong competitive position and leading cloud platform. With that, Sumedh and I are happy to answer any of your questions. Your line is open. Hey, it's Dan Bergstrom for Matt Hedberg.- Thanks for taking our questions. Is there any additional color into that late renewal you could provide? You said it'd be a few percentage point benefit in the second quarter here. Is that just the late renewal? Or does that take into account some of the prepaid timing and duration as well? So when we have a large late renewal in the quarter, we usually call it out, and it was meaningful enough to have a negative impact by a couple of percentage points as a whole. We expect that to reverse, and this is consistent with the billings have been in the past. Now if you take a look at our current billings, because we don't manage to quarterly billings, you'll see some fluctuation. So what we anticipate is the Q1 negative impact to more or less reverse in Q2, so we'll see a higher current billings in Q2 relative to gain. That's helpful.
Privileged Access Management And Vulnerability Systems: Qualys And WALLIX
And then maybe could you just talk to India? I know you've got over employees there. I think everyone's been working remotely already. I guess, is that the case? Or is there any incremental action that's needed to happen here recently? I think that's a very important aspect to address it. We do have a large presence in India, and we have been doing quite well working remotely for all of our employees over the last year plus. So our employees have been already used to that working remote environment and stay safe in their homes. And obviously, we at Qualys are monitoring the situation, working with our employees, providing assistance where that is ended.- But at this point, we don't see any meaningful impact to what we are seeing in terms of output from our operation. Operator Thank you.
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Even a relatively small organization will have multiple people operating and administering multiple IT assets while fending off multiple threats. Any problem is basically a problem cubed. How do you keep things secure in that environment? No single security solution can do it all. What Is a Vulnerability System? Sometimes, those vulnerabilities are built-in security flaws that are revealed only when someone clever figures out how to exploit them, e. Other times, a user will carelessly or deliberately expose a vulnerability by leaving a port open on a firewall, for example. System updates can also accidentally expose new vulnerabilities. Given that any vulnerability can lead to a security incident, cybersecurity teams now employ vulnerability systems to detect weaknesses in the overall IT ecosystem so they can be remediated quickly.- Qualys , for example, offers security managers the ability to discover rogue devices and web applications. It can verify that systems have implemented required controls such as password enforcement and data access policies. From these types of processes, Qualys can automatically identify, tag and organize assets, dynamically selecting them for scanning or reporting. Qualys then enables security teams to track vulnerabilities. The system helps administrators prioritize their remediation. It also centralizes the collection of assessment evidence files. It is then able to feed actionable security data to SIEM, governance solutions, firewalls, and so forth. Finally, Qualys can identify needed patches. It then continuously scans for further vulnerability. To interactively view security posture throughout the network, Qualys automates procedural questionnaires for employees, vendors and partners.
- PAM and Vulnerability Systems Impressive as great vulnerability tools like Qualys may be, they are even more effective when complemented by a privileged access management solution. PAM involves using tools and practices to keep an organization safe from accidental or deliberate misuse of privileged access. PAM solutions offer secure, streamlined ways to authorize and monitor all privileged users for all relevant systems. PAM grants and revokes access privileges, even across heterogeneous systems. PAM creates an unalterable audit trail for any privileged operation. Who will fix it? If there is an incident, what happened, by whom, when, and how?
- Working together, a PAM solution and vulnerability system equal more than the sum of their respective parts. If a vulnerability system discovers a vulnerability on a perimeter server, for example, PAM is able to report on the activities of privileged users who may have caused the vulnerability. The PAM solution may also be able to show, in a detailed session report, exactly what was done to cause the vulnerability. Consider this scenario: A privileged user might accidentally expose a vulnerability in a perimeter device. Alternatively, a malicious actor could impersonate a privileged user and deliberately expose a vulnerability.
Qualys Inc (QLYS) Q1 Earnings Call Transcript | The Motley Fool
The vulnerability system detects the vulnerability. The PAM solution identifies who did it and what happened. Once a privileged user remediates the vulnerability, the PAM solution can provide the vulnerability solution with an auditable confirmation of the remediation session.- Would you be willing to work over 40 hours a week? Before answering scheduling questions, it's important to be clear on the interviewer's expectations. If you haven't had a chance to clarify their scheduling needs, now would be the perfect time to ask! Consider asking, 'What are the scheduling expectations for this position? No problem! If it turns out their schedule expectations won't work for you, think about what you CAN offer and see if you can meet in the middle. It's much better to discuss these things in an interview than for you to commit to a schedule that won't work for you.
- Keep in mind that, in most states, an employer cannot demand that an employee work more than 44 hours per week. Rachelle's Answer "I am available for full-time work which is preferably Monday to Friday. I am happy to be a team player and work some overtime, as required. Will these hours meet your expectations? My only restriction is that I cannot work Wednesday nights as I have an evening course those days. What are your thoughts on web-based, click to chat support solutions? Whenever you are asked your opinion on an industry-related topic, you should try to be honest but positive at the same time. Whether you like web-based, click to chat support solutions or not, you should be focusing your answer on why you think they may be helpful. If Qualys offers a service like this you should also ask them an insightful question about that service.
- Rachelle's Answer "I have heard mixed reviews from customers on this type of service. In my opinion, any service that allows a client quick access to answers is a positive thing. Have you noticed a shift in your client relationships since implementing this type of solution? Have you progressed in your career as you have expected? Career progression can be a touchy subject, especially if you feel that your career hasn't progressed as well as you would have liked.
- Talk to the interviewer about your career progression and what you would like to see in the future. Rachelle's Answer "Overall, my career has progressed a touch slower than I would have liked. I have held a couple of positions that didn't offer the growth and learning that I was expecting; however, I have bounced back nicely. I feel that this particular position would take my career exactly where it should be. We put a great deal of pride in our customer service at Qualys. How will you contribute to our high customer service standards? Before your interview, it's a great idea to spend time researching Qualys reviews, their online presence, and their website. Take note of recurring keywords when it comes to their customer service standards. What are their clients saying? Speak confidently about how you plan to uphold their strong customer service standards if hired. Rachelle's Answer "Your customers have a strong voice, and I noticed a consistent theme in your online reviews and presence.
- The theme was that you offer friendly, fast, and easy to understand service. I plan to contribute to this by learning my role quickly and continuing to be an approachable and helpful point of contact for the customers who need us. The more I know, the more I will be able to offer your client base. At Qualys we believe in continued education of our employees. If you could take a course or workshop on any topic, what would you choose? Working for a company which emphasizes the importance of continued education can be an enriching opportunity. Be prepared to talk to the interviewer about your interest in growing your knowledge base. You may want to push your existing knowledge into the expert range, or perhaps there is a current hot topic on which you would like to learn. Whatever your answer may be, ensure that you express to the interviewer your appreciation for continued education opportunities.
- Rachelle's Answer "I love that Qualys emphasizes continued education. This offering is one of the qualities I was looking for, in my next opportunity. My goal is to grow into a management level position, and that would be a great stepping stone to get there. I value continued education as well. What type of manager brings out the best in you? The interviewer wants to see that you are self-aware and understand the type of manager or employer that brings out the best in you. Some individuals prefer a close working relationship with a lot of accountability while others prefer space and autonomy.
- If you are unsure of the management style of the interviewing company, try to leave your answer as open as possible. You can certainly ask the interviewer to describe their management style. Rachelle's Answer "I have worked with a wide range of personalities and management styles with great success. If I could express a preference, I feel that I am best in an independent and autonomous environment. Can you describe the management style here?
- Scheduled Scan failed to launch. On-Demand Scans fails to launch. Screenshot of the error while launching the scan. Screenshot should include the entire launch scan windows and not just the error. Screenshot of the Scan Launch Window. Once this information is shared, we may need to do a Debug Scan. Scan Ended with No Vulnerabilities found.
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Scan results in PDF format. Does this issue occur with another user's or other network and machine? If yes, then share screenshot of the error while initiating download. Scan Results taking long time to download. Scan Reference number. We may need a session to reproduce the issue on Support's machine. Answers for the following: Are you are logged into the Qualys session, until the download is complete? Report Scheduled Report did not get launched.- Answers for the following questions: Is this a recent issue or it has always been the case? Does the issue occur for On-Demand Reports as well? Does the issue occurs for all Reports or any specific one? ON Demand Report not getting launched. Report Generation failure. Check if issue is occurring with all formats. Screenshot of the error with machine's time stamp. Not able to generate Report. Qualys Username. Screenshot of the stuck report along with the machine's time stamp. Ensure you are logged into the Qualys session, until the download is complete.
- We may do a session to reproduce the issue on Support's machine. QIDs not getting detected on vulnerable asset. Evidence why you believe that this is a False Positive. Authentication Scan results in PDF format. IP address of the asset. Laptop test evidence. Once the error has been captured, reboot the scanner appliance and ensure that scanner is online. We need to fetch scanner logs and this can be done only if the scanner is online.
- Virtual Appliance crashed Error on Virtual Appliance in crash state. Once the error has been captured, reboot the Scanner Appliance and ensure that scanner is online. Offline Scanner Appliance not communicating with Qualys. Error on Scanner Appliance.
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