Added10-Q Nov 9, 2026 vs 10-K Feb 20, 2026
Our subscription model also makes it difficult for us to rapidly increase our revenues through additional bookings in any period, as revenues are recognized ratably over the subscription period.
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SEC EDGAR
/CIK 0001107843
/10-K filed Feb 20, 2026, compared with Feb 21, 2025
/Numbers from the XBRL of the 10-Ks
Nasdaq
Technology · Software
Qualys, Inc. QLYS
New risk paragraphs, branching off last year
Each branch is a paragraph in Risk Factors with nothing like it in the 10-K filed Feb 21, 2025. A box jumps to the paragraph as filed, below.
Paragraphs with nothing like them in last year's 10-K
4 paragraphs in Risk Factors of the 10-K filed Feb 20, 2026 with nothing like them in the 10-K filed Feb 21, 2025. Quoted exactly. Paragraphs that were only edited are under 10-K change.
productive sales personnel, sales of our solutions and the growth of our business may be harmed. Additionally, if our efforts do not result in increased revenues, our operating results could be negatively impacted due to the upfront operating expenses associated with expanding our sales force.
We have invested in the creation of a cloud offering certified under the Federal Information Security Management Act for government usage but we cannot be sure that we will continue to sustain or renew this certification, that the government will continue to mandate such certification or that other government agencies or entities will use this cloud offering. We have obtained authorization under FedRAMP, which facilitates our entry into the U.S. federal government market. Such certification is subject to rigorous compliance and if we lose our certification, it could inhibit or preclude our ability to contract with certain U.S. federal government customers. In addition, some customers may rely on our authorization under FedRAMP to help satisfy their own legal and regulatory compliance requirements and our failure to maintain FedRAMP authorization might result in a breach under public
sector contracts obtained on the basis of such authorization. This could subject us to liability, result in reputational harm, and adversely impact our financial condition or operating results.
results in delays of customer subscriptions or commercialization of our solutions, our business, financial condition and results of operations could be adversely affected.
Paragraphs in the 10-Q filed Nov 9, 2026 that were not in the one before
New in the latest 10-Q
4 paragraphs in the 10-Q filed Nov 9, 2026 with nothing like them in the 10-Q filed Aug 4, 2026 (at least half the words must differ; new numbers alone do not count). Quoted exactly, grouped by the item heading above them. This is text that changed, not a judgement of how serious it is.
Financial statements and notes
The Company presents its derivative assets and derivative liabilities at gross fair values in the condensed consolidated balance sheets. However, under the master netting agreements with the respective counterparties of the foreign exchange
Read in the 10-Q
Other information
On August 10, 2026, Joo Mi Kim, our Chief Financial Officer, adopted a Rule 10b5-1 trading arrangement providing for the sale from time to time of an aggregate of up to 28,280 shares of our common stock, consisting of (i) 17,235 shares of our common stock currently held by Ms. Kim and (ii) 11,045 shares of our common stock issuable upon the vesting and settlement of PRSUs, which represents the gross number of shares authorized to be sold during the duration of the plan, before excluding any shares withheld by the company to satisfy its income tax withholding in connection with the net settlement of the equity awards. The trading arrangement is intended to satisfy the affirmative defense in Rule 10b5-1(c). The duration of the trading arrangement is until August 31, 2027, or earlier if all transactions under the trading arrangement are completed. Prior to entering into the new Rule 10b5-1 trading arrangement in August 2026, Ms. Kim’s previous Rule 10b5-1 trading arrangement expired according to its terms because all the transactions under the arrangement were completed.
Read in the 10-Q
On August 21, 2026, Bruce Posey, our Chief Legal Officer, adopted a Rule 10b5-1 trading arrangement providing for the sale from time to time of an aggregate of up to 25,183 shares of our common stock, consisting of (i) 10,300 shares of our common stock currently held by Mr. Posey and (ii) 14,883 shares of our common stock issuable upon the vesting and settlement of RSUs and PRSUs, which represents the gross number of shares authorized to be sold during the duration of the plan, before excluding any shares withheld by the company to satisfy its income tax withholding in connection with the net settlement of the equity awards. The trading arrangement is intended to satisfy the affirmative defense in Rule 10b5-1(c). The duration of the trading arrangement is until November 1, 2027, or earlier if all transactions under the trading arrangement are completed. Prior to entering into the new Rule 10b5-1 trading arrangement in August 2026, Mr. Posey's previous Rule 10b5-1 trading arrangement expired according to its terms because all the transactions under the arrangement were completed.
Read in the 10-Q
On August 26, 2026, Jeffrey P. Hank, the chair of our board of directors, adopted a Rule 10b5-1 trading arrangement providing for the sale from time to time of an aggregate of up to 4,314 shares of our common stock, consisting of (i) 3,000 shares of our common stock currently held by Mr. Hank and (ii) 1,314 shares of our common stock issuable upon the vesting and settlement of RSUs. The trading arrangement is intended to satisfy the affirmative defense in Rule 10b5-1(c). The duration of the trading arrangement is until August 31, 2027, or earlier if all transactions under the trading arrangement are completed. Prior to entering into the new Rule 10b5-1 trading arrangement in August 2026, Mr. Hank's previous Rule 10b5-1 trading arrangement expired according to its terms because all the transactions under the arrangement were completed.
Read in the 10-Q
The 10-Q's risk factors against the 10-K
Item 1A of the 10-Q filed Nov 9, 2026 against Item 1A of the 10-K filed Feb 20, 2026.
A 10-Q repeats only the risks that changed, so a 10-K paragraph that is missing from it is not counted as removed.
Added is a paragraph with nothing like it in the 10-K, Reworded a sentence that is in both with several words changed,
Quiet changes a sentence in both where one to four words changed and one is a hedge or a modal
(cut words struck through, new words highlighted).
Text on the page, not a score; each links to the filing at sec.gov.
Added10-Q Nov 9, 2026 vs 10-K Feb 20, 2026
the duration of customer relationships and result in additional compliance and operational costs, which may affect our business.
Added10-Q Nov 9, 2026 vs 10-K Feb 20, 2026
business and reputation. Disclosing our proprietary source code also could allow our competitors to create similar products with lower development effort and time and ultimately could result in a loss of sales for us. Any of these events could have a material adverse effect on our business, operating results and financial condition.
Added10-Q Nov 9, 2026 vs 10-K Feb 20, 2026
• a classified board of directors whose members can only be dismissed for cause;
Added10-Q Nov 9, 2026 vs 10-K Feb 20, 2026
our stock price. Significant assumptions and estimates used in preparing our condensed consolidated financial statements include those related to revenue recognition, accounting for income taxes and stock-based compensation.
Show the other 12
Reworded10-Q Nov 9, 2026 vs 10-K Feb 20, 2026
As a result of such relationships and acquisitions, our current or potential competitors might be able to adapt more quickly to new technologies and customer needs, devote greater resources to the promotion or sale of their products and services, initiate or withstand substantial price competition, take advantage of other opportunities more readily or develop and expand their product and service offerings more quickly than we do.
Reworded10-Q Nov 9, 2026 vs 10-K Feb 20, 2026
As of December 31, 2025, September 30, 2026, approximately $160.5 $176.1 million remained available for share repurchases pursuant to our share repurchase program (excluding the $200.0 million increase to our share repurchase program announced on February 5, 2026). program.
Reworded10-Q Nov 9, 2026 vs 10-K Feb 20, 2026
Future or continued economic weakness for us or our customers, failure of our customers and markets to recover from such weakness, customer financial difficulties, and reductions in spending on IT security could have a material adverse effect on demand for our platform and consequently on our business, financial condition and results of operations.
Reworded10-Q Nov 9, 2026 vs 10-K Feb 20, 2026
On each of October 30, 2018, October 30, 2019, May 7, 2020, February 10, 2021 and February 9, 2023, we announced that our board of directors had authorized an increase of $100.0 million, and on each of November 3, 2021, May 4, 2022, February 7, 2024, and February 6, 2025, and February 5, 2026, we announced that our board of directors had authorized an increase of $200.0 million to the share repurchase program. program, resulting in an aggregate authorization of $1.6 billion as of September 30, 2026.
Reworded10-Q Nov 9, 2026 vs 10-K Feb 20, 2026
For the years nine months ended December 31, 2025, 2024 and 2023, September 30, 2026, we derived approximately 49%, 46% and 43% 54% of our revenues from sales of subscriptions for our solutions through channel partners, and the percentage of revenues derived from channel partners may increase in future periods.
Reworded10-Q Nov 9, 2026 vs 10-K Feb 20, 2026
Accordingly, we are exposed to changes in laws governing our employee relationships in various U.S. and foreign jurisdictions, including laws and regulations regarding wage and hour requirements, fair labor standards, employee data privacy, unemployment tax rates, workers’ compensation rates, citizenship requirements and payroll and other taxes which may have a direct impact on our operating costs.
Reworded10-Q Nov 9, 2026 vs 10-K Feb 20, 2026
If we are unable to recruit and retain a sufficient number of productive sales personnel, sales of our solutions and the growth of our business may be harmed.
Reworded10-Q Nov 9, 2026 vs 10-K Feb 20, 2026
We compete with large and small public companies, such as CrowdStrike, Palo Alto Networks, Rapid7, Rapid7 and Tenable Holdings, as well as privately held security providers including Invicti, Tanium, and Wiz (which has announced a pending acquisition was acquired by Google). Google in March 2026).
Reworded10-Q Nov 9, 2026 vs 10-K Feb 20, 2026
During the year nine months ended December 31, 2025, September 30, 2026, we repurchased 1.4 1.6 million shares of our common stock for approximately $182.9 $184.4 million.
Reworded10-Q Nov 9, 2026 vs 10-K Feb 20, 2026
However, for the year nine months ended December 31, 2025, September 30, 2026, we incurred approximately 31% 29% of our expenses in foreign currencies, primarily the Euro, British Pound, and Indian Rupee, principally with respect to salaries and related personnel expenses associated with our European and Indian operations.
Reworded10-Q Nov 9, 2026 vs 10-K Feb 20, 2026
Additionally, for the year nine months ended December 31, 2025, September 30, 2026, approximately 22% 26% of our revenues were generated in foreign currencies.
Reworded10-Q Nov 9, 2026 vs 10-K Feb 20, 2026
In addition, as of December 31, 2025, September 30, 2026, approximately 78% 80% of our employees were located outside of the United States, with 70% 72% of our employees located in India.
The first 17 of 23 are shown (at most 12 of each type).
Phrases used for the first time
Two-word phrases in Risk Factors of the 10-K filed Feb 20, 2026 that are in none of the 1 earlier 10-Ks stored, back to Feb 21, 2025
federal government ×2
Where each one is used
- federal government: We have invested in the creation of a cloud offering certified under the Federal Information Security Management Act for government usage but we cannot be sure that we will continue to sustain or renew this certification, that the government will continue to mandate such certification or that other government...
Used at least twice, small words left out. Counted, not picked: a phrase can be new because the company renamed something.
What was taken out
4 paragraphs of last year's Risk Factors with nothing like them now. The longest are quoted.
Sources
Item 1A of each 10-K and 10-Q on EDGAR, quoted exactly. Each paragraph links to the filing at sec.gov.
Also
10-K change: what was reworded or cut, section by section.
Work with it
Excel workbook · CSV. Google Sheet that stays up to date: paste =IMPORTDATA("https://tickdelta.com/company/QLYS/export.csv") into a cell.